LUV - Options Database

LUV

SOUTHWEST AIRLS CO

$40.38 +1.23%

(8/20 18:03) ◀

Friday, August 21, 2026 (6:03pm)

▶ (8/25 18:03)

◀ 8/21 18:03 ▶

Option Volume

Detail

ℹ

Current (08/21) 7,289

Calls: 4,402 (60%)

Puts: 2,887 (40%)

Prior (08/20) 24,110

Calls: 11,398 (47%)

Puts: 12,712 (53%)

Current vs Prior -69.77%

Calls: -61.38% (Calls)

Puts: -77.29% (Puts)

Prior 7-Day Total 97,731

Calls: 54,077 (55%)

Puts: 43,654 (45%)

Prior 7-Day Average 13,961

Calls: 7,725 (55%)

Puts: 6,236 (45%)

Current vs Prior 7-Day Avg -47.79%

Calls: -43.02%

Puts: -53.71%

Sentiment BULLISH

Dollar Volume

Detail

ℹ

Current (08/21) $1.23M

Calls: $760.6K (62%)

Puts: $468.3K (38%)

Prior (08/20) $6.38M

Calls: $1.83M (29%)

Puts: $4.55M (71%)

Current vs Prior -80.74%

Calls: -58.52%

Puts: -89.70%

Prior 7-Day Total $25.21M

Calls: $7.14M (28%)

Puts: $18.07M (72%)

Prior 7-Day Average $3.60M

Calls: $1.02M (28%)

Puts: $2.58M (72%)

Current vs Prior 7-Day Avg -65.88%

Calls: -25.39%

Puts: -81.86%

Sentiment BULLISH

Put/Call Ratio

Detail

ℹ

Current (08/21) 0.66

Prior (08/20) 1.12

Current vs Prior -41.20%

Prior 7-Day Average 0.76

Current vs Prior 7-Day Avg -13.68%

Sentiment BULLISH

Open Interest

Detail

ℹ

Current (08/21) 246,432

Calls: 144,647 (59%)

Puts: 101,785 (41%)

Prior (08/20) 239,458

Calls: 138,407 (58%)

Puts: 101,051 (42%)

Current vs Prior +2.91%

Prior 7-Day Total 1,660,723

Calls: 963,394 (58%)

Puts: 697,329 (42%)

Prior 7-Day Average 237,246

Calls: 137,627 (58%)

Puts: 99,618 (42%)

Current vs Prior 7-Day Avg +3.87%

Sentiment BEARISH

Expected Move

Detail

ℹ

WKMO Expiry (08/21) | Next (08/28)Expiry (08/21) | Next (09/18)

Current 2.63% | 4.09%2.63% | 8.37%

Prior 3.23% | 4.46%3.23% | 8.45%

Current vs Prior +26.35% | +50.40%-18.83% | -0.92%

Prior 7-Day Avg 3.46% | 5.44%4.13% | 8.89%

Current vs 7-Day Avg +17.94% | +23.47%-36.38% | -5.88%

Prior 7-Day Eod 3.23% | 4.46%3.23% | 8.45%

Current vs 7-Day Eod +26.35% | +50.40%-18.83% | -0.92%

Sentiment BEARISHBULLISH

Relative Spread

Detail

ℹ

Expiry | Next

Current 14.43% | 12.34%

Calls: 15.34% | 16.11%

Puts: 13.53% | 8.57%

Prior 14.43% | 12.34%

Calls: 15.34% | 16.11%

Puts: 13.53% | 8.57%

Current vs Prior +0.00% | +0.00%

Prior 7-Day Avg 14.43% | 12.34%

Calls: 15.34% | 16.11%

Puts: 13.53% | 8.57%

Current vs 7-Day Avg +0.00% | +0.00%

Liquidity Expensive

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Moderately bullish flow with 62% call dollar volume ($760.6K). Light premium activity with dollar volume down 81% vs prior. Below-average activity with volume down 70% vs prior. Bullish P/C ratio of 0.66.

