Southwest Airlines (LUV) Options Chain
NYSE: LUVConsumer DiscretionaryAir Freight/Delivery ServicesUSD
At close: Oct 8, 4:00 PM ET · Delayed 15 min
Pre-market: 40.80 -1.35%
Expiration date
- Expiration
- Oct 9, 2026
- Days to expiration
- 0
- Share price
- $41.36
- Put/call ratio (OI)
- 0.57
- Put/call ratio (volume)
- 1.86
- Expected move
- ±$0.0678
- Open interest (C / P)
- 4.84K / 2.77K
LUV options summary
The LUV options chain for the October 9, 2026 expiration lists 38 call and 31 put contracts, expiring today. Open interest stands at 4,845 calls and 2,770 puts, a put/call ratio of 0.57, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $41.50 strike is 3.1%, which implies the market expects a move of about ±$0.0678 (0.2%) in Southwest Airlines stock by expiration.
The most open interest sits at the $44.00 call (734 contracts) and the $40.50 put (529 contracts).
Summary generated from market data by MetaCap's automated system. Methodology
LUV options chain · October 9, 2026
| Calls | Puts | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Last | Bid | Ask | Strike | Bid | Ask | Last | |||||
| 13.07 | 0.00 | 0.00 | 28.00 | — | — | 0.90 | |||||
| 11.90 | — | — | 29.00 | 0.00 | 0.00 | 0.92 | |||||
| 11.00 | 0.00 | 0.00 | 30.00 | 0.00 | 0.00 | 0.31 | |||||
| 9.96 | — | — | 31.00 | — | — | — | |||||
| 9.15 | — | — | 32.00 | 0.00 | 0.00 | 0.48 | |||||
| 8.00 | — | — | 33.00 | 0.00 | 0.00 | 0.52 | |||||
| 7.02 | — | — | 34.00 | 0.00 | 0.00 | 0.03 | |||||
| 5.95 | 0.00 | 0.00 | 35.00 | 0.00 | 0.00 | 0.09 | |||||
| 5.42 | 0.00 | 0.00 | 35.50 | 0.00 | 0.00 | 0.13 | |||||
| 4.95 | 0.00 | 0.00 | 36.00 | 0.00 | 0.00 | 0.03 | |||||
| 5.80 | 0.00 | 0.00 | 36.50 | 0.00 | 0.00 | 0.04 | |||||
| 4.18 | 0.00 | 0.00 | 37.00 | 0.00 | 0.00 | 0.01 | |||||
| 3.75 | — | — | 37.50 | 0.00 | 0.00 | 0.01 | |||||
| 3.18 | 0.00 | 0.00 | 38.00 | 0.00 | 0.00 | 0.05 | |||||
| 2.73 | 0.00 | 0.00 | 38.50 | 0.00 | 0.00 | 0.01 | |||||
| 2.78 | 0.00 | 0.00 | 39.00 | 0.00 | 0.00 | 0.08 | |||||
| 2.35 | — | — | 39.50 | 0.00 | 0.00 | 0.12 | |||||
| 1.25 | 0.00 | 0.00 | 40.00 | 0.00 | 0.00 | 0.17 | |||||
| 1.15 | 0.00 | 0.00 | 40.50 | 0.00 | 0.00 | 0.35 | |||||
| 0.78 | 0.00 | 0.00 | 41.00 | 0.00 | 0.00 | 0.52 | |||||
| 0.46 | 0.00 | 0.00 | 41.50 | 0.00 | 0.00 | 0.88 | |||||
| 0.35 | 0.00 | 0.00 | 42.00 | 0.00 | 0.00 | 0.94 | |||||
| 0.18 | 0.00 | 0.00 | 42.50 | 0.00 | 0.00 | 1.25 | |||||
| 0.14 | 0.00 | 0.00 | 43.00 | 0.00 | 0.00 | 2.02 | |||||
| 0.07 | 0.00 | 0.00 | 43.50 | 0.00 | 0.00 | 2.17 | |||||
| 0.06 | 0.00 | 0.00 | 44.00 | 0.00 | 0.00 | 3.04 | |||||
| 0.03 | 0.00 | 0.00 | 44.50 | — | — | 2.10 | |||||
| 0.02 | 0.00 | 0.00 | 45.00 | — | — | — | |||||
| 0.02 | 0.00 | 0.00 | 45.50 | — | — | — | |||||
| 0.01 | 0.00 | 0.00 | 46.00 | — | — | — | |||||
| 0.03 | — | — | 46.50 | — | — | — | |||||
| 0.04 | 0.00 | 0.00 | 47.00 | — | — | — | |||||
| 0.10 | 0.00 | 0.00 | 47.50 | — | — | — | |||||
| 0.13 | 0.00 | 0.00 | 48.00 | 0.00 | 0.00 | 5.77 | |||||
| 0.07 | — | — | 48.50 | — | — | 6.20 | |||||
| 0.01 | 0.00 | 0.00 | 49.00 | 0.00 | 0.00 | 8.96 | |||||
| 0.05 | 0.00 | 0.00 | 50.00 | — | — | 8.06 | |||||
| — | — | — | 51.00 | 0.00 | 0.00 | 8.82 | |||||
| 0.04 | 0.00 | 0.00 | 60.00 | — | — | — | |||||
In-the-money callsIn-the-money puts. IV = implied volatility, OI = open interest (contracts). Each contract covers 100 shares. Quotes delayed at least 15 minutes.
Frequently asked questions
What is the LUV put/call ratio?
For the October 9, 2026 expiration, the LUV put/call ratio based on open interest is 0.57 (2,770 puts vs 4,845 calls), and 1.86 based on today's volume. A ratio above 1 means more puts than calls.
What is LUV's implied volatility?
At-the-money implied volatility for LUV options expiring October 9, 2026 is about 3.1%, an annualized estimate of how much the market expects Southwest Airlines stock to move.
How many LUV option expiration dates are there?
LUV has 14 listed expiration dates, from Oct 9, 2026 to Jan 19, 2029.
What does "in the money" mean?
A call is in the money when the strike price is below the current share price; a put is in the money when the strike is above it. In-the-money contracts have intrinsic value and are shaded in the table.