SOUTHWEST AIRLINES CO (LUV) Options Statistics & Positioning

SOUTHWEST AIRLINES CO (LUV) options trade at a 30-day at-the-money implied volatility of 55.0%, an IV rank of 47 out of 100 over the past year. The options market prices a ±$5.20 (±10.8%) move in LUV for the front expiration. Max pain sits at $46 and the put/call open interest ratio is 0.62. Statistics are computed by OptiView from delayed OPRA options data and refresh every trading day.

Data as of Jul 10, 2026, 8:00 PM ET · OPRA data 15 minutes delayed · For information only — not investment advice.

Last close

$48.25

52-week range

$29.07 – $54.64

ATM IV (30d)

55.0%

IV rank

47 / 100

Moderate

Expected move

±$5.20 (±10.8%)

Put/call OI

0.62

Call-heavy

Max pain

$46

↓ 4.7% below close

Next earnings

Jul 27, 2026

Most Active LUV Contracts

Contract	Expiration	DTE	Last	IV	Volume
LUV $51 call	Jul 24, 2026	14d	$1.21	53.7%	2,040
LUV $46 put	Jul 17, 2026	7d	$0.31	48.7%	293
LUV $48 call	Jul 24, 2026	14d	$2.50	52.4%	248
LUV $51 call	Jul 17, 2026	7d	$0.29	39.0%	168
LUV $47.5 call	Jul 17, 2026	7d	$1.68	34.3%	157

See all active LUV contracts →

Explore LUV Options Statistics

LUV Implied Volatility

55.0% ATM IV (30d)

An IV rank of 47 places implied volatility in the middle of its 52-week range.

Full implied volatility analysis →

LUV Open Interest

0.62 put/call OI ratio

160,329 calls and 99,622 puts outstanding across all expirations.

Full open interest analysis →

LUV Max Pain

$46 max pain

4.7% below the last close — see how max pain has moved over the past year.

Full max pain analysis →

LUV Gamma Exposure

$780.54M net GEX

Positive dealer gamma — hedging currently leans against price swings.

Full gamma exposure analysis →

LUV Options Volume

11,667 contracts traded

Put/call volume ratio 0.61 — plus contracts running far above their usual volume.

Full volume & flow analysis →

LUV Most Active Options

$51 top volume strike

The 25 most actively traded LUV contracts with price, IV, greeks, and volume vs. average.

Full active contracts analysis →

Upcoming Earnings

LUV's next expected earnings date is Jul 27, 2026. Options currently price a ±$5.20 (±10.8%) move for the front expiration.

Explore the payoff profile of option on LUV for free

Build multi-leg LUV strategies, visualize payoffs, and scan the full US options universe with OptiView.

Open LUV in the platform Scan options

LUV Options FAQ

When is LUV's next earnings date?

LUV's next expected earnings date is Jul 27, 2026. Options currently price a ±$5.20 (±10.8%) move for the front expiration.

How often is LUV options data on this page updated?

All LUV statistics on this page are computed by OptiView from delayed OPRA options data and refresh every trading day after the session close.

Where can I see LUV max pain, open interest, and implied volatility in detail?

OptiView publishes dedicated LUV pages for implied volatility, max pain, open interest, gamma exposure, options volume, and the most active contracts — each with charts, history, and a plain-English explanation of what the numbers mean.

Methodology. IV rank compares the current 30-day at-the-money implied volatility with its highest and lowest values over the past 52 weeks. Max pain is the strike that minimizes the total payout to option holders at expiration. The call and put walls are the strikes carrying the largest call and put open interest across all expirations. Net gamma exposure (GEX) is measured from the dealer perspective. All statistics are derived from delayed OPRA options data.

Options trading involves significant risk, and losses can exceed your initial investment. Always consult a licensed financial professional before making investment decisions. OptiView does not provide financial advice; all figures on this page are descriptive statistics, not recommendations.