L Options History — March 2026

In March 2026, L traded between $103.72 and $112.09. ATM implied volatility averaged 69.8%, placing in the 38.4% IV rank vs the trailing year. The 30-day expected move averaged 21.6%. IV traded above realized volatility by 54.8% (HV 20d: 15.0%). Max pain ranged from $100.00 to $115.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 0.65.

Notable Days

2026-03-27: Highest Volume — 510 contracts
2026-03-18: Largest IV spike — 1406.3% change
2026-03-18: Highest IV Rank — 100.0%
2026-03-31: Largest Expected Move — 91.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$108.35	$103.72	$112.09	$112.09	$106.81
Max Pain	$108.68	$100.00	$115.00	$100.00	$110.00
ATM IV	69.8%	15.1%	381.1%	23.4%	318.5%
Expected Move	21.6%	5.9%	91.3%	6.7%	91.3%
HV 20d	15.0%	12.2%	20.0%	15.9%	20.0%
HV 60d	14.7%	13.5%	16.3%	15.3%	16.3%
IV Rank	38.4%	9.0%	100.0%	25.8%	100.0%
IV Percentile	81.4%	12.3%	100.0%	83.7%	100.0%
Term Structure	-0.1%	-7.3%	5.7%	-7.3%	1.2%
VWIV	22.9%	20.9%	26.5%	21.6%	24.2%
Skew 25d	4.1%	-4.2%	8.8%	4.1%	4.1%
Skew 10d	5.4%	-8.5%	22.1%	3.5%	5.7%
Call IV 25d	20.6%	18.5%	23.4%	18.6%	22.1%
Put IV 25d	24.7%	19.2%	30.9%	22.7%	26.2%
Bid-Ask Spread %	59.15	21.59	108.55	102.25	24.74
Gamma HHI	0.73	0.26	0.92	0.92	0.76
Net GEX	488.6K	40.8K	811.5K	527.0K	402.2K
Net DEX	-5.0M	-8.4M	-763.4K	-8.4M	-2.6M
Net VEX	-13.1K	-14.8K	-10.2K	-13.7K	-14.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.65	0.00	4.00	0.10	0.67
Total Volume	47.632	0	510	23	5
Total OI	1,294.368	575	1,523	1,413	1,102

Daily Data (19 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
2026-03-02	$112.09	$100.00	23.4%	6.7%	15.9%	25.8%	21.6%	4.1%	-7.3%	527.0K	-8.4M	-13.7K	0.10	102.25	21	2	1,084	329
2026-03-03	$111.84	$100.00	25.1%	7.2%	16.0%	29.1%	20.9%	3.0%	-3.1%	532.5K	-8.0M	-14.0K	0.00	100.28	20	0	1,093	331
2026-03-04	$111.65	$100.00	23.2%	6.6%	15.7%	25.4%	21.5%	0.3%	-1.5%	621.6K	-8.0M	-13.6K	0.71	103.64	7	5	1,102	331
2026-03-05	$110.23	$115.00	26.9%	6.5%	14.6%	32.9%	20.9%	6.6%	-1.3%	548.3K	-6.9M	-14.6K	0.78	100.41	32	25	1,103	332
2026-03-06	$109.43	$110.00	22.8%	6.6%	14.0%	24.6%	0.0%	3.3%	-0.2%	575.2K	-6.1M	-14.8K	1.43	102.06	7	10	1,111	354
2026-03-09	$108.97	$110.00	32.1%	7.5%	13.8%	43.3%	25.7%	8.8%	-2.3%	516.9K	-5.9M	-14.5K	0.00	106.02	0	5	1,114	354
2026-03-10	$109.24	$110.00	27.7%	6.1%	13.7%	34.5%	0.0%	6.6%	2.0%	605.3K	-6.2M	-13.8K	0.00	98.66	0	0	1,114	354
2026-03-11	$108.75	$110.00	20.5%	5.9%	13.6%	20.0%	0.0%	6.0%	0.3%	674.8K	-6.4M	-14.0K	0.33	108.55	9	3	1,134	354
2026-03-12	$108.93	$110.00	21.4%	77.0%	13.7%	21.7%	0.0%	5.0%	2.8%	593.1K	-6.1M	-13.6K	0.00	28.65	13	0	1,132	357
2026-03-13	$108.04	$110.00	22.9%	68.1%	13.9%	24.7%	0.0%	6.2%	0.8%	714.3K	-5.8M	-13.4K	1.02	28.83	58	59	1,133	357
2026-03-16	$108.74	$110.00	21.5%	6.5%	13.3%	22.0%	22.7%	0.6%	1.1%	811.5K	-6.1M	-13.8K	0.00	23.53	31	0	1,142	381
2026-03-17	$108.84	$110.00	25.3%	7.5%	12.2%	29.6%	0.0%	2.7%	-4.9%	758.5K	-6.2M	-13.1K	0.00	35.33	1	0	1,136	381
2026-03-18	$106.13	$110.00	381.1%	6.6%	14.1%	100.0%	22.3%	2.5%	1.6%	468.1K	-3.5M	-11.5K	0.50	29.91	4	2	1,137	381
2026-03-19	$105.63	$110.00	23.4%	6.4%	14.1%	25.8%	26.5%	4.2%	1.5%	414.4K	-3.3M	-11.1K	4.00	29.55	4	16	1,138	373
2026-03-23	$106.73	$110.00	15.1%	8.2%	14.1%	9.0%	0.0%	3.3%	-1.9%	44.0K	-1.0M	-10.2K	0.00	27.96	22	0	343	232
2026-03-24	$107.14	$110.00	24.6%	7.4%	14.2%	28.2%	22.9%	7.3%	0.1%	40.8K	-1.1M	-10.5K	0.47	26.14	19	9	344	232
2026-03-27	$103.72	$110.00	26.6%	7.6%	18.0%	32.2%	22.7%	7.7%	4.1%	45.4K	-763.4K	-11.0K	0.01	25.72	506	4	366	230
2026-03-30	$105.75	$110.00	243.8%	69.9%	19.5%	100.0%	22.1%	-4.2%	5.7%	388.8K	-1.9M	-13.5K	1.00	21.59	3	3	869	233
2026-03-31	$106.81	$110.00	318.5%	91.3%	20.0%	100.0%	24.2%	4.1%	1.2%	402.2K	-2.6M	-14.3K	0.67	24.74	3	2	869	233