LUV Options History — October 2019

In October 2019, LUV traded between $52.05 and $57.66. ATM implied volatility averaged 27.9%, placing in the 28.1% IV rank vs the trailing year. The 30-day expected move averaged 7.8%. IV traded above realized volatility by 9.8% (HV 20d: 18.0%). Max pain ranged from $52.50 to $55.00. Net GEX was positive for 22 of 23 trading days. Term structure was in contango for 4 of 23 days. Put/call ratio averaged 1.01.

Notable Days

2019-10-24: Highest Volume — 17,533 contracts
2019-10-24: Largest IV drop — 18.9% change
2019-10-03: Highest IV Rank — 53.4%
2019-10-08: Largest Expected Move — 9.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$54.25	$52.05	$57.66	$53.56	$56.09
Max Pain	$53.04	$52.50	$55.00	$54.00	$55.00
ATM IV	27.9%	19.7%	34.3%	31.7%	20.1%
Expected Move	7.8%	5.6%	9.3%	7.7%	5.7%
HV 20d	18.0%	13.9%	24.4%	16.7%	22.4%
HV 60d	21.3%	19.6%	22.4%	21.5%	20.9%
IV Rank	28.1%	0.0%	53.4%	42.5%	1.6%
IV Percentile	53.5%	0.0%	92.5%	83.3%	1.2%
Term Structure	-0.6%	-2.4%	1.0%	-0.7%	1.0%
VWIV	27.3%	19.7%	31.9%	26.1%	20.7%
Skew 25d	3.6%	2.4%	5.0%	4.5%	3.1%
Skew 10d	8.3%	4.5%	15.7%	9.3%	11.8%
Call IV 25d	26.4%	18.2%	32.4%	29.5%	19.0%
Put IV 25d	30.1%	21.3%	36.8%	34.0%	22.1%
Bid-Ask Spread %	13.73	10.05	22.38	13.03	12.24
Gamma HHI	0.12	0.10	0.31	0.11	0.10
Net GEX	2.7M	-467.0K	14.0M	2.0M	693.8K
Net DEX	-39.3M	-125.6M	12.4M	-26.5M	-67.0M
Net VEX	-1.0M	-1.1M	-936.9K	-1.0M	-969.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.01	0.29	3.37	1.08	0.73
Total Volume	5,581.652	1,348	17,533	5,117	3,525
Total OI	126,230.783	112,754	143,081	112,754	134,007

