LQD Options History — September 2025

In September 2025, LQD traded between $109.03 and $112.31. ATM implied volatility averaged 7.1%, placing in the 11.3% IV rank vs the trailing year. The 30-day expected move averaged 2.0%. IV traded above realized volatility by 0.9% (HV 20d: 6.2%). Max pain ranged from $109.00 to $111.00. Net GEX was positive for 10 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 5.95.

Notable Days

  • 2025-09-30: Highest Volume — 129,491 contracts
  • 2025-09-17: Largest IV drop — 10.1% change
  • 2025-09-02: Highest IV Rank — 16.4%
  • 2025-09-16: Largest Expected Move — 2.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$111.38$109.03$112.31$109.03$111.50
Max Pain$110.29$109.00$111.00$109.00$111.00
ATM IV7.1%6.8%7.6%7.6%7.0%
Expected Move2.0%1.9%2.2%2.0%2.0%
HV 20d6.2%5.2%6.6%5.2%5.3%
HV 60d5.5%5.3%5.7%5.4%5.3%
IV Rank11.3%7.9%16.4%16.4%9.9%
IV Percentile19.7%9.5%39.7%38.1%15.1%
Term Structure-0.0%-0.4%0.2%-0.2%0.2%
VWIV7.5%6.6%10.5%10.5%6.8%
Skew 25d1.3%0.7%1.8%1.3%1.3%
Skew 10d2.8%1.6%3.9%3.0%2.4%
Call IV 25d6.7%6.4%7.2%7.2%6.6%
Put IV 25d8.0%7.3%8.6%8.5%7.9%
Bid-Ask Spread %6.294.208.335.286.33
Gamma HHI0.120.090.260.130.10
Net GEX1.8M-149.4M277.8M-149.4M-111.2M
Net DEX-360.6M-1.03B461.1M461.1M68.9M
Net VEX-6.2M-8.2M-4.4M-5.7M-7.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio5.950.0250.3650.360.02
Total Volume51,301.23818,745129,49169,338129,491
Total OI1,020,532.905870,5441,260,318918,1221,032,132

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-09-02$109.03$109.007.6%2.0%5.2%16.4%10.5%1.3%-0.2%-149.4M461.1M-5.7M50.365.281,35067,988223,162694,960
2025-09-03$109.72$109.007.4%1.9%5.7%14.0%6.8%1.1%-0.3%-48.4M84.8M-5.7M0.938.0610,4889,707223,684723,880
2025-09-04$110.41$110.007.1%2.0%6.1%11.2%7.1%0.9%-0.3%113.1M-398.6M-5.3M1.346.8721,54928,884233,562736,493
2025-09-05$111.13$110.007.0%2.0%6.5%10.5%7.2%0.7%-0.3%277.8M-989.7M-4.4M3.308.3321,64171,507238,453751,321
2025-09-08$111.59$110.006.9%1.9%6.4%9.6%6.6%0.9%-0.1%105.6M-824.6M-4.5M1.926.838,24315,821220,889770,426
2025-09-09$111.35$110.007.3%2.1%6.5%13.2%8.4%1.2%0.2%58.8M-611.2M-5.1M2.595.647,14318,514221,945780,868
2025-09-10$111.72$110.007.2%2.0%6.6%12.9%7.6%1.2%-0.2%94.2M-810.6M-5.1M1.315.9816,10321,122227,006798,372
2025-09-11$112.20$110.007.1%2.0%6.5%11.2%7.9%1.1%-0.0%112.9M-1.03B-5.2M6.356.764,84930,798235,619816,205
2025-09-12$111.97$110.006.9%2.0%6.4%9.4%7.1%1.2%0.0%67.3M-911.9M-5.2M8.475.454,11234,849236,657829,100
2025-09-15$112.31$110.007.2%2.1%6.4%12.4%7.6%1.3%-0.3%72.3M-900.2M-5.2M1.797.7824,40743,599227,607842,886
2025-09-16$112.31$110.007.5%2.2%6.3%16.0%7.8%1.5%-0.4%66.5M-909.4M-5.6M2.675.3120,52554,699245,864868,275
2025-09-17$112.02$110.006.8%1.9%6.4%7.9%7.6%1.7%-0.1%-30.9M-729.5M-6.2M1.587.0727,48743,486264,138919,101
2025-09-18$111.77$110.006.9%2.0%6.5%8.7%7.3%1.8%0.1%-136.8M-435.3M-7.0M0.846.8821,71118,262286,605954,904
2025-09-19$111.75$111.006.9%1.9%6.3%8.7%6.9%1.4%0.2%-111.6M-392.8M-7.0M0.485.0620,8429,995295,756964,562
2025-09-22$111.52$111.006.9%2.0%5.9%9.0%7.0%1.3%0.1%-57.5M8.9M-7.0M2.247.839,09420,395216,831653,713
2025-09-23$111.68$111.007.0%2.0%5.8%9.8%7.3%1.5%0.2%-39.8M-96.9M-7.1M4.904.993,17715,568224,734666,168
2025-09-24$111.28$111.006.9%2.0%6.0%8.7%7.1%1.3%0.2%-124.4M219.1M-7.4M0.604.8430,30718,170225,381673,648
2025-09-25$111.03$111.007.4%2.1%6.1%14.0%7.6%1.4%0.2%-101.5M405.6M-8.1M0.544.2026,16514,001254,259687,020
2025-09-26$111.13$111.007.3%2.1%6.1%13.6%7.8%1.4%0.1%61.3M199.0M-8.2M23.234.713,70185,983270,884692,941
2025-09-29$111.56$111.007.0%2.0%6.1%10.8%7.5%1.5%0.1%-81.3M18.9M-7.9M9.497.863,96437,629251,102750,078
2025-09-30$111.50$111.007.0%2.0%5.3%9.9%6.8%1.3%0.2%-111.2M68.9M-7.7M0.026.33127,3672,124253,662778,470