LUV Options History — May 2018

In May 2018, LUV traded between $50.25 and $52.98. ATM implied volatility averaged 24.0%, placing in the 25.7% IV rank vs the trailing year. The 30-day expected move averaged 6.9%. IV traded above realized volatility by 1.8% (HV 20d: 22.1%). Max pain ranged from $52.00 to $57.50. Net GEX was positive for 15 of 22 trading days. Term structure was in contango for 9 of 22 days. Put/call ratio averaged 0.98.

Notable Days

  • 2018-05-17: Highest Volume — 35,223 contracts
  • 2018-05-29: Largest IV spike — 11.0% change
  • 2018-05-29: Highest IV Rank — 41.2%
  • 2018-05-29: Largest Expected Move — 7.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$52.00$50.25$52.98$52.93$51.13
Max Pain$54.70$52.00$57.50$55.00$52.00
ATM IV24.0%22.4%26.4%24.3%25.1%
Expected Move6.9%6.4%7.8%7.2%7.4%
HV 20d22.1%19.4%24.8%24.4%24.6%
HV 60d26.6%25.8%27.8%27.8%27.5%
IV Rank25.7%15.8%41.2%28.0%33.1%
IV Percentile37.1%16.7%56.3%43.7%48.8%
Term Structure-0.1%-0.9%0.7%-0.2%-0.4%
VWIV24.5%22.9%26.9%25.2%26.7%
Skew 25d2.0%0.5%3.5%2.2%1.6%
Skew 10d4.2%0.3%7.7%4.6%3.9%
Call IV 25d23.6%22.3%25.0%23.5%25.0%
Put IV 25d25.6%23.9%28.2%25.8%26.6%
Bid-Ask Spread %16.179.7029.1312.0514.16
Gamma HHI0.100.070.160.090.12
Net GEX1.8M-3.3M14.1M264.9K6.0M
Net DEX56.7M-103.7M128.5M69.9M8.6M
Net VEX-1.3M-1.5M-1.2M-1.2M-1.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.980.202.221.090.42
Total Volume20,060.1369,33535,22310,06319,249
Total OI233,938.909203,977265,175203,977265,175

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2018-05-01$52.93$55.0024.3%7.2%24.4%28.0%25.2%2.2%-0.2%264.9K69.9M-1.2M1.0912.054,8265,237132,38871,589
2018-05-02$52.39$55.0025.1%7.3%24.1%33.0%26.3%2.4%-0.3%-157.1K84.1M-1.2M0.6418.9917,54611,310134,20672,858
2018-05-03$52.36$57.5024.7%7.0%23.9%30.3%24.6%3.5%-0.5%-2.3M93.5M-1.2M0.4915.2415,1287,422135,06077,921
2018-05-04$52.92$57.5023.5%6.9%22.5%22.8%23.6%1.4%0.3%2.7M69.1M-1.3M0.3610.8110,8303,942136,95579,395
2018-05-07$52.01$57.5024.3%6.8%23.0%27.5%24.4%2.6%-0.7%-1.5M100.6M-1.2M1.5317.373,9606,062134,41676,554
2018-05-08$52.34$57.5023.6%6.9%22.5%23.6%24.3%3.0%0.4%-1.6M91.8M-1.2M1.9813.003,5527,020135,41679,320
2018-05-09$51.54$57.5023.6%6.8%22.8%23.5%24.0%1.4%-0.3%-3.3M122.8M-1.2M1.289.706,8268,768136,17181,423
2018-05-10$52.01$55.0023.3%6.8%20.8%21.3%23.5%2.3%0.1%-2.4M110.6M-1.2M0.9617.5611,75011,262139,20884,063
2018-05-11$52.49$57.5023.5%6.8%21.3%22.9%24.1%2.2%0.1%2.2M81.9M-1.3M1.0715.118,2068,751144,70087,945
2018-05-14$52.24$55.0023.7%6.8%21.3%23.7%24.2%2.0%-0.3%227.8K92.8M-1.2M2.2212.494,3479,634142,96386,869
2018-05-15$51.53$55.0023.6%6.8%21.3%23.5%24.4%2.1%0.2%-3.2M128.5M-1.2M1.0010.124,6644,671144,68091,028
2018-05-16$52.98$55.0023.2%6.6%20.5%20.7%23.0%2.2%-0.1%1.8M57.6M-1.3M0.4211.3713,3805,686145,76090,096
2018-05-17$52.54$55.0023.4%6.7%19.5%22.0%24.3%2.5%0.1%2.0M74.2M-1.2M0.2029.1329,3275,896147,11090,464
2018-05-18$52.26$55.0022.4%6.4%19.5%15.8%22.9%1.5%0.5%2.1M34.2M-1.3M0.7612.6614,81011,265167,81792,198
2018-05-21$52.22$52.5023.9%6.9%19.4%25.4%24.7%0.5%-0.3%1.3M-3.4M-1.4M0.3218.1924,2187,700136,17985,682
2018-05-22$50.79$52.5023.3%6.7%20.4%21.6%23.7%1.7%-0.3%1.6M53.7M-1.3M0.5724.0012,7337,262154,81787,851
2018-05-23$50.25$52.5023.6%6.9%20.4%23.4%24.0%0.9%0.5%376.8K91.9M-1.3M1.8518.6010,68519,723159,10591,438
2018-05-24$51.40$52.5023.5%6.7%21.9%22.4%23.6%0.5%-0.1%1.7M4.3M-1.4M1.0321.4510,76411,054161,55097,254
2018-05-25$52.76$52.0023.8%7.0%23.8%24.6%24.7%1.9%0.7%14.1M-103.7M-1.5M0.6918.7915,41510,572166,73896,949
2018-05-29$51.57$52.0026.4%7.8%24.7%41.2%26.9%3.2%-0.9%10.3M-22.8M-1.4M1.5817.497,21811,387164,81183,034
2018-05-30$51.31$52.5025.6%7.4%24.8%36.3%25.9%2.0%-0.2%8.1M6.2M-1.5M1.1817.497,9349,331167,87689,624
2018-05-31$51.13$52.0025.1%7.4%24.6%33.1%26.7%1.6%-0.4%6.0M8.6M-1.5M0.4214.1613,5325,717172,31392,862