LUV Options History — October 2023

In October 2023, LUV traded between $22.24 and $27.32. ATM implied volatility averaged 42.2%, placing in the 70.0% IV rank vs the trailing year. The 30-day expected move averaged 11.9%. IV traded above realized volatility by 17.4% (HV 20d: 24.8%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 0.98.

Notable Days

  • 2023-10-25: Highest Volume — 54,730 contracts
  • 2023-10-26: Largest IV drop — 5.8% change
  • 2023-10-23: Highest IV Rank — 88.5%
  • 2023-10-23: Largest Expected Move — 13.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.13$22.24$27.32$27.12$22.27
Max Pain$27.84$25.00$30.00$28.00$25.00
ATM IV42.2%37.7%45.9%39.6%37.7%
Expected Move11.9%10.1%13.5%10.1%10.9%
HV 20d24.8%22.0%28.6%22.8%28.6%
HV 60d28.9%23.3%32.7%32.7%24.0%
IV Rank70.0%52.6%88.5%52.6%60.6%
IV Percentile92.8%81.3%98.8%87.7%81.3%
Term Structure-1.5%-4.8%1.8%-1.5%0.9%
VWIV41.7%36.8%47.7%36.8%37.9%
Skew 25d5.3%4.2%6.3%5.1%5.6%
Skew 10d11.2%8.6%13.8%10.7%13.0%
Call IV 25d39.8%34.8%43.6%37.1%35.1%
Put IV 25d45.2%40.3%49.7%42.2%40.7%
Bid-Ask Spread %3.471.959.572.352.89
Gamma HHI0.130.080.190.090.16
Net GEX-2.9M-5.8M-999.0K-999.0K-3.7M
Net DEX158.9M92.2M226.2M99.7M196.6M
Net VEX-1.2M-1.4M-1.0M-1.3M-1.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.980.301.761.121.04
Total Volume23,197.4099,95154,73027,11719,057
Total OI388,624.5340,990428,508340,990409,110

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-10-02$27.12$28.0039.6%10.1%22.8%52.6%36.8%5.1%-1.5%-999.0K99.7M-1.3M1.122.3512,76314,354186,892154,098
2023-10-03$26.84$28.0041.8%11.1%22.5%60.5%37.8%5.3%-1.4%-1.8M121.1M-1.4M0.532.488,1334,295190,274165,333
2023-10-04$27.30$28.0041.5%10.6%22.7%59.3%37.3%4.2%-1.5%-1.2M93.7M-1.4M0.752.778,5156,379191,913166,454
2023-10-05$27.32$30.0042.4%11.3%22.0%62.7%40.0%5.3%-1.9%-1.1M92.2M-1.4M1.653.623,7576,194194,557168,065
2023-10-06$27.09$30.0041.1%11.2%22.0%58.0%39.2%4.6%-1.7%-2.3M109.9M-1.4M1.172.458,2929,710196,242172,597
2023-10-09$26.44$30.0043.1%11.3%23.1%65.2%41.7%5.6%-2.8%-2.1M140.3M-1.3M1.492.7712,20018,199192,352171,068
2023-10-10$26.70$30.0040.7%11.1%23.6%56.3%40.0%5.5%-1.5%-2.1M131.2M-1.3M0.804.457,9756,380196,985180,979
2023-10-11$26.32$30.0042.6%11.3%23.6%63.5%41.9%4.7%-3.0%-1.9M144.1M-1.3M0.432.7118,1727,851205,881181,841
2023-10-12$25.49$30.0044.1%12.3%25.4%69.0%42.6%5.2%-1.4%-3.4M180.0M-1.3M0.622.7518,15911,256212,151185,799
2023-10-13$25.30$27.5044.5%12.5%22.3%75.4%42.9%5.7%-1.0%-4.1M184.2M-1.3M1.762.158,69015,316220,022188,740
2023-10-16$25.59$27.5043.4%12.4%23.1%73.4%41.5%5.7%-3.2%-3.2M157.3M-1.3M0.302.3913,8834,144215,047183,814
2023-10-17$25.80$27.5044.6%12.8%23.6%80.2%44.2%5.3%-4.8%-2.4M135.9M-1.4M1.622.064,9688,033221,112182,327
2023-10-18$24.70$27.5045.9%13.1%27.2%85.4%45.3%6.1%-2.7%-4.6M188.0M-1.2M1.638.9713,17321,455222,280183,482
2023-10-19$24.38$27.5044.4%12.8%27.3%81.8%45.7%5.2%-1.8%-5.8M193.4M-1.2M0.809.5712,3819,925228,606185,187
2023-10-20$24.26$27.5044.4%12.9%27.3%83.2%46.1%6.3%-1.7%-3.0M197.5M-1.2M0.991.959,2899,207233,751186,540
2023-10-23$24.34$27.5045.0%13.5%26.9%88.5%47.7%5.3%-1.6%-2.7M160.9M-1.2M0.482.2912,1195,838198,194170,252
2023-10-24$23.86$27.5042.5%13.1%25.9%83.6%44.9%5.4%-0.9%-3.1M178.5M-1.1M0.522.5312,2346,413202,677173,096
2023-10-25$23.68$27.5041.8%12.9%25.5%80.3%46.6%5.6%-0.9%-2.8M174.3M-1.1M1.623.6020,87833,852208,863173,189
2023-10-26$23.36$26.0039.4%11.5%23.9%68.5%40.0%4.7%-0.4%-4.4M194.8M-1.1M0.723.5122,22915,911222,417195,987
2023-10-27$22.24$25.0039.7%11.6%28.1%70.2%38.2%5.8%0.4%-4.2M226.2M-1.0M0.964.9016,00515,418231,647196,861
2023-10-30$22.49$25.0038.0%11.3%28.6%62.1%38.7%5.5%1.8%-3.8M196.2M-1.1M0.553.0811,1946,147216,967186,090
2023-10-31$22.27$25.0037.7%10.9%28.6%60.6%37.9%5.6%0.9%-3.7M196.6M-1.0M1.042.899,3339,724223,417185,693