Let's seize the opportunity to touch upon Laxus strength. Imo, dude has the most incredible stamina, physical and magical endurance around. Since the beginning of the story. Until now.
In fighting festival arc, despite casting town-level spells in thunder palace, he fought Mystogan. Then Natsu. And Erza. Then Natsu again. Then Natsu and Gajeel simultaneously. He casted fairy law, another spell at least on the level of town destruction, and still had sufficient fuel left in the tank to dominate an emotionally empowered Natsu. Until Gajeel intervene again, and Natsu took another level in his emotions, did Laxus finally got defeated. Funny thing is, both Natsu and Gajeel ended looking worse for wear in the aftermath, as compared to Laxus.
During the s-class exam on tenrou island, Laxus transferred all his magic power to Natsu. Not just his lightning magic. But literally his magic power. And he transferred every bit of it.
Let's put things into perspective here. Magic power is the source of power for all mages, and the physical embodiment of their spirit.
Magic power and physical abilities of a magician works in conjunction with one another. When someone gets drained of their magic power, they get affected physically to the point where they struggle even to stand.
Losing magic power for magicians seem to cripple them to the point where they they could barely function at a human competency level. Let alone someone who was running on empty magic power. Laxus let himself get struck by the full might of an Amaterasu attack from Hades, which was able to blow through the reinforced armour of the Grimoire Heart's airship, while he had zero magic power in his body.
Imagine a Shinobi with no chakra. Or a Shinigami without reiryoku. And still taking an attack head on from probably the strongest character in the series so far then. Laxus, though admittedly was out of commission briefly, still got up and strike Hades shortly afterwards, initiating the counterattack.
And characters from Jellal, Brandish and Dimaria were about as useful as a broom when they could not access their magic power while being incarcerated by magic sealing stones. Further comments from Erza, Gray and Wendy after Laxus got struck by Hades only helps to support the point it was a physically impossible feat.
In Alvarez, Laxus fought Wahl while under chronic sickness and pain, which kept getting worse as the battle wore on. He still has enough to formulate a plan, bypass Wahl's immunity to lightning, and murdered him. He then went on to fight and defeat Hades' historia.
When it boils down to it, Laxus is one of the fastest characters in the story. I don't want to sound too much like a Laxus wanker, but the guy has, on multiple occasions, react and move faster than his opponents can even perceive or register his movement. His velocity and agility can be further increased by transforming into lightning. When in his lightning body, not only is he travelling fast, his style of fighting is unpredictable which allows Laxus to often catch them by surprise.
Laxus' versatility have seen him employing his magic in various methods.
From momentarily blinding everyone in the vicinity
To summoning from the skies for an aerial attack
Or conjuring it from below
And paralyze his foes
He could use them for straight up melee, or at a distance from range.
