What is the current LEVI expected move?

As of Sep 30, 2026, Levi Strauss & Co. (LEVI) has an expected move of 17.09% over the next 16 days, implying a one-standard-deviation price range of $16.31 to $23.03 from the current $19.67. The expected move is derived from at-the-money straddle pricing and represents the market consensus for a ±1σ price move.

What does the LEVI expected move mean for traders?

Roughly 68% of outcomes should fall within ±1 expected move and 95% within ±2 under lognormal assumptions, though equity returns have empirically fatter tails than log-normal predicts. Strategies sized to the expected move (iron condors at ±1σ, strangles at ±1.5σ) target the typical outcome distribution; strategies that profit from tail moves (long-vol structures, ratio backspreads) target the tails the lognormal model under-prices.

How is LEVI expected move calculated?

The expected move displayed here is derived from at-the-money implied volatility scaled to the chosen tenor: expected move % is approximately ATM IV times sqrt(T / 365), where T is days to expiration. An equivalent straddle-based form: the ATM straddle (call + put at the same strike) is roughly sqrt(2/pi) times spot times IV times sqrt(T/365), so the implied one-standard-deviation move is approximately 1.25 times ATM straddle divided by spot. The two formulations agree once the sqrt(2/pi) constant is reconciled.

Levi Strauss & Co. (LEVI) Expected Move

Expected move estimates the probable price range for a given period based on at-the-money options pricing. It reflects the market consensus for volatility over the selected timeframe.

Levi Strauss & Co. (LEVI) operates in the Consumer Cyclical sector, specifically the Apparel - Manufacturers industry, with a market capitalization near $7.71B, listed on NYSE, employing roughly 19,000 people, carrying a beta of 1.31 to the broader market. Levi Strauss & Co. Led by Michelle D. Gass, public since 2019-03-21.

Snapshot as of Sep 30, 2026.

Spot Price: $19.67
Expected Move: 17.1%
Implied High: $23.03
Implied Low: $16.31
Front DTE: 16 days

As of Sep 30, 2026, Levi Strauss & Co. (LEVI) has an expected move of 17.09%, a one-standard-deviation implied price range of roughly $16.31 to $23.03 from the current $19.67. Expected move is derived from at-the-money straddle pricing and represents the market's pricing of a ±1σ move. Roughly 68% of outcomes should fall within this range under lognormal assumptions, though empirical markets have fatter tails.

LEVI Strategy Sizing to the Expected Move

With Levi Strauss & Co. pricing an expected move of 17.09% from $19.67, risk-defined strategies sized to the implied range structurally target the modal outcome distribution. Iron condors with wings at the ±1σ expected move boundaries collect premium against the ~68% probability that spot stays inside the range under lognormal assumptions; strangles set wider at ±1.5σ or ±2σ target the tails but pay smaller per-trade premium. Long-vol structures (long straddles, ratio backspreads) profit when realized move exceeds the implied move, the inverse trade: they bet against the lognormal assumption itself, capitalizing on the empirically fatter equity-return tails.

How to read the LEVI implied-range chart

The shaded range above shows the one-standard-deviation implied price band at each listed expiration, derived from ATM implied volatility scaled to days-to-expiration. The front-tenor expected move is 17.09%, anchoring an implied range of approximately $16.31 to $23.03. Under lognormal assumptions, roughly 68% of outcomes fall inside that band; 95% fall inside ±2σ; 99.7% inside ±3σ. The empirical equity-return distribution has fatter tails than lognormal, so true tail-outcome frequency is moderately higher than these closed-form numbers suggest.

LEVI expected move and event pricing

Expected move widens with √time: a 5% 30-day move corresponds to roughly a 2.5% 7.5-day move and a 10% 120-day move. LEVI term-structure is in backwardation (slope -0.166), so near-dated tenors price in disproportionate vol - usually because of a known event in the front-month window.

Sizing LEVI structures to the expected move

Iron condors with wings at ±1σ collect the modal-outcome premium; ±1.5σ widens probability of inside-range to ~87% but cuts collected premium roughly in half. Strangles do the inverse trade - they pay against the same lognormal distribution, profiting when realized exceeds implied. Calendar spreads bet on the slope of the term structure rather than the level. LEVI put/call volume ratio currently at 1.01 indicates balanced flow without strong directional skew. The expected move is the inputs the chain is pricing, not a forecast - realized moves above or below are normal under any distribution.

Learn how expected move is reported and how to read the data →

Shaded band shows the ±1σ implied price range (~68% probability under lognormal assumptions) at each expiration; the center line marks current spot. Bands widen with longer DTE since volatility scales with √time.

Per-expiration expected move for LEVI derived from ATM implied volatility at each listed expiration. Implied high/low bounds are computed as $19.67 × (1 ± expected move %). One standard-deviation range under lognormal assumptions, roughly 68% of outcomes fall inside.

Expiration	DTE	ATM IV	Expected Move	Implied High	Implied Low
Oct 16, 2026	16	59.6%	12.5%	$22.12	$17.22
Nov 20, 2026	51	43.0%	16.1%	$22.83	$16.51
Jan 15, 2027	107	38.6%	20.9%	$23.78	$15.56
Apr 16, 2027	198	40.4%	29.8%	$25.52	$13.82
Jan 21, 2028	478	41.7%	47.7%	$29.06	$10.28
Jan 19, 2029	842	41.7%	63.3%	$32.13	$7.21

Frequently asked LEVI expected move questions

What is the current LEVI expected move?: As of Sep 30, 2026, Levi Strauss & Co. (LEVI) has an expected move of 17.09% over the next 16 days, implying a one-standard-deviation price range of $16.31 to $23.03 from the current $19.67. The expected move is derived from at-the-money straddle pricing and represents the market consensus for a ±1σ price move.
What does the LEVI expected move mean for traders?: Roughly 68% of outcomes should fall within ±1 expected move and 95% within ±2 under lognormal assumptions, though equity returns have empirically fatter tails than log-normal predicts. Strategies sized to the expected move (iron condors at ±1σ, strangles at ±1.5σ) target the typical outcome distribution; strategies that profit from tail moves (long-vol structures, ratio backspreads) target the tails the lognormal model under-prices.
How is LEVI expected move calculated?: The expected move displayed here is derived from at-the-money implied volatility scaled to the chosen tenor: expected move % is approximately ATM IV times sqrt(T / 365), where T is days to expiration. An equivalent straddle-based form: the ATM straddle (call + put at the same strike) is roughly sqrt(2/pi) times spot times IV times sqrt(T/365), so the implied one-standard-deviation move is approximately 1.25 times ATM straddle divided by spot. The two formulations agree once the sqrt(2/pi) constant is reconciled.