L Options History — December 2024

In December 2024, L traded between $81.69 and $86.25. ATM implied volatility averaged 16.6%, placing in the 36.0% IV rank vs the trailing year. The 30-day expected move averaged 4.7%. IV traded above realized volatility by 2.4% (HV 20d: 14.2%). Max pain ranged from $75.00 to $85.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 2.25.

Notable Days

2024-12-20: Highest Volume — 122 contracts
2024-12-27: Largest IV spike — 40.4% change
2024-12-27: Highest IV Rank — 51.8%
2024-12-27: Largest Expected Move — 5.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$84.47	$81.69	$86.25	$86.20	$84.56
Max Pain	$83.10	$75.00	$85.00	$75.00	$85.00
ATM IV	16.6%	12.1%	20.3%	16.9%	15.4%
Expected Move	4.7%	3.5%	5.8%	4.8%	4.4%
HV 20d	14.2%	8.8%	26.6%	26.6%	15.3%
HV 60d	20.6%	19.8%	21.3%	20.9%	21.0%
IV Rank	36.0%	17.0%	51.8%	37.2%	30.9%
IV Percentile	52.1%	3.2%	81.3%	61.5%	31.3%
Term Structure	0.7%	-2.8%	5.1%	-0.5%	-0.3%
VWIV	17.1%	11.9%	32.1%	16.9%	15.4%
Skew 25d	2.2%	-2.5%	6.3%	2.1%	6.3%
Skew 10d	3.9%	-1.9%	10.3%	2.8%	10.3%
Call IV 25d	14.5%	11.2%	19.0%	14.7%	11.7%
Put IV 25d	16.7%	12.9%	20.6%	16.8%	18.0%
Bid-Ask Spread %	96.35	75.77	106.89	91.69	90.51
Gamma HHI	0.28	0.20	0.35	0.33	0.29
Net GEX	73.9K	13.6K	164.4K	157.2K	56.4K
Net DEX	-1.7M	-2.8M	-537.0K	-2.8M	-1.6M
Net VEX	-9.2K	-10.2K	-8.4K	-10.1K	-8.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.25	0.00	15.00	3.50	1.67
Total Volume	23.095	3	122	9	8
Total OI	1,349.857	781	1,598	1,488	842

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2024-12-02	$86.20	$75.00	16.9%	4.8%	26.6%	37.2%	16.9%	2.1%	-0.5%	157.2K	-2.8M	-10.1K	3.50	91.69	2	7	681	807
2024-12-03	$86.06	$75.00	15.9%	4.6%	21.6%	33.1%	15.9%	4.8%	-0.5%	164.4K	-2.8M	-9.4K	5.00	92.30	6	30	682	814
2024-12-04	$85.64	$80.00	16.0%	4.6%	21.3%	33.6%	16.0%	2.1%	-0.7%	135.8K	-2.5M	-9.8K	1.00	75.77	7	7	682	844
2024-12-05	$86.25	$85.00	16.6%	4.6%	8.8%	36.0%	15.9%	1.0%	1.0%	134.9K	-2.7M	-9.3K	1.13	98.21	24	27	683	850
2024-12-06	$85.98	$85.00	15.8%	4.6%	9.0%	32.8%	16.0%	3.9%	0.5%	117.6K	-2.6M	-9.6K	15.00	97.48	1	15	689	866
2024-12-09	$85.16	$85.00	17.6%	4.0%	9.6%	40.2%	0.0%	0.7%	-0.1%	94.9K	-2.3M	-8.9K	0.80	106.89	5	4	688	882
2024-12-10	$84.14	$85.00	17.6%	5.2%	10.6%	40.4%	0.0%	1.3%	-0.9%	67.9K	-1.6M	-9.7K	2.40	103.89	5	12	688	885
2024-12-11	$84.86	$85.00	16.8%	4.8%	11.0%	36.7%	16.8%	6.1%	1.6%	76.0K	-1.9M	-9.9K	0.18	97.62	11	2	686	899
2024-12-12	$84.00	$85.00	16.2%	4.6%	11.7%	34.2%	0.0%	-0.6%	-0.8%	74.8K	-1.7M	-9.0K	1.00	104.69	2	2	691	900
2024-12-13	$84.44	$85.00	16.2%	4.6%	11.7%	34.4%	16.2%	-2.5%	3.0%	82.0K	-1.5M	-10.2K	1.00	102.16	12	12	692	901
2024-12-16	$84.06	$85.00	16.2%	4.6%	11.5%	34.2%	0.0%	-0.3%	2.1%	71.1K	-1.4M	-8.9K	2.00	103.81	1	2	691	903
2024-12-17	$83.53	$85.00	17.2%	4.9%	11.2%	38.3%	15.5%	4.8%	1.0%	51.5K	-1.1M	-8.9K	0.14	97.79	7	1	692	904
2024-12-18	$81.69	$85.00	19.4%	5.6%	13.6%	47.9%	18.2%	1.5%	0.1%	13.9K	-537.0K	-8.5K	10.50	99.87	2	21	693	905
2024-12-19	$82.11	$85.00	20.1%	5.7%	13.6%	50.6%	20.2%	3.0%	-1.7%	40.3K	-884.1K	-8.6K	0.52	90.07	29	15	691	873
2024-12-20	$83.55	$80.00	16.0%	4.6%	14.8%	33.3%	16.6%	-0.9%	-0.2%	13.6K	-1.1M	-8.9K	0.04	99.90	117	5	707	886
2024-12-23	$83.13	$85.00	12.1%	3.5%	14.1%	17.0%	14.4%	2.3%	5.1%	23.5K	-950.4K	-9.5K	0.00	99.52	18	0	418	363
2024-12-24	$84.34	$80.00	16.7%	4.8%	15.2%	36.4%	16.8%	1.3%	2.9%	32.4K	-1.2M	-9.0K	0.67	98.48	9	6	431	363
2024-12-26	$85.09	$80.00	14.5%	4.2%	15.6%	27.0%	15.4%	4.5%	3.0%	43.8K	-1.5M	-8.4K	0.25	91.41	28	7	435	368
2024-12-27	$84.42	$85.00	20.3%	5.8%	15.6%	51.8%	32.1%	2.6%	-2.8%	49.3K	-1.4M	-9.2K	0.14	94.16	7	1	463	372
2024-12-30	$84.61	$85.00	15.1%	4.3%	15.6%	29.8%	11.9%	1.1%	2.5%	49.9K	-1.4M	-9.3K	0.33	87.10	6	2	465	372
2024-12-31	$84.56	$85.00	15.4%	4.4%	15.3%	30.9%	15.4%	6.3%	-0.3%	56.4K	-1.6M	-8.5K	1.67	90.51	3	5	470	372