LUV Options History — February 2019

In February 2019, LUV traded between $53.61 and $58.25. ATM implied volatility averaged 23.5%, placing in the 15.9% IV rank vs the trailing year. The 30-day expected move averaged 6.8%. IV traded below realized volatility by 5.8% (HV 20d: 29.3%). Max pain ranged from $55.00 to $55.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 1.58.

Notable Days

2019-02-28: Highest Volume — 103,969 contracts
2019-02-28: Largest IV spike — 22.0% change
2019-02-28: Highest IV Rank — 37.3%
2019-02-28: Largest Expected Move — 9.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$56.50	$53.61	$58.25	$57.26	$55.91
Max Pain	$55.00	$55.00	$55.00	$55.00	$55.00
ATM IV	23.5%	22.1%	29.1%	23.3%	29.1%
Expected Move	6.8%	6.3%	9.3%	6.6%	9.3%
HV 20d	29.3%	26.5%	36.0%	31.3%	29.4%
HV 60d	30.8%	29.7%	33.0%	29.9%	33.0%
IV Rank	15.9%	10.6%	37.3%	15.1%	37.3%
IV Percentile	24.1%	9.9%	63.5%	20.6%	63.5%
Term Structure	0.0%	-0.5%	1.5%	0.2%	-0.5%
VWIV	24.2%	22.8%	33.0%	24.5%	33.0%
Skew 25d	2.8%	1.3%	3.5%	2.9%	1.3%
Skew 10d	5.8%	2.8%	7.1%	6.5%	2.8%
Call IV 25d	22.3%	20.7%	29.3%	21.8%	29.3%
Put IV 25d	25.2%	23.6%	30.6%	24.7%	30.6%
Bid-Ask Spread %	11.35	5.80	37.64	10.65	37.64
Gamma HHI	0.29	0.21	0.39	0.28	0.24
Net GEX	-9.8M	-18.0M	-325.3K	-2.1M	-9.5M
Net DEX	24.1M	-96.5M	202.8M	-85.3M	24.0M
Net VEX	-1.0M	-1.2M	-900.4K	-949.1K	-1.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.58	0.40	5.91	1.69	0.68
Total Volume	13,426.737	2,050	103,969	6,704	103,969
Total OI	133,396	109,364	149,980	119,454	149,980

Daily Data (19 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
2019-02-01	$57.26	$55.00	23.3%	6.6%	31.3%	15.1%	24.5%	2.9%	0.2%	-2.1M	-85.3M	-949.1K	1.69	10.65	2,492	4,212	51,128	68,326
2019-02-04	$58.25	$55.00	22.8%	6.7%	29.0%	13.3%	23.5%	3.5%	0.5%	-325.3K	-96.5M	-900.4K	0.50	10.58	2,452	1,232	47,884	61,480
2019-02-05	$57.70	$55.00	22.9%	6.5%	29.9%	13.7%	23.4%	3.2%	-0.2%	-7.1M	-39.5M	-1.0M	0.73	6.44	2,213	1,621	48,844	78,255
2019-02-06	$57.66	$55.00	23.0%	6.5%	29.0%	14.1%	23.4%	3.1%	-0.5%	-7.4M	-38.2M	-1.0M	1.06	6.10	995	1,055	49,010	78,853
2019-02-07	$57.45	$55.00	23.4%	6.6%	28.4%	15.7%	23.7%	3.3%	-0.1%	-7.7M	-26.9M	-1.0M	0.71	7.36	1,657	1,170	49,232	79,263
2019-02-08	$57.44	$55.00	23.0%	6.5%	28.4%	14.0%	23.9%	2.4%	-0.1%	-7.3M	-27.9M	-1.0M	0.87	10.29	1,524	1,332	49,875	79,550
2019-02-11	$58.25	$55.00	23.4%	6.7%	27.8%	15.6%	24.6%	2.4%	-0.4%	-7.4M	-60.8M	-968.0K	1.07	7.53	4,378	4,690	48,923	72,682
2019-02-12	$57.62	$55.00	22.7%	6.5%	28.6%	12.8%	24.1%	2.6%	0.4%	-10.6M	-27.5M	-1.0M	5.91	9.04	1,818	10,747	50,291	77,146
2019-02-13	$58.07	$55.00	22.6%	6.5%	28.4%	12.4%	23.2%	3.0%	0.1%	-12.0M	-43.9M	-1.0M	1.61	11.34	2,555	4,108	50,999	81,827
2019-02-14	$57.97	$55.00	22.5%	6.4%	28.6%	12.1%	23.9%	3.2%	0.2%	-15.0M	-38.5M	-1.0M	3.20	8.34	2,575	8,240	51,753	82,967
2019-02-15	$57.77	$55.00	22.1%	6.3%	28.8%	10.6%	23.4%	2.6%	0.4%	-18.0M	-31.3M	-1.1M	2.03	5.80	3,057	6,220	52,444	88,325
2019-02-19	$57.95	$55.00	22.1%	6.3%	28.5%	10.6%	23.1%	3.4%	-0.3%	-10.3M	-12.8M	-1.0M	2.60	11.32	2,234	5,809	47,148	81,663
2019-02-20	$54.58	$55.00	24.4%	7.1%	36.0%	19.3%	25.3%	2.7%	1.5%	-11.0M	148.6M	-1.0M	1.44	10.34	9,428	13,564	48,092	84,593
2019-02-21	$54.25	$55.00	24.9%	7.0%	36.0%	21.1%	24.5%	3.0%	-0.0%	-12.5M	167.9M	-1.0M	0.72	12.26	6,029	4,316	52,971	92,073
2019-02-22	$53.61	$55.00	24.1%	6.6%	27.6%	18.1%	23.6%	2.7%	0.4%	-11.8M	202.8M	-1.0M	0.62	12.32	7,285	4,516	55,352	93,954
2019-02-25	$54.07	$55.00	23.1%	6.6%	27.5%	14.3%	23.3%	3.1%	-0.1%	-13.0M	143.9M	-1.0M	0.80	11.78	2,904	2,319	52,806	86,394
2019-02-26	$53.92	$55.00	23.0%	6.6%	27.2%	13.9%	22.8%	2.6%	0.1%	-12.5M	151.4M	-1.0M	0.40	12.73	8,524	3,447	54,292	87,679
2019-02-27	$53.78	$55.00	23.8%	6.9%	26.5%	17.2%	23.0%	2.8%	-0.5%	-11.3M	147.9M	-1.1M	3.28	13.80	2,435	7,986	60,115	88,355
2019-02-28	$55.91	$55.00	29.1%	9.3%	29.4%	37.3%	33.0%	1.3%	-0.5%	-9.5M	24.0M	-1.2M	0.68	37.64	61,708	42,261	60,935	89,045