LUV Options History — November 2022

In November 2022, LUV traded between $36.67 and $39.86. ATM implied volatility averaged 34.5%, placing in the 10.6% IV rank vs the trailing year. The 30-day expected move averaged 10.1%. IV traded above realized volatility by 11.2% (HV 20d: 23.3%). Max pain ranged from $33.00 to $37.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.77.

Notable Days

2022-11-10: Highest Volume — 34,655 contracts
2022-11-10: Largest IV drop — 7.8% change
2022-11-03: Highest IV Rank — 21.5%
2022-11-02: Largest Expected Move — 10.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$38.05	$36.67	$39.86	$36.95	$39.86
Max Pain	$35.40	$33.00	$37.50	$33.00	$37.50
ATM IV	34.5%	30.7%	36.7%	35.6%	30.7%
Expected Move	10.1%	9.1%	10.9%	10.7%	9.3%
HV 20d	23.3%	18.3%	25.9%	23.4%	25.3%
HV 60d	33.5%	33.0%	34.1%	34.1%	34.1%
IV Rank	10.6%	0.0%	21.5%	19.4%	0.0%
IV Percentile	10.7%	0.0%	27.8%	16.3%	0.0%
Term Structure	0.1%	-2.0%	3.3%	0.8%	0.1%
VWIV	35.4%	31.8%	40.2%	40.2%	33.6%
Skew 25d	5.2%	4.4%	6.1%	5.5%	4.5%
Skew 10d	10.8%	9.2%	13.8%	9.8%	9.6%
Call IV 25d	32.2%	29.0%	34.0%	33.0%	29.0%
Put IV 25d	37.4%	33.5%	39.5%	38.5%	33.5%
Bid-Ask Spread %	3.66	2.64	6.30	3.55	3.66
Gamma HHI	0.11	0.07	0.19	0.08	0.12
Net GEX	6.3M	3.6M	12.3M	5.1M	10.7M
Net DEX	-109.7M	-170.2M	-42.3M	-111.0M	-162.7M
Net VEX	-1.2M	-1.3M	-1.2M	-1.2M	-1.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.77	0.20	1.35	1.11	0.63
Total Volume	18,802.095	7,306	34,655	17,956	19,505
Total OI	312,602.81	288,062	353,046	311,000	298,084

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
2022-11-01	$36.95	$33.00	35.6%	10.7%	23.4%	19.4%	40.2%	5.5%	0.8%	5.1M	-111.0M	-1.2M	1.11	3.55	8,526	9,430	191,952	119,048
2022-11-02	$36.67	$33.00	35.8%	10.9%	23.9%	20.1%	37.3%	4.9%	1.0%	4.6M	-95.1M	-1.2M	1.11	4.20	7,145	7,905	193,116	121,889
2022-11-03	$37.15	$35.00	36.3%	10.7%	22.3%	21.5%	38.2%	4.8%	0.9%	4.8M	-121.3M	-1.2M	1.35	5.16	7,177	9,713	194,790	123,725
2022-11-04	$37.10	$35.00	35.4%	10.6%	19.9%	17.2%	36.8%	5.4%	1.2%	5.1M	-122.1M	-1.2M	0.93	6.30	8,542	7,921	197,563	126,789
2022-11-07	$37.31	$35.00	36.4%	10.5%	19.5%	19.0%	36.1%	5.4%	0.1%	4.1M	-82.7M	-1.2M	0.67	5.05	9,508	6,382	183,191	116,704
2022-11-08	$37.49	$35.00	36.7%	10.6%	18.3%	18.2%	37.3%	5.4%	0.3%	4.2M	-98.6M	-1.2M	0.80	3.06	12,791	10,258	186,027	119,054
2022-11-09	$37.29	$35.00	36.7%	10.5%	19.0%	17.9%	38.5%	6.0%	-0.1%	3.6M	-75.5M	-1.2M	0.98	3.47	7,161	7,022	187,555	124,828
2022-11-10	$38.87	$35.00	33.8%	9.7%	21.7%	5.3%	34.7%	5.4%	0.2%	5.4M	-166.4M	-1.3M	0.54	3.48	22,435	12,220	190,692	126,214
2022-11-11	$38.53	$35.00	33.6%	10.2%	22.6%	4.4%	35.0%	5.4%	3.3%	5.4M	-149.0M	-1.3M	1.03	2.68	8,886	9,123	196,043	128,863
2022-11-14	$37.90	$35.00	35.1%	10.2%	24.2%	9.8%	34.0%	6.0%	-0.8%	3.8M	-96.5M	-1.2M	0.60	3.11	14,105	8,491	191,986	127,615
2022-11-15	$38.57	$35.00	36.6%	10.6%	24.3%	15.6%	36.3%	6.1%	-2.0%	4.6M	-136.1M	-1.3M	0.78	3.66	9,816	7,682	195,121	131,323
2022-11-16	$38.03	$35.00	35.6%	10.2%	25.1%	12.0%	33.5%	6.0%	-0.8%	3.8M	-100.5M	-1.3M	0.37	3.46	18,367	6,722	198,663	134,053
2022-11-17	$37.52	$35.00	35.2%	10.1%	25.6%	10.5%	34.9%	4.8%	-0.4%	4.2M	-83.2M	-1.3M	0.53	2.64	17,147	9,138	210,508	134,031
2022-11-18	$38.04	$35.00	34.6%	9.9%	25.7%	8.2%	34.8%	5.0%	-0.3%	7.9M	-132.6M	-1.3M	1.05	2.96	10,012	10,495	217,775	135,271
2022-11-21	$37.76	$35.00	34.0%	9.8%	25.9%	5.8%	34.4%	5.2%	-0.3%	7.2M	-42.3M	-1.3M	0.97	3.11	7,685	7,448	183,269	104,803
2022-11-22	$38.12	$36.50	32.5%	9.4%	24.6%	0.1%	31.8%	4.4%	-0.2%	8.9M	-59.2M	-1.2M	0.51	3.02	15,743	8,078	185,801	106,532
2022-11-23	$38.67	$37.00	31.1%	9.1%	24.4%	0.0%	32.3%	4.7%	0.1%	12.3M	-107.1M	-1.3M	0.82	3.15	8,244	6,774	190,498	109,064
2022-11-25	$39.50	$37.00	32.2%	9.3%	23.6%	3.7%	33.2%	4.9%	-0.7%	10.6M	-170.2M	-1.3M	0.32	4.03	8,291	2,675	191,935	109,793
2022-11-28	$38.59	$37.00	32.7%	10.1%	24.7%	5.6%	35.0%	5.0%	-0.0%	6.9M	-73.8M	-1.2M	0.82	3.12	4,013	3,293	183,160	104,902
2022-11-29	$39.22	$37.50	33.2%	10.3%	25.2%	7.4%	36.1%	4.4%	0.1%	8.1M	-117.1M	-1.2M	0.20	4.08	15,817	3,158	184,962	107,467
2022-11-30	$39.86	$37.50	30.7%	9.3%	25.3%	0.0%	33.6%	4.5%	0.1%	10.7M	-162.7M	-1.2M	0.63	3.66	11,968	7,537	189,595	108,489