Daily Data (23 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
2019-10-01	$53.56	$54.00	31.7%	7.7%	16.7%	42.5%	26.1%	4.5%	-0.7%	2.0M	-26.5M	-1.0M	1.08	13.03	2,458	2,659	57,846	54,908
2019-10-02	$52.05	$54.00	34.2%	8.6%	19.5%	52.9%	29.3%	4.1%	-1.4%	111.2K	12.4M	-1.0M	0.98	13.08	3,755	3,681	59,167	56,848
2019-10-03	$52.14	$52.50	34.3%	9.3%	19.2%	53.4%	31.9%	5.0%	-1.5%	16.1K	11.9M	-1.0M	0.68	12.85	2,462	1,670	59,875	58,550
2019-10-04	$52.74	$52.50	32.2%	8.7%	19.5%	44.8%	29.9%	3.9%	-0.9%	848.5K	-4.9M	-1.0M	0.29	15.65	2,390	699	61,283	59,034
2019-10-07	$53.01	$52.50	31.9%	8.9%	18.5%	43.6%	30.7%	3.7%	-0.7%	1.1M	-14.0M	-1.0M	3.37	14.06	1,151	3,878	59,616	58,075
2019-10-08	$53.14	$52.50	32.7%	9.3%	18.5%	46.8%	31.1%	3.8%	-0.2%	1.1M	-9.6M	-1.1M	0.56	19.02	1,274	717	60,335	61,580
2019-10-09	$53.54	$52.50	32.4%	9.3%	15.9%	45.5%	31.4%	4.1%	-0.1%	1.7M	-22.9M	-1.1M	0.31	14.84	5,671	1,750	60,615	61,917
2019-10-10	$53.64	$52.50	32.0%	9.1%	15.6%	43.7%	30.8%	3.8%	-0.6%	4.7M	-28.2M	-1.1M	0.52	10.56	3,863	2,004	64,462	63,255
2019-10-11	$54.15	$52.50	29.6%	8.3%	15.1%	33.8%	29.7%	3.9%	-0.1%	14.0M	-53.2M	-1.1M	0.71	17.95	2,079	1,471	65,783	64,644
2019-10-14	$54.05	$52.50	29.2%	8.3%	15.1%	32.0%	29.3%	3.6%	-0.2%	3.0M	-35.3M	-1.0M	0.71	12.06	786	562	62,183	62,825
2019-10-15	$54.25	$52.50	28.6%	8.1%	15.1%	29.5%	28.6%	3.7%	-0.8%	3.3M	-40.9M	-1.0M	0.32	10.92	2,156	696	62,366	63,086
2019-10-16	$53.74	$52.50	29.8%	8.5%	15.1%	34.4%	29.1%	3.1%	-1.7%	2.0M	-21.1M	-1.0M	0.86	11.63	914	784	63,112	63,468
2019-10-17	$53.83	$52.50	27.6%	7.9%	14.1%	25.1%	28.2%	2.8%	-0.2%	1.5M	-25.2M	-999.7K	3.15	14.87	1,186	3,740	63,238	63,879
2019-10-18	$53.62	$52.50	28.8%	8.5%	13.9%	30.6%	29.4%	3.2%	-2.4%	596.6K	-13.2M	-1.0M	1.68	13.32	3,256	5,476	63,892	65,598
2019-10-21	$53.25	$52.50	28.4%	8.5%	14.0%	28.5%	28.6%	2.8%	-1.7%	134.5K	-4.0M	-1.0M	0.86	13.53	3,615	3,098	57,298	64,277
2019-10-22	$52.84	$52.50	28.1%	8.4%	14.1%	27.6%	29.4%	4.6%	-1.7%	-467.0K	8.0M	-1.0M	1.82	15.29	2,081	3,791	59,075	67,186
2019-10-23	$53.28	$52.50	27.5%	8.2%	14.5%	25.1%	29.7%	3.5%	-1.4%	84.3K	-4.1M	-1.0M	1.26	22.38	5,620	7,085	59,696	68,604
2019-10-24	$56.14	$52.50	22.3%	6.2%	23.8%	3.1%	22.1%	3.2%	-1.0%	6.5M	-102.1M	-996.9K	0.81	14.70	9,706	7,827	63,161	74,362
2019-10-25	$56.67	$53.50	20.1%	5.6%	23.9%	0.0%	20.3%	3.9%	-0.5%	7.7M	-121.1M	-1.0M	0.53	10.77	5,397	2,860	64,348	78,733
2019-10-28	$57.66	$54.00	19.7%	5.6%	24.4%	0.0%	20.7%	3.2%	0.7%	4.4M	-125.6M	-936.9K	0.44	10.61	3,973	1,745	57,760	70,489
2019-10-29	$57.35	$54.50	19.7%	5.8%	24.0%	0.0%	20.4%	2.4%	0.8%	4.3M	-116.5M	-947.2K	0.85	12.31	1,378	1,170	58,741	70,841
2019-10-30	$57.00	$55.00	19.9%	5.7%	21.2%	0.8%	19.7%	3.5%	0.4%	1.8M	-101.3M	-965.5K	0.74	10.05	1,336	983	59,547	73,743
2019-10-31	$56.09	$55.00	20.1%	5.7%	22.4%	1.6%	20.7%	3.1%	1.0%	693.8K	-67.0M	-969.3K	0.73	12.24	2,035	1,490	60,153	73,854