Smart Money BULLISH

Retail Flow BULLISH

Overall BULLISH

Dollar Volume

Option Volume

Put/Call Ratio

Open Interest

Expected Move

Current BULLISH

Prior BEARISH

7-Day Avg BEARISH

Current BULLISH

Prior NEUTRAL

7-Day Avg NEUTRAL

Current BULLISH

Prior NEUTRAL

7-Day Avg NEUTRAL

Current BULLISH

Prior BULLISH

7-Day Avg NEUTRAL

Current BEARISH

Prior BULLISH

7-Day Avg BULLISH

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Tightest Spreads

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Best Value <$1

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Covered Calls

Options with the tightest bid-ask spreads (<10%). Lower spreads = better fills and less slippage. Showing top 7 of results (avg 8.2%, best 5.4%)

CALLS (2)

Strike	Expiry	Bid	Ask	Mark	Spread	Vol	Delta	OI
$36.00	Aug 28	4.15	4.50	$4.33	8.1%	87	0.98	3
$32.50	Sep 18	7.45	8.20	$7.82	9.6%	--	1.00	236

PUTS (5)

Strike	Expiry	Bid	Ask	Mark	Spread	Vol	Delta	OI
$47.50	Sep 18	7.20	7.60	$7.40	5.4%	2	0.93	3.2K
$45.00	Sep 18	4.90	5.30	$5.10	7.8%	11	0.85	3.7K
$43.00	Oct 2	3.50	3.80	$3.65	8.2%	35	0.69	35
$42.50	Sep 18	2.89	3.15	$3.02	8.6%	33	0.69	3.7K
$43.50	Sep 4	3.35	3.70	$3.53	9.9%	1	0.88	75

Affordable options under $1.00 per contract. Great for defined-risk strategies with minimal capital. 3 found (avg $0.60, cheapest $0.72)

CALLS (3)

Strike	Expiry	Bid	Ask	Mark	Spread	Vol	Delta	OI
$40.50	Aug 28	0.66	0.78	$0.72	16.7%	1	0.49	99
$45.00	Sep 18	0.28	0.34	$0.31	19.4%	197	0.15	5.7K
$42.50	Sep 18	0.72	0.83	$0.77	14.3%	95	0.31	3.9K

PUTS (0)

No puts meet the criteria

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 82 found (avg delta 0.80, highest 1.00)

CALLS (5)

Strike	Expiry	Bid	Ask	Mark	Spread	Vol	Delta	OI
$35.00	Aug 21	4.75	5.55	$5.15	15.5%	9	1.00	9
$37.50	Aug 21	1.43	4.20	$2.82	98.2%	1	1.00	7
$40.00	Aug 21	0.00	0.64	$0.32	200.0%	20	1.00	88
$32.50	Sep 18	7.45	8.20	$7.82	9.6%	--	1.00	236
$36.00	Aug 28	4.15	4.50	$4.33	8.1%	87	0.98	3

PUTS (5)

Strike	Expiry	Bid	Ask	Mark	Spread	Vol	Delta	OI
$45.50	Aug 28	4.00	6.90	$5.45	53.2%	2	1.00	4
$48.00	Aug 28	5.95	9.60	$7.78	46.9%	--	1.00	73
$47.00	Aug 21	6.10	7.80	$6.95	24.5%	--	0.99	179
$45.00	Aug 21	4.40	5.20	$4.80	16.7%	36	0.99	223
$43.00	Aug 21	2.49	2.88	$2.69	14.5%	5	0.99	70

Most actively traded options today. High liquidity = easy entry/exit. 139 active (total vol 5.1K, top 748)

CALLS (5)

Strike	Expiry	Bid	Ask	Mark	Spread	Vol	Delta	OI
$40.00	Sep 18	1.73	1.96	$1.85	12.4%	748	0.54	2.5K
$39.00	Sep 4	1.64	2.33	$1.99	34.7%	546	0.68	--
$45.00	Sep 18	0.28	0.34	$0.31	19.4%	197	0.15	5.7K
$43.00	Aug 28	0.05	0.10	$0.08	62.5%	138	0.09	163
$41.00	Aug 28	0.41	0.61	$0.51	39.2%	136	0.39	107

PUTS (5)

Strike	Expiry	Bid	Ask	Mark	Spread	Vol	Delta	OI
$40.00	Sep 18	1.45	1.61	$1.53	10.5%	619	0.46	4.8K
$41.00	Aug 21	0.46	1.01	$0.74	74.3%	391	0.89	1.1K
$41.00	Aug 28	0.89	1.20	$1.05	29.5%	259	0.61	109
$35.00	Sep 18	0.10	0.23	$0.17	76.5%	127	0.08	2.9K
$39.00	Aug 28	0.18	0.31	$0.25	52.0%	100	0.22	30

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 11 strikes (avg 4584.4%, max 6118.2%)

CALLS (5)

