Bearish flow noted in Southwest (LUV) with 6,396 puts trading, or 1.8x expected. Most active are 11/22 weekly 31 puts and Nov-24 32.5 calls, with total volume in those strikes near 4,400 contracts. The Put/Call Ratio is 2.89, while ATM IV is up over 1 point on the day. Earnings are expected on January 30th.
Don't Miss our Black Friday Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LUV:
- Southwest put volume heavy and directionally bearish
- Southwest names Rakesh Gangwal as independent chair of board
- Southwest Airlines Faces Pressure from Looming Pilots’ Lawsuit
- Jefferies aerospace & defense analysts hold analyst/industry conference call
- Southwest price target raised to $26 from $20 at JPMorgan