LUV Options History — April 2018

In April 2018, LUV traded between $52.91 and $56.77. ATM implied volatility averaged 32.1%, placing in the 77.1% IV rank vs the trailing year. The 30-day expected move averaged 9.0%. IV traded below realized volatility by 1.7% (HV 20d: 33.8%). Max pain ranged from $55.00 to $60.00. Net GEX was positive for 16 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 0.86.

Notable Days

  • 2018-04-12: Highest Volume — 31,230 contracts
  • 2018-04-26: Largest IV drop — 16.9% change
  • 2018-04-02: Highest IV Rank — 100.0%
  • 2018-04-24: Largest Expected Move — 10.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$54.70$52.91$56.77$54.27$52.91
Max Pain$57.52$55.00$60.00$59.00$56.00
ATM IV32.1%23.8%35.7%35.7%24.1%
Expected Move9.0%7.0%10.0%9.3%7.1%
HV 20d33.8%27.0%37.0%31.9%27.0%
HV 60d28.9%28.0%30.2%28.4%28.2%
IV Rank77.1%24.6%100.0%100.0%26.7%
IV Percentile88.7%38.9%100.0%100.0%41.3%
Term Structure-1.1%-3.9%0.4%-0.7%0.3%
VWIV31.6%24.2%34.6%32.5%24.8%
Skew 25d3.7%1.8%11.5%4.7%3.2%
Skew 10d6.9%2.3%13.7%6.6%6.1%
Call IV 25d31.6%23.0%39.4%33.3%23.0%
Put IV 25d35.3%25.4%50.9%38.0%26.2%
Bid-Ask Spread %21.3011.2767.4211.2716.62
Gamma HHI0.110.080.180.080.09
Net GEX1.4M-4.4M7.3M244.6K-127.2K
Net DEX44.2M-10.0M91.0M68.2M71.3M
Net VEX-1.3M-1.4M-1.2M-1.2M-1.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.860.171.920.700.59
Total Volume14,768.0486,42431,23011,01013,404
Total OI189,822.81168,787217,277168,787200,853

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2018-04-02$54.27$59.0035.7%9.3%31.9%100.0%32.5%4.7%-0.7%244.6K68.2M-1.2M0.7011.276,4784,532103,61965,168
2018-04-03$55.90$59.0033.6%8.5%33.7%86.5%30.0%4.5%-1.5%1.7M24.5M-1.3M0.5520.544,1722,284107,56066,820
2018-04-04$56.47$59.0032.5%8.1%34.0%79.6%28.7%3.8%-1.5%2.7M6.6M-1.4M0.8714.713,4813,038108,71767,086
2018-04-05$56.77$57.5031.8%8.6%33.8%75.2%31.3%3.7%-1.3%3.9M-10.0M-1.4M0.6713.173,8442,580109,57567,410
2018-04-06$55.14$57.5034.1%9.2%34.9%90.1%32.1%4.4%-0.9%97.1K49.9M-1.2M1.0811.553,3493,603109,86967,440
2018-04-09$55.24$57.5034.0%9.4%33.8%89.4%32.4%4.1%-0.9%1.1M42.8M-1.2M1.4113.644,0775,752105,44765,485
2018-04-10$54.21$57.5033.9%9.3%34.0%88.6%33.5%4.2%-1.3%-146.9K79.8M-1.2M0.8016.305,5674,436107,12168,334
2018-04-11$53.70$57.5034.9%9.7%33.7%95.1%34.6%4.8%-1.1%-692.7K91.0M-1.2M0.9215.694,7844,424109,26969,937
2018-04-12$55.10$57.5035.3%9.9%35.5%97.3%33.5%2.5%-1.3%1.0M38.9M-1.3M0.1717.0526,7134,517110,85971,215
2018-04-13$55.03$57.5034.3%9.6%35.3%91.3%33.0%3.6%-1.0%7.3M30.0M-1.3M0.4916.628,7114,227121,27471,844
2018-04-16$55.03$55.0032.4%9.2%34.5%79.3%32.4%3.1%-0.7%2.3M43.0M-1.2M0.9316.415,0474,677117,66469,743
2018-04-17$54.29$55.0032.9%9.4%34.6%82.1%33.1%1.8%-0.9%1.5M74.3M-1.2M1.9267.425,73811,029119,50672,238
2018-04-18$56.03$55.0032.5%9.3%37.0%79.5%32.5%2.0%-3.9%4.5M-2.0M-1.3M1.3344.9112,61916,791121,39677,522
2018-04-19$54.86$60.0032.2%9.3%34.0%77.8%33.1%2.6%-0.8%141.4K60.4M-1.3M0.8016.1910,2888,256130,55682,313
2018-04-20$54.72$60.0032.4%9.4%33.7%79.0%33.3%1.9%-0.9%-4.4M67.0M-1.3M0.7622.6410,9778,295134,31582,962
2018-04-23$54.84$57.5032.3%9.5%33.7%78.2%33.9%2.6%-1.6%4.3M-1.3M-1.3M1.1320.555,9716,773122,34866,453
2018-04-24$53.68$57.5033.9%10.0%33.7%88.8%34.1%11.5%-0.9%3.0M30.3M-1.3M1.4622.914,0795,973125,30368,683
2018-04-25$53.90$57.5031.3%9.6%33.5%72.3%33.8%3.1%-1.1%3.0M30.4M-1.3M0.5621.6914,1877,925126,57870,126
2018-04-26$53.09$57.5026.0%7.5%33.8%38.8%26.0%3.5%-1.3%203.2K73.7M-1.2M0.5525.6718,35710,111134,21473,735
2018-04-27$53.55$57.5023.8%7.0%33.0%24.6%24.2%2.1%0.4%-2.8M58.7M-1.2M0.4521.6813,1185,945138,82376,899
2018-04-30$52.91$56.0024.1%7.1%27.0%26.7%24.8%3.2%0.3%-127.2K71.3M-1.2M0.5916.628,4214,983130,74770,106