LUV Options History — July 2022

In July 2022, LUV traded between $36.40 and $41.62. ATM implied volatility averaged 44.0%, placing in the 49.4% IV rank vs the trailing year. The 30-day expected move averaged 12.4%. IV traded above realized volatility by 5.1% (HV 20d: 38.8%). Max pain ranged from $37.50 to $38.00. Net GEX was positive for 18 of 20 trading days. Term structure was in contango for 3 of 20 days. Put/call ratio averaged 0.62.

Notable Days

2022-07-28: Highest Volume — 44,787 contracts
2022-07-28: Largest IV drop — 9.7% change
2022-07-05: Highest IV Rank — 67.3%
2022-07-14: Largest Expected Move — 13.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$38.81	$36.40	$41.62	$36.77	$38.14
Max Pain	$37.58	$37.50	$38.00	$37.50	$38.00
ATM IV	44.0%	36.3%	49.4%	46.9%	36.3%
Expected Move	12.4%	10.1%	13.8%	12.8%	10.1%
HV 20d	38.8%	29.1%	47.2%	47.2%	42.4%
HV 60d	42.7%	41.3%	45.0%	45.0%	44.7%
IV Rank	49.4%	23.8%	67.3%	58.9%	23.8%
IV Percentile	78.1%	38.9%	95.2%	92.1%	38.9%
Term Structure	-0.6%	-1.3%	0.7%	-1.2%	0.5%
VWIV	43.2%	34.7%	48.4%	44.5%	34.7%
Skew 25d	6.9%	5.4%	8.9%	8.2%	5.7%
Skew 10d	14.7%	11.5%	23.5%	15.6%	11.5%
Call IV 25d	41.2%	33.6%	45.6%	43.6%	33.6%
Put IV 25d	48.1%	39.3%	54.0%	51.8%	39.3%
Bid-Ask Spread %	6.60	2.60	16.08	4.21	3.82
Gamma HHI	0.08	0.05	0.21	0.07	0.09
Net GEX	2.9M	-767.7K	5.5M	1.2M	1.4M
Net DEX	18.5M	-77.3M	93.8M	82.7M	71.2M
Net VEX	-1.6M	-1.9M	-1.5M	-1.5M	-1.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.62	0.39	1.04	0.42	0.50
Total Volume	20,432.6	10,939	44,787	18,191	18,304
Total OI	273,552.7	254,976	288,817	278,412	285,643

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
2022-07-01	$36.77	$37.50	46.9%	12.8%	47.2%	58.9%	44.5%	8.2%	-1.2%	1.2M	82.7M	-1.5M	0.42	4.21	12,770	5,421	167,930	110,482
2022-07-05	$36.47	$37.50	49.4%	13.2%	47.2%	67.3%	47.3%	8.9%	-0.4%	941.7K	92.8M	-1.5M	0.69	8.77	9,779	6,770	157,750	105,139
2022-07-06	$36.40	$37.50	49.0%	13.1%	46.3%	66.0%	48.4%	8.3%	-0.9%	1.1M	88.5M	-1.5M	0.67	13.84	6,545	4,394	160,507	107,155
2022-07-07	$36.67	$37.50	45.9%	12.7%	46.2%	55.7%	44.7%	7.8%	-0.8%	1.6M	81.8M	-1.5M	0.53	16.08	9,875	5,200	162,232	107,778
2022-07-08	$36.79	$37.50	44.3%	12.3%	45.6%	50.4%	40.6%	7.6%	-0.3%	2.2M	77.4M	-1.5M	0.45	10.50	13,176	5,886	167,146	108,587
2022-07-11	$36.76	$37.50	46.8%	13.0%	44.8%	58.5%	45.5%	7.3%	-1.1%	2.0M	77.0M	-1.5M	0.39	8.48	15,798	6,111	165,569	105,628
2022-07-12	$38.36	$37.50	48.0%	13.7%	45.9%	62.5%	47.3%	7.4%	-0.3%	3.8M	12.7M	-1.7M	0.47	6.85	22,482	10,551	169,451	107,292
2022-07-13	$38.80	$37.50	46.8%	13.0%	39.2%	58.5%	46.7%	7.2%	-1.3%	5.5M	-7.5M	-1.7M	0.50	7.63	19,136	9,555	176,837	110,035
2022-07-14	$38.39	$37.50	48.6%	13.8%	39.1%	64.6%	45.3%	6.5%	-0.6%	5.0M	9.0M	-1.7M	1.04	7.70	7,586	7,881	175,957	111,622
2022-07-15	$39.61	$37.50	44.1%	12.5%	40.5%	49.8%	44.3%	6.6%	-1.3%	4.1M	-42.1M	-1.7M	0.54	2.60	17,324	9,350	176,752	112,065
2022-07-18	$39.85	$37.50	45.3%	12.9%	29.7%	53.5%	43.4%	6.6%	-0.7%	3.7M	-13.5M	-1.7M	0.73	4.80	10,358	7,537	153,699	101,277
2022-07-19	$41.60	$37.50	43.0%	12.3%	32.0%	45.9%	42.6%	6.5%	-0.9%	5.4M	-77.3M	-1.9M	0.68	3.85	11,795	8,038	158,197	104,694
2022-07-20	$41.62	$37.50	41.6%	11.9%	31.8%	41.4%	42.1%	6.3%	-0.6%	5.4M	-76.2M	-1.8M	0.46	5.40	9,650	4,449	161,354	108,073
2022-07-21	$40.66	$37.50	41.2%	11.9%	33.7%	40.1%	41.8%	6.1%	-1.1%	3.9M	-35.2M	-1.8M	0.87	6.61	7,289	6,335	162,240	108,508
2022-07-22	$40.41	$37.50	41.0%	11.7%	34.0%	39.5%	41.9%	5.4%	0.6%	-390.4K	-21.0M	-1.8M	0.55	4.12	11,185	6,113	163,990	108,832
2022-07-25	$40.38	$37.50	42.3%	12.1%	29.4%	43.6%	42.7%	6.4%	-0.3%	3.7M	-15.8M	-1.8M	0.84	3.89	7,005	5,908	158,791	104,664
2022-07-26	$39.65	$37.50	42.5%	12.5%	29.1%	44.4%	42.0%	6.3%	-0.7%	3.0M	11.9M	-1.7M	0.58	3.47	13,280	7,696	160,896	106,732
2022-07-27	$40.99	$38.00	40.5%	11.6%	30.6%	37.9%	40.7%	6.7%	-0.5%	5.3M	-40.1M	-1.7M	0.82	3.69	12,829	10,504	165,969	109,660
2022-07-28	$37.90	$38.00	36.6%	10.5%	42.5%	24.9%	37.3%	6.2%	0.7%	-767.7K	93.8M	-1.5M	0.64	5.80	27,249	17,538	168,094	113,827
2022-07-29	$38.14	$38.00	36.3%	10.1%	42.4%	23.8%	34.7%	5.7%	0.5%	1.4M	71.2M	-1.5M	0.50	3.82	12,209	6,095	171,096	114,547