AEO Options History — February 2021

In February 2021, AEO traded between $22.48 and $26.63. ATM implied volatility averaged 60.8%, placing in the 23.4% IV rank vs the trailing year. The 30-day expected move averaged 16.9%. IV traded above realized volatility by 22.4% (HV 20d: 38.4%). Max pain ranged from $19.00 to $23.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 4 of 19 days. Put/call ratio averaged 0.55.

Notable Days

2021-02-24: Highest Volume — 28,501 contracts
2021-02-02: Largest IV drop — 10.2% change
2021-02-01: Highest IV Rank — 27.3%
2021-02-25: Largest Expected Move — 18.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$24.90	$22.48	$26.63	$22.48	$25.82
Max Pain	$22.37	$19.00	$23.00	$19.00	$23.00
ATM IV	60.8%	57.4%	69.0%	69.0%	61.3%
Expected Move	16.9%	14.1%	18.8%	16.3%	18.3%
HV 20d	38.4%	31.5%	42.2%	41.9%	31.5%
HV 60d	37.8%	33.4%	46.4%	46.4%	34.1%
IV Rank	23.4%	21.8%	27.3%	27.3%	23.6%
IV Percentile	30.2%	17.9%	51.2%	51.2%	32.1%
Term Structure	-1.0%	-4.1%	2.7%	2.7%	0.5%
VWIV	59.4%	50.3%	69.5%	57.1%	66.1%
Skew 25d	2.9%	-11.1%	12.4%	12.4%	0.4%
Skew 10d	14.1%	-12.1%	37.9%	35.5%	29.7%
Call IV 25d	62.7%	57.4%	77.9%	69.1%	63.7%
Put IV 25d	65.6%	61.7%	81.5%	81.5%	64.1%
Bid-Ask Spread %	24.36	14.36	55.13	44.29	14.36
Gamma HHI	0.23	0.10	0.68	0.28	0.11
Net GEX	2.5M	631.0K	5.8M	1.8M	631.0K
Net DEX	-88.0M	-123.6M	-35.4M	-52.0M	-46.3M
Net VEX	-176.8K	-203.7K	-146.5K	-200.7K	-200.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.55	0.04	2.06	0.73	0.42
Total Volume	4,917.737	1,016	28,501	1,662	5,823
Total OI	104,257.684	67,483	120,784	101,099	100,105

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
2021-02-01	$22.48	$19.00	69.0%	16.3%	41.9%	27.3%	57.1%	12.4%	2.7%	1.8M	-52.0M	-200.7K	0.73	44.29	962	700	62,540	38,559
2021-02-02	$23.19	$19.00	62.0%	15.0%	42.2%	24.0%	50.3%	3.8%	-1.8%	2.2M	-70.1M	-203.5K	0.72	55.13	1,398	1,012	67,193	40,727
2021-02-03	$23.89	$19.00	60.2%	14.1%	41.4%	23.1%	51.0%	7.4%	-1.3%	2.6M	-85.8M	-200.0K	0.64	34.14	620	396	67,749	41,189
2021-02-04	$24.71	$23.00	60.1%	16.2%	39.3%	23.1%	57.0%	6.8%	0.6%	2.9M	-104.4M	-183.5K	0.61	14.54	1,603	985	67,201	41,180
2021-02-05	$25.27	$23.00	60.4%	16.6%	39.2%	23.2%	55.5%	4.9%	1.9%	2.5M	-115.8M	-176.7K	0.04	15.00	11,577	495	67,665	41,203
2021-02-08	$25.05	$23.00	58.5%	16.3%	39.4%	22.3%	58.2%	-1.9%	-0.7%	3.1M	-115.5M	-186.4K	0.69	23.73	914	627	75,412	37,549
2021-02-09	$24.80	$23.00	61.0%	17.0%	38.9%	23.5%	60.5%	4.1%	-0.8%	3.2M	-110.1M	-187.0K	0.58	21.49	751	437	76,048	37,886
2021-02-10	$24.80	$23.00	59.4%	16.6%	38.4%	22.7%	58.3%	0.9%	-1.5%	3.2M	-111.2M	-183.2K	0.35	19.40	992	349	75,981	38,168
2021-02-11	$24.99	$23.00	60.3%	16.9%	37.9%	23.1%	59.1%	4.9%	-1.6%	3.2M	-114.5M	-178.6K	0.44	26.13	1,346	590	75,859	38,210
2021-02-12	$24.53	$23.00	59.9%	17.1%	38.6%	22.9%	59.0%	-11.1%	-3.1%	3.3M	-105.2M	-175.8K	0.37	22.68	1,134	423	76,098	38,640
2021-02-16	$25.34	$23.00	60.9%	17.4%	39.1%	23.4%	60.9%	3.5%	-4.1%	2.9M	-123.6M	-151.5K	0.27	28.56	1,132	307	75,458	37,619
2021-02-17	$24.98	$23.00	61.3%	17.6%	39.7%	23.6%	61.1%	3.6%	-1.3%	2.6M	-117.4M	-146.5K	2.06	22.10	2,511	5,182	75,693	37,675
2021-02-18	$24.77	$23.00	59.7%	17.2%	40.0%	22.9%	60.8%	3.8%	-2.2%	2.0M	-113.2M	-153.2K	0.16	14.48	1,148	187	78,012	42,699
2021-02-19	$24.98	$23.00	57.4%	16.5%	37.2%	21.8%	58.6%	4.3%	-0.1%	5.8M	-117.9M	-146.8K	0.58	21.16	4,934	2,843	78,076	42,708
2021-02-22	$25.35	$23.00	60.4%	17.8%	37.4%	23.2%	61.1%	3.1%	-0.4%	1.3M	-35.9M	-157.5K	0.93	17.73	2,636	2,464	36,299	31,184
2021-02-23	$25.55	$23.00	59.6%	18.2%	36.6%	22.8%	62.0%	6.2%	-1.9%	1.1M	-35.4M	-162.4K	0.15	19.38	962	148	37,705	33,528
2021-02-24	$26.63	$23.00	59.8%	17.7%	38.6%	22.9%	62.5%	-2.2%	-1.3%	1.0M	-50.5M	-162.9K	0.34	25.86	21,265	7,236	38,290	33,625
2021-02-25	$25.97	$23.00	64.1%	18.8%	31.9%	24.9%	69.5%	0.5%	-2.7%	1.2M	-47.3M	-203.7K	0.32	22.60	5,580	1,768	57,360	39,803
2021-02-26	$25.82	$23.00	61.3%	18.3%	31.5%	23.6%	66.1%	0.4%	0.5%	631.0K	-46.3M	-200.0K	0.42	14.36	4,089	1,734	60,743	39,362