LQD Options History — February 2025

In February 2025, LQD traded between $106.69 and $109.60. ATM implied volatility averaged 7.5%, placing in the 25.1% IV rank vs the trailing year. The 30-day expected move averaged 2.2%. IV traded above realized volatility by 0.8% (HV 20d: 6.7%). Max pain ranged from $107.00 to $108.00. Net GEX was positive for 18 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 1.91.

Notable Days

  • 2025-02-04: Highest Volume — 119,586 contracts
  • 2025-02-13: Largest IV drop — 7.7% change
  • 2025-02-04: Highest IV Rank — 45.5%
  • 2025-02-04: Largest Expected Move — 2.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$108.05$106.69$109.60$107.22$109.44
Max Pain$107.21$107.00$108.00$107.00$108.00
ATM IV7.5%6.4%8.5%8.4%7.1%
Expected Move2.2%1.9%2.6%2.4%2.1%
HV 20d6.7%6.4%7.1%6.8%6.8%
HV 60d7.2%6.9%7.5%7.5%7.0%
IV Rank25.1%4.7%45.5%43.0%17.9%
IV Percentile30.8%0.8%73.0%67.9%14.3%
Term Structure0.0%-0.3%0.2%-0.2%0.2%
VWIV7.6%6.8%9.2%8.4%7.2%
Skew 25d0.8%0.4%1.0%0.9%0.7%
Skew 10d1.5%-1.0%3.4%2.2%2.1%
Call IV 25d7.0%5.7%8.2%8.1%6.8%
Put IV 25d7.8%6.7%9.2%9.0%7.6%
Bid-Ask Spread %18.2210.4959.5213.9912.62
Gamma HHI0.140.100.190.100.17
Net GEX90.9M-104.0M217.6M41.8M191.3M
Net DEX-359.9M-1.22B394.3M-59.1M-1.12B
Net VEX-6.3M-7.1M-4.9M-5.0M-6.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.910.069.743.430.18
Total Volume32,997.5264,257119,58615,67513,075
Total OI826,998.789661,161984,632661,161808,621

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-02-03$107.22$107.008.4%2.4%6.8%43.0%8.4%0.9%-0.2%41.8M-59.1M-5.0M3.4313.993,54012,135309,167351,994
2025-02-04$107.48$107.008.5%2.6%6.7%45.5%9.2%1.0%-0.2%68.3M-177.8M-4.9M1.8227.7542,41677,170309,642352,626
2025-02-05$108.22$107.008.5%2.5%7.0%45.5%8.7%0.8%-0.3%135.2M-452.2M-6.4M1.5659.529,57014,919351,798412,525
2025-02-06$108.00$107.008.5%2.3%6.9%44.7%8.4%0.8%-0.2%116.4M-354.5M-6.3M4.1011.896,34826,058361,042426,960
2025-02-07$107.52$107.008.3%2.3%7.1%41.4%8.6%0.9%-0.1%53.7M-114.8M-6.3M0.4913.728,0913,963367,520446,658
2025-02-10$107.48$107.008.0%2.3%6.6%36.6%8.7%0.9%0.2%37.7M-71.7M-6.4M1.0017.9621,03821,089367,882445,686
2025-02-11$107.28$107.008.1%2.3%6.6%37.4%8.1%0.8%0.2%1.7M42.5M-6.7M9.7410.492,72126,504388,979467,988
2025-02-12$106.69$107.007.7%2.2%7.0%29.2%7.7%1.0%-0.1%-104.0M394.3M-6.7M1.7611.9212,40121,813389,360491,713
2025-02-13$107.62$107.007.1%2.0%6.4%17.9%7.6%0.9%0.1%45.4M-62.7M-6.8M0.7810.5216,84213,213395,409494,889
2025-02-14$108.03$107.006.9%2.0%6.4%14.4%7.2%0.7%0.1%119.2M-279.8M-6.7M3.9310.976,68526,272394,374506,637
2025-02-18$107.50$107.007.1%2.0%6.7%18.5%6.8%0.5%-0.0%36.8M19.4M-6.4M1.2319.588,97711,036398,580515,644
2025-02-19$107.66$107.006.8%1.9%6.5%12.1%6.9%0.5%0.1%54.4M-28.6M-6.6M0.8719.622,2751,982406,691530,279
2025-02-20$107.88$107.006.7%1.9%6.4%10.2%6.8%0.4%0.2%110.0M-206.0M-6.3M0.3920.4447,97418,591408,580531,847
2025-02-21$108.34$107.007.0%2.0%6.5%16.8%6.9%0.4%-0.3%153.3M-625.7M-6.7M0.7321.3514,61010,687437,652546,980
2025-02-24$108.56$107.006.7%2.0%6.5%11.2%7.0%0.8%0.1%117.8M-534.4M-6.4M0.7013.9316,23311,423271,372472,657
2025-02-25$109.37$108.006.4%1.9%6.5%4.7%6.8%0.8%0.1%170.5M-1.01B-5.8M0.0625.3520,8801,333271,259483,702
2025-02-26$109.60$108.006.8%1.9%6.5%12.9%6.9%1.0%0.1%217.6M-1.22B-6.2M3.1913.0815,59949,772292,087489,767
2025-02-27$109.13$108.007.0%2.1%6.7%16.8%7.4%0.7%0.2%159.4M-974.5M-7.1M0.2511.377,7711,947307,115507,295
2025-02-28$109.44$108.007.1%2.1%6.8%17.9%7.2%0.7%0.2%191.3M-1.12B-6.5M0.1812.6211,0811,994300,531508,090