LUV Options History — July 2021

In July 2021, LUV traded between $48.33 and $53.91. ATM implied volatility averaged 33.5%, placing in the 15.8% IV rank vs the trailing year. The 30-day expected move averaged 9.3%. IV traded above realized volatility by 3.8% (HV 20d: 29.7%). Max pain ranged from $52.00 to $55.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.42.

Notable Days

2021-07-21: Highest Volume — 82,091 contracts
2021-07-19: Largest IV spike — 19.9% change
2021-07-19: Highest IV Rank — 35.1%
2021-07-19: Largest Expected Move — 11.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$51.66	$48.33	$53.91	$53.91	$50.44
Max Pain	$52.62	$52.00	$55.00	$54.00	$52.00
ATM IV	33.5%	31.1%	39.9%	33.1%	32.7%
Expected Move	9.3%	7.6%	11.5%	7.6%	9.3%
HV 20d	29.7%	16.6%	42.1%	16.9%	42.1%
HV 60d	27.8%	24.1%	31.9%	24.1%	31.7%
IV Rank	15.8%	11.5%	35.1%	12.2%	16.3%
IV Percentile	18.0%	11.1%	32.1%	16.3%	16.7%
Term Structure	-0.5%	-3.6%	1.9%	-0.3%	-1.0%
VWIV	32.7%	27.0%	40.0%	27.0%	33.0%
Skew 25d	2.3%	0.2%	5.3%	0.7%	3.8%
Skew 10d	5.3%	0.4%	18.1%	1.9%	8.8%
Call IV 25d	33.2%	30.1%	39.8%	33.2%	31.9%
Put IV 25d	35.5%	32.7%	42.7%	33.8%	35.7%
Bid-Ask Spread %	9.33	2.07	31.76	6.41	4.66
Gamma HHI	0.08	0.06	0.10	0.07	0.08
Net GEX	10.7M	3.3M	18.0M	11.5M	6.9M
Net DEX	-121.2M	-354.6M	55.6M	-156.3M	-90.3M
Net VEX	-2.8M	-3.2M	-2.5M	-2.5M	-3.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.42	0.16	0.80	0.28	0.58
Total Volume	43,456.143	15,820	82,091	39,742	40,514
Total OI	389,071.19	343,320	438,198	351,594	418,883

Daily Data (21 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
2021-07-01	$53.91	$54.00	33.1%	7.6%	16.9%	12.2%	27.0%	0.7%	-0.3%	11.5M	-156.3M	-2.5M	0.28	6.41	31,013	8,729	221,653	129,941
2021-07-02	$53.61	$54.00	32.7%	7.6%	16.6%	11.5%	27.5%	0.2%	0.0%	10.8M	-137.8M	-2.6M	0.49	6.52	23,243	11,331	227,113	132,632
2021-07-06	$52.42	$55.00	33.1%	9.4%	17.8%	12.2%	33.2%	0.2%	1.2%	6.4M	-68.4M	-2.5M	0.45	2.07	34,960	15,650	217,614	125,706
2021-07-07	$51.39	$52.50	34.3%	9.3%	17.0%	14.7%	33.0%	1.8%	-1.7%	4.6M	-4.7M	-2.5M	0.43	3.82	30,514	13,045	226,958	135,906
2021-07-08	$51.00	$52.50	35.7%	10.0%	16.9%	17.6%	34.7%	1.2%	-0.9%	4.7M	7.9M	-2.6M	0.35	3.41	36,013	12,702	233,816	140,649
2021-07-09	$52.86	$52.50	32.7%	9.3%	22.5%	11.5%	33.2%	1.3%	-0.2%	13.1M	-140.6M	-2.7M	0.33	8.32	31,124	10,128	243,418	143,376
2021-07-12	$52.91	$52.50	34.3%	9.5%	22.6%	14.8%	33.3%	0.7%	-1.0%	13.0M	-145.4M	-2.7M	0.21	2.46	37,985	7,802	235,011	138,034
2021-07-13	$51.57	$52.50	34.2%	9.6%	23.8%	15.9%	33.7%	0.6%	-1.2%	9.5M	-62.3M	-2.7M	0.28	2.35	28,875	8,004	253,350	141,387
2021-07-14	$51.75	$52.50	33.2%	9.2%	23.9%	13.9%	32.2%	1.7%	-0.3%	10.6M	-73.5M	-2.7M	0.23	2.45	30,866	7,206	261,851	143,760
2021-07-15	$51.76	$52.50	32.4%	9.2%	24.0%	12.0%	32.9%	1.8%	-0.6%	10.0M	-78.9M	-2.8M	0.31	9.55	22,063	6,905	262,394	144,033
2021-07-16	$49.76	$52.50	33.3%	9.2%	26.5%	15.3%	32.7%	2.6%	-1.7%	4.6M	55.6M	-2.5M	0.42	3.13	27,268	11,341	266,102	145,072
2021-07-19	$48.33	$52.50	39.9%	11.5%	27.7%	35.1%	40.0%	3.0%	-1.6%	3.3M	20.1M	-2.5M	0.33	3.73	52,053	17,036	216,392	127,209
2021-07-20	$51.48	$52.50	34.8%	9.9%	36.7%	21.7%	34.2%	4.9%	-3.6%	11.5M	-187.4M	-2.9M	0.16	22.08	56,226	8,920	238,856	133,011
2021-07-21	$53.32	$52.50	32.9%	9.4%	39.2%	16.8%	33.4%	2.1%	0.5%	18.0M	-354.6M	-3.2M	0.32	18.01	62,038	20,053	259,231	137,052
2021-07-22	$51.34	$52.50	33.1%	9.5%	41.2%	17.5%	33.1%	2.9%	-1.4%	11.1M	-166.9M	-3.0M	0.45	13.09	42,621	19,121	273,026	147,040
2021-07-23	$50.70	$52.00	31.1%	8.9%	41.2%	11.8%	31.3%	2.6%	0.5%	13.0M	-124.1M	-3.0M	0.75	4.47	32,211	24,122	286,479	151,719
2021-07-26	$51.67	$52.00	32.8%	9.3%	42.0%	16.6%	32.4%	3.2%	1.9%	15.0M	-214.7M	-3.1M	0.31	29.40	25,133	7,788	252,856	133,516
2021-07-27	$51.05	$52.00	33.3%	9.6%	41.3%	18.0%	34.0%	3.2%	-0.1%	12.5M	-165.7M	-3.0M	0.50	31.76	10,576	5,244	259,155	143,471
2021-07-28	$51.89	$52.00	32.0%	9.0%	41.8%	14.3%	32.2%	4.1%	0.0%	16.7M	-238.4M	-3.1M	0.80	13.20	12,945	10,403	262,197	146,838
2021-07-29	$51.74	$52.00	31.2%	8.5%	41.7%	12.0%	30.3%	5.3%	0.3%	17.5M	-219.2M	-3.1M	0.79	4.94	10,480	8,328	264,070	149,718
2021-07-30	$50.44	$52.00	32.7%	9.3%	42.1%	16.3%	33.0%	3.8%	-1.0%	6.9M	-90.3M	-3.0M	0.58	4.66	25,705	14,809	265,196	153,687