Strike	Near Exp	Far Exp	Near IV	Far IV	Back%	Vol	OI
$44.50	Aug 21	Sep 4	2062.8%	36.6%	5541.9%	17	359
$42.50	Aug 21	Sep 18	1563.4%	36.8%	4146.2%	95	4.0K
$43.50	Aug 21	Aug 28	1823.9%	46.5%	3823.5%	22	273
$45.50	Aug 21	Sep 4	2285.2%	64.6%	3438.3%	--	256
$46.50	Aug 21	Sep 4	1735.9%	71.9%	2314.5%	1	608

PUTS (5)

Strike	Near Exp	Far Exp	Near IV	Far IV	Back%	Vol	OI
$36.00	Aug 21	Oct 2	2357.1%	37.9%	6118.2%	1	12
$43.50	Aug 21	Sep 4	1823.9%	32.3%	5543.2%	2	145
$37.00	Aug 21	Oct 2	2043.4%	37.7%	5314.7%	4	61
$45.50	Aug 21	Aug 28	2285.2%	42.5%	5274.3%	4	47
$38.00	Aug 21	Oct 2	1722.7%	35.4%	4767.5%	2	45

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 64 found (best R:R 1.70, avg 2.51)

BULL CALL (5)

Buy	Sell	Expiry	Debit	Max Gain	Max Loss	POP	R:R	BE
$37.50	$39.00	Sep 4	$0.85	$0.65	$0.85	85%	0.76	$38.35
$37.50	$40.00	Sep 18	$1.53	$0.97	$1.53	77%	0.63	$39.03
$40.00	$40.50	Sep 4	$0.11	$0.39	$0.11	55%	3.55	$40.11
$40.00	$40.50	Aug 28	$0.14	$0.36	$0.14	59%	2.57	$40.14
$42.00	$43.00	Sep 11	$0.13	$0.87	$0.13	30%	6.69	$42.13

BEAR PUT (5)

Buy	Sell	Expiry	Debit	Max Gain	Max Loss	POP	R:R	BE
$48.00	$47.00	Sep 11	$0.37	$0.63	$0.37	88%	1.70	$47.63
$42.00	$41.00	Oct 2	$0.26	$0.74	$0.26	62%	2.85	$41.74
$43.50	$43.00	Sep 4	$0.14	$0.36	$0.14	88%	2.57	$43.36
$43.00	$42.00	Sep 11	$0.47	$0.53	$0.47	77%	1.13	$42.53
$42.00	$41.50	Sep 4	$0.15	$0.35	$0.15	70%	2.33	$41.85

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 43 found (best R:R 4.00, avg 0.63)

BEAR CALL (5)

Sell	Buy	Expiry	Credit	Max Gain	Max Loss	POP	R:R	BE
$46.50	$47.00	Aug 21	$0.40	$0.40	$0.10	84%	4.00	$46.90
$46.50	$47.00	Sep 4	$0.35	$0.35	$0.15	83%	2.33	$46.85
$46.50	$47.00	Aug 28	$0.29	$0.29	$0.21	82%	1.38	$46.79
$45.50	$46.00	Sep 4	$0.23	$0.23	$0.27	82%	0.85	$45.73
$40.50	$41.00	Sep 4	$0.36	$0.36	$0.14	51%	2.57	$40.86

BULL PUT (5)

Sell	Buy	Expiry	Credit	Max Gain	Max Loss	POP	R:R	BE
$37.50	$35.00	Sep 18	$0.44	$0.44	$2.06	76%	0.21	$37.06
$39.00	$38.00	Sep 25	$0.49	$0.49	$0.51	62%	0.96	$38.51
$40.00	$37.50	Sep 18	$0.92	$0.92	$1.58	54%	0.58	$39.08
$39.00	$38.00	Oct 2	$0.45	$0.45	$0.55	62%	0.82	$38.55
$40.00	$39.00	Sep 11	$0.50	$0.50	$0.50	54%	1.00	$39.50

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 5 found (avg debit $0.35, cheapest $0.21)

CALLS (2)

Strike	Near Exp	Far Exp	Net Debit	Near IV	Far IV
$39.50	Aug 28	Sep 4	$0.26	35.0%	36.2%
$40.50	Aug 28	Sep 4	$0.49	34.6%	42.0%

PUTS (3)

