AEO Options History — July 2021

In July 2021, AEO traded between $33.31 and $37.61. ATM implied volatility averaged 44.9%, placing in the 6.2% IV rank vs the trailing year. The 30-day expected move averaged 12.6%. IV traded above realized volatility by 4.7% (HV 20d: 40.1%). Max pain ranged from $30.00 to $34.50. Net GEX was positive for 13 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 0.96.

Notable Days

2021-07-30: Highest Volume — 28,429 contracts
2021-07-06: Largest IV spike — 9.9% change
2021-07-29: Highest IV Rank — 10.8%
2021-07-27: Largest Expected Move — 13.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$35.34	$33.31	$37.61	$37.61	$34.25
Max Pain	$32.21	$30.00	$34.50	$34.50	$34.00
ATM IV	44.9%	37.7%	50.0%	39.8%	50.0%
Expected Move	12.6%	10.1%	13.7%	11.0%	13.5%
HV 20d	40.1%	35.3%	45.1%	35.3%	38.3%
HV 60d	42.9%	40.9%	44.6%	42.8%	40.9%
IV Rank	6.2%	0.0%	10.8%	0.5%	10.7%
IV Percentile	17.6%	0.0%	30.6%	0.4%	30.6%
Term Structure	1.6%	-2.7%	15.6%	0.9%	-0.9%
VWIV	45.9%	38.2%	59.5%	41.0%	53.0%
Skew 25d	1.6%	-3.0%	4.1%	1.7%	3.1%
Skew 10d	6.7%	-10.9%	46.5%	7.3%	10.2%
Call IV 25d	45.7%	39.6%	57.8%	41.1%	46.1%
Put IV 25d	47.3%	40.4%	56.1%	42.8%	49.2%
Bid-Ask Spread %	44.24	30.29	61.18	37.22	49.52
Gamma HHI	0.13	0.06	0.36	0.08	0.13
Net GEX	-352.2K	-3.9M	1.5M	994.2K	999.5K
Net DEX	-34.6M	-61.0M	17.0M	-61.0M	-46.7M
Net VEX	-288.5K	-361.1K	-220.1K	-220.1K	-361.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.96	0.12	3.54	2.16	1.98
Total Volume	10,219.905	2,904	28,429	3,151	28,429
Total OI	99,563.857	82,090	122,694	83,855	122,694

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
2021-07-01	$37.61	$34.50	39.8%	11.0%	35.3%	0.5%	41.0%	1.7%	0.9%	994.2K	-61.0M	-220.1K	2.16	37.22	997	2,154	32,635	51,220
2021-07-02	$37.45	$34.50	37.7%	10.1%	35.4%	0.0%	38.2%	0.8%	5.4%	716.7K	-59.5M	-223.9K	0.81	49.18	1,604	1,300	32,906	53,170
2021-07-06	$37.09	$30.00	41.4%	12.1%	35.4%	3.3%	44.3%	1.3%	1.0%	624.0K	-52.9M	-220.6K	0.72	45.33	3,705	2,653	31,272	50,818
2021-07-07	$35.34	$30.00	43.2%	12.4%	38.7%	4.8%	44.3%	1.0%	-0.4%	187.3K	-35.3M	-221.5K	2.00	47.83	7,488	14,952	32,510	52,481
2021-07-08	$35.00	$30.00	46.6%	13.0%	38.3%	7.7%	46.7%	1.9%	-0.8%	-2.8M	-6.4M	-261.1K	0.86	49.75	3,953	3,415	31,899	66,589
2021-07-09	$36.30	$30.00	42.8%	12.4%	40.0%	4.5%	43.9%	1.8%	0.7%	-1.7M	-36.6M	-259.5K	0.87	33.46	2,672	2,321	34,018	67,829
2021-07-12	$37.09	$31.00	42.5%	12.2%	39.6%	4.2%	43.4%	2.5%	-0.7%	-652.8K	-48.3M	-251.7K	0.49	41.06	3,113	1,514	32,832	65,975
2021-07-13	$36.35	$31.00	43.6%	12.6%	40.2%	5.1%	44.5%	2.0%	0.8%	-1.2M	-39.9M	-245.1K	1.07	35.56	3,297	3,524	33,627	66,316
2021-07-14	$36.36	$32.00	43.6%	12.3%	39.5%	5.1%	44.2%	-3.0%	-1.0%	-1.1M	-42.8M	-253.2K	0.13	43.60	9,020	1,175	35,430	64,399
2021-07-15	$34.41	$32.00	43.3%	12.5%	44.3%	4.9%	48.6%	3.8%	0.2%	-3.2M	-5.7M	-274.1K	0.85	30.29	12,703	10,821	41,583	65,239
2021-07-16	$33.48	$32.00	45.4%	13.3%	44.9%	6.7%	46.1%	1.2%	0.3%	-3.9M	17.0M	-306.7K	1.08	61.18	6,724	7,231	45,981	74,047
2021-07-19	$33.31	$32.00	48.3%	13.7%	44.3%	9.2%	59.5%	2.4%	15.6%	201.1K	-15.8M	-298.8K	3.54	41.06	4,049	14,342	41,590	40,518
2021-07-20	$34.68	$32.00	44.5%	12.8%	45.1%	5.9%	45.9%	2.8%	2.4%	171.4K	-30.5M	-325.7K	0.63	38.37	3,256	2,052	43,579	53,418
2021-07-21	$35.32	$32.00	43.3%	12.4%	42.9%	4.8%	45.8%	1.2%	3.8%	571.2K	-41.5M	-336.5K	0.85	38.48	3,266	2,787	44,781	54,339
2021-07-22	$34.63	$33.00	44.4%	12.6%	42.1%	5.9%	44.5%	1.7%	2.8%	143.0K	-29.3M	-325.9K	0.55	46.17	2,070	1,144	45,634	56,199
2021-07-23	$34.58	$33.00	44.5%	12.4%	40.9%	5.9%	43.9%	3.3%	4.1%	-189.8K	-29.2M	-325.3K	0.45	43.73	5,452	2,470	46,195	56,796
2021-07-26	$35.19	$33.00	48.9%	13.0%	41.4%	9.7%	46.4%	1.3%	1.0%	64.7K	-40.1M	-324.7K	0.15	45.53	10,307	1,541	42,514	53,442
2021-07-27	$34.63	$33.00	49.3%	13.7%	39.5%	10.1%	48.0%	-1.7%	0.3%	74.0K	-33.9M	-330.0K	0.51	45.69	6,569	3,381	46,075	54,549
2021-07-28	$34.56	$33.50	49.4%	13.4%	38.5%	10.2%	47.4%	-0.3%	1.3%	1.1M	-43.1M	-344.3K	0.31	52.12	7,537	2,319	54,565	55,243
2021-07-29	$34.42	$34.00	50.0%	12.7%	38.4%	10.8%	44.8%	4.1%	-2.7%	1.5M	-44.1M	-349.1K	0.12	54.02	6,543	768	58,207	57,727
2021-07-30	$34.25	$34.00	50.0%	13.5%	38.3%	10.7%	53.0%	3.1%	-0.9%	999.5K	-46.7M	-361.1K	1.98	49.52	9,541	18,888	63,131	59,563