LUV Options History — August 2021

In August 2021, LUV traded between $47.44 and $51.80. ATM implied volatility averaged 33.3%, placing in the 18.2% IV rank vs the trailing year. The 30-day expected move averaged 9.6%. IV traded below realized volatility by 3.9% (HV 20d: 37.3%). Max pain ranged from $50.00 to $52.50. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 8 of 22 days. Put/call ratio averaged 0.56.

Notable Days

2021-08-30: Highest Volume — 78,592 contracts
2021-08-06: Largest IV drop — 8.1% change
2021-08-19: Highest IV Rank — 27.4%
2021-08-17: Largest Expected Move — 10.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$49.87	$47.44	$51.80	$49.85	$49.66
Max Pain	$51.30	$50.00	$52.50	$52.00	$50.00
ATM IV	33.3%	30.9%	36.5%	32.7%	31.2%
Expected Move	9.6%	9.1%	10.4%	9.1%	9.1%
HV 20d	37.3%	28.9%	44.1%	42.2%	34.9%
HV 60d	31.6%	30.4%	33.0%	31.7%	32.7%
IV Rank	18.2%	11.2%	27.4%	16.3%	11.9%
IV Percentile	22.1%	9.9%	34.5%	17.1%	12.3%
Term Structure	-0.6%	-8.4%	1.8%	-1.4%	-0.1%
VWIV	34.2%	31.6%	38.1%	32.5%	31.6%
Skew 25d	3.6%	1.3%	6.0%	5.5%	4.1%
Skew 10d	9.4%	1.6%	20.8%	20.8%	6.3%
Call IV 25d	32.8%	29.1%	36.3%	32.2%	29.1%
Put IV 25d	36.4%	32.6%	42.2%	37.7%	33.2%
Bid-Ask Spread %	7.84	2.44	16.02	11.52	14.90
Gamma HHI	0.12	0.07	0.53	0.09	0.11
Net GEX	7.9M	-21.2M	17.5M	5.9M	13.7M
Net DEX	-124.4M	-339.1M	62.2M	-67.7M	-179.5M
Net VEX	-3.1M	-3.6M	-2.8M	-2.8M	-3.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.56	0.22	1.50	0.25	0.39
Total Volume	36,933.591	21,663	78,592	26,670	21,663
Total OI	435,007.273	384,123	484,258	384,123	483,821

Daily Data (22 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
2021-08-02	$49.85	$52.00	32.7%	9.1%	42.2%	16.3%	32.5%	5.5%	-1.4%	5.9M	-67.7M	-2.8M	0.25	11.52	21,252	5,418	241,116	143,007
2021-08-03	$50.41	$52.00	34.4%	9.1%	41.9%	21.1%	33.0%	2.3%	-0.1%	8.0M	-103.7M	-2.9M	0.60	6.86	15,177	9,112	250,465	150,963
2021-08-04	$48.91	$52.00	35.0%	9.9%	42.6%	22.9%	36.1%	5.0%	-0.7%	1.7M	3.9M	-2.8M	0.86	5.29	20,696	17,861	250,268	153,336
2021-08-05	$50.39	$52.50	33.7%	10.0%	44.1%	19.1%	34.5%	3.3%	-0.4%	8.1M	-99.3M	-3.0M	0.32	8.34	25,969	8,292	253,909	156,392
2021-08-06	$50.59	$52.50	30.9%	9.6%	42.0%	11.2%	33.3%	3.3%	-8.4%	10.4M	-133.2M	-3.0M	0.86	8.21	15,098	12,914	260,304	163,256
2021-08-09	$49.77	$52.50	33.3%	9.8%	42.3%	18.0%	34.2%	2.9%	1.0%	7.0M	-89.4M	-2.9M	0.57	2.44	18,180	10,430	250,472	152,737
2021-08-10	$51.06	$52.50	32.4%	9.7%	42.5%	15.4%	33.3%	3.6%	1.2%	11.4M	-171.9M	-3.0M	0.51	3.74	18,640	9,597	253,282	156,729
2021-08-11	$51.80	$52.50	32.9%	9.3%	42.9%	16.8%	33.4%	2.5%	-0.6%	15.8M	-250.6M	-3.1M	0.45	16.02	30,108	13,579	259,592	162,630
2021-08-12	$50.94	$52.50	33.0%	9.7%	43.3%	17.2%	33.6%	2.6%	1.8%	11.8M	-163.1M	-3.0M	0.45	3.13	32,990	14,949	259,520	164,993
2021-08-13	$50.38	$52.50	32.1%	9.3%	41.0%	14.6%	33.9%	1.3%	0.4%	4.9M	-105.1M	-3.0M	0.89	7.64	17,094	15,280	271,250	170,512
2021-08-16	$50.02	$52.50	34.1%	9.8%	39.6%	20.2%	34.4%	4.1%	-0.2%	9.5M	-114.0M	-3.1M	0.35	12.45	21,842	7,540	280,659	158,419
2021-08-17	$48.59	$52.50	36.1%	10.4%	33.7%	26.2%	38.1%	4.3%	-1.4%	3.4M	-10.2M	-3.0M	0.53	7.28	23,971	12,738	287,442	162,780
2021-08-18	$48.61	$50.00	35.1%	10.1%	30.7%	23.4%	35.9%	4.7%	-3.7%	3.0M	-14.4M	-3.1M	0.61	12.18	21,865	13,374	297,995	166,637
2021-08-19	$47.44	$50.00	36.5%	10.4%	29.1%	27.4%	37.5%	6.0%	1.8%	-554.7K	61.3M	-3.0M	0.66	11.35	16,379	10,812	301,489	170,533
2021-08-20	$47.48	$50.00	34.5%	9.8%	28.9%	21.5%	34.3%	4.2%	0.8%	-21.2M	62.2M	-3.0M	1.50	7.66	13,212	19,867	305,916	174,205
2021-08-23	$48.84	$50.00	32.8%	9.5%	30.0%	16.5%	33.5%	3.5%	-0.1%	7.7M	-96.5M	-3.1M	0.43	2.92	26,230	11,169	260,741	143,746
2021-08-24	$50.89	$50.00	32.5%	9.5%	33.6%	15.7%	33.8%	3.1%	0.3%	11.8M	-244.8M	-3.3M	0.22	2.88	41,457	9,066	264,311	151,531
2021-08-25	$51.20	$50.00	33.2%	9.6%	33.1%	17.8%	35.2%	3.9%	-0.8%	15.8M	-304.3M	-3.5M	0.22	8.18	55,994	12,351	276,198	159,457
2021-08-26	$50.25	$50.00	33.1%	9.9%	33.7%	17.3%	34.7%	3.7%	-1.4%	14.5M	-221.9M	-3.4M	0.50	2.79	18,038	9,081	283,290	163,005
2021-08-27	$50.91	$50.00	31.8%	9.2%	32.9%	13.8%	32.3%	1.7%	0.5%	17.5M	-339.1M	-3.6M	0.76	2.92	19,662	15,000	317,871	166,387
2021-08-30	$49.16	$50.00	32.5%	9.3%	35.0%	15.8%	32.6%	2.7%	-1.5%	12.8M	-154.9M	-3.3M	0.26	13.79	62,151	16,441	310,157	158,837
2021-08-31	$49.66	$50.00	31.2%	9.1%	34.9%	11.9%	31.6%	4.1%	-0.1%	13.7M	-179.5M	-3.4M	0.39	14.90	15,608	6,055	318,093	165,728