Moderately bullish activity in Southwest (LUV), with shares up $1.09 (+3.62%) near $31.38.

Options volume is relatively light, with 13k contracts traded and calls leading puts for a put/call ratio of 0.27, compared to a typical level near 0.93. Implied volatility (IV30) rose 0.98 to 40.65,above the median, suggesting an expected daily move of $0.80. Put-call skew flattened, suggesting a modestly bullish tone.