AEO Options History — March 2023

In March 2023, AEO traded between $12.71 and $14.27. ATM implied volatility averaged 45.9%, placing in the 8.9% IV rank vs the trailing year. The 30-day expected move averaged 13.1%. IV traded above realized volatility by 8.5% (HV 20d: 37.4%). Max pain ranged from $16.00 to $18.00. Net GEX was positive for 4 of 23 trading days. Term structure was in contango for 6 of 23 days. Put/call ratio averaged 1.03.

Notable Days

  • 2023-03-01: Highest Volume — 14,656 contracts
  • 2023-03-02: Largest IV drop — 26.8% change
  • 2023-03-01: Highest IV Rank — 38.1%
  • 2023-03-01: Largest Expected Move — 20.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$13.35$12.71$14.27$14.11$13.36
Max Pain$17.74$16.00$18.00$16.00$18.00
ATM IV45.9%41.2%60.6%60.6%41.2%
Expected Move13.1%11.0%20.2%20.2%11.0%
HV 20d37.4%34.0%40.9%40.1%35.2%
HV 60d40.0%37.8%40.9%39.8%37.8%
IV Rank8.9%0.0%38.1%38.1%0.0%
IV Percentile7.8%0.0%51.2%51.2%0.0%
Term Structure-0.7%-3.8%1.5%-3.8%0.1%
VWIV45.1%38.9%71.2%71.2%38.9%
Skew 25d6.7%4.5%8.6%7.6%5.6%
Skew 10d14.9%10.0%21.6%12.8%17.8%
Call IV 25d43.0%38.3%56.6%56.6%38.3%
Put IV 25d49.7%43.8%64.2%64.2%43.9%
Bid-Ask Spread %7.305.129.279.278.32
Gamma HHI0.350.150.710.190.20
Net GEX-284.2K-1.8M641.9K-353.2K101.0K
Net DEX8.4M2.3M14.1M8.9M3.8M
Net VEX-155.0K-174.8K-143.9K-174.8K-143.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.030.074.134.130.52
Total Volume3,181.30468314,65614,6561,653
Total OI71,066.17461,59893,60080,67864,141

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-03-01$14.11$16.0060.6%20.2%40.1%38.1%71.2%7.6%-3.8%-353.2K8.9M-174.8K4.139.272,85611,80036,41744,261
2023-03-02$14.27$16.0044.4%12.3%37.1%5.8%44.3%4.5%-0.9%-848.3K10.8M-171.0K1.905.843,0285,76239,28754,313
2023-03-03$14.14$16.0041.9%11.6%36.4%1.0%40.2%5.4%-0.6%-1.8M9.3M-165.1K1.016.952,0682,09139,47952,518
2023-03-06$13.52$18.0042.8%11.4%38.3%2.6%43.3%5.9%-0.5%-398.3K11.6M-158.5K0.688.772,0761,40733,71738,338
2023-03-07$13.68$18.0042.5%11.8%38.2%2.1%39.9%5.8%-1.7%-373.7K7.8M-161.1K0.455.7281136734,33937,283
2023-03-08$14.04$18.0042.7%11.8%39.4%2.5%41.5%6.2%-2.0%-296.6K4.8M-163.3K2.515.121,0322,59234,67237,375
2023-03-09$13.82$18.0044.1%12.4%37.6%5.3%42.1%5.4%-0.8%-337.7K6.9M-167.2K0.637.801,40888634,92638,896
2023-03-10$13.23$18.0046.2%13.3%39.7%9.5%45.2%6.5%-2.0%-410.5K12.8M-158.0K0.407.441,19048035,80539,537
2023-03-13$12.88$18.0048.7%13.5%40.1%14.5%46.0%8.5%-1.0%-388.3K14.1M-150.9K1.028.191,2371,25733,86738,201
2023-03-14$13.20$18.0046.9%13.4%40.1%10.9%44.7%7.2%-0.4%-410.8K10.7M-155.3K0.686.3581355034,19437,745
2023-03-15$13.32$18.0050.3%14.3%40.1%17.5%49.0%8.0%-1.1%-407.5K9.6M-159.1K0.466.1782837934,41437,805
2023-03-16$13.43$18.0048.6%13.8%39.1%14.2%46.6%7.7%-0.7%-413.6K8.3M-159.7K1.756.7752691834,75937,868
2023-03-17$12.88$18.0048.4%13.9%40.9%13.7%47.0%7.1%-0.2%-785.7K13.7M-149.3K0.946.6956052734,86837,828
2023-03-20$12.96$18.0047.5%13.6%39.6%12.0%45.4%8.3%-0.1%-167.3K8.9M-148.4K0.209.052,04240329,09432,871
2023-03-21$13.11$18.0046.5%13.3%34.4%10.1%44.3%7.0%-0.8%-112.3K7.7M-151.4K0.897.1036232130,76233,044
2023-03-22$12.98$18.0045.3%13.0%34.0%7.6%45.1%5.9%1.5%-115.8K8.5M-149.6K3.857.583501,34730,91933,231
2023-03-23$12.71$18.0046.8%13.5%34.1%10.6%48.1%8.6%-2.1%-142.0K10.0M-144.2K0.338.551,04334630,99232,636
2023-03-24$12.93$18.0044.5%12.8%35.0%6.1%45.0%6.1%-0.5%-65.2K8.4M-147.0K0.497.5364631731,32332,755
2023-03-27$13.02$18.0045.7%13.0%35.3%8.5%44.8%7.4%0.3%-120.1K7.1M-145.9K0.197.327,0701,31630,45331,145
2023-03-28$13.14$18.0045.3%12.9%35.5%7.5%43.6%6.6%0.1%459.1K2.3M-148.9K0.407.191,35553635,85530,968
2023-03-29$13.14$18.0042.5%11.9%35.1%2.1%40.0%6.7%1.3%641.9K2.7M-147.3K0.076.574,94136735,92831,204
2023-03-30$13.20$18.0042.2%11.8%34.8%1.5%40.5%6.2%0.5%206.7K4.6M-146.1K0.277.541,02827833,14531,344
2023-03-31$13.36$18.0041.2%11.0%35.2%0.0%38.9%5.6%0.1%101.0K3.8M-143.9K0.528.321,08656732,77331,368