Financial giants have made a conspicuous bullish move on Southwest Airlines. Our analysis of options history for Southwest Airlines (NYSE:LUV) revealed 8 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $102,700, and 6 were calls, valued at $166,822.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $22.5 to $32.5 for Southwest Airlines over the last 3 months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Southwest Airlines's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Southwest Airlines's significant trades, within a strike price range of $22.5 to $32.5, over the past month.
Southwest Airlines Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LUV | PUT | TRADE | BEARISH | 01/17/25 | $1.1 | $1.09 | $1.1 | $22.50 | $55.0K | 11.4K | 500 |
| LUV | PUT | TRADE | BULLISH | 09/20/24 | $0.56 | $0.52 | $0.53 | $22.50 | $47.7K | 2.1K | 908 |
| LUV | CALL | SWEEP | BULLISH | 09/20/24 | $0.84 | $0.82 | $0.84 | $32.50 | $34.6K | 1.4K | 3.9K |
| LUV | CALL | SWEEP | BULLISH | 09/20/24 | $0.85 | $0.83 | $0.85 | $32.50 | $28.2K | 1.4K | 1.9K |
| LUV | CALL | SWEEP | BEARISH | 01/16/26 | $3.85 | $3.75 | $3.75 | $32.50 | $26.6K | 863 | 71 |
About Southwest Airlines
Southwest Airlines is the largest domestic air carrier in the United States by passengers boarded. Southwest operates over 800 aircraft in an all-Boeing 737 fleet. Despite offering some longer routes and a few perks for business travelers, the airline predominantly specializes in short-haul, leisure flights operated in a single, open-seating cabin configuration in a point-to-point network.
After a thorough review of the options trading surrounding Southwest Airlines, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Southwest Airlines With a volume of 4,440,520, the price of LUV is down -0.84% at $27.89. RSI indicators hint that the underlying stock is currently neutral between overbought and oversold. Next earnings are expected to be released in 71 days. Professional Analyst Ratings for Southwest Airlines
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $25.76.
In a cautious move, an analyst from HSBC downgraded its rating to Hold, setting a price target of $27. An analyst from Raymond James has revised its rating downward to Outperform, adjusting the price target to $30. An analyst from Jefferies has revised its rating downward to Underperform, adjusting the price target to $20. Maintaining their stance, an analyst from TD Cowen continues to hold a Hold rating for Southwest Airlines, targeting a price of $25. An analyst from Bernstein persists with their Market Perform rating on Southwest Airlines, maintaining a target price of $26.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Southwest Airlines options trades with real-time alerts from Benzinga Pro.
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