LUV Options History — May 2022

In May 2022, LUV traded between $41.96 and $48.12. ATM implied volatility averaged 42.2%, placing in the 46.9% IV rank vs the trailing year. The 30-day expected move averaged 12.2%. IV traded above realized volatility by 1.0% (HV 20d: 41.2%). Max pain ranged from $43.00 to $46.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 0.70.

Notable Days

  • 2022-05-09: Highest Volume — 28,563 contracts
  • 2022-05-09: Largest IV spike — 10.0% change
  • 2022-05-12: Highest IV Rank — 65.9%
  • 2022-05-12: Largest Expected Move — 13.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$44.47$41.96$48.12$46.36$45.91
Max Pain$44.93$43.00$46.50$46.50$43.00
ATM IV42.2%36.6%48.3%44.3%37.4%
Expected Move12.2%10.5%13.6%12.9%11.0%
HV 20d41.2%36.3%45.3%42.8%44.6%
HV 60d43.9%42.5%45.2%42.5%44.7%
IV Rank46.9%29.6%65.9%53.5%31.9%
IV Percentile83.1%58.7%96.0%92.9%62.7%
Term Structure-0.3%-1.6%0.6%-0.1%-0.5%
VWIV42.9%37.8%47.2%46.4%39.9%
Skew 25d7.0%4.8%9.0%6.7%6.3%
Skew 10d16.2%12.0%28.0%13.7%12.0%
Call IV 25d39.8%33.8%45.5%41.2%35.5%
Put IV 25d46.8%39.8%53.5%47.9%41.7%
Bid-Ask Spread %5.213.257.974.494.08
Gamma HHI0.100.070.150.140.08
Net GEX4.6M301.1K13.6M8.2M5.6M
Net DEX-74.2M-284.6M48.9M-181.4M-142.7M
Net VEX-2.3M-2.8M-2.0M-2.7M-2.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.700.411.220.771.22
Total Volume18,154.38111,34428,56318,61313,840
Total OI320,330.905277,821340,890328,704287,999

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2022-05-02$46.36$46.5044.3%12.9%42.8%53.5%46.4%6.7%-0.1%8.2M-181.4M-2.7M0.774.4910,5348,079203,979124,725
2022-05-03$47.09$46.5041.9%12.2%43.1%45.9%44.2%6.5%0.2%10.5M-221.2M-2.8M0.655.339,1025,949206,944127,935
2022-05-04$48.12$46.5038.6%11.0%43.3%35.7%41.0%5.8%0.3%13.6M-284.6M-2.7M0.945.405,8555,489208,628128,255
2022-05-05$46.87$45.0040.8%11.6%42.6%42.4%44.2%6.5%-0.1%10.6M-203.7M-2.7M0.656.769,0485,908210,037128,976
2022-05-06$45.97$45.0041.5%12.2%42.0%44.8%41.6%7.0%-0.2%7.9M-147.1M-2.6M1.054.279,3969,825211,288129,602
2022-05-09$43.80$45.0045.7%12.7%44.3%57.7%45.9%7.4%-1.6%3.9M-33.4M-2.4M0.705.2116,78011,783203,752123,510
2022-05-10$44.55$45.0045.1%12.7%43.5%56.0%47.2%4.8%0.1%5.1M-70.0M-2.5M1.137.976,3127,141205,821124,650
2022-05-11$43.09$45.0046.2%13.4%45.3%59.4%44.5%6.9%0.2%2.3M-255.5K-2.3M0.555.008,8134,830206,743125,477
2022-05-12$42.02$45.0048.3%13.6%36.3%65.9%46.7%8.0%-1.3%989.2K48.9M-2.2M0.466.2813,0805,992207,910125,993
2022-05-13$43.07$45.0043.7%12.5%37.1%51.5%43.1%7.2%0.3%2.0M9.4M-2.3M0.744.659,1906,769208,928126,639
2022-05-16$43.18$45.0043.1%12.4%37.0%49.9%42.5%7.7%-1.5%1.9M7.5M-2.2M0.454.2815,5086,901204,435122,853
2022-05-17$45.07$45.0039.2%11.2%39.2%37.5%38.5%7.5%-0.2%5.4M-79.2M-2.3M0.423.2512,6265,268203,474124,360
2022-05-18$44.11$45.0042.3%12.1%39.7%47.1%44.6%8.2%-0.4%3.6M-31.8M-2.2M0.663.4512,1058,039204,751125,071
2022-05-19$43.79$45.0041.4%11.8%38.8%44.3%42.2%7.9%0.6%2.6M-9.4M-2.2M0.656.0210,9627,162208,461127,330
2022-05-20$42.52$45.0043.7%12.6%39.0%51.6%43.0%9.0%-1.1%798.6K41.2M-2.1M0.416.3619,4308,043209,671127,726
2022-05-23$43.20$45.0041.4%12.1%39.5%44.3%42.8%7.1%-0.0%1.6M-21.6M-2.1M0.856.429,3857,931166,036111,785
2022-05-24$41.96$45.0043.5%12.9%39.3%50.9%44.0%7.4%0.1%301.1K21.1M-2.0M0.746.039,4166,938168,297114,803
2022-05-25$42.42$45.0042.9%12.5%38.6%49.0%41.5%6.9%0.1%536.8K7.4M-2.1M0.706.6911,9168,284170,640118,132
2022-05-26$45.03$43.0039.1%11.5%44.3%37.1%39.1%6.2%0.2%5.0M-116.7M-2.2M0.484.0914,3986,952174,218118,547
2022-05-27$45.67$43.0036.6%10.5%44.7%29.6%37.8%6.0%-0.3%4.8M-151.1M-2.2M0.443.4511,3254,938178,380120,188
2022-05-31$45.91$43.0037.4%11.0%44.6%31.9%39.9%6.3%-0.5%5.6M-142.7M-2.2M1.224.086,2267,614172,019115,980