LQDA · expected move and max pain by expiry
Liquidia is priced to move 54.2% by 2027-Mar-19, with max pain at 30.00.
Options price a ±54.22% move (about $24.07) by 2027-Mar-19 (Fri), a range of 20.33 to 68.47 from the last price of 44.40. Max pain for that expiry is 30.00.
LQDA
Liquidia Corporation
Last
44.40 -0.09 (-0.2%)
Next expiry move
±54.22% 132 days
Implied vol
90.2% 132 days
Put / call
0.12
Weekend
Fetched 2026-11-07, 01:12:33 PM ET
Fetched 2026-11-07, 01:12:33 PM ET
expected range last price 44.40 max painAxis 15 to 73, shared by every row
Expiry
Expected range (1 SD)
Expected move
Max pain
Odds inside
2027-Mar-19Fri, 132 days
20.33
68.47
Expected move±54.22%±$24.07
Max pain30.0032.4% below last price
Odds of closing inside74%put/call 0.12
2027-Apr-16Fri, 160 days
18.47
70.33
Expected move±58.40%±$25.93
Max pain42.504.3% below last price
Odds of closing inside75%put/call 1.15
Not shown: 2026-Nov-13 (bid/ask spread 101% of the option prices), 2026-Nov-20 (bid/ask spread 85% of the option prices), 2026-Nov-27 (bid/ask spread 92% of the option prices), 2026-Dec-04 (bid/ask spread 80% of the option prices), 2026-Dec-11 (no strike quoted above the price yet), 2026-Dec-18 (bid/ask spread 73% of the option prices), 2027-Jan-15 (bid/ask spread 45% of the option prices). Those options are too thinly quoted to price a move honestly; each date appears once they are.
Key levels from open interest
42.50 / 45.00
The heaviest put open interest near the price sits at 42.50 and the heaviest call open interest at 45.00, weighted toward strikes close to the last price. Price sometimes gravitates toward large open interest into expiry.
LQDA max pain by expiry
Liquidia's max pain for 2027-Mar-19 is 30.00, 32.4% below the last price. It is the strike at which the calls and puts open for that expiry would pay out the least in total, computed from open interest. Price sometimes drifts toward it in the final session because of dealer hedging; treat it as a reference level, not a target. How max pain is calculated.
| Expiry | Max pain | From last price | Put/call |
|---|---|---|---|
| 2027-Mar-19 Fri | 30.00 | -32.4% | 0.12 |
| 2027-Apr-16 Fri | 42.50 | -4.3% | 1.15 |
LQDA put/call ratio
The put/call ratio for the 2027-Mar-19 expiry is 0.12: well under 1, so traders hold noticeably more calls than puts on that date. Readings well below 0.7 are often read as complacent and above 1.2 as fearful, and extremes are sometimes taken as contrarian signals, but on index products like SPY a high ratio is normal because puts are bought as insurance. It is a sentiment gauge, not a direction call. What the ratio measures and what it does not, or compare it with every tracked stock's put/call ratio today.
Reading the LQDA expected move table
Each row is one expiry. The shaded band is the one-standard-deviation range the option chain implies for LQDA on that date: the market gives roughly a two-in-three chance that LQDA closes inside it and a one-in-three chance it closes outside. The black tick is the last traded price, 44.40. The diamond is max pain, the strike where option holders would collect the least if the stock settled there.
The range widens with time because uncertainty compounds with the square root of time: the 2027-Apr-16 range (±58.40%) is wider than the 2027-Mar-19 range (±54.22%) even though the daily volatility behind both is the same. Read the methodology for the formulas, or the guide to what the expected move means in practice.
Figures are derived from delayed public option data and recalculated through the trading day. Nothing on this page is investment advice. Machine-readable version: /api/expected-move/LQDA. Every ticker the site tracks is listed at /stocks.
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