AEO Options History — March 2022

In March 2022, AEO traded between $16.64 and $21.36. ATM implied volatility averaged 58.1%, placing in the 63.8% IV rank vs the trailing year. The 30-day expected move averaged 17.1%. IV traded below realized volatility by 7.7% (HV 20d: 65.9%). Max pain ranged from $20.00 to $24.00. Net GEX was positive for 3 of 23 trading days. Term structure was in contango for 7 of 23 days. Put/call ratio averaged 1.01.

Notable Days

2022-03-03: Highest Volume — 30,614 contracts
2022-03-03: Largest IV drop — 14.7% change
2022-03-01: Highest IV Rank — 100.0%
2022-03-01: Largest Expected Move — 22.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$18.22	$16.64	$21.36	$20.43	$16.88
Max Pain	$22.20	$20.00	$24.00	$22.00	$20.00
ATM IV	58.1%	48.2%	69.7%	69.7%	48.2%
Expected Move	17.1%	13.9%	22.4%	22.4%	14.1%
HV 20d	65.9%	39.8%	73.9%	39.8%	65.6%
HV 60d	54.2%	48.1%	57.1%	48.1%	56.3%
IV Rank	63.8%	32.9%	100.0%	100.0%	32.9%
IV Percentile	76.6%	40.9%	100.0%	100.0%	40.9%
Term Structure	-1.1%	-4.5%	0.8%	-2.7%	0.3%
VWIV	59.5%	47.5%	82.2%	76.0%	47.8%
Skew 25d	7.6%	3.8%	14.7%	9.1%	6.3%
Skew 10d	13.6%	5.5%	19.1%	13.3%	16.2%
Call IV 25d	55.0%	46.1%	66.4%	64.8%	46.1%
Put IV 25d	62.6%	51.5%	74.4%	73.9%	52.5%
Bid-Ask Spread %	16.78	8.21	41.92	30.16	13.51
Gamma HHI	0.14	0.06	0.40	0.18	0.11
Net GEX	-235.5K	-978.1K	526.6K	-142.4K	-223.0K
Net DEX	18.1M	3.6M	34.5M	9.8M	20.5M
Net VEX	-204.6K	-248.0K	-167.4K	-231.3K	-187.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.01	0.32	2.04	1.06	0.32
Total Volume	8,984.391	3,351	30,614	6,219	10,005
Total OI	77,234.652	66,997	89,142	66,997	83,752

