LUV Options History — November 2023

In November 2023, LUV traded between $22.21 and $25.51. ATM implied volatility averaged 33.7%, placing in the 41.2% IV rank vs the trailing year. The 30-day expected move averaged 10.0%. IV traded below realized volatility by 1.6% (HV 20d: 35.3%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 3 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 1.03.

Notable Days

  • 2023-11-03: Highest Volume — 57,341 contracts
  • 2023-11-09: Largest IV spike — 9.2% change
  • 2023-11-01: Highest IV Rank — 52.0%
  • 2023-11-09: Largest Expected Move — 10.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$24.17$22.21$25.51$22.21$25.51
Max Pain$25.00$25.00$25.00$25.00$25.00
ATM IV33.7%32.0%35.9%35.9%32.0%
Expected Move10.0%9.3%10.8%10.8%9.8%
HV 20d35.3%27.0%39.3%27.0%33.9%
HV 60d27.9%22.7%30.6%22.7%30.0%
IV Rank41.2%33.1%52.0%52.0%33.1%
IV Percentile59.7%44.4%73.4%73.4%44.4%
Term Structure0.4%-1.6%4.3%1.3%-0.5%
VWIV35.0%32.6%37.1%37.1%34.7%
Skew 25d3.9%2.4%5.4%5.0%2.4%
Skew 10d7.9%3.9%11.6%11.2%5.2%
Call IV 25d32.3%31.0%34.0%33.8%31.8%
Put IV 25d36.2%34.1%38.9%38.9%34.1%
Bid-Ask Spread %14.452.4642.233.113.11
Gamma HHI0.150.120.210.140.12
Net GEX-1.7M-4.5M1.5M-3.4M1.5M
Net DEX87.6M6.8M178.7M178.7M6.8M
Net VEX-1.4M-1.7M-1.1M-1.1M-1.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.030.432.632.420.92
Total Volume22,123.52410,53457,34133,82914,751
Total OI472,350.476408,339518,478408,339496,216

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-11-01$22.21$25.0035.9%10.8%27.0%52.0%37.1%5.0%1.3%-3.4M178.7M-1.1M2.423.119,89223,937228,093180,246
2023-11-02$23.07$25.0033.6%10.6%31.8%40.7%36.9%4.9%1.6%-2.4M131.0M-1.2M2.633.399,96026,159233,023183,026
2023-11-03$23.69$25.0032.3%10.7%34.2%34.5%35.6%4.5%1.1%-2.0M108.1M-1.3M1.813.3120,40836,933234,349194,178
2023-11-06$23.45$25.0034.9%10.6%33.6%47.1%36.0%5.4%2.2%-3.4M133.0M-1.3M1.502.7810,11315,138236,147215,933
2023-11-07$23.57$25.0032.6%10.5%33.3%35.9%36.3%4.7%4.3%-3.6M130.3M-1.4M0.463.857,1953,339240,558230,141
2023-11-08$24.04$25.0032.6%9.5%34.4%36.0%34.7%4.6%0.1%-2.2M99.0M-1.4M0.434.0811,0104,729244,241231,831
2023-11-09$23.36$25.0035.7%10.8%34.1%50.7%36.4%5.4%2.6%-3.8M138.1M-1.4M0.833.358,6797,198245,366232,497
2023-11-10$23.20$25.0035.8%10.7%34.1%51.1%36.2%5.2%2.7%-4.4M152.3M-1.4M0.943.139,4398,907248,094237,094
2023-11-13$23.12$25.0035.7%10.3%33.5%50.7%35.3%5.1%-1.3%-4.5M154.6M-1.3M1.034.038,8799,151244,248233,314
2023-11-14$24.34$25.0033.2%9.5%38.9%38.7%35.4%4.0%0.5%-1.8M84.4M-1.4M0.5414.7814,5687,933248,125239,729
2023-11-15$24.96$25.0034.2%9.8%37.0%43.3%34.6%3.0%-0.6%-844.1K37.5M-1.5M0.573.7920,09211,366252,472242,374
2023-11-16$24.26$25.0033.6%9.6%38.1%40.9%33.7%2.5%0.9%-1.3M91.9M-1.5M1.3520.949,33612,622257,216248,358
2023-11-17$24.81$25.0034.4%9.9%38.9%44.7%35.7%3.1%-0.3%-2.7M60.0M-1.6M0.942.468,6708,120260,152258,326
2023-11-20$25.16$25.0033.0%9.3%39.2%37.8%32.6%3.4%-1.0%-293.5K38.5M-1.6M0.5841.7911,6216,782234,054226,001
2023-11-21$24.61$25.0033.2%9.6%39.3%38.8%33.3%3.0%-1.4%-1.1M63.7M-1.5M0.5919.128,2154,832240,078228,266
2023-11-22$24.70$25.0033.2%9.6%39.2%38.9%33.3%3.2%-1.6%-638.7K57.8M-1.6M0.6542.2312,8038,373244,043230,157
2023-11-24$24.87$25.0033.1%9.4%38.8%38.3%33.0%3.2%-1.3%427.4K45.3M-1.6M1.6437.377,01411,488247,929235,373
2023-11-27$24.56$25.0033.1%9.8%34.1%38.1%34.5%3.4%-0.7%-768.0K64.8M-1.5M0.4940.9810,7195,267245,051226,165
2023-11-28$24.80$25.0032.7%9.7%34.1%36.2%34.3%3.5%-0.4%-274.2K50.3M-1.6M0.614.898,3085,028250,500229,253
2023-11-29$25.30$25.0032.9%9.9%34.0%37.1%35.1%2.7%-0.3%1.2M13.9M-1.6M0.8040.8814,27211,348254,889232,254
2023-11-30$25.51$25.0032.0%9.8%33.9%33.1%34.7%2.4%-0.5%1.5M6.8M-1.7M0.923.117,6877,064257,713238,503