LUV Options History — April 2021

In April 2021, LUV traded between $59.95 and $64.06. ATM implied volatility averaged 34.9%, placing in the 2.1% IV rank vs the trailing year. The 30-day expected move averaged 9.8%. IV traded above realized volatility by 6.8% (HV 20d: 28.0%). Max pain ranged from $60.00 to $61.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.51.

Notable Days

  • 2021-04-21: Highest Volume — 44,246 contracts
  • 2021-04-16: Largest IV drop — 8.2% change
  • 2021-04-20: Highest IV Rank — 6.9%
  • 2021-04-20: Largest Expected Move — 10.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$62.37$59.95$64.06$61.28$62.58
Max Pain$60.19$60.00$61.50$60.00$61.50
ATM IV34.9%30.5%38.0%37.2%32.4%
Expected Move9.8%8.7%10.8%8.8%9.0%
HV 20d28.0%21.7%39.1%38.3%21.8%
HV 60d34.7%32.8%36.1%35.8%32.8%
IV Rank2.1%0.0%6.9%0.0%3.5%
IV Percentile0.9%0.0%5.2%0.0%1.6%
Term Structure-0.1%-2.0%1.7%-0.0%0.0%
VWIV34.4%30.2%38.4%31.6%31.6%
Skew 25d1.4%-3.2%6.2%-0.4%0.3%
Skew 10d3.0%-1.0%6.9%5.0%3.9%
Call IV 25d35.3%29.8%41.8%39.3%32.7%
Put IV 25d36.7%32.0%44.0%39.0%33.0%
Bid-Ask Spread %9.932.8236.243.2811.87
Gamma HHI0.110.080.290.100.13
Net GEX16.4M10.6M24.8M16.6M17.6M
Net DEX-604.1M-730.6M-452.4M-605.3M-560.3M
Net VEX-2.2M-2.4M-2.1M-2.4M-2.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.510.291.060.340.46
Total Volume20,0049,79444,24616,60616,957
Total OI300,628.952272,567322,880310,582291,075

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2021-04-01$61.28$60.0037.2%8.8%38.3%0.0%31.6%-0.4%-0.0%16.6M-605.3M-2.4M0.343.2812,4274,179188,792121,790
2021-04-05$63.10$60.0035.0%10.3%39.1%0.0%36.2%4.9%-1.3%14.4M-675.5M-2.3M0.9736.245,2755,110179,913115,072
2021-04-06$64.06$60.0037.5%10.3%33.7%3.9%36.2%0.1%-2.0%16.4M-730.6M-2.2M0.348.6521,8927,518183,207116,639
2021-04-07$63.50$60.0036.6%10.4%32.6%2.5%36.2%0.8%0.4%18.6M-709.2M-2.2M0.395.5110,6524,187189,655119,532
2021-04-08$63.34$60.0036.9%10.3%32.4%3.2%36.4%-3.2%-0.6%20.6M-703.1M-2.2M0.6215.526,0393,755193,066120,973
2021-04-09$63.16$60.0035.8%10.0%32.4%1.3%36.2%1.6%-0.6%24.8M-695.4M-2.3M0.399.1616,3146,416194,233122,471
2021-04-12$62.61$60.0036.8%10.2%29.4%3.0%35.8%0.3%-1.2%16.7M-648.6M-2.2M0.464.8310,7244,933188,331116,540
2021-04-13$63.23$60.0037.1%10.4%28.9%3.6%36.5%1.2%-0.4%18.5M-691.5M-2.2M0.504.3015,3057,696192,401119,001
2021-04-14$62.97$60.0036.5%10.3%27.8%2.5%36.5%6.2%-1.3%19.4M-679.3M-2.2M0.424.1711,3174,790195,727120,954
2021-04-15$62.85$60.0037.3%10.3%27.3%3.9%36.0%0.1%-1.4%20.6M-673.9M-2.3M0.4023.4011,5304,661198,812121,693
2021-04-16$62.33$60.0034.2%9.7%27.1%0.0%34.6%-0.1%-0.1%23.3M-635.6M-2.2M0.292.8222,5816,601200,018122,862
2021-04-19$61.98$60.0035.8%10.2%27.1%2.9%36.3%1.7%0.4%13.4M-549.3M-2.2M0.433.3314,1976,047177,98999,198
2021-04-20$59.95$60.0038.0%10.8%28.0%6.9%38.4%2.4%1.2%10.6M-452.4M-2.2M0.605.2013,4078,036180,335103,145
2021-04-21$61.65$60.0035.8%10.3%25.4%2.9%35.8%2.4%1.7%13.5M-535.0M-2.2M0.554.2228,59615,650184,018107,262
2021-04-22$61.25$60.0033.0%9.4%25.6%0.0%33.2%2.2%0.5%14.5M-499.2M-2.3M0.3821.1628,54410,890192,794119,164
2021-04-23$61.49$60.0030.8%8.8%23.3%0.0%31.0%2.2%0.8%12.0M-519.3M-2.2M0.7317.8410,6917,815194,895120,619
2021-04-26$61.92$60.0032.5%9.2%22.4%3.1%31.9%2.4%0.6%11.5M-519.0M-2.2M0.416.9813,9455,767168,712103,855
2021-04-27$62.35$60.0031.3%9.0%22.4%1.0%31.6%1.1%1.1%13.5M-547.0M-2.2M0.577.426,8763,886172,667106,305
2021-04-28$61.97$61.0031.1%8.8%22.0%0.5%30.9%1.4%-0.3%13.0M-523.2M-2.1M1.068.475,0055,303174,589108,691
2021-04-29$62.16$61.5030.5%8.7%21.7%0.0%30.2%1.4%1.1%14.0M-533.3M-2.1M0.464.199,9744,596176,573109,640
2021-04-30$62.58$61.5032.4%9.0%21.8%3.5%31.6%0.3%0.0%17.6M-560.3M-2.2M0.4611.8711,6055,352179,792111,283