Daily Data (23 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
2022-03-01	$20.43	$22.00	69.7%	22.4%	39.8%	100.0%	76.0%	9.1%	-2.7%	-142.4K	9.8M	-231.3K	1.06	30.16	3,025	3,194	35,266	31,731
2022-03-02	$21.36	$22.00	68.9%	22.1%	41.8%	97.3%	82.2%	10.7%	-4.5%	-62.8K	3.6M	-248.0K	0.80	26.79	15,397	12,375	36,261	33,306
2022-03-03	$19.27	$22.00	58.7%	16.9%	54.5%	65.7%	61.3%	6.7%	-1.8%	-978.1K	32.1M	-205.7K	1.77	16.69	11,041	19,573	47,454	41,202
2022-03-04	$18.02	$22.00	64.5%	19.6%	58.1%	83.6%	67.9%	14.7%	-3.3%	-909.8K	34.5M	-192.7K	2.04	41.92	5,254	10,720	48,495	40,647
2022-03-07	$16.64	$22.00	69.0%	22.2%	62.5%	97.8%	76.3%	8.1%	-0.4%	-192.8K	26.4M	-167.4K	0.86	13.57	4,635	4,003	38,577	33,665
2022-03-08	$17.65	$22.00	67.8%	21.1%	67.4%	94.0%	73.6%	7.7%	-1.9%	-141.7K	21.4M	-198.2K	1.26	16.21	4,243	5,330	40,621	34,012
2022-03-09	$18.19	$21.50	65.1%	19.6%	67.3%	85.5%	67.2%	9.0%	-2.9%	-294.5K	20.0M	-209.3K	0.32	10.94	10,057	3,228	41,904	36,501
2022-03-10	$18.08	$21.00	63.7%	20.3%	67.0%	81.2%	67.1%	9.3%	-1.7%	-233.7K	20.3M	-211.6K	0.60	14.52	3,188	1,913	43,476	37,675
2022-03-11	$17.51	$20.00	61.8%	19.3%	67.0%	75.1%	65.2%	8.2%	0.7%	-268.9K	26.0M	-197.4K	0.89	14.32	3,120	2,772	43,237	37,695
2022-03-14	$17.77	$24.00	64.1%	17.0%	66.8%	82.4%	59.0%	9.1%	-3.1%	-227.3K	21.1M	-202.6K	0.51	9.08	3,218	1,647	39,942	35,372
2022-03-15	$17.98	$24.00	64.0%	16.9%	67.2%	82.1%	59.1%	7.9%	-2.5%	-137.7K	19.0M	-204.8K	0.67	23.05	2,502	1,667	41,393	35,246
2022-03-16	$18.70	$24.00	57.5%	15.8%	69.2%	61.7%	55.5%	8.5%	-0.0%	-34.9K	14.3M	-214.7K	0.81	31.53	2,647	2,137	41,854	35,066
2022-03-17	$19.04	$23.00	54.6%	15.5%	69.9%	52.9%	53.4%	7.2%	0.4%	68.9K	11.2M	-218.8K	0.95	15.67	1,720	1,631	42,207	35,066
2022-03-18	$19.42	$23.00	53.1%	14.7%	69.2%	48.0%	54.6%	6.7%	-0.9%	526.6K	6.9M	-221.5K	0.87	13.46	2,603	2,266	42,568	35,115
2022-03-21	$18.09	$23.00	52.9%	15.0%	72.9%	47.6%	53.6%	7.5%	-0.9%	-26.0K	13.2M	-206.7K	1.27	18.62	2,966	3,753	39,187	30,947
2022-03-22	$18.45	$23.00	50.6%	14.5%	73.5%	40.3%	50.1%	5.8%	0.0%	-88.8K	12.3M	-213.1K	0.61	14.59	2,345	1,433	40,296	32,903
2022-03-23	$17.59	$22.00	51.2%	14.5%	73.9%	42.2%	50.6%	5.9%	-0.3%	-350.9K	18.2M	-192.7K	1.27	9.89	2,802	3,557	41,010	33,108
2022-03-24	$17.53	$22.00	50.0%	14.7%	71.6%	38.4%	51.1%	6.0%	0.5%	-538.8K	18.9M	-195.6K	1.70	11.61	2,208	3,746	41,961	35,135
2022-03-25	$17.39	$22.00	51.3%	14.9%	71.1%	42.3%	51.6%	3.8%	0.7%	-811.4K	20.4M	-192.9K	1.86	10.41	2,212	4,105	42,266	37,539
2022-03-28	$17.49	$22.00	52.1%	14.7%	71.3%	45.0%	49.4%	5.6%	-1.6%	-208.8K	17.0M	-190.7K	1.21	8.21	3,079	3,729	40,004	35,131
2022-03-29	$18.37	$22.00	49.6%	13.9%	73.9%	37.2%	47.5%	6.3%	-0.8%	4.4K	10.7M	-210.8K	0.95	11.73	3,769	3,578	41,123	36,042
2022-03-30	$17.31	$22.00	48.9%	14.0%	73.8%	35.0%	48.3%	4.5%	0.8%	-143.5K	18.4M	-191.3K	0.62	9.41	5,077	3,171	43,373	37,066
2022-03-31	$16.88	$20.00	48.2%	14.1%	65.6%	32.9%	47.8%	6.3%	0.3%	-223.0K	20.5M	-187.3K	0.32	13.51	7,605	2,400	46,115	37,637