LII Options History — May 2025

In May 2025, LII traded between $561.22 and $604.00. ATM implied volatility averaged 33.9%, placing in the 20.2% IV rank vs the trailing year. The 30-day expected move averaged 9.3%. IV traded below realized volatility by 12.8% (HV 20d: 46.7%). Max pain ranged from $540.00 to $570.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 7.28.

Notable Days

  • 2025-05-22: Highest Volume — 1,363 contracts
  • 2025-05-14: Largest IV drop — 25.6% change
  • 2025-05-13: Highest IV Rank — 33.5%
  • 2025-05-01: Largest Expected Move — 10.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$579.29$561.22$604.00$561.38$565.92
Max Pain$558.57$540.00$570.00$550.00$560.00
ATM IV33.9%29.0%41.0%37.1%32.5%
Expected Move9.3%8.3%10.6%10.6%9.3%
HV 20d46.7%27.2%69.2%69.2%27.2%
HV 60d50.0%49.3%50.4%50.3%49.3%
IV Rank20.2%11.3%33.5%26.1%16.0%
IV Percentile71.9%39.7%93.3%88.9%64.3%
Term Structure-0.1%-3.5%2.3%-0.4%-1.5%
VWIV31.7%23.5%39.2%37.8%29.1%
Skew 25d4.9%0.2%11.1%3.5%6.6%
Skew 10d8.1%-3.9%15.0%4.3%-3.9%
Call IV 25d29.5%27.0%36.1%36.1%27.9%
Put IV 25d34.5%30.1%39.6%39.6%34.5%
Bid-Ask Spread %86.6179.3894.7681.7394.76
Gamma HHI0.190.120.250.120.17
Net GEX1.2M695.2K1.8M695.2K977.2K
Net DEX-22.7M-44.5M-9.3M-11.5M-10.1M
Net VEX-134.6K-154.4K-111.9K-111.9K-114.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio7.280.0096.360.140.00
Total Volume174.85711,36324214
Total OI2,171.3811,7062,6131,7062,005

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-05-01$561.38$550.0037.1%10.6%69.2%26.1%37.8%3.5%-0.4%695.2K-11.5M-111.9K0.1481.73213291,079627
2025-05-02$561.22$550.0034.6%9.9%66.9%21.5%34.3%11.1%-3.5%1.2M-17.7M-128.2K30.5789.7172141,292631
2025-05-05$566.49$540.0035.9%9.7%66.7%24.1%31.9%7.7%0.5%878.6K-15.5M-139.7K0.0079.3826801,295838
2025-05-06$568.19$540.0036.8%9.9%65.0%25.7%39.2%7.3%0.2%1.3M-21.5M-152.8K1.8882.518151,499838
2025-05-07$569.90$540.0036.8%9.7%63.4%25.6%31.2%6.3%1.1%1.3M-23.0M-152.3K0.1382.88811,498847
2025-05-08$577.90$540.0037.0%9.5%50.7%25.9%30.1%6.4%1.3%1.5M-29.3M-151.0K0.6481.601491,500848
2025-05-09$573.43$540.0035.8%9.6%49.5%23.8%35.9%4.6%0.4%1.5M-26.9M-147.8K1.5084.09461,500853
2025-05-12$593.32$540.0036.2%8.5%50.4%24.5%30.9%3.5%2.3%1.7M-39.7M-137.8K0.9684.784264081,500854
2025-05-13$604.00$570.0041.0%8.7%50.6%33.5%33.5%5.5%1.9%1.7M-44.5M-154.4K0.0784.25201151,6061,007
2025-05-14$588.72$570.0030.5%8.7%51.5%14.0%31.2%3.6%1.4%1.7M-33.5M-150.6K0.0584.6410651,5191,011
2025-05-15$593.63$570.0029.0%8.3%50.7%11.3%30.1%6.1%0.1%1.6M-32.4M-139.5K0.0687.081711,4461,012
2025-05-16$602.59$570.0031.0%8.9%50.3%14.9%30.7%3.7%-0.4%1.8M-39.5M-137.1K0.4485.09941,4551,011
2025-05-19$603.79$570.0030.2%8.7%48.2%13.5%31.0%4.6%0.0%1.1M-29.9M-129.9K0.0084.12101,228738
2025-05-20$597.43$570.0030.9%8.9%46.5%14.7%30.3%2.0%-1.4%1.1M-26.5M-127.4K2.0088.458161,228738
2025-05-21$572.98$570.0032.9%9.4%29.0%18.5%32.0%0.2%-0.7%834.6K-12.9M-131.1K0.8089.7430241,228754
2025-05-22$577.59$570.0033.1%9.5%27.9%18.7%23.5%4.2%-0.5%918.7K-15.3M-131.5K96.3692.40141,3491,254761
2025-05-23$568.69$570.0033.9%9.7%28.8%20.3%33.0%3.9%-0.4%835.3K-10.0M-129.8K0.1089.731011,266764
2025-05-27$578.27$570.0032.5%9.3%29.0%17.6%29.1%6.0%-0.2%1.1M-15.1M-121.9K14.2289.9791281,266764
2025-05-28$568.82$570.0031.4%9.0%29.9%15.6%27.9%2.3%-1.3%965.9K-9.3M-119.2K2.5090.5618451,275770
2025-05-29$570.90$560.0032.8%9.4%29.4%18.3%32.8%5.0%-1.3%1.0M-12.3M-117.4K0.5591.291161,281713
2025-05-30$565.92$560.0032.5%9.3%27.2%16.0%29.1%6.6%-1.5%977.2K-10.1M-114.4K0.0094.761401,286719