LUV Options History — February 2024

In February 2024, LUV traded between $29.74 and $34.45. ATM implied volatility averaged 33.6%, placing in the 40.7% IV rank vs the trailing year. The 30-day expected move averaged 9.7%. IV traded above realized volatility by 0.4% (HV 20d: 33.2%). Max pain ranged from $27.50 to $30.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 5 of 20 days. Put/call ratio averaged 0.88.

Notable Days

2024-02-20: Highest Volume — 55,113 contracts
2024-02-14: Largest IV drop — 6.3% change
2024-02-13: Highest IV Rank — 50.5%
2024-02-13: Largest Expected Move — 10.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$32.88	$29.74	$34.45	$30.12	$34.27
Max Pain	$27.85	$27.50	$30.00	$27.50	$30.00
ATM IV	33.6%	32.5%	35.6%	32.6%	32.8%
Expected Move	9.7%	9.5%	10.2%	9.6%	9.8%
HV 20d	33.2%	28.5%	39.4%	36.0%	28.5%
HV 60d	35.3%	34.1%	36.6%	35.5%	34.1%
IV Rank	40.7%	35.4%	50.5%	36.1%	37.0%
IV Percentile	55.0%	44.8%	68.7%	48.4%	44.8%
Term Structure	-0.7%	-7.6%	1.2%	1.2%	-0.0%
VWIV	34.7%	33.3%	36.0%	33.5%	34.2%
Skew 25d	2.1%	0.9%	4.0%	2.3%	2.0%
Skew 10d	3.6%	1.7%	7.9%	4.0%	2.7%
Call IV 25d	32.9%	31.8%	34.4%	31.8%	32.2%
Put IV 25d	34.9%	33.0%	37.3%	34.1%	34.2%
Bid-Ask Spread %	8.01	2.97	31.56	27.92	31.56
Gamma HHI	0.18	0.12	0.24	0.19	0.12
Net GEX	8.0M	2.0M	13.0M	7.6M	5.7M
Net DEX	-237.2M	-357.1M	-71.5M	-104.0M	-247.1M
Net VEX	-1.6M	-1.7M	-1.4M	-1.7M	-1.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.88	0.11	1.79	1.25	1.01
Total Volume	15,342.1	7,612	55,113	14,012	8,373
Total OI	399,270.1	353,221	445,396	440,943	377,186

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
2024-02-01	$30.12	$27.50	32.6%	9.6%	36.0%	36.1%	33.5%	2.3%	1.2%	7.6M	-104.0M	-1.7M	1.25	27.92	6,218	7,794	223,324	217,619
2024-02-02	$30.31	$27.50	32.5%	9.6%	35.3%	35.4%	33.3%	1.1%	1.1%	8.8M	-114.9M	-1.6M	0.59	3.87	7,478	4,431	223,949	221,447
2024-02-05	$29.74	$27.50	33.8%	9.6%	33.7%	41.7%	33.6%	2.3%	-0.1%	2.0M	-71.5M	-1.6M	0.81	4.04	5,714	4,625	208,089	204,914
2024-02-06	$30.93	$27.50	33.2%	9.8%	36.3%	38.7%	34.3%	2.3%	0.8%	5.7M	-150.2M	-1.6M	0.52	13.27	9,458	4,947	210,057	207,166
2024-02-07	$30.77	$27.50	33.2%	9.6%	36.5%	38.9%	33.9%	2.3%	0.6%	5.9M	-145.2M	-1.6M	0.68	3.23	4,544	3,068	213,970	207,568
2024-02-08	$32.20	$27.50	33.6%	9.5%	39.4%	40.9%	34.9%	1.9%	-0.5%	10.9M	-244.6M	-1.6M	0.94	5.14	9,558	8,989	214,377	208,501
2024-02-09	$32.34	$27.50	33.8%	9.7%	39.4%	41.8%	35.8%	1.8%	-0.4%	9.8M	-255.7M	-1.6M	0.76	3.29	8,627	6,532	217,043	210,492
2024-02-12	$33.00	$27.50	34.6%	9.9%	36.0%	45.8%	35.0%	2.7%	-7.6%	11.1M	-276.9M	-1.6M	0.56	3.72	8,913	4,999	206,686	197,655
2024-02-13	$32.59	$27.50	35.6%	10.2%	36.6%	50.5%	35.8%	4.0%	-0.6%	10.2M	-246.4M	-1.6M	1.09	5.36	5,718	6,247	210,795	199,327
2024-02-14	$33.86	$27.50	33.4%	9.6%	37.1%	39.6%	35.0%	2.3%	0.7%	12.9M	-342.9M	-1.6M	0.90	2.97	9,356	8,434	212,386	201,289
2024-02-15	$34.02	$27.50	34.2%	9.8%	30.8%	43.7%	35.9%	1.9%	-0.2%	13.0M	-354.6M	-1.6M	0.51	3.64	11,974	6,098	214,031	205,169
2024-02-16	$34.09	$27.50	33.5%	9.7%	30.7%	40.2%	35.8%	1.8%	-1.6%	12.9M	-357.1M	-1.6M	0.74	3.32	6,487	4,803	213,907	208,344
2024-02-20	$33.81	$27.50	34.4%	10.0%	31.2%	44.5%	36.0%	1.5%	-0.7%	8.8M	-285.4M	-1.6M	0.11	4.49	49,546	5,567	193,033	183,499
2024-02-21	$34.45	$27.50	34.5%	10.0%	30.3%	44.8%	35.6%	2.7%	-0.3%	6.6M	-278.8M	-1.4M	1.79	10.98	4,096	7,346	167,886	185,335
2024-02-22	$34.45	$27.50	33.8%	9.8%	30.3%	41.7%	34.7%	0.9%	-0.1%	6.9M	-278.3M	-1.5M	0.50	8.16	9,751	4,903	170,106	189,965
2024-02-23	$33.84	$27.50	32.9%	9.5%	29.7%	37.1%	34.4%	1.6%	-0.2%	5.2M	-236.5M	-1.5M	1.13	3.57	6,893	7,809	171,494	193,162
2024-02-26	$34.06	$27.50	33.4%	9.9%	28.7%	39.7%	34.5%	2.6%	-1.0%	5.5M	-248.7M	-1.4M	1.73	12.88	6,130	10,597	165,817	190,706
2024-02-27	$34.39	$29.50	33.4%	9.6%	28.7%	39.8%	34.2%	2.1%	-3.3%	5.3M	-251.3M	-1.5M	1.30	4.80	4,566	5,923	168,513	198,270
2024-02-28	$34.30	$30.00	32.9%	9.6%	28.8%	37.3%	33.7%	1.2%	-1.6%	5.2M	-254.6M	-1.5M	0.69	3.89	6,096	4,234	171,065	201,260
2024-02-29	$34.27	$30.00	32.8%	9.8%	28.5%	37.0%	34.2%	2.0%	-0.0%	5.7M	-247.1M	-1.5M	1.01	31.56	4,170	4,203	174,520	202,666