LII Options History — January 2025

In January 2025, LII traded between $593.26 and $665.66. ATM implied volatility averaged 29.5%, placing in the 20.5% IV rank vs the trailing year. The 30-day expected move averaged 8.5%. IV traded above realized volatility by 4.6% (HV 20d: 24.9%). Max pain ranged from $560.00 to $670.00. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 4 of 20 days. Put/call ratio averaged 1.34.

Notable Days

2025-01-16: Highest Volume — 362 contracts
2025-01-15: Largest IV drop — 20.5% change
2025-01-14: Highest IV Rank — 43.0%
2025-01-27: Largest Expected Move — 9.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$630.93	$593.26	$665.66	$604.01	$593.26
Max Pain	$619.00	$560.00	$670.00	$610.00	$660.00
ATM IV	29.5%	24.0%	36.6%	28.3%	27.5%
Expected Move	8.5%	6.9%	9.4%	8.1%	7.9%
HV 20d	24.9%	19.7%	36.3%	25.3%	36.3%
HV 60d	27.4%	26.1%	31.7%	27.3%	31.7%
IV Rank	20.5%	3.3%	43.0%	16.8%	14.4%
IV Percentile	52.8%	2.8%	97.6%	40.1%	35.7%
Term Structure	-0.9%	-4.4%	4.8%	2.0%	1.2%
VWIV	29.5%	25.9%	32.8%	26.5%	25.9%
Skew 25d	2.4%	-3.0%	6.7%	6.7%	0.6%
Skew 10d	4.5%	-2.2%	10.7%	4.9%	1.3%
Call IV 25d	28.4%	23.1%	33.0%	23.1%	27.9%
Put IV 25d	30.8%	28.0%	34.3%	29.8%	28.5%
Bid-Ask Spread %	74.27	66.18	97.04	95.89	71.90
Gamma HHI	0.15	0.08	0.31	0.09	0.10
Net GEX	456.3K	-55.5K	1.2M	137.9K	-55.5K
Net DEX	-9.3M	-19.4M	4.7M	-5.3M	4.7M
Net VEX	-58.1K	-95.0K	-38.1K	-39.8K	-85.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.34	0.03	16.27	0.36	16.27
Total Volume	91.15	2	362	15	259
Total OI	807.1	521	1,391	521	1,391

Daily Data (20 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
2025-01-02	$604.01	$610.00	28.3%	8.1%	25.3%	16.8%	26.5%	6.7%	2.0%	137.9K	-5.3M	-39.8K	0.36	95.89	11	4	330	191
2025-01-03	$610.87	$610.00	27.1%	7.8%	25.9%	13.0%	0.0%	3.9%	1.8%	152.7K	-6.0M	-39.4K	0.00	97.04	0	2	330	192
2025-01-06	$608.03	$560.00	28.4%	8.7%	25.3%	17.3%	27.3%	5.4%	-1.8%	133.1K	-5.6M	-38.7K	0.30	68.50	30	9	330	194
2025-01-07	$610.57	$560.00	27.7%	8.8%	24.7%	15.0%	29.5%	2.4%	-1.3%	143.3K	-6.0M	-39.2K	1.14	69.19	7	8	342	201
2025-01-08	$623.05	$630.00	25.8%	8.6%	23.4%	9.0%	31.7%	2.9%	-1.0%	202.0K	-7.2M	-39.9K	0.15	68.62	20	3	345	204
2025-01-10	$611.66	$580.00	29.2%	8.8%	23.4%	19.6%	30.5%	2.6%	-1.6%	158.4K	-6.4M	-40.1K	0.33	71.21	6	2	357	205
2025-01-13	$617.92	$580.00	35.0%	9.1%	22.8%	38.0%	0.0%	4.3%	-1.7%	186.8K	-7.0M	-39.8K	0.38	73.80	8	3	359	204
2025-01-14	$626.23	$580.00	36.6%	8.6%	23.5%	43.0%	30.8%	3.5%	-0.5%	312.1K	-8.6M	-38.4K	1.22	69.94	9	11	366	204
2025-01-15	$632.36	$600.00	29.1%	8.3%	23.6%	19.4%	27.7%	3.7%	-1.2%	371.9K	-9.2M	-38.6K	0.70	77.15	10	7	372	211
2025-01-16	$644.67	$600.00	29.0%	8.3%	24.6%	19.2%	27.8%	4.3%	-3.1%	417.0K	-10.9M	-38.1K	0.16	71.35	313	49	373	210
2025-01-17	$646.63	$640.00	28.7%	8.2%	24.3%	18.2%	29.8%	1.1%	-2.5%	912.2K	-15.3M	-57.5K	0.60	73.30	5	3	660	256
2025-01-21	$663.20	$640.00	29.6%	8.5%	23.1%	21.1%	29.5%	1.0%	-2.6%	856.9K	-16.7M	-55.8K	0.05	73.59	78	4	583	219
2025-01-22	$664.36	$640.00	29.8%	8.6%	20.2%	21.7%	29.9%	3.3%	-2.1%	1.1M	-18.8M	-62.8K	0.42	78.83	106	44	658	224
2025-01-23	$665.66	$640.00	29.7%	8.5%	19.9%	21.2%	29.9%	-0.4%	-0.8%	1.2M	-19.4M	-77.7K	1.07	72.72	59	63	761	266
2025-01-24	$663.83	$640.00	30.3%	8.7%	19.7%	23.1%	30.1%	-1.3%	-2.1%	1.2M	-19.2M	-95.0K	0.03	72.37	217	7	815	324
2025-01-27	$658.52	$640.00	32.7%	9.4%	20.1%	30.7%	32.8%	2.4%	-4.4%	699.7K	-13.6M	-83.3K	1.00	67.39	3	3	640	328
2025-01-28	$661.98	$640.00	31.7%	9.1%	20.0%	27.6%	31.7%	3.3%	-1.2%	676.4K	-15.7M	-83.9K	0.19	72.15	86	16	642	334
2025-01-29	$608.53	$670.00	29.0%	8.3%	35.8%	19.0%	30.8%	-3.0%	-0.3%	190.4K	-499.0K	-79.2K	0.50	66.18	175	87	709	453
2025-01-30	$603.18	$660.00	24.0%	6.9%	35.9%	3.3%	28.3%	2.1%	4.8%	113.5K	1.4M	-88.6K	0.52	74.23	63	33	831	528
2025-01-31	$593.26	$660.00	27.5%	7.9%	36.3%	14.4%	25.9%	0.6%	1.2%	-55.5K	4.7M	-85.8K	16.27	71.90	15	244	838	553