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Southwest call volume above normal and directionally bullish

Bullish option flow detected in Southwest (LUV) with 20,755 calls trading, 4x expected, and implied vol increasing over 1 point to 35.32%. Mar-26 40 calls and Jan-26 35 puts are the most active options, with total volume in those strikes near 17,100 contracts. The Put/Call Ratio is 0.34. Earnings are expected on January 29th.

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