LBRDA Options History — July 2016

In July 2016, LBRDA traded between $55.86 and $59.26. ATM implied volatility averaged 39.7%, placing in the 21.1% IV rank vs the trailing year. The 30-day expected move averaged 9.1%. IV traded above realized volatility by 17.3% (HV 20d: 22.4%). Max pain ranged from $51.55 to $51.55. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 15.48.

Notable Days

2016-07-12: Highest Volume — 231 contracts
2016-07-12: Largest IV spike — 197.0% change
2016-07-12: Highest IV Rank — 77.6%
2016-07-01: Largest Expected Move — 16.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$57.81	$55.86	$59.26	$56.16	$58.91
Max Pain	$51.55	$51.55	$51.55	$51.55	$51.55
ATM IV	39.7%	23.0%	99.1%	57.1%	24.3%
Expected Move	9.1%	6.3%	16.4%	16.4%	7.0%
HV 20d	22.4%	10.9%	26.1%	26.1%	11.2%
HV 60d	24.2%	21.8%	25.4%	25.4%	21.9%
IV Rank	21.1%	5.1%	77.6%	37.6%	6.4%
IV Percentile	47.7%	5.6%	99.6%	89.7%	10.3%
Term Structure	-2.5%	-31.3%	39.6%	-31.3%	-5.6%
VWIV	40.6%	19.6%	74.8%	73.1%	34.8%
Skew 25d	9.0%	-6.9%	40.7%	5.0%	29.6%
Skew 10d	12.6%	-11.1%	52.1%	29.0%	7.6%
Call IV 25d	35.9%	23.8%	73.8%	73.8%	27.8%
Put IV 25d	44.9%	23.9%	78.8%	78.8%	57.5%
Bid-Ask Spread %	129.26	105.95	143.09	134.22	136.91
Gamma HHI	0.68	0.46	0.85	0.52	0.76
Net GEX	-15.2K	-21.8K	-3.9K	-21.8K	-13.3K
Net DEX	62.4K	-32.9K	145.1K	101.9K	80.5K
Net VEX	-1.3K	-1.6K	-1.1K	-1.6K	-1.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	15.48	3.63	26.67	4.06	26.67
Total Volume	192.55	177	231	183	177
Total OI	297.65	184	437	394	184

Daily Data (20 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2016-07-01	$56.16	$51.55	57.1%	16.4%	26.1%	37.6%	73.1%	5.0%	-31.3%	-21.8K	101.9K	-1.6K	4.06	134.22	36	147	37	357
2016-07-05	$55.86	$0.00	46.8%	7.9%	25.7%	27.8%	0.0%	8.2%	-2.5%	-19.0K	40.4K	-1.3K	4.06	130.80	36	147	37	357
2016-07-06	$55.98	$0.00	53.9%	8.9%	25.6%	34.6%	0.0%	8.6%	-5.6%	-17.8K	36.0K	-1.4K	4.06	135.32	36	147	37	357
2016-07-07	$56.38	$0.00	71.0%	9.0%	25.6%	50.8%	0.0%	11.4%	-3.2%	-16.7K	84.0K	-1.5K	3.63	143.09	41	147	37	357
2016-07-08	$57.05	$0.00	26.5%	6.3%	25.9%	8.5%	30.7%	-0.0%	5.0%	-3.9K	-32.9K	-1.2K	4.16	125.32	41	169	37	357
2016-07-11	$57.39	$51.55	33.4%	6.9%	26.0%	15.1%	26.7%	0.2%	1.6%	-11.7K	-24.5K	-1.3K	4.16	105.95	41	169	37	379
2016-07-12	$57.68	$51.55	99.1%	10.9%	24.7%	77.6%	38.5%	-6.9%	0.5%	-19.7K	-6.3K	-1.2K	4.68	135.82	41	190	37	379
2016-07-13	$57.98	$51.55	31.1%	8.9%	24.6%	12.9%	34.9%	14.9%	7.4%	-12.6K	-14.8K	-1.4K	4.68	112.30	41	190	37	400
2016-07-14	$58.34	$51.55	23.8%	6.8%	24.6%	5.9%	33.2%	-0.7%	-0.6%	-21.1K	39.2K	-1.4K	4.68	111.14	41	190	37	400
2016-07-15	$57.74	$51.55	34.6%	9.9%	24.9%	16.2%	19.6%	-6.0%	2.1%	-15.4K	-13.2K	-1.4K	4.68	134.32	41	190	37	400
2016-07-18	$57.82	$51.55	23.8%	6.8%	24.9%	5.9%	41.5%	-1.9%	39.6%	-16.6K	110.1K	-1.3K	26.67	135.35	6	171	13	171
2016-07-19	$57.39	$51.55	23.0%	6.6%	25.2%	5.1%	32.7%	-0.0%	1.9%	-15.5K	144.7K	-1.5K	26.67	113.81	6	171	13	171
2016-07-20	$58.17	$51.55	38.3%	11.0%	25.4%	19.7%	74.8%	40.7%	-3.3%	-16.1K	87.6K	-1.1K	26.67	139.66	6	171	13	171
2016-07-21	$58.58	$51.55	39.5%	11.3%	25.4%	20.9%	46.3%	19.2%	-4.4%	-13.4K	145.1K	-1.5K	26.67	141.90	6	171	13	171
2016-07-22	$59.20	$51.55	24.0%	6.9%	25.2%	6.2%	32.0%	23.5%	9.8%	-14.9K	74.6K	-1.1K	26.67	134.74	6	171	13	171
2016-07-25	$58.85	$51.55	38.6%	11.1%	16.1%	20.0%	69.4%	9.4%	-16.3%	-14.3K	79.1K	-1.1K	26.67	126.32	6	171	13	171
2016-07-26	$58.59	$51.55	43.6%	12.5%	15.2%	24.8%	32.0%	5.2%	-26.6%	-13.8K	102.4K	-1.2K	26.67	142.34	6	171	13	171
2016-07-27	$58.90	$51.55	24.9%	7.1%	15.2%	6.9%	32.1%	9.5%	-5.1%	-14.0K	81.2K	-1.1K	26.67	116.80	6	171	13	171
2016-07-28	$59.26	$51.55	36.8%	10.5%	10.9%	18.3%	37.2%	10.3%	-14.4%	-12.1K	133.1K	-1.4K	26.67	129.06	6	171	13	171
2016-07-29	$58.91	$51.55	24.3%	7.0%	11.2%	6.4%	34.8%	29.6%	-5.6%	-13.3K	80.5K	-1.1K	26.67	136.91	6	171	13	171