LII Options History — November 2025

In November 2025, LII traded between $445.88 and $497.70. ATM implied volatility averaged 34.0%, placing in the 19.0% IV rank vs the trailing year. The 30-day expected move averaged 9.7%. IV traded below realized volatility by 3.8% (HV 20d: 37.8%). Max pain ranged from $470.00 to $540.00. Net GEX was positive for 1 of 19 trading days. Term structure was in contango for 12 of 19 days. Put/call ratio averaged 17.10.

Notable Days

2025-11-20: Highest Volume — 5,226 contracts
2025-11-12: Largest IV drop — 9.4% change
2025-11-11: Highest IV Rank — 22.4%
2025-11-17: Largest Expected Move — 10.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$478.40	$445.88	$497.70	$491.78	$497.70
Max Pain	$497.89	$470.00	$540.00	$540.00	$470.00
ATM IV	34.0%	31.9%	35.8%	32.9%	32.6%
Expected Move	9.7%	9.1%	10.2%	9.4%	9.4%
HV 20d	37.8%	20.0%	48.2%	48.2%	29.3%
HV 60d	36.1%	34.1%	38.0%	37.9%	35.7%
IV Rank	19.0%	14.9%	22.4%	16.8%	16.3%
IV Percentile	70.7%	50.8%	82.5%	61.5%	55.6%
Term Structure	0.1%	-3.2%	2.6%	-0.4%	-2.1%
VWIV	33.0%	29.5%	35.2%	30.7%	33.0%
Skew 25d	2.9%	-0.8%	9.7%	-0.8%	4.4%
Skew 10d	8.2%	-7.5%	24.5%	1.7%	22.9%
Call IV 25d	31.3%	26.7%	34.7%	31.8%	27.6%
Put IV 25d	34.2%	31.0%	37.4%	31.0%	32.0%
Bid-Ask Spread %	91.06	87.59	94.79	94.69	94.79
Gamma HHI	0.31	0.21	0.63	0.22	0.25
Net GEX	-2.7M	-6.0M	33.3K	-2.7M	33.3K
Net DEX	34.3M	-1.8M	63.8M	33.8M	-1.8M
Net VEX	-87.4K	-127.8K	-58.8K	-127.8K	-63.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	17.10	0.00	185.64	1.67	0.30
Total Volume	405.211	6	5,226	48	6
Total OI	3,058	1,429	3,550	3,503	1,525

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
2025-11-03	$491.78	$540.00	32.9%	9.4%	48.2%	16.8%	30.7%	-0.8%	-0.4%	-2.7M	33.8M	-127.8K	1.67	94.69	18	30	1,217	2,286
2025-11-04	$493.73	$540.00	33.4%	9.6%	47.6%	17.8%	32.9%	2.1%	-0.6%	-2.7M	32.7M	-122.4K	0.72	94.25	18	13	1,219	2,296
2025-11-05	$489.89	$530.00	33.4%	9.6%	45.9%	17.8%	29.5%	4.2%	0.3%	-2.8M	35.0M	-120.4K	0.13	94.01	15	2	1,224	2,308
2025-11-06	$490.97	$500.00	34.2%	9.9%	44.8%	19.2%	33.8%	2.9%	0.5%	-2.8M	34.8M	-125.2K	0.33	88.24	9	3	1,225	2,300
2025-11-07	$492.96	$500.00	33.8%	9.7%	44.5%	18.5%	32.0%	3.3%	1.4%	-2.9M	35.6M	-113.1K	0.12	87.59	26	3	1,225	2,298
2025-11-10	$489.28	$500.00	34.1%	9.7%	44.5%	19.1%	32.8%	2.6%	0.9%	-3.0M	36.7M	-102.9K	0.67	89.03	6	4	1,246	2,297
2025-11-11	$488.11	$500.00	35.8%	9.7%	44.4%	22.4%	33.3%	4.4%	0.3%	-2.8M	36.2M	-103.4K	0.00	88.18	18	0	1,246	2,297
2025-11-12	$478.81	$500.00	32.5%	9.3%	44.5%	16.0%	32.1%	2.7%	2.6%	-3.4M	45.7M	-93.7K	2.23	89.49	26	58	1,256	2,294
2025-11-13	$478.30	$500.00	34.2%	9.8%	44.5%	19.4%	34.5%	2.3%	0.4%	-3.1M	38.7M	-92.9K	1.38	88.07	8	11	1,262	2,206
2025-11-14	$471.77	$500.00	34.8%	10.0%	44.6%	20.4%	0.0%	-0.4%	0.6%	-3.4M	41.1M	-86.9K	0.15	88.75	13	2	1,266	2,170
2025-11-17	$460.62	$500.00	35.7%	10.2%	43.7%	22.2%	34.7%	0.0%	-0.2%	-3.7M	52.2M	-78.3K	0.81	89.34	26	21	1,270	2,169
2025-11-18	$457.82	$500.00	35.3%	10.1%	41.6%	21.4%	35.2%	2.1%	1.6%	-4.3M	53.9M	-70.4K	94.63	91.30	16	1,514	1,281	2,162
2025-11-19	$448.67	$490.00	35.0%	10.0%	20.0%	20.8%	34.4%	0.7%	1.9%	-4.5M	61.5M	-59.8K	18.53	94.76	15	278	1,285	2,117
2025-11-20	$445.88	$490.00	34.3%	9.8%	20.0%	19.4%	33.5%	3.7%	0.5%	-6.0M	63.8M	-58.9K	185.64	91.93	28	5,198	1,284	2,148
2025-11-21	$466.07	$490.00	33.9%	9.7%	26.6%	18.7%	34.3%	2.7%	-0.8%	-2.5M	36.3M	-61.0K	0.29	89.74	132	38	1,302	2,038
2025-11-24	$466.79	$470.00	33.9%	9.7%	25.0%	18.7%	32.9%	2.0%	-1.4%	-708.3K	10.1M	-59.9K	0.05	91.30	38	2	692	737
2025-11-25	$484.41	$470.00	34.8%	10.0%	28.9%	20.5%	31.3%	6.2%	-3.2%	-529.4K	5.8M	-58.8K	0.10	92.90	59	6	720	739
2025-11-26	$496.06	$470.00	31.9%	9.1%	29.4%	14.9%	33.8%	9.7%	0.2%	-26.8K	-205.2K	-61.8K	0.30	91.82	30	9	755	740
2025-11-28	$497.70	$470.00	32.6%	9.4%	29.3%	16.3%	33.0%	4.4%	-2.1%	33.3K	-1.8M	-63.2K	0.00	94.79	0	6	779	746