AEO Options History — April 2020

In April 2020, AEO traded between $6.68 and $9.64. ATM implied volatility averaged 83.8%, placing in the 34.3% IV rank vs the trailing year. The 30-day expected move averaged 24.0%. IV traded below realized volatility by 50.5% (HV 20d: 134.3%). Max pain ranged from $7.00 to $14.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 1.19.

Notable Days

  • 2020-04-27: Highest Volume — 13,673 contracts
  • 2020-04-06: Largest IV spike — 1025.3% change
  • 2020-04-07: Highest IV Rank — 81.7%
  • 2020-04-01: Largest Expected Move — 29.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$8.17$6.68$9.64$6.92$7.94
Max Pain$12.33$7.00$14.00$10.00$7.00
ATM IV83.8%14.1%183.3%37.1%79.0%
Expected Move24.0%21.2%29.9%29.9%26.7%
HV 20d134.3%118.7%146.3%120.8%137.0%
HV 60d95.7%77.4%109.5%77.4%109.5%
IV Rank34.3%1.1%81.7%12.1%32.1%
IV Percentile84.0%0.4%99.6%15.9%90.9%
Term Structure-14.8%-119.4%117.4%-47.9%5.0%
VWIV84.0%65.5%130.6%130.6%92.9%
Skew 25d11.7%-34.5%70.0%70.0%-4.9%
Skew 10d27.8%-74.2%64.9%64.9%-37.6%
Call IV 25d81.8%48.0%193.7%101.2%78.1%
Put IV 25d93.5%56.5%171.3%171.3%73.2%
Bid-Ask Spread %42.8118.51117.41117.4141.26
Gamma HHI0.300.160.520.300.19
Net GEX68.3K-6.2K189.4K15.1K189.4K
Net DEX2.0M-6.8M7.5M7.5M-4.0M
Net VEX-79.4K-97.8K-49.6K-49.6K-91.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.190.169.470.270.16
Total Volume3,232.42928413,6733,7246,982
Total OI53,813.52444,96272,08945,90572,089

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2020-04-01$6.92$10.0037.1%29.9%120.8%12.1%130.6%70.0%-47.9%15.1K7.5M-49.6K0.27117.412,92480026,30719,598
2020-04-02$6.70$14.0078.0%27.2%119.2%31.6%65.5%29.6%0.0%20.7K6.3M-54.1K0.8644.2995282029,12320,092
2020-04-03$6.68$14.0014.1%22.2%118.7%1.1%76.4%15.4%0.0%24.3K6.0M-56.7K2.2651.4410223129,80120,310
2020-04-06$8.06$14.00158.2%21.9%139.8%69.8%77.7%10.4%-116.2%43.2K3.4M-76.5K0.4947.9588743229,40919,772
2020-04-07$9.01$14.00183.3%21.4%146.3%81.7%76.3%9.1%-119.4%87.5K647.3K-89.7K0.7847.611,4291,11229,81119,875
2020-04-08$9.30$14.00148.3%22.7%143.7%65.1%79.1%-34.5%-67.4%102.1K897.2K-90.4K1.1143.5127430430,03020,563
2020-04-09$9.64$14.0070.0%21.6%140.9%27.8%78.7%11.0%19.1%118.2K-1.1M-97.8K1.0849.8646950830,09820,781
2020-04-13$8.93$14.0084.0%23.7%139.9%34.4%85.9%18.8%117.4%74.1K2.5M-86.9K0.6931.0323316129,33120,860
2020-04-14$9.49$14.0077.9%23.7%133.9%31.5%74.8%14.8%107.4%139.6K385.2K-92.7K0.5339.0535819029,42720,823
2020-04-15$8.61$14.0083.0%23.8%138.6%33.9%88.8%14.9%0.0%37.0K3.4M-81.7K1.9235.1631259829,63020,811
2020-04-16$8.78$14.0074.3%23.2%132.3%29.8%85.5%15.6%-63.3%21.9K3.2M-82.4K2.2341.208819629,76620,974
2020-04-17$9.32$14.0069.7%22.1%122.8%27.6%75.5%11.2%-26.4%20.7K1.7M-87.4K0.2836.1396627329,81120,961
2020-04-20$8.52$14.0063.4%23.8%126.7%24.6%75.7%7.6%-2.7%22.4K3.1M-78.3K0.7747.9466551425,48919,473
2020-04-21$8.36$14.0059.8%24.1%119.6%22.9%85.1%8.5%-3.2%16.4K3.4M-76.6K9.4731.173042,88025,69419,684
2020-04-22$6.87$14.0082.0%27.4%137.5%33.5%94.6%39.0%9.8%-6.2K7.1M-59.6K0.5538.996,1933,39525,94122,393
2020-04-23$7.04$13.0091.2%26.1%136.2%37.9%91.9%27.0%-1.4%12.2K5.3M-69.0K0.1733.554,34175931,56124,534
2020-04-24$6.93$10.0076.5%24.2%136.2%30.9%85.5%-20.7%0.7%48.2K4.4M-71.6K0.5338.843,4351,81235,13424,922
2020-04-27$7.80$9.0075.0%23.3%142.7%30.2%82.3%7.4%-71.6%82.4K-366.8K-85.2K0.2038.0611,3792,29436,88325,403
2020-04-28$8.14$7.0074.6%23.1%143.6%29.9%81.2%13.5%2.6%187.0K-5.3M-93.0K0.3518.513,7071,30144,04227,117
2020-04-29$8.43$7.0080.2%21.2%143.8%32.6%79.7%-17.2%-9.5%178.0K-6.8M-95.9K0.1925.992,77952243,93327,828
2020-04-30$7.94$7.0079.0%26.7%137.0%32.1%92.9%-4.9%5.0%189.4K-4.0M-91.9K0.1641.266,03594744,04528,044