LUV Options History — May 2021

In May 2021, LUV traded between $58.25 and $62.48. ATM implied volatility averaged 31.9%, placing in the 5.7% IV rank vs the trailing year. The 30-day expected move averaged 9.1%. IV traded above realized volatility by 5.1% (HV 20d: 26.9%). Max pain ranged from $45.00 to $61.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 18 of 20 days. Put/call ratio averaged 0.58.

Notable Days

  • 2021-05-14: Highest Volume — 27,385 contracts
  • 2021-05-10: Largest IV spike — 12.5% change
  • 2021-05-12: Highest IV Rank — 15.2%
  • 2021-05-12: Largest Expected Move — 10.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$60.91$58.25$62.48$62.23$61.34
Max Pain$47.73$45.00$61.50$61.50$47.50
ATM IV31.9%28.4%37.0%30.1%29.3%
Expected Move9.1%7.9%10.8%8.5%7.9%
HV 20d26.9%19.2%31.1%19.2%30.3%
HV 60d31.6%30.5%33.1%31.7%30.5%
IV Rank5.7%0.0%15.2%0.0%1.7%
IV Percentile3.2%0.0%9.1%0.0%0.8%
Term Structure0.4%-1.3%1.9%0.4%1.9%
VWIV32.2%28.0%37.8%30.5%28.0%
Skew 25d2.3%-0.0%4.3%1.6%-0.0%
Skew 10d7.0%1.1%22.3%3.8%3.9%
Call IV 25d31.4%28.5%36.4%30.1%29.8%
Put IV 25d33.7%29.5%40.8%31.7%29.8%
Bid-Ask Spread %8.482.8743.007.296.56
Gamma HHI0.100.080.150.090.11
Net GEX12.3M6.1M20.2M12.4M15.9M
Net DEX-463.1M-556.1M-319.3M-519.7M-497.7M
Net VEX-2.1M-2.2M-2.0M-2.1M-2.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.580.330.970.620.41
Total Volume16,453.310,33427,38514,64415,909
Total OI294,315.8274,121320,163274,121300,851

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2021-05-03$62.23$61.5030.1%8.5%19.2%0.0%30.5%1.6%0.4%12.4M-519.7M-2.1M0.627.299,0185,626170,131103,990
2021-05-04$60.38$61.5032.4%9.4%20.9%4.2%33.1%2.3%0.8%9.0M-431.9M-2.1M0.714.078,4315,988174,088105,744
2021-05-05$60.91$61.5031.2%8.7%21.2%1.9%30.5%2.0%0.7%10.3M-457.8M-2.1M0.3312.5913,3874,419176,607108,741
2021-05-06$60.53$45.0031.1%9.3%21.2%1.8%32.8%0.4%0.2%9.4M-431.1M-2.2M0.4213.447,2973,037180,759109,688
2021-05-07$61.62$45.0028.4%8.8%22.4%0.0%31.0%1.0%0.2%12.8M-510.9M-2.0M0.6425.0611,5247,369181,825110,274
2021-05-10$61.59$45.0032.0%9.1%22.2%6.3%32.1%1.8%0.6%12.3M-496.6M-2.1M0.488.4412,4575,959174,935107,181
2021-05-11$59.66$45.0033.7%9.7%24.4%9.4%34.5%2.6%0.1%8.3M-390.0M-2.1M0.434.3912,0955,254180,728110,181
2021-05-12$58.25$45.0037.0%10.8%25.5%15.2%37.8%4.3%0.4%6.1M-319.3M-2.1M0.978.848,8238,588184,238112,122
2021-05-13$60.16$45.0034.1%9.9%28.5%10.0%34.9%1.7%0.6%9.2M-410.3M-2.1M0.606.188,8705,307186,503116,317
2021-05-14$62.20$45.0031.6%9.1%31.1%5.5%32.4%2.7%0.2%20.2M-556.1M-2.1M0.403.4019,5627,823187,386117,723
2021-05-17$62.16$45.0033.3%9.6%31.0%8.7%34.2%2.7%-0.7%13.8M-529.4M-2.1M0.712.876,9284,952181,250112,390
2021-05-18$62.48$45.0033.0%9.5%28.4%8.5%33.5%3.7%0.9%15.7M-550.6M-2.1M0.513.0311,8706,038183,794114,525
2021-05-19$60.16$45.0035.4%10.2%30.0%13.0%35.6%4.0%-1.3%7.7M-403.2M-2.2M0.8843.0013,34211,784186,039116,825
2021-05-20$60.01$45.0033.3%9.5%29.9%9.0%33.5%3.3%0.2%7.6M-394.8M-2.2M0.663.539,0255,933190,673122,547
2021-05-21$60.03$45.0031.7%9.0%29.9%6.1%31.8%2.8%0.3%13.2M-400.8M-2.2M0.442.9011,1804,950194,297125,866
2021-05-24$60.91$45.0030.8%8.5%30.3%4.3%29.7%3.0%0.1%13.1M-474.4M-2.1M0.423.618,2303,425172,658108,059
2021-05-25$60.72$45.0030.6%8.7%30.2%4.0%30.5%2.8%0.4%14.0M-466.9M-2.1M0.413.3214,3265,818176,315109,483
2021-05-26$61.26$45.0030.3%8.3%30.3%3.6%29.2%1.9%0.6%16.1M-499.0M-2.1M0.713.777,7785,543180,315112,525
2021-05-27$61.57$47.5029.2%8.1%30.4%1.4%29.0%1.5%0.4%18.7M-521.1M-2.1M0.773.426,3394,862183,261115,482
2021-05-28$61.34$47.5029.3%7.9%30.3%1.7%28.0%-0.0%1.9%15.9M-497.7M-2.1M0.416.5611,2714,638184,364116,487