LII Options History — February 2025

In February 2025, LII traded between $573.37 and $649.34. ATM implied volatility averaged 28.8%, placing in the 18.4% IV rank vs the trailing year. The 30-day expected move averaged 8.3%. IV traded below realized volatility by 8.3% (HV 20d: 37.1%). Max pain ranged from $580.00 to $650.00. Net GEX was positive for 6 of 19 trading days. Term structure was in contango for 5 of 19 days. Put/call ratio averaged 3.80.

Notable Days

2025-02-21: Highest Volume — 290 contracts
2025-02-25: Largest IV spike — 10.4% change
2025-02-27: Highest IV Rank — 33.0%
2025-02-27: Largest Expected Move — 9.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$607.39	$573.37	$649.34	$584.31	$597.63
Max Pain	$597.89	$580.00	$650.00	$650.00	$610.00
ATM IV	28.8%	25.9%	33.4%	27.1%	31.9%
Expected Move	8.3%	7.7%	9.6%	7.8%	9.1%
HV 20d	37.1%	30.6%	40.9%	36.5%	30.6%
HV 60d	30.8%	29.9%	31.8%	31.8%	30.5%
IV Rank	18.4%	9.4%	33.0%	13.0%	28.0%
IV Percentile	47.6%	15.9%	86.5%	29.8%	77.4%
Term Structure	-0.6%	-2.9%	1.7%	-1.3%	0.5%
VWIV	29.1%	25.6%	34.3%	25.6%	33.7%
Skew 25d	2.1%	-2.4%	4.8%	2.6%	2.1%
Skew 10d	3.9%	-10.6%	10.1%	-1.0%	5.3%
Call IV 25d	27.9%	25.4%	32.8%	27.7%	30.8%
Put IV 25d	30.0%	27.1%	33.8%	30.3%	32.9%
Bid-Ask Spread %	83.52	77.36	87.46	78.57	77.36
Gamma HHI	0.12	0.06	0.23	0.10	0.08
Net GEX	-132.6K	-525.0K	316.9K	-339.8K	-176.6K
Net DEX	-572.5K	-15.6M	10.6M	8.4M	970.6K
Net VEX	-87.5K	-105.7K	-68.7K	-80.3K	-101.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.80	0.00	26.90	6.50	26.90
Total Volume	72.211	6	290	45	279
Total OI	1,476.947	1,215	1,703	1,463	1,282

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
2025-02-03	$584.31	$650.00	27.1%	7.8%	36.5%	13.0%	25.6%	2.6%	-1.3%	-339.8K	8.4M	-80.3K	6.50	78.57	6	39	841	622
2025-02-04	$580.43	$640.00	28.7%	8.2%	36.2%	18.2%	27.1%	2.6%	-0.1%	-451.1K	10.6M	-77.2K	0.75	80.63	12	9	845	650
2025-02-05	$584.20	$640.00	27.3%	7.8%	36.3%	13.7%	26.0%	3.0%	1.1%	-416.0K	8.8M	-77.0K	0.60	80.36	15	9	848	640
2025-02-06	$582.96	$580.00	27.1%	7.8%	36.3%	13.1%	26.7%	0.7%	1.7%	-447.9K	8.1M	-76.1K	1.13	82.35	15	17	854	633
2025-02-07	$573.37	$580.00	26.5%	8.0%	35.6%	11.2%	25.9%	1.2%	0.4%	-525.0K	10.5M	-72.0K	9.82	82.97	11	108	868	632
2025-02-10	$582.59	$580.00	26.3%	7.7%	35.8%	10.4%	0.0%	1.6%	-1.2%	-426.2K	8.6M	-68.7K	0.00	87.46	6	0	872	628
2025-02-11	$600.99	$580.00	25.9%	8.0%	37.5%	9.4%	29.1%	3.9%	-0.8%	-274.3K	3.8M	-76.4K	0.48	84.55	87	42	873	628
2025-02-12	$605.68	$580.00	28.2%	8.1%	37.3%	16.4%	28.9%	4.1%	-1.4%	-5.6K	-534.0K	-89.8K	0.04	83.91	67	3	944	666
2025-02-13	$619.33	$580.00	28.3%	8.1%	38.1%	16.9%	28.6%	4.8%	-1.3%	-317	-4.3M	-91.0K	0.31	86.69	36	11	946	666
2025-02-14	$622.03	$580.00	28.1%	8.1%	37.4%	16.3%	27.1%	3.2%	-0.1%	33.1K	-4.7M	-89.7K	1.60	85.74	5	8	944	669
2025-02-18	$633.83	$580.00	28.9%	8.3%	38.0%	18.7%	29.7%	2.7%	-0.9%	32.7K	-9.2M	-86.6K	0.32	82.65	19	6	945	671
2025-02-19	$649.34	$580.00	27.7%	7.9%	37.9%	15.0%	28.3%	3.3%	-0.8%	316.9K	-15.6M	-84.7K	7.60	87.25	5	38	947	671
2025-02-20	$641.11	$580.00	27.8%	8.0%	38.2%	15.4%	28.6%	1.7%	-0.5%	-82.1K	-12.4M	-84.3K	0.44	86.93	64	28	946	701
2025-02-21	$616.53	$580.00	30.1%	8.6%	40.3%	22.4%	31.0%	2.3%	0.4%	181.6K	-2.6M	-90.9K	5.30	85.25	46	244	999	704
2025-02-24	$613.53	$610.00	29.6%	8.5%	40.3%	20.9%	29.2%	-2.4%	-1.7%	-4.3K	-4.8M	-103.8K	3.00	77.58	10	30	642	573
2025-02-25	$621.13	$610.00	32.7%	9.4%	40.7%	30.5%	32.6%	3.2%	-2.9%	51.8K	-6.6M	-104.5K	0.75	84.24	4	3	646	576
2025-02-26	$627.18	$610.00	31.3%	9.0%	40.9%	26.3%	30.9%	0.6%	-0.7%	91.3K	-7.8M	-105.7K	1.00	86.58	22	22	650	576
2025-02-27	$604.17	$610.00	33.4%	9.6%	30.6%	33.0%	34.3%	-0.6%	-2.7%	-77.3K	-2.1M	-102.3K	5.57	85.78	7	39	667	597
2025-02-28	$597.63	$610.00	31.9%	9.1%	30.6%	28.0%	33.7%	2.1%	0.5%	-176.6K	970.6K	-101.3K	26.90	77.36	10	269	672	610