LUV Options History — April 2025

In April 2025, LUV traded between $24.05 and $31.93. ATM implied volatility averaged 53.7%, placing in the 55.8% IV rank vs the trailing year. The 30-day expected move averaged 15.4%. IV traded below realized volatility by 27.0% (HV 20d: 80.7%). Max pain ranged from $27.50 to $35.00. Net GEX was positive for 5 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 1.21.

Notable Days

  • 2025-04-10: Highest Volume — 84,666 contracts
  • 2025-04-04: Largest IV spike — 44.3% change
  • 2025-04-04: Highest IV Rank — 100.0%
  • 2025-04-07: Largest Expected Move — 20.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$26.66$24.05$31.93$31.72$27.96
Max Pain$30.24$27.50$35.00$35.00$27.50
ATM IV53.7%39.7%83.1%42.3%45.0%
Expected Move15.4%10.8%20.9%11.2%12.9%
HV 20d80.7%46.2%93.4%46.2%92.2%
HV 60d53.1%33.1%60.1%33.1%60.1%
IV Rank55.8%29.5%100.0%59.3%35.9%
IV Percentile94.8%76.2%100.0%94.4%92.5%
Term Structure-1.0%-19.9%12.5%-2.1%-3.1%
VWIV54.6%39.8%75.0%41.3%47.9%
Skew 25d13.5%5.2%40.3%6.2%7.9%
Skew 10d21.9%-9.4%40.8%10.8%15.8%
Call IV 25d45.1%32.6%62.6%39.1%41.1%
Put IV 25d58.6%37.8%78.4%45.3%49.0%
Bid-Ask Spread %33.249.2247.0944.1943.32
Gamma HHI0.140.090.250.160.10
Net GEX-1.8M-5.8M4.5M-4.5M3.1M
Net DEX192.0M2.5M328.3M81.4M2.5M
Net VEX-1.4M-1.8M-1.1M-1.7M-1.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.210.373.101.331.18
Total Volume45,070.95219,50584,66649,01041,443
Total OI416,443.048349,080491,183364,156431,044

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-04-01$31.72$35.0042.3%11.2%46.2%59.3%41.3%6.2%-2.1%-4.5M81.4M-1.7M1.3344.1921,06027,950151,748212,408
2025-04-02$31.93$35.0039.7%10.8%46.2%51.2%39.8%6.5%0.7%-4.1M53.1M-1.8M1.8112.979,73317,588166,835221,082
2025-04-03$29.12$35.0047.6%12.7%57.3%76.4%45.7%8.3%-1.2%-5.8M238.6M-1.6M1.5644.3016,93726,421172,840225,993
2025-04-04$26.27$32.5068.7%16.5%67.7%100.0%63.9%16.3%-19.9%-3.7M319.0M-1.4M3.1033.3812,71939,422185,157225,280
2025-04-07$25.75$32.5083.1%20.9%67.1%100.0%69.2%33.0%4.3%-3.1M295.5M-1.4M0.6233.9423,36614,541176,763223,790
2025-04-08$24.59$32.5076.9%20.2%59.9%89.6%66.7%15.8%-6.5%-2.8M328.3M-1.2M0.9934.1812,90912,753186,616230,002
2025-04-09$28.59$30.0051.1%15.8%82.9%46.1%50.4%5.2%7.6%-3.7M182.7M-1.6M0.3747.0949,65318,430196,692230,616
2025-04-10$25.55$30.0060.5%19.8%90.4%62.0%75.0%40.3%-2.1%-2.4M298.6M-1.4M1.0242.1741,94742,719225,270237,973
2025-04-11$26.05$30.0062.2%18.6%90.4%64.8%68.1%13.0%4.2%-1.8M274.9M-1.4M1.4820.2517,65226,054252,201238,982
2025-04-14$25.68$30.0057.0%16.5%89.9%56.2%61.1%14.1%-12.2%-2.6M285.3M-1.2M0.8230.7711,5659,427212,339221,930
2025-04-15$25.78$30.0056.8%16.3%89.7%55.7%55.7%12.1%6.1%-2.2M236.6M-1.3M0.669.2218,98212,552219,091212,595
2025-04-16$24.77$30.0054.7%15.7%88.9%52.3%51.4%12.5%12.5%-5.2M283.0M-1.1M1.8038.0429,97553,927228,015218,983
2025-04-17$24.73$30.0054.9%15.9%87.9%52.6%56.5%11.9%-0.5%-2.4M243.7M-1.1M1.3238.1210,91014,360238,588206,953
2025-04-21$24.05$30.0059.0%17.4%87.2%59.4%62.2%12.3%-1.6%-2.8M215.0M-1.1M2.2325.727,63917,068166,045183,035
2025-04-22$24.65$27.5041.2%16.1%88.3%29.5%59.2%18.4%-9.1%-2.6M200.4M-1.2M1.1235.529,18410,321171,116192,308
2025-04-23$25.55$27.5049.5%15.5%90.3%43.5%55.7%16.0%4.7%-2.0M172.3M-1.3M0.4530.4156,89825,683176,145198,892
2025-04-24$26.58$27.5042.1%12.2%92.3%31.0%41.9%8.1%0.4%3.3M87.7M-1.4M0.9343.2439,45836,760217,653215,537
2025-04-25$26.32$27.5044.5%12.6%92.3%35.0%43.2%8.0%1.1%4.5M100.5M-1.4M1.2336.3323,45128,955229,495233,804
2025-04-28$26.94$27.5044.8%12.9%93.2%35.6%45.0%8.1%-0.5%1.7M76.0M-1.4M0.8720.3613,57311,744200,224198,773
2025-04-29$27.25$27.5045.0%13.5%93.4%35.9%47.6%9.5%-3.0%1.8M57.4M-1.5M0.5034.4320,51010,251206,948205,543
2025-04-30$27.96$27.5045.0%12.9%92.2%35.9%47.9%7.9%-3.1%3.1M2.5M-1.6M1.1843.3218,98722,456217,358213,686