AEO Options History — April 2021

In April 2021, AEO traded between $28.89 and $38.01. ATM implied volatility averaged 45.3%, placing in the 5.6% IV rank vs the trailing year. The 30-day expected move averaged 12.3%. IV traded below realized volatility by 0.5% (HV 20d: 45.8%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 19 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 1.38.

Notable Days

2021-04-26: Highest Volume — 14,739 contracts
2021-04-26: Largest IV spike — 11.6% change
2021-04-06: Highest IV Rank — 18.2%
2021-04-06: Largest Expected Move — 12.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$33.83	$28.89	$38.01	$28.89	$34.60
Max Pain	$26.52	$25.00	$30.00	$29.00	$30.00
ATM IV	45.3%	39.9%	55.0%	43.2%	55.0%
Expected Move	12.3%	11.6%	12.9%	11.8%	11.9%
HV 20d	45.8%	36.5%	50.3%	49.9%	42.1%
HV 60d	43.4%	41.4%	44.1%	43.8%	44.1%
IV Rank	5.6%	0.0%	18.2%	17.2%	10.9%
IV Percentile	6.5%	0.0%	26.6%	2.0%	26.6%
Term Structure	1.1%	-5.3%	10.0%	1.6%	-2.2%
VWIV	43.8%	40.9%	49.9%	41.8%	42.9%
Skew 25d	1.4%	-32.6%	11.4%	3.6%	-0.8%
Skew 10d	11.3%	-47.8%	30.6%	5.9%	12.0%
Call IV 25d	47.9%	39.5%	79.8%	43.0%	58.2%
Put IV 25d	49.3%	43.8%	57.4%	46.6%	57.4%
Bid-Ask Spread %	56.33	39.88	85.51	42.59	46.94
Gamma HHI	0.11	0.08	0.25	0.08	0.10
Net GEX	263.3K	-239.0K	519.7K	74.6K	-239.0K
Net DEX	-37.8M	-58.9M	-15.7M	-15.7M	-28.6M
Net VEX	-118.3K	-154.0K	-97.5K	-127.2K	-154.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.38	0.23	4.97	1.13	3.77
Total Volume	4,308.19	559	14,739	1,645	6,589
Total OI	49,916	41,789	64,039	49,592	64,039

Daily Data (21 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
2021-04-01	$28.89	$29.00	43.2%	11.8%	49.9%	17.2%	41.8%	3.6%	1.6%	74.6K	-15.7M	-127.2K	1.13	42.59	774	871	18,386	31,206
2021-04-05	$29.85	$25.00	44.1%	12.7%	50.3%	17.8%	49.9%	-32.6%	0.8%	86.6K	-20.9M	-123.5K	1.15	85.51	260	299	16,628	29,611
2021-04-06	$30.39	$25.00	44.8%	12.9%	48.1%	18.2%	45.4%	6.4%	0.4%	215.7K	-25.0M	-121.5K	1.00	76.08	1,418	1,424	16,819	29,811
2021-04-07	$31.14	$25.00	45.5%	12.9%	48.2%	2.6%	44.9%	4.5%	-1.8%	405.4K	-30.5M	-119.8K	1.40	47.82	494	691	17,549	30,054
2021-04-08	$31.53	$25.00	44.2%	12.5%	47.8%	1.7%	45.1%	5.4%	-1.9%	465.7K	-32.5M	-121.9K	1.20	52.72	563	675	17,736	30,435
2021-04-09	$32.47	$25.00	43.0%	12.2%	48.1%	0.9%	41.7%	-2.1%	-0.9%	337.1K	-39.5M	-104.7K	1.34	65.00	1,050	1,404	17,865	30,706
2021-04-12	$33.15	$25.00	42.5%	12.5%	48.2%	0.5%	43.5%	5.0%	0.4%	403.5K	-39.9M	-112.1K	0.42	48.39	902	379	17,713	26,890
2021-04-13	$32.46	$25.00	41.9%	12.9%	48.5%	0.1%	46.9%	2.4%	1.7%	458.1K	-38.1M	-102.0K	1.42	62.92	1,460	2,074	18,129	27,148
2021-04-14	$32.91	$25.00	42.4%	12.6%	48.5%	0.4%	44.1%	3.1%	1.9%	394.6K	-39.7M	-109.0K	0.49	49.57	409	199	18,121	27,738
2021-04-15	$34.33	$25.00	39.9%	12.1%	50.3%	0.0%	42.2%	3.0%	2.5%	446.8K	-47.6M	-97.5K	1.13	66.02	3,899	4,393	18,284	27,819
2021-04-16	$34.56	$25.00	41.3%	12.0%	49.2%	1.0%	42.6%	11.4%	1.4%	-146.6K	-50.4M	-105.0K	0.71	63.83	1,268	898	20,410	30,560
2021-04-19	$35.25	$25.00	42.3%	12.2%	49.4%	1.7%	43.7%	4.3%	6.8%	337.0K	-40.4M	-105.2K	0.71	39.88	1,842	1,317	16,789	25,000
2021-04-20	$34.74	$25.00	42.9%	12.3%	46.9%	2.2%	45.0%	3.9%	5.0%	327.0K	-37.4M	-107.9K	3.89	45.98	1,005	3,910	17,158	25,561
2021-04-21	$36.18	$25.00	43.5%	12.5%	40.0%	2.6%	45.1%	2.3%	3.3%	245.8K	-43.1M	-107.8K	1.25	57.15	2,941	3,688	17,507	28,203
2021-04-22	$36.86	$27.00	43.8%	12.2%	38.7%	2.9%	43.4%	2.3%	6.3%	222.7K	-46.4M	-131.4K	0.79	60.06	4,231	3,330	19,004	30,991
2021-04-23	$38.01	$28.00	45.5%	12.0%	36.5%	4.0%	43.5%	1.9%	10.0%	519.7K	-58.9M	-109.0K	0.39	42.55	7,450	2,910	20,443	32,780
2021-04-26	$35.59	$29.00	50.7%	12.3%	46.1%	7.8%	43.5%	2.2%	-5.3%	223.4K	-38.4M	-122.4K	0.85	61.96	7,950	6,789	25,342	29,863
2021-04-27	$36.33	$29.00	51.4%	11.9%	42.1%	8.3%	42.2%	0.6%	-1.2%	398.9K	-44.1M	-129.9K	0.72	50.92	1,511	1,084	23,323	34,389
2021-04-28	$35.80	$30.00	51.8%	11.6%	41.0%	8.6%	40.9%	1.4%	-2.7%	306.0K	-39.9M	-131.7K	0.23	65.41	2,061	464	23,468	34,826
2021-04-29	$35.31	$30.00	50.7%	11.6%	41.9%	7.8%	40.9%	1.2%	-2.5%	45.9K	-36.6M	-140.4K	4.97	51.73	937	4,659	24,875	35,057
2021-04-30	$34.60	$30.00	55.0%	11.9%	42.1%	10.9%	42.9%	-0.8%	-2.2%	-239.0K	-28.6M	-154.0K	3.77	46.94	1,382	5,207	25,036	39,003