LUV Options History — September 2024

In September 2024, LUV traded between $28.31 and $30.05. ATM implied volatility averaged 40.7%, placing in the 47.4% IV rank vs the trailing year. The 30-day expected move averaged 11.1%. IV traded above realized volatility by 12.7% (HV 20d: 27.9%). Max pain ranged from $27.50 to $27.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.75.

Notable Days

2024-09-26: Highest Volume — 101,582 contracts
2024-09-18: Largest IV drop — 8.1% change
2024-09-25: Highest IV Rank — 62.7%
2024-09-25: Largest Expected Move — 12.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$29.21	$28.31	$30.05	$29.45	$29.70
Max Pain	$27.50	$27.50	$27.50	$27.50	$27.50
ATM IV	40.7%	37.9%	45.6%	42.4%	39.1%
Expected Move	11.1%	10.0%	12.2%	10.8%	10.0%
HV 20d	27.9%	24.5%	31.6%	27.3%	31.6%
HV 60d	37.9%	36.8%	41.1%	41.1%	37.9%
IV Rank	47.4%	34.4%	62.7%	57.7%	37.4%
IV Percentile	79.2%	58.7%	98.4%	92.1%	65.9%
Term Structure	-0.2%	-4.3%	3.6%	-3.7%	0.7%
VWIV	39.1%	35.7%	42.9%	38.3%	35.7%
Skew 25d	2.9%	0.7%	4.2%	4.0%	3.3%
Skew 10d	6.9%	5.2%	9.7%	7.3%	5.5%
Call IV 25d	39.6%	36.1%	43.8%	39.6%	37.7%
Put IV 25d	42.5%	39.5%	46.6%	43.6%	41.0%
Bid-Ask Spread %	19.51	3.93	44.61	44.56	12.82
Gamma HHI	0.23	0.08	0.32	0.28	0.08
Net GEX	7.4M	549.9K	15.0M	10.2M	1.1M
Net DEX	-130.9M	-237.9M	-34.6M	-208.7M	-74.2M
Net VEX	-1.7M	-1.9M	-1.6M	-1.8M	-1.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.75	0.20	2.76	0.51	0.67
Total Volume	27,220.75	8,699	101,582	19,012	8,881
Total OI	473,053.85	383,930	515,061	473,828	393,049

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
2024-09-03	$29.45	$27.50	42.4%	10.8%	27.3%	57.7%	38.3%	4.0%	-3.7%	10.2M	-208.7M	-1.8M	0.51	44.56	12,550	6,462	264,275	209,553
2024-09-04	$29.38	$27.50	41.9%	10.8%	27.0%	55.9%	38.0%	3.2%	-0.2%	10.6M	-188.9M	-1.8M	0.45	41.34	11,780	5,345	257,724	211,826
2024-09-05	$29.88	$27.50	41.5%	11.5%	26.9%	53.2%	39.6%	3.6%	-1.0%	11.5M	-237.9M	-1.9M	0.34	15.47	25,132	8,528	260,724	214,003
2024-09-06	$29.63	$27.50	41.5%	11.5%	26.6%	53.3%	41.5%	4.0%	-1.0%	10.4M	-209.1M	-1.9M	0.91	11.22	8,453	7,727	268,970	217,763
2024-09-09	$29.73	$27.50	41.5%	11.7%	26.6%	53.2%	40.8%	2.9%	-1.1%	12.1M	-219.9M	-1.8M	0.56	8.38	19,008	10,711	259,329	211,743
2024-09-10	$29.16	$27.50	39.9%	11.3%	28.3%	47.4%	42.9%	3.0%	0.4%	11.2M	-156.0M	-1.8M	0.69	16.09	17,544	12,158	265,396	219,445
2024-09-11	$28.55	$27.50	39.8%	11.9%	29.9%	46.7%	41.4%	4.2%	1.8%	7.8M	-88.6M	-1.7M	2.76	16.24	7,994	22,047	267,678	226,742
2024-09-12	$28.88	$27.50	39.5%	11.0%	29.9%	45.5%	39.0%	3.3%	-1.4%	9.1M	-116.3M	-1.8M	0.96	7.41	4,436	4,263	268,565	241,544
2024-09-13	$28.86	$27.50	39.7%	11.0%	27.3%	46.4%	38.5%	0.7%	-3.0%	9.0M	-108.2M	-1.8M	0.53	5.74	12,970	6,928	270,572	243,979
2024-09-16	$28.45	$27.50	40.2%	11.5%	27.8%	47.9%	39.0%	3.8%	1.6%	5.9M	-72.6M	-1.7M	0.76	4.39	5,799	4,418	259,351	238,522
2024-09-17	$28.31	$27.50	41.2%	11.9%	27.6%	51.7%	39.7%	4.1%	1.1%	4.7M	-62.6M	-1.7M	0.79	3.93	7,106	5,579	260,059	238,558
2024-09-18	$28.80	$27.50	37.9%	10.9%	28.0%	37.0%	38.7%	3.4%	2.8%	7.6M	-103.4M	-1.7M	0.54	44.33	9,013	4,861	262,250	242,194
2024-09-19	$28.89	$27.50	38.2%	10.8%	28.0%	35.1%	37.8%	2.1%	3.1%	7.4M	-109.1M	-1.6M	1.24	4.27	7,412	9,181	263,448	244,788
2024-09-20	$29.02	$27.50	38.1%	10.5%	27.8%	34.4%	37.7%	3.5%	3.6%	549.9K	-111.8M	-1.6M	1.09	6.37	6,912	7,535	265,194	249,867
2024-09-23	$29.61	$27.50	40.2%	10.8%	24.5%	41.6%	36.9%	1.0%	-4.3%	2.3M	-103.3M	-1.6M	0.20	38.64	36,890	7,498	183,646	200,284
2024-09-24	$29.73	$27.50	43.4%	11.5%	24.5%	54.2%	39.8%	1.5%	-2.3%	5.6M	-130.0M	-1.6M	0.31	22.49	31,514	9,664	210,427	204,792
2024-09-25	$28.49	$27.50	45.6%	12.2%	25.9%	62.7%	41.8%	2.7%	-1.7%	3.3M	-34.6M	-1.6M	0.39	21.94	28,913	11,221	229,129	208,704
2024-09-26	$30.05	$27.50	41.9%	10.8%	31.0%	48.4%	37.7%	2.3%	-0.6%	15.0M	-184.1M	-1.6M	0.44	20.01	70,517	31,065	242,199	214,968
2024-09-27	$29.55	$27.50	39.6%	10.1%	31.6%	39.2%	37.5%	2.4%	0.2%	3.7M	-97.8M	-1.6M	0.87	44.61	19,514	16,886	241,207	228,610
2024-09-30	$29.70	$27.50	39.1%	10.0%	31.6%	37.4%	35.7%	3.3%	0.7%	1.1M	-74.2M	-1.6M	0.67	12.82	5,332	3,549	196,278	196,771