AEO Options History — January 2024

In January 2024, AEO traded between $19.84 and $21.44. ATM implied volatility averaged 40.3%, placing in the 21.8% IV rank vs the trailing year. The 30-day expected move averaged 11.2%. IV traded above realized volatility by 7.7% (HV 20d: 32.5%). Max pain ranged from $17.00 to $20.00. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 1.36.

Notable Days

2024-01-02: Highest Volume — 30,840 contracts
2024-01-31: Largest IV spike — 24.0% change
2024-01-31: Highest IV Rank — 71.3%
2024-01-03: Largest Expected Move — 13.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$20.53	$19.84	$21.44	$21.04	$19.84
Max Pain	$19.24	$17.00	$20.00	$17.00	$20.00
ATM IV	40.3%	35.2%	56.2%	40.8%	56.2%
Expected Move	11.2%	10.2%	13.6%	12.5%	11.2%
HV 20d	32.5%	24.4%	36.3%	24.4%	32.3%
HV 60d	51.3%	50.2%	52.8%	50.9%	50.2%
IV Rank	21.8%	6.0%	71.3%	23.5%	71.3%
IV Percentile	32.1%	2.8%	89.7%	37.3%	89.7%
Term Structure	2.4%	-1.4%	28.2%	-0.8%	28.2%
VWIV	39.4%	35.4%	47.8%	46.0%	39.3%
Skew 25d	2.2%	1.0%	3.7%	1.9%	2.1%
Skew 10d	0.9%	-42.1%	10.0%	4.1%	-42.1%
Call IV 25d	41.3%	34.9%	89.7%	40.5%	89.7%
Put IV 25d	43.5%	37.0%	91.8%	42.4%	91.8%
Bid-Ask Spread %	15.57	3.78	60.74	56.36	4.52
Gamma HHI	0.24	0.07	0.49	0.21	0.07
Net GEX	789.4K	-1.6M	4.3M	1.9M	78.8K
Net DEX	-32.3M	-114.1M	-6.9M	-95.9M	-6.9M
Net VEX	-113.3K	-206.6K	-88.2K	-140.0K	-88.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.36	0.03	5.29	0.03	4.51
Total Volume	7,681.381	1,241	30,840	30,840	2,483
Total OI	87,751.095	37,864	165,363	121,905	44,034

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
2024-01-02	$21.04	$17.00	40.8%	12.5%	24.4%	23.5%	46.0%	1.9%	-0.8%	1.9M	-95.9M	-140.0K	0.03	56.36	29,826	1,014	75,947	45,958
2024-01-03	$20.13	$17.00	43.7%	13.6%	29.7%	32.5%	47.8%	2.8%	-1.0%	4.3M	-114.1M	-206.6K	0.55	47.73	14,998	8,291	118,832	46,531
2024-01-04	$20.44	$18.00	42.4%	12.2%	30.0%	28.3%	42.2%	2.5%	-1.4%	1.6M	-30.8M	-149.9K	0.28	7.77	4,205	1,170	58,652	51,801
2024-01-05	$19.91	$18.00	41.9%	11.8%	30.5%	27.0%	40.5%	1.0%	-1.1%	1.4M	-14.6M	-141.0K	0.52	4.94	12,982	6,776	58,180	52,330
2024-01-08	$20.99	$18.00	39.8%	11.2%	35.5%	20.3%	39.3%	2.4%	-0.6%	1.5M	-44.7M	-133.7K	0.56	60.74	5,014	2,811	58,326	54,234
2024-01-09	$21.30	$18.00	37.7%	10.9%	35.7%	13.7%	38.7%	2.1%	0.3%	1.7M	-54.3M	-127.4K	2.51	7.74	2,776	6,969	59,051	55,328
2024-01-10	$21.44	$18.00	35.9%	10.2%	34.7%	8.0%	36.2%	1.0%	-0.6%	1.9M	-58.1M	-117.0K	1.90	7.57	4,147	7,874	58,471	54,763
2024-01-11	$21.41	$20.00	35.2%	10.2%	34.6%	6.0%	35.4%	2.3%	0.5%	1.9M	-56.7M	-120.4K	1.15	4.04	1,167	1,340	60,076	58,179
2024-01-12	$20.79	$20.00	35.9%	10.3%	36.3%	8.3%	35.8%	1.3%	-0.1%	693.2K	-35.9M	-115.8K	0.11	3.82	4,323	480	59,731	58,562
2024-01-16	$20.61	$20.00	38.3%	11.0%	36.2%	15.8%	38.4%	2.4%	0.1%	-347.0K	-23.9M	-104.0K	0.87	5.74	1,396	1,221	50,098	53,733
2024-01-17	$20.57	$20.00	38.8%	11.1%	34.8%	17.3%	39.4%	2.4%	-0.4%	-616.1K	-26.0M	-100.7K	5.29	6.61	1,385	7,323	50,905	52,897
2024-01-18	$20.24	$20.00	39.5%	11.3%	35.3%	19.4%	39.2%	3.0%	-0.4%	-1.6M	-15.0M	-101.5K	2.78	6.93	1,543	4,282	51,007	55,419
2024-01-19	$20.26	$20.00	38.8%	11.2%	32.3%	17.3%	38.7%	2.3%	-0.9%	55.3K	-14.7M	-90.3K	1.50	27.82	3,159	4,750	51,230	53,495
2024-01-22	$20.27	$20.00	38.2%	10.9%	32.1%	15.4%	38.4%	3.0%	7.5%	273.2K	-10.7M	-88.2K	0.66	4.41	2,015	1,320	21,243	16,621
2024-01-23	$20.13	$20.00	38.1%	11.2%	31.7%	15.1%	39.1%	2.0%	2.3%	340.4K	-9.8M	-90.2K	0.30	5.40	4,469	1,340	22,641	17,341
2024-01-24	$20.16	$20.00	37.8%	11.0%	30.9%	14.1%	38.1%	2.6%	6.2%	508.7K	-12.0M	-94.2K	1.68	48.91	574	963	25,084	18,193
2024-01-25	$20.29	$20.00	38.3%	10.8%	31.1%	15.6%	37.7%	1.4%	4.4%	556.2K	-13.7M	-94.9K	0.57	4.26	994	571	25,362	18,883
2024-01-26	$20.62	$20.00	40.0%	10.7%	31.7%	21.0%	37.7%	1.7%	5.1%	155.1K	-17.1M	-93.8K	0.57	3.87	1,082	614	25,248	19,100
2024-01-29	$20.48	$20.00	43.0%	11.0%	31.7%	30.2%	38.6%	2.5%	2.1%	186.8K	-13.4M	-91.2K	0.73	4.01	719	522	23,836	18,635
2024-01-30	$20.20	$20.00	45.3%	11.5%	31.9%	37.5%	41.5%	3.7%	0.5%	169.0K	-10.8M	-90.3K	1.42	3.78	1,000	1,421	24,000	18,816
2024-01-31	$19.84	$20.00	56.2%	11.2%	32.3%	71.3%	39.3%	2.1%	28.2%	78.8K	-6.9M	-88.6K	4.51	4.52	451	2,032	24,443	19,591