LUV Options History — March 2019

In March 2019, LUV traded between $48.62 and $54.51. ATM implied volatility averaged 29.1%, placing in the 37.5% IV rank vs the trailing year. The 30-day expected move averaged 8.4%. IV traded above realized volatility by 1.2% (HV 20d: 27.9%). Max pain ranged from $50.00 to $55.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 1.32.

Notable Days

  • 2019-03-01: Highest Volume — 45,119 contracts
  • 2019-03-15: Largest IV drop — 13.2% change
  • 2019-03-27: Highest IV Rank — 53.8%
  • 2019-03-25: Largest Expected Move — 9.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$51.24$48.62$54.51$54.51$52.06
Max Pain$52.38$50.00$55.00$55.00$52.50
ATM IV29.1%23.4%33.3%29.5%32.1%
Expected Move8.4%7.6%9.1%8.7%8.5%
HV 20d27.9%22.4%30.2%30.2%26.4%
HV 60d31.6%29.9%33.4%33.4%31.0%
IV Rank37.5%15.6%53.8%39.2%49.1%
IV Percentile62.7%26.2%86.1%66.3%77.8%
Term Structure0.9%-1.6%5.0%0.1%-1.3%
VWIV29.5%26.6%31.3%30.9%30.6%
Skew 25d2.5%0.8%4.0%0.8%3.3%
Skew 10d4.3%-1.6%8.9%1.0%5.4%
Call IV 25d28.5%22.9%33.0%29.9%32.6%
Put IV 25d31.0%24.7%36.6%30.7%35.8%
Bid-Ask Spread %19.2110.8143.0822.9914.09
Gamma HHI0.130.110.170.160.12
Net GEX-8.3M-16.0M-2.8M-8.9M-2.8M
Net DEX194.0M45.5M273.4M135.7M45.5M
Net VEX-1.2M-1.4M-1.1M-1.4M-1.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.320.423.051.380.42
Total Volume18,868.9528,59645,11945,11923,819
Total OI206,499.143181,401242,951207,010206,067

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2019-03-01$54.51$55.0029.5%8.7%30.2%39.2%30.9%0.8%0.1%-8.9M135.7M-1.4M1.3822.9918,98326,13692,912114,098
2019-03-04$53.83$55.0029.5%8.9%30.0%39.0%31.3%2.1%0.2%-11.3M147.6M-1.4M0.5315.2511,9286,27397,873111,621
2019-03-05$53.65$55.0028.2%8.2%29.0%33.9%29.3%1.4%1.0%-16.0M183.9M-1.4M1.6627.724,6087,648102,966120,736
2019-03-06$53.16$55.0028.3%8.0%29.0%34.3%28.8%2.1%0.2%-13.8M197.4M-1.4M0.8443.085,2724,430104,111114,947
2019-03-07$52.32$55.0028.1%8.0%29.3%33.4%29.3%2.5%0.8%-13.1M263.0M-1.3M2.2221.516,75915,001106,114116,684
2019-03-08$51.70$55.0027.7%7.9%29.4%32.2%27.2%2.7%0.1%-7.6M248.8M-1.2M1.6734.263,9776,635108,903105,031
2019-03-11$51.59$52.5026.8%8.0%29.3%28.4%28.4%2.0%-0.3%-7.7M237.6M-1.1M1.1811.828,87810,45597,378102,168
2019-03-12$50.40$52.5029.0%8.4%29.0%37.1%28.5%3.3%0.9%-6.1M273.4M-1.1M1.3812.4414,37519,800102,736105,477
2019-03-13$50.58$50.0032.2%8.7%29.3%49.3%30.9%3.2%-1.3%-7.5M253.5M-1.2M3.0538.189,95530,322108,920116,486
2019-03-14$51.15$50.0028.0%8.3%29.5%33.3%28.6%2.7%0.3%-9.0M242.5M-1.2M1.7410.848,37214,543113,471124,582
2019-03-15$51.47$50.0024.3%7.6%29.8%19.1%26.6%2.3%0.0%-6.6M223.5M-1.2M0.6012.6017,16410,333117,690125,261
2019-03-18$51.05$0.0023.4%8.4%29.8%15.6%28.7%1.8%5.0%-6.4M149.3M-1.2M1.5113.674,2696,44188,98592,416
2019-03-19$50.55$50.0025.5%8.2%29.6%23.4%29.4%1.0%4.9%-6.6M170.3M-1.2M1.2711.684,8366,12591,21296,346
2019-03-20$49.74$50.0027.8%8.3%22.4%32.6%29.1%2.6%3.7%-7.7M201.8M-1.2M1.1619.715,1035,90593,32897,107
2019-03-21$50.91$50.0027.7%8.4%24.5%32.1%29.5%2.5%4.7%-5.9M144.7M-1.2M0.8110.814,7423,85494,84398,504
2019-03-22$49.45$50.0030.5%8.7%26.0%42.9%30.0%2.9%4.9%-8.6M212.1M-1.2M1.2724.153,9294,98595,69399,753
2019-03-25$48.75$52.5033.3%9.1%25.8%53.6%30.9%4.0%-0.5%-7.1M220.8M-1.1M1.4614.585,3007,74290,26994,877
2019-03-26$48.62$52.5033.3%9.1%25.8%53.4%31.3%2.8%-0.9%-7.3M223.6M-1.1M1.2216.965,5886,80492,99099,382
2019-03-27$50.09$52.5033.3%8.7%28.6%53.8%30.6%3.4%-0.8%-8.0M167.0M-1.2M1.1315.225,3036,00394,807101,961
2019-03-28$50.43$52.5033.0%8.6%24.3%52.6%30.3%2.4%-1.6%-6.8M131.4M-1.2M1.1411.7511,02812,62596,970100,807
2019-03-29$52.06$52.5032.1%8.5%26.4%49.1%30.6%3.3%-1.3%-2.8M45.5M-1.3M0.4214.0916,7387,081104,184101,883