LUV Options History — February 2025

In February 2025, LUV traded between $29.70 and $31.02. ATM implied volatility averaged 33.6%, placing in the 31.8% IV rank vs the trailing year. The 30-day expected move averaged 9.5%. IV traded above realized volatility by 10.2% (HV 20d: 23.4%). Max pain ranged from $30.00 to $32.50. Net GEX was positive for 8 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.80.

Notable Days

  • 2025-02-12: Highest Volume — 27,104 contracts
  • 2025-02-06: Largest IV spike — 32.1% change
  • 2025-02-06: Highest IV Rank — 52.1%
  • 2025-02-26: Largest Expected Move — 11.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$30.40$29.70$31.02$30.56$30.98
Max Pain$31.05$30.00$32.50$32.50$30.00
ATM IV33.6%30.3%40.0%32.5%34.5%
Expected Move9.5%8.3%11.2%8.9%10.5%
HV 20d23.4%18.9%27.0%26.9%19.1%
HV 60d23.9%23.4%25.0%25.0%23.7%
IV Rank31.8%21.0%52.1%28.2%34.7%
IV Percentile30.9%4.8%80.6%19.8%35.7%
Term Structure0.2%-2.3%2.9%-1.9%0.6%
VWIV32.9%29.2%37.7%31.3%36.7%
Skew 25d2.0%-12.6%6.5%2.9%0.7%
Skew 10d4.2%-6.8%9.6%5.0%6.6%
Call IV 25d31.6%28.3%35.6%31.4%34.1%
Put IV 25d33.6%18.6%39.7%34.4%34.9%
Bid-Ask Spread %17.582.9749.6145.648.74
Gamma HHI0.150.070.470.110.12
Net GEX-988.8K-5.6M2.3M-974.5K2.3M
Net DEX11.4M-23.3M55.6M18.8M-23.3M
Net VEX-977.9K-1.1M-867.0K-946.6K-1.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.800.321.790.690.80
Total Volume13,279.1586,25127,10410,3027,036
Total OI258,104234,716286,752244,042252,409

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-02-03$30.56$32.5032.5%8.9%26.9%28.2%31.3%2.9%-1.9%-974.5K18.8M-946.6K0.6945.646,0874,215122,760121,282
2025-02-04$30.66$32.5031.0%8.6%26.9%23.4%29.6%4.2%1.2%-524.1K14.5M-934.8K0.4348.088,9513,866125,624120,013
2025-02-05$30.94$32.5030.3%8.3%27.0%21.0%29.2%2.6%1.9%760.3K-2.5M-947.7K0.9649.614,1063,932129,243122,131
2025-02-06$30.95$32.5040.0%9.0%25.3%52.1%31.9%3.0%1.8%507.1K2.5M-952.2K1.7914.793,1405,632129,892124,642
2025-02-07$31.02$32.5030.4%9.2%25.4%21.3%30.3%3.0%2.6%286.1K3.3M-960.4K0.662.973,7572,494130,764128,996
2025-02-10$30.23$32.5031.1%8.8%25.7%23.7%30.3%2.6%-1.1%-2.4M38.7M-904.2K0.505.149,6564,798120,626125,901
2025-02-11$29.70$32.5033.7%8.5%25.7%32.1%29.6%6.5%-0.7%-3.6M55.6M-867.0K0.924.266,2125,733119,336127,808
2025-02-12$29.77$32.5032.9%9.3%25.2%29.3%32.8%-12.6%0.9%-3.0M41.1M-910.6K0.4329.9418,9868,118124,069126,449
2025-02-13$29.91$30.0032.9%9.4%25.5%29.4%32.9%2.6%-0.3%-1.9M25.8M-969.2K1.426.857,55110,696137,175130,300
2025-02-14$30.27$30.0032.6%9.3%25.2%28.6%32.3%2.9%0.0%-3.8M9.3M-1.0M0.673.8111,7037,880141,274137,861
2025-02-18$30.05$30.0033.4%9.6%25.2%31.1%33.3%3.7%-0.4%-1.4M18.7M-989.4K0.323.4416,0245,054143,133133,315
2025-02-19$30.21$30.0031.9%9.2%21.9%26.4%32.0%2.4%-0.4%-1.4M10.8M-996.2K0.6439.0710,6216,833144,897135,893
2025-02-20$30.57$30.0032.2%9.4%20.2%27.1%32.6%3.8%-1.5%504.6K-5.9M-1.0M1.488.064,9787,376147,343139,409
2025-02-21$29.95$30.0034.6%10.7%21.2%34.9%36.6%4.1%-0.6%-5.6M23.1M-1.0M0.9231.629,6028,826148,333136,442
2025-02-24$30.30$30.0035.0%10.1%21.8%36.1%34.2%1.4%-2.3%-330.4K6.5M-997.6K0.328.5311,9903,865106,444128,272
2025-02-25$30.27$30.0036.1%10.5%19.4%39.5%36.6%-2.5%2.9%260.6K3.8M-1.0M1.1611.843,1863,686113,604131,113
2025-02-26$30.73$30.0035.8%11.2%19.1%38.7%34.4%3.2%-1.1%879.5K-13.8M-1.0M0.335.766,8092,256114,448132,749
2025-02-27$30.60$30.0038.1%10.8%18.9%46.0%37.7%3.5%2.2%561.8K-10.0M-1.1M0.705.853,9172,732116,115133,911
2025-02-28$30.98$30.0034.5%10.5%19.1%34.7%36.7%0.7%0.6%2.3M-23.3M-1.1M0.808.743,9023,134117,295135,114