Southwest Airlines (LUV) Options Chain

NYSE: LUVConsumer DiscretionaryAir Freight/Delivery ServicesUSD

41.66+0.30 (+0.73%)

At close: Oct 9, 4:00 PM ET · Delayed 15 min

Expiration date

Expiration: Nov 6, 2026
Days to expiration: 26
Share price: $41.66
Put/call ratio (OI): 1.48
Put/call ratio (volume): 3.48
ATM implied volatility: 50.2%
Expected move: ±$5.58
Open interest (C / P): 128 / 189

LUV options summary

The LUV options chain for the November 6, 2026 expiration lists 12 call and 11 put contracts, with 26 days until expiration. Open interest stands at 128 calls and 189 puts, a put/call ratio of 1.48, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $42.00 strike is 50.2%, which implies the market expects a move of about ±$5.58 (13.4%) in Southwest Airlines stock by expiration.

The most open interest sits at the $55.00 call (30 contracts) and the $40.00 put (107 contracts).

Summary generated from market data by MetaCap's automated system. Methodology

LUV options chain · November 6, 2026

LUV calls and puts by strike price. Shaded cells are in the money.
Calls							Puts
OI	Vol	IV	Last	Bid	Ask	Strike	Bid	Ask	Last	IV	Vol	OI
1	1	68.8%	13.21	10.80	14.65	29.00	—	—	—	—	—	—
—	—	—	—	—	—	33.00	0.00	1.55	0.30	88.1%	1	2
—	—	—	—	—	—	34.00	0.00	1.55	0.14	80.2%	2	2
—	—	—	—	—	—	35.00	0.01	0.28	0.23	51.9%	1	14
—	—	—	—	—	—	36.00	0.08	0.82	0.45	52.9%	10	21
—	—	—	—	—	—	37.00	0.21	0.76	0.39	56.5%	1	1
—	—	—	—	—	—	38.00	0.37	1.25	0.96	50.2%	—	1
—	—	—	—	—	—	39.00	0.64	1.44	1.00	58.4%	1	30
11	4	58.5%	3.10	2.85	4.15	40.00	0.99	1.40	1.40	48.1%	50	107
—	—	—	—	—	—	41.00	—	—	1.81	—	—	—
LUV $41.66
—	—	—	2.48	—	—	42.00	1.67	2.45	2.25	50.2%	5	9
19	2	53.7%	1.46	1.30	1.85	43.00	—	—	—	—	—	—
4	1	63.7%	1.10	0.63	1.93	44.00	3.15	3.60	2.94	48.2%	2	2
29	5	50.3%	0.84	0.55	1.57	45.00	—	—	—	—	—	—
19	4	50.1%	0.64	0.36	1.27	46.00	—	—	—	—	—	—
11	—	49.8%	0.86	0.11	0.61	47.00	—	—	—	—	—	—
—	—	—	0.72	—	—	48.00	—	—	—	—	—	—
2	2	76.3%	0.66	0.03	2.29	49.00	—	—	—	—	—	—
2	2	80.7%	0.54	0.00	2.27	50.00	—	—	—	—	—	—
30	—	82.3%	0.16	0.00	1.10	55.00	—	—	—	—	—	—

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 November 6, 2026 expiration, the LUV put/call ratio based on open interest is 1.48 (189 puts vs 128 calls), and 3.48 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 November 6, 2026 is about 50.2%, an annualized estimate of how much the market expects Southwest Airlines stock to move.

How many LUV option expiration dates are there?

LUV has 13 listed expiration dates, from Oct 16, 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.