Strike	Near Exp	Far Exp	Net Debit	Near IV	Far IV
$43.50	Aug 21	Aug 28	$0.21	1823.9%	46.5%
$42.50	Aug 21	Aug 28	$0.21	1563.4%	34.2%
$40.50	Aug 28	Sep 4	$0.60	34.6%	42.0%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 44 found (cheapest 0.82% of stock, avg 6.96%)

Strike	Expiry	Call$	Put$	Total	BE Low	BE High	Cost%
$40.00	Aug 21	$0.32	$0.01	$0.33	$39.67	$40.33	0.82%
$41.00	Aug 21	$0.03	$0.74	$0.77	$40.23	$41.77	1.91%
$39.00	Aug 21	$1.25	$0.01	$1.26	$37.74	$40.26	3.12%
$41.50	Aug 21	$0.03	$1.29	$1.32	$40.18	$42.82	3.27%
$40.00	Aug 28	$0.86	$0.57	$1.43	$38.57	$41.43	3.54%
$40.50	Aug 28	$0.72	$0.79	$1.51	$38.99	$42.01	3.74%
$41.00	Aug 28	$0.51	$1.05	$1.56	$39.44	$42.56	3.86%
$42.00	Aug 21	$0.03	$1.61	$1.64	$40.36	$43.64	4.06%
$39.50	Aug 28	$1.30	$0.40	$1.70	$37.80	$41.20	4.21%
$39.00	Aug 28	$1.60	$0.25	$1.85	$37.15	$40.85	4.58%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 149 found (cheapest 0.74% of stock, avg 3.22%)

Call K	Put K	Expiry	Call$	Put$	Total	BE Low	BE High
$47.50	$35.00	Sep 18	$0.13	$0.17	$0.30	$34.70	$47.80
$42.00	$38.00	Aug 28	$0.21	$0.12	$0.33	$37.67	$42.33
$42.00	$38.50	Aug 28	$0.21	$0.19	$0.40	$38.10	$42.40
$44.00	$37.00	Sep 11	$0.18	$0.26	$0.44	$36.56	$44.44
$42.00	$39.00	Aug 28	$0.21	$0.25	$0.46	$38.54	$42.46
$46.50	$40.00	Aug 21	$0.41	$0.01	$0.42	$39.58	$46.92
$45.00	$35.00	Sep 18	$0.31	$0.17	$0.48	$34.52	$45.48
$46.00	$37.00	Sep 11	$0.28	$0.26	$0.54	$36.46	$46.54
$41.50	$38.00	Aug 28	$0.39	$0.12	$0.51	$37.49	$42.01
$44.00	$35.00	Sep 11	$0.18	$0.47	$0.65	$34.35	$44.65

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 32 found (best R:R 3.17, avg credit $0.43)

Put Spread	Call Spread	Expiry	Credit	Max Loss	POP	R:R	BE Low	BE High
37/38	46/46	Sep 4	$0.38	$0.12	65%	3.17	$37.12	$45.88
38/39	46/47	Sep 4	$0.67	$0.33	51%	2.03	$38.33	$47.17
37/38	44/44	Sep 4	$0.27	$0.23	69%	1.17	$37.23	$44.27
37/38	42/42	Sep 4	$0.34	$0.16	53%	2.13	$37.16	$42.34
37/38	42/43	Sep 4	$0.29	$0.21	60%	1.38	$37.21	$42.79
39/40	45/46	Aug 28	$0.29	$0.21	58%	1.38	$39.21	$45.29
39/40	44/44	Aug 28	$0.27	$0.23	56%	1.17	$39.23	$43.77
38/39	46/46	Sep 4	$0.55	$0.45	50%	1.22	$38.45	$46.05
36/37	46/47	Sep 25	$0.41	$0.59	63%	0.69	$36.59	$46.41
39/40	42/42	Aug 28	$0.33	$0.17	38%	1.94	$39.17	$41.83

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 64 found (best R:R 4.56, cheapest $0.05)

CALLS (5)

Low	Mid	High	Expiry	Debit	Max Gain	POP	R:R
$37.50	$40.00	$42.50	Sep 18	$0.45	$2.05	46%	4.56
$39.00	$40.00	$41.00	Aug 21	$0.64	$0.36	86%	0.56
$35.00	$37.50	$40.00	Sep 18	$0.54	$1.96	39%	3.63
$42.50	$45.00	$47.50	Sep 18	$0.28	$2.22	24%	7.93
$32.50	$35.00	$37.50	Sep 18	$0.30	$2.20	23%	7.33

PUTS (5)

