LQD Options History — May 2025

In May 2025, LQD traded between $105.72 and $107.69. ATM implied volatility averaged 8.4%, placing in the 23.1% IV rank vs the trailing year. The 30-day expected move averaged 2.4%. IV traded below realized volatility by 0.2% (HV 20d: 8.6%). Max pain ranged from $107.00 to $108.00. Net GEX was positive for 3 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 3.84.

Notable Days

  • 2025-05-15: Highest Volume — 165,270 contracts
  • 2025-05-21: Largest IV spike — 21.5% change
  • 2025-05-01: Highest IV Rank — 40.9%
  • 2025-05-01: Largest Expected Move — 3.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$106.82$105.72$107.69$107.20$107.69
Max Pain$107.14$107.00$108.00$108.00$107.00
ATM IV8.4%7.1%10.0%10.0%7.9%
Expected Move2.4%2.0%3.1%3.1%2.2%
HV 20d8.6%6.6%13.3%13.3%6.8%
HV 60d8.9%8.7%9.1%9.1%9.0%
IV Rank23.1%10.0%40.9%40.9%16.9%
IV Percentile64.9%13.1%90.9%90.9%57.1%
Term Structure0.1%-0.3%0.5%0.3%0.5%
VWIV8.7%7.1%10.9%10.9%8.4%
Skew 25d1.5%0.6%2.5%1.7%1.1%
Skew 10d3.3%1.7%5.1%4.3%1.9%
Call IV 25d7.8%6.8%9.3%9.3%7.2%
Put IV 25d9.3%7.3%11.0%11.0%8.3%
Bid-Ask Spread %7.545.6513.566.028.24
Gamma HHI0.160.100.350.130.11
Net GEX-316.8M-908.2M68.0M-351.4M-1.8M
Net DEX821.8M-118.4M1.58B1.02B-118.4M
Net VEX-6.3M-7.8M-5.5M-7.8M-5.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.840.3814.421.474.33
Total Volume40,396.2869,910165,27012,13223,858
Total OI869,606.952639,4771,050,192962,927774,754

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-05-01$107.20$108.0010.0%3.1%13.3%40.9%10.9%1.7%0.3%-351.4M1.02B-7.8M1.476.024,9117,221183,891779,036
2025-05-02$106.91$108.009.0%2.6%13.3%30.6%9.5%1.6%0.5%-403.2M1.12B-7.3M0.995.779,9429,888184,695784,878
2025-05-05$106.78$108.009.4%2.6%13.3%34.3%8.5%2.0%-0.2%-436.7M1.21B-7.0M0.466.569,3994,355192,180789,894
2025-05-06$106.91$107.009.0%2.6%11.3%30.3%9.7%2.1%-0.1%-430.9M1.17B-7.1M8.196.473,35527,479195,816789,467
2025-05-07$107.18$107.009.0%2.5%10.0%30.7%9.9%1.8%-0.2%-366.8M1.03B-6.9M2.996.006,54319,592198,636793,542
2025-05-08$106.78$107.008.8%2.5%9.2%27.9%9.1%1.9%-0.1%-473.0M1.34B-7.0M1.026.2818,47318,868199,654794,944
2025-05-09$106.62$107.008.3%2.3%7.8%22.7%8.3%1.7%-0.0%-603.8M1.29B-6.4M0.386.2332,33412,433195,145802,140
2025-05-12$106.59$107.008.3%2.3%7.8%23.4%9.2%1.3%-0.3%-589.6M1.27B-6.0M2.435.657,71318,752207,343796,561
2025-05-13$106.62$107.008.1%2.2%7.5%20.2%8.4%1.3%-0.3%-657.2M1.22B-5.9M12.277.632,71733,326205,775802,092
2025-05-14$106.13$107.008.1%2.2%7.5%20.2%8.0%1.1%-0.2%-908.2M1.58B-5.8M1.907.5616,71031,720207,071799,156
2025-05-15$106.82$107.007.5%2.1%7.8%14.0%7.6%0.7%-0.0%-549.3M852.3M-5.5M3.477.8336,943128,327214,871812,808
2025-05-16$107.12$107.007.1%2.0%7.8%10.0%7.1%0.6%-0.0%-146.7M335.8M-5.5M1.747.6411,28219,581245,076805,116
2025-05-19$107.09$107.007.6%2.2%6.7%15.2%8.2%1.0%0.1%-121.7M415.9M-5.8M10.877.662,36425,707188,559450,918
2025-05-20$106.87$107.007.6%2.2%6.7%15.0%8.5%1.6%0.1%-162.6M609.1M-6.0M14.428.713,17845,826190,546459,383
2025-05-21$105.72$107.009.2%2.6%7.6%32.4%9.2%2.5%-0.0%-238.8M1.21B-6.4M3.859.947,43528,648193,436475,416
2025-05-22$106.16$107.008.7%2.5%6.9%27.0%8.5%1.8%-0.1%-218.5M922.7M-6.4M0.717.0232,25422,762205,527483,264
2025-05-23$106.30$107.008.3%2.4%6.6%22.5%8.7%1.4%0.0%-105.9M637.1M-6.4M0.6713.565,9293,981236,006474,874
2025-05-27$107.22$107.008.1%2.3%7.3%20.8%8.3%1.0%0.4%11.9M32.7M-5.8M0.428.5125,64910,748231,559473,319
2025-05-28$106.97$107.007.7%2.2%7.3%14.5%7.7%1.3%0.5%68.0M171.2M-5.5M1.317.5110,00713,133244,432475,357
2025-05-29$107.47$107.007.9%2.2%7.5%16.2%8.2%1.2%0.5%33.5M-50.2M-5.5M6.687.5212,36282,617236,917487,692
2025-05-30$107.69$107.007.9%2.2%6.8%16.9%8.4%1.1%0.5%-1.8M-118.4M-5.9M4.338.244,47619,382247,030527,724