L Options History — April 2026

In April 2026, L traded between $106.69 and $111.65. ATM implied volatility averaged 133.1%, placing in the 35.3% IV rank vs the trailing year. The 30-day expected move averaged 38.2%. IV traded above realized volatility by 112.6% (HV 20d: 20.5%). Max pain ranged from $90.00 to $110.00. Net GEX was positive for 12 of 12 trading days. Term structure was in contango for 2 of 12 days. Put/call ratio averaged 0.08.

Notable Days

2026-04-09: Highest Volume — 2,566 contracts
2026-04-21: Largest IV spike — 1975.4% change
2026-04-01: Highest IV Rank — 100.0%
2026-04-21: Largest Expected Move — 120.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$109.77	$106.69	$111.65	$106.69	$111.65
Max Pain	$95.00	$90.00	$110.00	$110.00	$110.00
ATM IV	133.1%	18.8%	421.3%	338.3%	421.3%
Expected Move	38.2%	5.4%	120.8%	97.0%	120.8%
HV 20d	20.5%	19.0%	21.4%	19.6%	21.3%
HV 60d	16.6%	16.2%	16.9%	16.3%	16.5%
IV Rank	35.3%	2.5%	100.0%	100.0%	100.0%
IV Percentile	79.6%	41.3%	100.0%	100.0%	100.0%
Term Structure	-34.5%	-399.7%	1.6%	-2.4%	-399.7%
VWIV	23.3%	21.4%	26.9%	22.6%	21.8%
Skew 25d	6.3%	3.0%	9.3%	7.9%	5.2%
Skew 10d	7.8%	1.9%	12.2%	12.0%	11.3%
Call IV 25d	19.4%	16.3%	25.7%	19.9%	19.6%
Put IV 25d	25.7%	19.8%	29.3%	27.8%	24.8%
Bid-Ask Spread %	29.20	22.65	36.15	22.65	24.78
Gamma HHI	0.71	0.35	0.94	0.78	0.35
Net GEX	998.9K	102.5K	2.5M	437.5K	102.5K
Net DEX	-5.0M	-10.2M	-2.0M	-2.8M	-2.0M
Net VEX	-13.0K	-16.5K	-9.8K	-13.9K	-9.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.08	0.00	0.34	0.00	0.34
Total Volume	387.667	0	2,566	0	1
Total OI	1,700.917	620	2,747	1,103	620

Daily Data (12 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
2026-04-01	$106.69	$110.00	338.3%	97.0%	19.6%	100.0%	0.0%	7.9%	-2.4%	437.5K	-2.8M	-13.9K	0.00	22.65	0	0	870	233
2026-04-02	$107.75	$90.00	331.0%	94.9%	19.0%	97.8%	0.0%	8.3%	-0.1%	476.9K	-2.8M	-13.9K	0.00	27.21	0	0	870	233
2026-04-06	$107.69	$90.00	326.2%	93.5%	19.0%	96.3%	0.0%	3.0%	-0.3%	506.7K	-2.6M	-13.2K	0.00	31.84	3	0	870	233
2026-04-08	$109.78	$90.00	18.8%	5.4%	20.4%	2.5%	0.0%	3.2%	1.6%	731.9K	-4.6M	-13.6K	0.03	35.59	1,331	40	884	235
2026-04-09	$111.30	$90.00	22.3%	6.4%	20.5%	3.6%	22.6%	9.3%	-2.5%	1.0M	-7.8M	-14.6K	0.00	24.56	2,560	6	1,212	227
2026-04-10	$109.63	$90.00	22.7%	6.5%	21.1%	3.7%	0.0%	8.5%	-3.4%	1.7M	-6.4M	-16.5K	0.02	30.73	213	5	2,518	229
2026-04-13	$109.79	$90.00	21.2%	6.1%	21.0%	3.2%	0.0%	6.6%	-0.1%	1.8M	-5.9M	-13.9K	0.15	30.32	13	2	2,435	225
2026-04-14	$110.44	$90.00	24.7%	7.1%	21.1%	4.3%	21.4%	3.6%	-1.7%	2.0M	-6.7M	-13.6K	0.01	36.15	161	2	2,431	227
2026-04-15	$110.13	$90.00	26.5%	7.6%	21.1%	4.8%	26.9%	8.6%	-2.5%	2.5M	-6.4M	-12.5K	0.04	26.51	143	5	2,363	226
2026-04-17	$111.43	$90.00	24.1%	6.9%	21.4%	4.1%	23.5%	6.8%	-3.7%	699.4K	-10.2M	-10.4K	0.15	31.48	104	16	2,377	273
2026-04-20	$110.93	$110.00	20.3%	5.8%	21.3%	3.0%	21.8%	4.8%	0.6%	105.2K	-2.2M	-9.8K	0.34	28.62	35	12	402	218
2026-04-21	$111.65	$110.00	421.3%	120.8%	21.3%	100.0%	0.0%	5.2%	-399.7%	102.5K	-2.0M	-9.9K	0.00	24.78	0	1	403	217