IntraAlpha
Create free account Start free

Lemonade Inc LMND

FINANCIAL SERVICES · INSURANCE - PROPERTY & CASUALTY
i

Market dataready · fetched 2026-10-16T01:04:19.898Z

Delta surfaceAlpaca · derived absolute-delta buckets · 2026-11-20

Calculation methodology

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

FundamentalsAlpha Vantage · quarter 2026-06-30 · fetched 2026-10-16T01:04:19.335246+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$0.65$5.09$9.52$13.96$18.40$31.47$38.53$45.59$52.65$59.7120Δ25Δ30Δ35Δ40Δ45Δ50Δ55Δ60Δ65Δ70Δ75Δ80ΔOPTION PRICELive LMND spot · $46.00LMND PRICE$1.13$1.49$1.89$2.32$2.75$3.29$3.89$4.48$5.12$6.00$6.88$7.76$8.50$1.57$2.07$2.64$3.21$3.79$4.69$5.66$6.64$7.68$8.78$9.87$12.65$17.12
PutsExpensive1.34×
CallsExpensive1.43×
SkewBearish+5.65 pp
Implied moveBearish±$9.55
TiltBearish21.8% PUT
Table
Values and derived Greeks for the plotted delta buckets
DeltaCallsPuts
Pseudo strikeIVB/E movePseudo strikeIVB/E move
20Δ58.5877.5%29.8%38.2981.9%20.2%
25Δ56.1277.0%25.2%40.0483.4%17.4%
30Δ54.0476.5%21.6%41.5981.9%15.3%
35Δ52.2776.1%18.7%43.1580.4%13.2%
40Δ50.5175.7%15.8%44.7078.9%11.1%
45Δ48.9975.8%13.7%46.2579.5%9.6%
50Δ47.5776.0%11.8%47.8080.6%8.4%
55Δ46.1476.2%10.0%49.3581.7%7.2%
60Δ44.7176.5%8.3%50.9381.2%6.0%
65Δ43.2576.9%7.1%52.5479.5%4.9%
70Δ41.7877.4%5.8%54.1577.9%3.7%
75Δ40.3277.8%4.5%57.3083.8%3.0%
80Δ39.1171.9%3.5%62.0394.1%2.4%

20Δ

Calls
Pseudo strike
58.58
IV
77.5%
B/E move
29.8%
Puts
Pseudo strike
38.29
IV
81.9%
B/E move
20.2%

25Δ

Calls
Pseudo strike
56.12
IV
77.0%
B/E move
25.2%
Puts
Pseudo strike
40.04
IV
83.4%
B/E move
17.4%

30Δ

Calls
Pseudo strike
54.04
IV
76.5%
B/E move
21.6%
Puts
Pseudo strike
41.59
IV
81.9%
B/E move
15.3%

35Δ

Calls
Pseudo strike
52.27
IV
76.1%
B/E move
18.7%
Puts
Pseudo strike
43.15
IV
80.4%
B/E move
13.2%

40Δ

Calls
Pseudo strike
50.51
IV
75.7%
B/E move
15.8%
Puts
Pseudo strike
44.70
IV
78.9%
B/E move
11.1%

45Δ

Calls
Pseudo strike
48.99
IV
75.8%
B/E move
13.7%
Puts
Pseudo strike
46.25
IV
79.5%
B/E move
9.6%

50Δ

Calls
Pseudo strike
47.57
IV
76.0%
B/E move
11.8%
Puts
Pseudo strike
47.80
IV
80.6%
B/E move
8.4%

55Δ

Calls
Pseudo strike
46.14
IV
76.2%
B/E move
10.0%
Puts
Pseudo strike
49.35
IV
81.7%
B/E move
7.2%

60Δ

Calls
Pseudo strike
44.71
IV
76.5%
B/E move
8.3%
Puts
Pseudo strike
50.93
IV
81.2%
B/E move
6.0%

65Δ

Calls
Pseudo strike
43.25
IV
76.9%
B/E move
7.1%
Puts
Pseudo strike
52.54
IV
79.5%
B/E move
4.9%

70Δ

Calls
Pseudo strike
41.78
IV
77.4%
B/E move
5.8%
Puts
Pseudo strike
54.15
IV
77.9%
B/E move
3.7%

75Δ

Calls
Pseudo strike
40.32
IV
77.8%
B/E move
4.5%
Puts
Pseudo strike
57.30
IV
83.8%
B/E move
3.0%

80Δ

Calls
Pseudo strike
39.11
IV
71.9%
B/E move
3.5%
Puts
Pseudo strike
62.03
IV
94.1%
B/E move
2.4%

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
SELL Equity +100%
SELL Equity +76%
SELL Equity +19%
SELL Equity +12%
SELL Equity +0%
SELL Equity +5%
SELL Equity +1%
SELL Equity +43%
SELL Equity +11%
SELL Equity +0%
SELL Equity +6%
SELL Equity +2%
BUY Equity +11%
BUY Equity +1%
BUY Equity +22%
BUY Equity +1%
BUY Equity +11%
BUY Equity +8%
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.