It is a coastal species, found in the eastern Pacific, near Ecuador and Costa Rica.

Due to its morphological characteristics, L. argus could easily be confused with other species of its genus.It is found on soft bottoms and within the water column,[1] and the depths that it inhabits are usually between 0 and 70m from the surface.

L. Argus has a maximum mantle sizes are 30mm for males and 39mm for females.

The ovulation pattern in L. argus is asynchronous, with multiple-batch spawning in a relatively short period of time.

[4] It breeds in the coastal waters off Puerto Ángel and in the Gulf of Tehuantepec.