Low	Mid	High	Expiry	Debit	Max Gain	POP	R:R
$37.50	$40.00	$42.50	Sep 18	$0.57	$1.93	45%	3.39
$42.50	$45.00	$47.50	Sep 18	$0.22	$2.28	24%	10.36
$35.00	$37.50	$40.00	Sep 18	$0.48	$2.02	38%	4.21
$39.00	$40.00	$41.00	Aug 21	$0.73	$0.27	86%	0.37
$38.00	$39.00	$40.00	Sep 4	$0.13	$0.87	25%	6.69

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 77 found (best net $-0.02, 57 credits)

CALLS (5)

Buy K	Sell K	Ratio	Expiry	Net	Max Gain
$37.00	$40.00	1:2	Oct 2	-$0.02	$2.98
$36.00	$38.00	1:2	Aug 28	-$0.51	$1.49
$37.50	$40.00	1:2	Sep 18	-$0.32	$2.18
$35.00	$37.50	1:2	Sep 18	-$1.31	$1.19
$37.50	$39.00	1:2	Sep 4	-$1.14	$0.36

PUTS (5)

Buy K	Sell K	Ratio	Expiry	Net	Max Gain
$42.50	$40.00	1:2	Sep 18	-$0.04	$2.46
$45.00	$42.50	1:2	Sep 18	-$0.94	$1.56
$41.50	$41.00	1:2	Aug 21	-$0.19	$0.31
$40.00	$39.00	1:2	Sep 4	-$0.20	$0.80
$40.00	$39.00	1:2	Sep 11	-$0.23	$0.77

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 23 found (best yield 1.68%, avg 0.87%)

Strike	Expiry	Bid	Delta	OTM%	Yield%	If Called%	Vol	OI
$43.00	Sep 25	$0.68	0.30	6.5%	1.68%	8.17%	26	1
$42.50	Sep 18	$0.72	0.31	5.2%	1.78%	7.03%	95	3.9K
$44.00	Sep 25	$0.44	0.23	9.0%	1.09%	10.05%	8	15
$44.00	Oct 2	$0.34	0.25	9.0%	0.84%	9.81%	--	12
$45.00	Sep 25	$0.30	0.19	11.4%	0.74%	12.18%	24	27
$45.00	Oct 2	$0.22	0.20	11.4%	0.54%	11.99%	8	13
$46.00	Sep 25	$0.19	0.15	13.9%	0.47%	14.39%	--	108
$41.00	Sep 4	$0.72	0.41	1.5%	1.78%	3.32%	9	11
$45.00	Sep 18	$0.28	0.15	11.4%	0.69%	12.13%	197	5.7K
$42.00	Sep 4	$0.44	0.30	4.0%	1.09%	5.10%	10	13

Current 5-Minute Volume Snapshots

Time (HH:MM)	Total Volume	Call Volume	Put Volume	Volume Change
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Prior's 5-Minute Volume Snapshots

Time (HH:MM)	Total Volume	Call Volume	Put Volume	Volume Change
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Current Put/Call Breakdown

Total Calls 4,402

Total Puts 2,887

Put/Call Ratio 0.66

Net Difference 1,515

Prior's Put/Call Breakdown

Total Calls 11,398

Total Puts 12,712

Put/Call Ratio 1.12

Net Difference -1,314

Prior 7-Day Put/Call Summary

Total Calls 54,077

Total Puts 43,654

Average Put/Call Ratio 0.76

Ratio Trend Falling

Daily Put/Call History (Last 7 Days)

Date	Calls	Puts	Ratio	Net Diff
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Upcoming Earnings - 2 Weeks Prior

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Upcoming Earnings - 1 Week Prior

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Earnings This Week

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Earnings - Day Before / Day After

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Options Activity Around Earnings

Ticker	Earnings Date	Days Away	Call Volume	Put Volume	IV Rank
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Option Volume

Dollar Volume

Put/Call Ratio

Open Interest

Expected Move

Relative Spread

🤖 AI Insights

📈 Options Analysis

Current 5-Minute Volume Snapshots

Prior's 5-Minute Volume Snapshots

Current Put/Call Breakdown

Prior's Put/Call Breakdown

Prior 7-Day Put/Call Summary

Daily Put/Call History (Last 7 Days)

Upcoming Earnings - 2 Weeks Prior

Upcoming Earnings - 1 Week Prior

Earnings This Week

Earnings - Day Before / Day After

Options Activity Around Earnings

Chart Title

Price — Past 7 Days

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