AEO Options History — December 2025

In December 2025, AEO traded between $20.82 and $27.68. ATM implied volatility averaged 54.5%, placing in the 37.0% IV rank vs the trailing year. The 30-day expected move averaged 16.5%. IV traded below realized volatility by 8.9% (HV 20d: 63.3%). Max pain ranged from $13.00 to $19.00. Net GEX was positive for 17 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 1.11.

Notable Days

  • 2025-12-03: Highest Volume — 59,390 contracts
  • 2025-12-03: Largest IV drop — 34.2% change
  • 2025-12-01: Highest IV Rank — 91.3%
  • 2025-12-02: Largest Expected Move — 27.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.35$20.82$27.68$21.24$26.44
Max Pain$15.95$13.00$19.00$18.00$19.00
ATM IV54.5%45.5%90.4%90.4%51.4%
Expected Move16.5%13.8%27.1%26.9%15.9%
HV 20d63.3%41.4%67.3%41.4%66.1%
HV 60d54.4%50.0%56.7%50.1%52.3%
IV Rank37.0%23.6%91.3%91.3%30.6%
IV Percentile37.5%16.3%98.8%98.8%27.4%
Term Structure0.5%-35.4%24.3%-35.4%-1.6%
VWIV58.4%50.4%97.1%95.5%56.1%
Skew 25d3.2%-5.0%18.5%18.5%-2.8%
Skew 10d6.5%-24.6%29.2%13.9%16.1%
Call IV 25d53.5%45.2%77.3%70.1%51.9%
Put IV 25d56.8%48.4%88.6%88.6%49.1%
Bid-Ask Spread %39.8422.7769.8352.1031.40
Gamma HHI0.140.090.240.110.15
Net GEX1.2M-526.3K3.1M1.6M-526.3K
Net DEX-218.0M-279.7M-147.5M-152.1M-191.7M
Net VEX-331.8K-369.1K-278.2K-347.8K-330.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.110.253.030.700.38
Total Volume15,262.8181,55059,39019,5983,171
Total OI215,587.636180,563250,554180,563216,840

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-12-01$21.24$18.0090.4%26.9%41.4%91.3%95.5%18.5%-35.4%1.6M-152.1M-347.8K0.7052.1011,5388,060115,76964,794
2025-12-02$20.82$18.0076.9%27.1%42.0%70.9%97.1%-5.0%24.3%1.6M-147.5M-357.6K0.4269.8333,45813,977120,55770,967
2025-12-03$23.87$18.0050.6%15.6%60.1%31.4%52.2%2.3%5.3%3.1M-246.4M-319.9K0.2857.5146,36413,026142,52085,634
2025-12-04$24.51$13.0045.5%13.8%59.2%23.6%50.4%3.0%5.0%2.8M-237.6M-297.8K0.8739.717,9446,894133,80189,711
2025-12-05$23.14$13.0049.1%14.2%63.3%29.1%50.5%5.0%9.6%1.5M-195.2M-320.5K0.9841.688,5468,391134,69194,961
2025-12-08$22.39$13.0048.0%14.7%65.6%27.5%51.9%1.6%4.6%1.4M-158.1M-325.3K2.4237.153,2857,934118,36182,237
2025-12-09$23.91$13.0047.9%14.8%67.3%27.2%52.8%3.6%2.9%1.5M-194.3M-308.4K0.6751.205,0753,384118,40083,623
2025-12-10$24.48$13.0046.2%14.9%66.7%24.6%53.9%3.6%5.2%1.9M-212.7M-312.1K0.8056.833,9133,118120,81884,534
2025-12-11$25.07$13.0047.9%14.7%66.7%27.2%51.9%3.5%4.1%2.1M-227.5M-303.1K0.5932.953,8872,292122,29785,349
2025-12-12$25.38$13.0048.4%14.6%65.1%28.0%51.6%1.9%3.3%2.1M-236.7M-298.4K0.4736.737,5083,518122,73586,185
2025-12-15$26.91$13.0055.6%16.3%66.6%38.9%56.8%2.6%-1.0%1.6M-259.2M-278.2K0.2541.5429,3987,302119,08284,381
2025-12-16$27.13$13.0056.4%16.3%66.2%40.0%57.0%2.7%-3.5%2.3M-278.7M-324.1K2.0030.095,17310,368132,56989,742
2025-12-17$26.84$15.0057.9%16.6%66.3%42.2%59.1%2.8%0.0%1.9M-267.3M-344.2K3.0348.404,95415,032134,18096,834
2025-12-18$27.50$16.0059.6%17.3%65.7%44.9%60.9%2.7%-3.5%1.4M-277.5M-369.1K2.1825.865,16111,257135,555107,729
2025-12-19$27.68$17.0055.5%16.1%65.5%38.6%57.4%3.0%-2.0%732.4K-279.7M-364.0K1.2931.123,8104,898135,795114,759
2025-12-22$27.30$18.0053.3%15.3%64.8%35.4%54.6%3.1%-2.1%471.0K-223.8M-362.4K1.3822.773,7055,115117,91695,137
2025-12-23$26.44$19.0051.6%15.2%67.3%32.8%54.0%1.9%0.8%11.7K-197.5M-358.8K2.5950.822,2755,903118,96197,401
2025-12-24$26.70$19.0050.5%15.3%67.2%31.2%54.1%5.8%-4.1%-42.4K-205.4M-367.6K1.0523.21756794119,59198,654
2025-12-26$26.30$19.0052.0%15.4%67.0%33.4%54.5%3.3%1.0%-424.9K-192.9M-352.3K0.9527.452,3932,272119,85398,761
2025-12-29$26.86$19.0051.7%16.0%66.8%33.0%55.3%2.4%-0.1%-189.1K-208.4M-324.1K0.5335.004,7382,489116,96496,905
2025-12-30$26.78$19.0051.7%15.9%66.5%32.9%56.6%5.2%-0.9%-144.9K-205.9M-332.3K0.5733.131,719987119,49297,883
2025-12-31$26.44$19.0051.4%15.9%66.1%30.6%56.1%-2.8%-1.6%-526.3K-191.7M-330.7K0.3831.402,300871118,51998,321