LUV Options History — April 2022

In April 2022, LUV traded between $41.40 and $48.40. ATM implied volatility averaged 41.5%, placing in the 44.6% IV rank vs the trailing year. The 30-day expected move averaged 11.9%. IV traded above realized volatility by 4.0% (HV 20d: 37.4%). Max pain ranged from $42.50 to $46.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 4 of 20 days. Put/call ratio averaged 0.40.

Notable Days

2022-04-21: Highest Volume — 82,399 contracts
2022-04-28: Largest IV drop — 10.3% change
2022-04-26: Highest IV Rank — 62.3%
2022-04-26: Largest Expected Move — 14.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$45.54	$41.40	$48.40	$45.77	$46.86
Max Pain	$44.83	$42.50	$46.50	$45.00	$46.50
ATM IV	41.5%	36.4%	47.2%	36.8%	42.2%
Expected Move	11.9%	10.5%	14.0%	10.7%	12.1%
HV 20d	37.4%	27.6%	48.2%	48.2%	42.7%
HV 60d	41.4%	38.2%	43.7%	38.7%	42.6%
IV Rank	44.6%	28.7%	62.3%	30.2%	46.8%
IV Percentile	85.9%	66.7%	94.8%	72.6%	86.9%
Term Structure	-0.5%	-1.8%	0.3%	-0.2%	-0.3%
VWIV	41.1%	35.5%	48.0%	35.9%	43.0%
Skew 25d	4.2%	2.8%	6.7%	3.4%	6.0%
Skew 10d	9.0%	6.0%	13.8%	6.0%	12.4%
Call IV 25d	40.3%	35.8%	44.5%	35.9%	40.6%
Put IV 25d	44.5%	38.7%	51.1%	39.3%	46.6%
Bid-Ask Spread %	5.38	3.40	7.79	6.24	5.74
Gamma HHI	0.15	0.11	0.21	0.15	0.15
Net GEX	11.1M	4.4M	19.7M	9.9M	12.7M
Net DEX	-198.7M	-380.2M	-2.9M	-186.1M	-223.1M
Net VEX	-2.7M	-3.0M	-2.5M	-2.7M	-2.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.40	0.13	0.84	0.38	0.62
Total Volume	32,200.5	15,672	82,399	34,954	28,952
Total OI	350,492.9	316,849	383,614	321,026	373,539

Daily Data (20 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
2022-04-01	$45.77	$45.00	36.8%	10.7%	48.2%	30.2%	35.9%	3.4%	-0.2%	9.9M	-186.1M	-2.7M	0.38	6.24	25,375	9,579	201,804	119,222
2022-04-04	$45.95	$45.00	36.4%	10.5%	31.9%	28.7%	35.5%	2.9%	-0.1%	12.5M	-185.9M	-2.7M	0.48	5.77	11,427	5,462	202,955	113,894
2022-04-05	$45.34	$45.00	38.4%	10.6%	27.6%	35.0%	36.5%	4.2%	-0.7%	11.5M	-153.7M	-2.7M	0.84	6.96	8,535	7,137	207,996	115,662
2022-04-06	$43.86	$45.00	40.0%	11.0%	28.4%	40.0%	38.1%	4.4%	-0.1%	7.7M	-67.2M	-2.6M	0.53	7.79	13,260	7,024	209,854	118,237
2022-04-07	$42.67	$45.00	42.0%	12.0%	30.5%	46.3%	41.0%	4.0%	-0.9%	4.9M	-18.5M	-2.5M	0.13	6.57	50,166	6,431	213,551	118,315
2022-04-08	$41.40	$42.50	42.5%	11.9%	32.3%	47.8%	42.0%	3.7%	-0.1%	4.4M	-2.9M	-2.5M	0.18	6.53	26,488	4,781	242,979	120,209
2022-04-11	$42.65	$42.50	43.7%	12.5%	33.5%	51.4%	42.5%	3.0%	0.3%	8.7M	-85.0M	-2.6M	0.31	5.51	17,148	5,399	244,393	117,880
2022-04-12	$42.62	$42.50	43.1%	12.3%	29.7%	49.8%	42.4%	3.9%	0.2%	8.7M	-75.2M	-2.6M	0.39	3.66	11,777	4,633	248,039	120,628
2022-04-13	$45.98	$42.50	41.6%	11.9%	39.3%	45.2%	41.1%	2.8%	0.0%	19.7M	-316.7M	-2.9M	0.28	5.74	35,950	10,002	252,359	122,081
2022-04-14	$46.75	$42.50	40.0%	11.2%	39.5%	40.1%	40.0%	3.3%	-1.5%	13.8M	-374.3M	-3.0M	0.27	6.51	29,538	8,014	258,295	125,319
2022-04-18	$46.23	$45.00	41.5%	11.8%	39.4%	44.8%	40.9%	3.8%	-0.5%	13.9M	-264.0M	-2.9M	0.61	3.64	18,765	11,363	230,070	111,136
2022-04-19	$47.48	$45.00	39.6%	11.3%	39.2%	38.8%	39.5%	3.5%	0.3%	14.2M	-321.4M	-2.9M	0.31	3.40	18,749	5,833	222,907	116,967
2022-04-20	$47.46	$45.00	38.7%	11.1%	39.1%	36.0%	38.7%	4.1%	-0.2%	15.2M	-321.7M	-2.9M	0.20	3.61	25,522	5,075	228,914	118,144
2022-04-21	$48.40	$45.00	39.9%	11.5%	39.2%	39.6%	39.4%	4.1%	-0.5%	16.2M	-380.2M	-2.9M	0.14	5.60	72,397	10,002	225,767	119,439
2022-04-22	$47.11	$46.50	43.4%	12.5%	40.3%	50.5%	43.5%	4.3%	-0.8%	9.6M	-283.0M	-2.9M	0.50	5.17	15,704	7,827	245,607	125,951
2022-04-25	$46.45	$46.50	44.8%	13.0%	40.7%	54.9%	46.0%	4.8%	-1.7%	9.2M	-191.9M	-2.7M	0.61	4.62	11,707	7,104	223,236	118,264
2022-04-26	$45.04	$46.50	47.2%	14.0%	42.3%	62.3%	48.0%	6.7%	-1.8%	7.4M	-123.1M	-2.7M	0.49	4.46	20,575	10,182	226,292	121,217
2022-04-27	$46.01	$46.50	46.3%	13.8%	42.4%	59.6%	47.5%	6.3%	-1.4%	9.4M	-178.5M	-2.7M	0.36	5.00	27,531	9,836	231,564	125,938
2022-04-28	$46.76	$46.50	41.5%	11.9%	42.7%	44.8%	41.5%	5.5%	-0.9%	13.3M	-220.7M	-2.7M	0.36	5.17	28,458	10,302	241,779	129,455
2022-04-29	$46.86	$46.50	42.2%	12.1%	42.7%	46.8%	43.0%	6.0%	-0.3%	12.7M	-223.1M	-2.8M	0.62	5.74	17,892	11,060	241,184	132,355