AEO Options History — September 2025

In September 2025, AEO traded between $13.43 and $19.95. ATM implied volatility averaged 57.3%, placing in the 41.4% IV rank vs the trailing year. The 30-day expected move averaged 16.7%. IV traded below realized volatility by 61.1% (HV 20d: 118.3%). Max pain ranged from $12.00 to $18.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 0.75.

Notable Days

  • 2025-09-04: Highest Volume — 270,918 contracts
  • 2025-09-04: Largest IV drop — 19.8% change
  • 2025-09-03: Highest IV Rank — 73.5%
  • 2025-09-03: Largest Expected Move — 27.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$18.08$13.43$19.95$13.43$16.97
Max Pain$17.05$12.00$18.00$12.00$18.00
ATM IV57.3%51.0%78.6%74.1%52.0%
Expected Move16.7%14.8%27.0%24.8%15.2%
HV 20d118.3%62.3%126.3%70.4%122.6%
HV 60d91.3%69.2%94.8%69.2%94.3%
IV Rank41.4%31.9%73.5%66.7%33.5%
IV Percentile56.8%37.7%94.8%92.5%40.9%
Term Structure-0.5%-3.0%2.0%-2.7%-0.5%
VWIV60.4%52.3%97.6%88.1%54.0%
Skew 25d-3.7%-44.1%25.6%-4.5%-1.5%
Skew 10d-0.1%-18.0%24.2%-0.0%-2.7%
Call IV 25d61.5%30.2%98.1%77.7%55.1%
Put IV 25d57.9%51.8%76.5%73.2%53.6%
Bid-Ask Spread %32.0510.4047.1810.4032.53
Gamma HHI0.140.090.220.100.10
Net GEX1.8M343.9K3.7M1.8M343.9K
Net DEX-198.9M-346.9M-79.2M-88.7M-79.2M
Net VEX-488.3K-532.2K-444.2K-446.6K-445.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.750.251.430.670.97
Total Volume42,101.23811,681270,91836,90113,737
Total OI335,866.667238,704431,560317,429241,480

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-09-02$13.43$12.0074.1%24.8%70.4%66.7%88.1%-4.5%-2.7%1.8M-88.7M-446.6K0.6710.4022,09014,811190,784126,645
2025-09-03$13.71$12.0078.6%27.0%62.3%73.5%97.6%-10.4%-1.8%1.9M-105.0M-470.5K0.2531.1874,78518,804200,313131,427
2025-09-04$18.61$13.0063.0%17.3%122.6%50.0%62.8%-3.6%-0.3%3.7M-346.9M-509.0K0.5115.38179,71691,202243,510148,364
2025-09-05$18.81$16.0058.3%16.3%122.0%42.9%58.0%-2.9%-0.4%3.4M-298.1M-523.3K0.8038.4444,79135,770236,591194,969
2025-09-08$18.29$17.0057.8%16.2%122.7%42.1%57.5%-3.0%-3.0%1.6M-230.4M-526.5K1.1243.6119,67222,073205,675168,652
2025-09-09$17.82$18.0055.7%15.6%123.7%39.0%55.3%-1.9%-0.7%1.3M-209.2M-532.2K0.5435.6315,9598,646212,061174,235
2025-09-10$19.24$18.0057.8%16.0%125.2%42.1%59.6%-2.4%-1.9%2.5M-271.7M-502.1K0.4936.5436,06617,506207,987173,940
2025-09-11$19.66$18.0055.2%15.6%123.8%38.2%56.5%1.8%2.0%3.4M-295.3M-502.4K0.7135.4416,97112,057217,638180,123
2025-09-12$18.38$18.0053.8%15.3%124.6%36.1%56.9%-3.9%-1.0%852.2K-227.1M-506.5K1.2232.0711,56714,083217,541182,446
2025-09-15$19.48$18.0056.3%16.0%125.4%39.9%59.1%-5.6%0.6%2.1M-270.6M-489.6K0.3347.1824,9418,159203,810167,112
2025-09-16$19.93$18.0057.0%16.3%124.8%41.0%58.5%-2.7%0.5%2.4M-288.7M-483.5K0.5541.9717,0239,370207,235170,401
2025-09-17$19.95$18.0056.1%16.1%124.3%39.6%58.3%-4.1%-0.7%2.6M-292.3M-519.2K0.5847.1312,1727,044212,883173,948
2025-09-18$19.57$18.0056.1%16.2%123.7%39.6%59.7%-4.5%-1.2%2.6M-273.1M-507.1K0.7930.538,5416,774211,051175,350
2025-09-19$18.86$18.0053.7%15.4%125.2%36.0%56.4%-3.9%-0.3%1.5M-234.9M-494.0K0.8036.2010,3468,305212,491176,558
2025-09-22$18.18$18.0055.1%15.8%126.3%38.1%59.8%-2.8%-1.0%782.1K-122.1M-481.6K0.5324.4714,2267,547146,94397,639
2025-09-23$17.97$18.0055.1%15.6%125.7%38.0%54.7%25.6%-1.2%737.7K-116.1M-480.5K0.5231.6814,9537,719149,68098,764
2025-09-24$17.93$18.0053.0%15.1%124.6%35.0%55.8%-44.1%0.1%622.7K-112.2M-466.4K0.8127.686,4595,222147,866100,897
2025-09-25$17.70$18.0051.9%15.0%121.6%33.3%53.6%-1.4%1.2%951.5K-107.7M-461.5K1.0819.768,4219,079151,108100,344
2025-09-26$18.00$18.0051.4%14.8%121.1%32.5%52.3%0.1%-1.0%2.3M-120.6M-461.7K0.9720.886,1965,985153,294102,741
2025-09-29$17.21$18.0051.0%14.9%122.5%31.9%54.2%-1.2%1.7%521.9K-87.0M-444.2K1.4334.386,3049,034141,89696,808
2025-09-30$16.97$18.0052.0%15.2%122.6%33.5%54.0%-1.5%-0.5%343.9K-79.2M-445.4K0.9732.536,9866,751142,72098,760