AEO Options History — February 2020

In February 2020, AEO traded between $12.69 and $14.99. ATM implied volatility averaged 53.9%, placing in the 65.5% IV rank vs the trailing year. The 30-day expected move averaged 14.8%. IV traded above realized volatility by 20.2% (HV 20d: 33.6%). Max pain ranged from $14.00 to $15.00. Net GEX was positive for 11 of 19 trading days. Term structure was in contango for 1 of 19 days. Put/call ratio averaged 1.31.

Notable Days

2020-02-20: Highest Volume — 4,873 contracts
2020-02-28: Largest IV spike — 16.2% change
2020-02-27: Highest IV Rank — 100.0%
2020-02-28: Largest Expected Move — 22.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$14.23	$12.69	$14.99	$14.47	$12.69
Max Pain	$14.63	$14.00	$15.00	$14.50	$14.00
ATM IV	53.9%	47.7%	79.2%	48.2%	79.2%
Expected Move	14.8%	10.3%	22.9%	11.1%	22.9%
HV 20d	33.6%	26.3%	43.2%	26.3%	43.0%
HV 60d	33.4%	31.2%	35.7%	32.1%	35.7%
IV Rank	65.5%	50.3%	100.0%	51.6%	100.0%
IV Percentile	78.1%	65.9%	100.0%	66.7%	100.0%
Term Structure	-2.7%	-6.6%	0.4%	-2.1%	-6.6%
VWIV	52.0%	36.9%	77.1%	38.9%	77.1%
Skew 25d	6.3%	3.5%	9.9%	3.5%	9.9%
Skew 10d	20.1%	-1.2%	43.7%	15.4%	29.4%
Call IV 25d	50.9%	46.4%	69.5%	49.2%	69.5%
Put IV 25d	57.2%	52.2%	79.4%	52.7%	79.4%
Bid-Ask Spread %	16.90	12.74	25.32	12.74	25.32
Gamma HHI	0.14	0.11	0.25	0.11	0.12
Net GEX	37.6K	-138.6K	303.4K	-34.0K	-57.7K
Net DEX	-6.9M	-12.6M	1.8M	-7.6M	1.8M
Net VEX	-100.2K	-103.8K	-97.0K	-101.4K	-98.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.31	0.33	2.72	0.83	0.79
Total Volume	1,905.947	531	4,873	1,589	1,687
Total OI	39,112.789	35,188	43,765	36,801	40,257

Daily Data (19 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2020-02-03	$14.47	$14.50	48.2%	11.1%	26.3%	51.6%	38.9%	3.5%	-2.1%	-34.0K	-7.6M	-101.4K	0.83	12.74	867	722	21,729	15,072
2020-02-04	$14.44	$14.50	47.7%	10.3%	26.3%	50.3%	38.7%	6.5%	0.4%	-32.4K	-7.1M	-101.5K	1.28	13.69	361	462	22,260	15,511
2020-02-05	$14.98	$14.50	50.3%	10.3%	29.2%	57.9%	36.9%	8.2%	-1.6%	69.0K	-11.1M	-102.0K	0.33	19.90	1,259	419	22,403	15,615
2020-02-06	$14.77	$15.00	50.1%	13.2%	29.5%	57.1%	45.8%	5.6%	-4.0%	98.7K	-10.0M	-101.5K	0.79	18.02	299	235	23,311	15,745
2020-02-07	$14.26	$15.00	50.2%	13.6%	32.1%	57.7%	46.9%	8.7%	-2.5%	68.8K	-6.1M	-99.2K	1.88	15.99	750	1,413	23,528	15,753
2020-02-10	$14.26	$15.00	50.6%	13.9%	31.3%	58.7%	48.2%	5.6%	-1.3%	26.8K	-7.2M	-99.2K	2.02	15.21	471	952	23,010	15,036
2020-02-11	$14.56	$15.00	49.9%	13.3%	30.6%	56.6%	50.5%	7.0%	-2.5%	90.8K	-9.1M	-100.5K	0.77	14.26	623	480	23,379	15,674
2020-02-12	$14.99	$15.00	49.6%	13.6%	31.9%	55.8%	45.5%	5.5%	-2.2%	266.9K	-12.6M	-101.3K	0.53	19.08	1,411	754	23,675	15,872
2020-02-13	$14.74	$15.00	49.9%	13.4%	30.7%	56.7%	49.0%	4.8%	-4.3%	303.4K	-10.7M	-100.9K	2.70	13.00	220	593	24,645	15,972
2020-02-14	$14.81	$15.00	48.4%	13.4%	29.2%	52.3%	47.9%	6.0%	-3.8%	148.5K	-11.1M	-99.4K	0.61	15.96	330	201	24,752	16,398
2020-02-18	$14.36	$15.00	50.7%	14.5%	31.2%	59.1%	50.6%	5.4%	-4.3%	26.4K	-7.6M	-97.5K	2.00	18.30	1,020	2,038	23,058	14,845
2020-02-19	$14.06	$15.00	50.6%	14.5%	31.3%	58.8%	49.5%	6.5%	-2.7%	-138.6K	-4.7M	-97.0K	1.37	12.79	1,006	1,376	23,519	16,406
2020-02-20	$14.72	$14.00	51.1%	14.7%	34.9%	60.2%	52.5%	6.4%	-0.4%	100.7K	-10.3M	-99.5K	1.90	17.62	1,679	3,194	24,058	17,162
2020-02-21	$14.81	$14.00	51.6%	15.0%	35.0%	61.6%	52.3%	5.4%	-2.3%	51.8K	-10.1M	-103.8K	0.48	14.21	1,220	589	24,387	19,378
2020-02-24	$14.14	$15.00	56.9%	17.5%	38.6%	77.1%	59.9%	5.1%	-2.3%	-8.1K	-6.0M	-102.4K	1.50	15.47	936	1,404	19,686	15,502
2020-02-25	$13.47	$14.50	61.1%	18.2%	42.0%	89.4%	65.3%	6.9%	-2.9%	-57.3K	-2.2M	-99.8K	2.72	19.72	1,128	3,073	20,142	16,162
2020-02-26	$12.98	$14.00	59.0%	18.2%	43.2%	83.4%	62.8%	4.1%	-1.6%	-110.8K	929.4K	-98.5K	1.07	16.87	671	716	20,868	18,495
2020-02-27	$12.93	$14.00	68.2%	20.1%	43.0%	100.0%	69.2%	8.9%	-3.6%	-99.3K	778.2K	-100.0K	1.33	23.00	710	944	20,969	18,909
2020-02-28	$12.69	$14.00	79.2%	22.9%	43.0%	100.0%	77.1%	9.9%	-6.6%	-57.7K	1.8M	-98.6K	0.79	25.32	940	747	21,267	18,990