LUV Options History — March 2024

In March 2024, LUV traded between $27.98 and $34.88. ATM implied volatility averaged 34.2%, placing in the 43.3% IV rank vs the trailing year. The 30-day expected move averaged 9.3%. IV traded below realized volatility by 15.1% (HV 20d: 49.2%). Max pain ranged from $28.50 to $35.00. Net GEX was positive for 16 of 20 trading days. Term structure was in contango for 14 of 20 days. Put/call ratio averaged 0.86.

Notable Days

  • 2024-03-12: Highest Volume — 134,169 contracts
  • 2024-03-25: Largest IV spike — 25.2% change
  • 2024-03-25: Highest IV Rank — 67.1%
  • 2024-03-12: Largest Expected Move — 10.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$30.51$27.98$34.88$33.91$29.30
Max Pain$31.55$28.50$35.00$30.00$28.50
ATM IV34.2%30.0%39.1%33.5%36.3%
Expected Move9.3%8.2%10.8%10.2%8.2%
HV 20d49.2%21.8%63.7%29.1%62.5%
HV 60d41.5%32.1%46.5%34.0%46.0%
IV Rank43.3%23.4%67.1%40.2%53.5%
IV Percentile55.2%21.0%84.9%53.2%77.0%
Term Structure1.7%-5.2%5.9%-0.5%5.9%
VWIV32.8%28.8%36.8%35.6%28.8%
Skew 25d1.5%0.1%2.8%1.2%1.0%
Skew 10d3.3%1.8%4.9%2.6%3.5%
Call IV 25d33.5%29.3%36.0%33.7%35.6%
Put IV 25d35.0%30.0%37.5%34.9%36.6%
Bid-Ask Spread %10.162.8338.0013.0038.00
Gamma HHI0.120.100.150.130.12
Net GEX2.5M-3.2M6.6M4.7M4.9M
Net DEX-52.7M-235.5M102.7M-229.8M-59.3M
Net VEX-1.5M-1.6M-1.3M-1.5M-1.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.860.161.570.700.91
Total Volume29,850.455,327134,16913,39523,320
Total OI368,993324,546453,352380,213365,967

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2024-03-01$33.91$30.0033.5%10.2%29.1%40.2%35.6%1.2%-0.5%4.7M-229.8M-1.5M0.7013.007,8915,504175,310204,903
2024-03-04$34.20$35.0035.5%9.9%29.1%49.7%35.1%1.1%0.2%4.7M-235.5M-1.5M0.1612.9742,4446,988170,363197,335
2024-03-05$34.25$35.0035.8%10.1%27.7%51.1%34.9%1.8%-0.3%4.6M-185.3M-1.5M0.884.726,1665,453153,545200,635
2024-03-06$34.53$35.0035.5%10.1%24.9%49.8%35.5%0.1%-0.4%5.3M-195.3M-1.5M1.1130.214,2204,686155,670202,091
2024-03-07$34.88$35.0034.9%10.0%24.7%47.2%35.9%2.0%0.1%6.6M-212.5M-1.5M1.573.592,0733,254156,743204,049
2024-03-08$34.16$35.0035.4%9.8%21.8%49.4%34.3%2.0%4.6%4.1M-171.2M-1.5M1.075.024,8475,173156,926205,551
2024-03-11$33.84$35.0035.1%9.9%22.2%48.0%35.6%2.8%-0.3%3.8M-157.4M-1.4M0.566.9713,5537,624149,557201,690
2024-03-12$28.61$35.0034.9%10.8%63.7%46.8%36.8%2.4%3.3%-3.2M95.5M-1.3M0.8916.0771,17162,998153,763207,455
2024-03-13$28.23$30.0035.2%10.2%63.7%48.2%35.1%2.1%0.9%-2.8M102.7M-1.5M1.162.8340,57946,915198,693233,955
2024-03-14$28.02$30.0033.8%9.7%61.4%41.8%33.8%2.2%0.5%-2.8M95.5M-1.5M0.572.8522,26912,750214,943232,691
2024-03-15$28.16$30.0032.5%9.3%61.4%35.5%32.9%1.6%-0.2%-992.5K78.5M-1.5M0.853.3612,73010,826219,243234,109
2024-03-18$27.98$30.0031.6%9.0%61.3%31.1%31.7%1.1%5.5%634.1K35.4M-1.5M0.603.8013,6488,183161,638162,908
2024-03-19$28.14$30.0030.7%8.8%61.5%26.6%30.6%0.8%4.7%1.3M24.6M-1.5M0.559.4611,7086,483168,232166,925
2024-03-20$28.80$30.0030.0%8.6%61.8%23.4%30.2%0.7%5.4%3.3M-19.9M-1.5M0.6631.2616,70411,040173,127170,196
2024-03-21$28.66$30.0031.0%8.6%61.7%28.0%30.4%1.0%4.8%3.2M-3.0M-1.5M1.314.259,77412,793177,981172,916
2024-03-22$28.55$30.0031.2%8.4%61.7%29.0%29.4%0.7%4.1%3.7M7.3M-1.5M0.563.5711,0076,213181,159179,872
2024-03-25$28.41$30.0039.1%8.6%61.4%67.1%30.3%1.3%-5.2%1.6M16.3M-1.5M0.684.2412,9328,802174,375175,784
2024-03-26$28.45$29.0035.8%8.4%61.2%51.1%29.5%0.4%0.2%2.3M4.9M-1.5M1.463.588,05111,739180,191179,296
2024-03-27$29.18$28.5035.3%8.4%62.4%49.0%29.3%2.8%0.8%4.7M-44.4M-1.6M1.023.4112,11512,383181,326178,747
2024-03-28$29.30$28.5036.3%8.2%62.5%53.5%28.8%1.0%5.9%4.9M-59.3M-1.6M0.9138.0012,24111,079184,663181,304