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Lemonade Inc LMND

FINANCIAL SERVICES · INSURANCE - PROPERTY & CASUALTY
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Market dataready · fetched 2026-10-16T02:31:51.742Z

Delta surfaceAlpaca · derived absolute-delta buckets · 2026-10-16

Calculation methodology

PriceAlpaca · sip · 2026-10-15T23:57:36.588161241Z

FundamentalsAlpha Vantage · quarter 2026-06-30 · fetched 2026-10-16T02:31:51.344564+00:00

Research2026-08-31 · 60 entries · 63 trades · 0 option records · 1547 price bars

Share price$46.00
1D+6.5%
AH$42.49$43.47$44.45$45.42$46.405:30 AM6:30 AM9:00 AM1:00 PM2:00 PMLMND
Sold putSold callAH

Lemonade Inc options

Live interpolated LMND call and put midpoint premiums by absolute delta.Lemonade Inc$0.10$1.13$2.17$3.20$4.24$41.70$43.56$45.42$47.28$49.1420Δ25Δ30Δ35Δ40Δ45Δ50Δ55Δ60Δ65Δ70Δ75Δ80ΔOPTION PRICELive LMND spot · $46.00LMND PRICE$0.29$0.21$0.31$0.42$0.52$0.60$0.69$0.74$0.78$0.82$1.40$1.54$1.68$0.23$0.30$0.37$0.46$0.56$0.69$0.83$1.01$1.62$2.63$1.71$3.26$3.94
PutsExpensive1.64×
CallsCheap0.64×
SkewBearish+31.17 pp
Implied moveBearish±$1.52
TiltBearish27.6% PUT
Table
Values and derived Greeks for the plotted delta buckets
DeltaCallsPuts
Pseudo strikeIVB/E movePseudo strikeIVB/E move
20Δ48.58129.6%6.2%44.3490.4%4.1%
25Δ46.9858.6%2.6%44.7480.9%3.4%
30Δ46.8364.7%2.5%45.0678.7%2.9%
35Δ46.6770.8%2.4%45.3178.6%2.5%
40Δ46.5176.9%2.2%45.5779.2%2.2%
45Δ46.2875.2%1.9%45.8181.6%1.9%
50Δ46.0473.0%1.6%46.0584.1%1.7%
55Δ45.8667.8%1.3%46.3286.8%1.5%
60Δ45.6862.1%1.0%46.87116.2%1.6%
65Δ45.5156.3%0.7%47.75165.0%1.9%
70Δ45.0084.1%0.9%47.2796.7%1.0%
75Δ44.7779.8%0.7%48.74153.9%1.1%
80Δ44.5375.5%0.5%49.53187.4%0.9%

20Δ

Calls
Pseudo strike
48.58
IV
129.6%
B/E move
6.2%
Puts
Pseudo strike
44.34
IV
90.4%
B/E move
4.1%

25Δ

Calls
Pseudo strike
46.98
IV
58.6%
B/E move
2.6%
Puts
Pseudo strike
44.74
IV
80.9%
B/E move
3.4%

30Δ

Calls
Pseudo strike
46.83
IV
64.7%
B/E move
2.5%
Puts
Pseudo strike
45.06
IV
78.7%
B/E move
2.9%

35Δ

Calls
Pseudo strike
46.67
IV
70.8%
B/E move
2.4%
Puts
Pseudo strike
45.31
IV
78.6%
B/E move
2.5%

40Δ

Calls
Pseudo strike
46.51
IV
76.9%
B/E move
2.2%
Puts
Pseudo strike
45.57
IV
79.2%
B/E move
2.2%

45Δ

Calls
Pseudo strike
46.28
IV
75.2%
B/E move
1.9%
Puts
Pseudo strike
45.81
IV
81.6%
B/E move
1.9%

50Δ

Calls
Pseudo strike
46.04
IV
73.0%
B/E move
1.6%
Puts
Pseudo strike
46.05
IV
84.1%
B/E move
1.7%

55Δ

Calls
Pseudo strike
45.86
IV
67.8%
B/E move
1.3%
Puts
Pseudo strike
46.32
IV
86.8%
B/E move
1.5%

60Δ

Calls
Pseudo strike
45.68
IV
62.1%
B/E move
1.0%
Puts
Pseudo strike
46.87
IV
116.2%
B/E move
1.6%

65Δ

Calls
Pseudo strike
45.51
IV
56.3%
B/E move
0.7%
Puts
Pseudo strike
47.75
IV
165.0%
B/E move
1.9%

70Δ

Calls
Pseudo strike
45.00
IV
84.1%
B/E move
0.9%
Puts
Pseudo strike
47.27
IV
96.7%
B/E move
1.0%

75Δ

Calls
Pseudo strike
44.77
IV
79.8%
B/E move
0.7%
Puts
Pseudo strike
48.74
IV
153.9%
B/E move
1.1%

80Δ

Calls
Pseudo strike
44.53
IV
75.5%
B/E move
0.5%
Puts
Pseudo strike
49.53
IV
187.4%
B/E move
0.9%

Company coverage

Moat

Narrow

Lemonade's claimed moat rests on proprietary AI claims processing that reduces costs and improves accuracy by ~30%. However, this technological advantage faces erosion as major incumbent insurers aggressively adopt AI. Switching costs are relatively…

Physical assets

Minimal

Pure software/platform company with no significant physical manufacturing, real estate, or tangible infrastructure. Asset-light is a strategic advantage operationally but provides no physical defensibility.

Software / hardware

Software100%
Hardware0%

Growth. AI claims processing cost advantage drives EBITDA profitability by Q4 2026 as car, home, pet, and life insurance lines compound 30% IFP growth. Primary assets. AI insurance underwriting platform, car/home/pet/life insurance licenses, mobile…

Latest entries
  1. manual · sw-hw

    Growth. AI claims processing cost advantage drives EBITDA profitability by Q4 2026 as car, home, pet, and life insurance lines compound 30% IFP growth. Primary assets. AI insurance underwriting platform, car/home/pet/life insuran…

  2. manual · physical-assets

    Pure software/platform company with no significant physical manufacturing, real estate, or tangible infrastructure. Asset-light is a strategic advantage operationally but provides no physical defensibility.

  3. manual · moat

    Lemonade's claimed moat rests on proprietary AI claims processing that reduces costs and improves accuracy by ~30%. However, this technological advantage faces erosion as major incumbent insurers aggressively adopt AI. Switching…

Recent records
Action Type Relative size
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SELL Equity +76%
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SELL Equity +0%
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SELL Equity +11%
SELL Equity +0%
SELL Equity +6%
SELL Equity +2%
BUY Equity +11%
BUY Equity +1%
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BUY Equity +1%
BUY Equity +11%
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BUY Equity +8%
BUY Equity +8%
BUY Equity +11%
BUY Equity +11%
BUY Equity +22%
BUY Equity +11%

Notes

Full portfolio moat / asset analysis

Lemonade's claimed moat rests on proprietary AI claims processing that reduces costs and improves accuracy by ~30%. However, this technological advantage faces erosion as major incumbent insurers aggressively adopt AI. Switching costs are relatively low — customers can easily change policies annually. The mobile-first UX appeals to millennial/Gen-Z demograp…

Full portfolio moat / asset analysis

The company is targeting adjusted EBITDA profitability by Q4 2026 with 30% IFP CAGR. But Lemonade lacks the massive policyholder base and data advantage of traditional insurers.