LUV Options History — May 2024

In May 2024, LUV traded between $25.48 and $28.12. ATM implied volatility averaged 32.4%, placing in the 34.8% IV rank vs the trailing year. The 30-day expected move averaged 9.4%. IV traded below realized volatility by 4.4% (HV 20d: 36.8%). Max pain ranged from $27.50 to $28.50. Net GEX was positive for 15 of 22 trading days. Term structure was in contango for 11 of 22 days. Put/call ratio averaged 0.67.

Notable Days

  • 2024-05-29: Highest Volume — 62,191 contracts
  • 2024-05-13: Largest IV spike — 6.8% change
  • 2024-05-29: Highest IV Rank — 55.2%
  • 2024-05-29: Largest Expected Move — 10.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$27.09$25.48$28.12$25.86$26.80
Max Pain$27.55$27.50$28.50$28.50$27.50
ATM IV32.4%29.7%36.6%30.9%34.6%
Expected Move9.4%8.3%10.8%8.9%10.4%
HV 20d36.8%29.7%42.3%38.7%33.3%
HV 60d45.1%44.2%46.4%45.9%46.4%
IV Rank34.8%21.7%55.2%27.6%45.7%
IV Percentile41.3%18.3%74.2%27.8%62.7%
Term Structure0.1%-13.4%20.8%-0.1%-1.1%
VWIV33.0%28.4%38.6%30.2%35.8%
Skew 25d2.1%1.2%3.8%1.9%2.3%
Skew 10d4.2%1.9%6.2%1.9%4.7%
Call IV 25d31.5%28.0%35.0%30.1%34.2%
Put IV 25d33.6%30.4%37.9%31.9%36.5%
Bid-Ask Spread %18.154.1757.7457.7410.37
Gamma HHI0.160.100.260.100.18
Net GEX2.3M-3.8M7.5M-3.8M4.2M
Net DEX-8.1M-90.8M109.4M109.4M-38.6M
Net VEX-1.7M-2.1M-1.3M-1.3M-2.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.670.162.362.360.41
Total Volume26,107.1369,78162,19130,68027,913
Total OI441,384376,978531,042376,978531,042

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2024-05-01$25.86$28.5030.9%8.9%38.7%27.6%30.2%1.9%-0.1%-3.8M109.4M-1.3M2.3657.749,14421,536186,901190,077
2024-05-02$26.29$27.5030.5%8.5%39.3%25.9%29.8%1.7%0.0%-3.2M78.8M-1.4M0.458.1016,3127,331190,090194,792
2024-05-03$26.23$27.5029.7%8.3%39.0%21.7%28.4%2.6%1.4%-2.0M77.7M-1.4M0.8654.888,3897,246198,206195,965
2024-05-06$27.45$27.5030.7%9.3%42.3%26.7%32.0%1.2%1.1%410.0K1.7M-1.5M0.4513.3820,7139,310191,204191,974
2024-05-07$27.07$27.5030.1%9.0%42.2%23.6%31.7%3.8%-1.7%-593.2K27.6M-1.5M1.0416.694,8014,980196,674195,285
2024-05-08$27.23$27.5030.5%9.1%40.7%25.6%31.8%1.4%0.6%-399.5K15.4M-1.5M1.1813.3410,70312,662198,410197,078
2024-05-09$27.20$27.5031.6%8.7%40.0%30.8%30.1%2.2%20.8%-325.9K19.8M-1.5M0.3818.7611,0924,168206,304204,203
2024-05-10$27.31$27.5029.9%8.7%38.0%22.9%31.9%1.5%1.5%22.7K3.0M-1.6M0.5815.7721,84312,589213,738207,245
2024-05-13$28.12$27.5032.0%9.5%39.4%32.9%32.1%2.1%0.8%2.6M-68.7M-1.7M0.1824.5339,5997,013221,312204,113
2024-05-14$28.09$27.5032.4%9.6%39.3%34.6%32.2%2.3%1.6%5.8M-85.4M-1.8M0.3022.9625,6787,684240,140204,213
2024-05-15$27.70$27.5032.4%9.4%37.9%34.7%32.9%1.9%0.6%4.7M-57.2M-1.8M0.2823.0317,9514,981249,863206,149
2024-05-16$27.95$27.5032.4%9.5%37.9%34.7%32.5%1.6%1.4%7.5M-90.8M-1.8M0.1613.5724,1513,871259,048208,905
2024-05-17$27.80$27.5031.9%9.3%37.8%32.6%33.3%1.9%0.6%6.6M-87.6M-1.8M1.164.175,0985,892272,344210,796
2024-05-20$28.02$27.5032.4%9.3%37.4%35.0%32.6%2.1%-0.5%5.4M-81.1M-1.8M0.327.9119,0116,063237,403185,524
2024-05-21$27.96$27.5032.8%9.4%37.4%36.8%32.9%1.9%-0.8%6.8M-86.1M-1.9M0.2214.3214,0243,083252,488187,315
2024-05-22$27.87$27.5033.4%9.6%37.3%39.5%34.4%2.5%-1.7%7.4M-81.8M-1.9M1.2514.877,6819,588263,234189,143
2024-05-23$26.66$27.5034.9%10.1%29.8%47.0%36.9%1.9%-3.4%3.2M12.8M-1.8M0.4814.3221,86210,422267,351197,355
2024-05-24$26.69$27.5033.0%9.6%29.7%38.0%33.1%2.6%-2.7%3.5M7.2M-1.8M0.6518.7815,35410,053280,866203,720
2024-05-28$26.41$27.5034.5%10.2%29.9%45.2%35.2%2.1%-13.4%2.0M18.6M-1.8M0.699.789,6906,708274,887202,151
2024-05-29$25.48$27.5036.6%10.8%31.0%55.2%38.6%3.1%0.3%-448.4K80.5M-1.7M0.629.9538,42723,764281,296206,892
2024-05-30$25.87$27.5035.6%10.6%31.4%50.2%37.4%1.8%-2.5%393.9K46.6M-1.9M0.7512.1514,85911,118293,187221,565
2024-05-31$26.80$27.5034.6%10.4%33.3%45.7%35.8%2.3%-1.1%4.2M-38.6M-2.1M0.4110.3719,7278,186300,798230,244