LBRDA Options History — December 2016

In December 2016, LBRDA traded between $63.23 and $68.62. ATM implied volatility averaged 34.8%, placing in the 19.3% IV rank vs the trailing year. The 30-day expected move averaged 8.0%. IV traded above realized volatility by 11.8% (HV 20d: 23.1%). Max pain ranged from $60.92 to $65.60. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 3.25.

Notable Days

2016-12-27: Highest Volume — 128 contracts
2016-12-02: Largest IV spike — 153.2% change
2016-12-13: Highest IV Rank — 55.7%
2016-12-02: Largest Expected Move — 18.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$67.13	$63.23	$68.62	$64.25	$67.66
Max Pain	$65.16	$60.92	$65.60	$60.92	$65.60
ATM IV	34.8%	21.2%	74.5%	25.3%	26.4%
Expected Move	8.0%	5.8%	18.4%	7.3%	7.6%
HV 20d	23.1%	21.3%	24.5%	23.1%	21.4%
HV 60d	21.9%	21.0%	22.7%	21.2%	22.1%
IV Rank	19.3%	6.7%	55.7%	10.5%	11.5%
IV Percentile	44.2%	6.7%	97.6%	22.6%	28.2%
Term Structure	-0.8%	-29.0%	25.0%	-2.9%	-7.0%
VWIV	33.1%	21.4%	59.8%	40.1%	39.5%
Skew 25d	3.3%	-9.8%	18.2%	9.3%	2.1%
Skew 10d	14.6%	0.4%	50.6%	31.9%	27.6%
Call IV 25d	27.9%	19.0%	41.6%	24.6%	29.8%
Put IV 25d	31.2%	22.8%	46.5%	33.9%	31.9%
Bid-Ask Spread %	117.10	91.63	131.31	130.17	124.35
Gamma HHI	0.42	0.30	0.52	0.52	0.36
Net GEX	-8.1K	-11.2K	-3.0K	-11.2K	-7.2K
Net DEX	23.6K	-41.9K	129.3K	86.5K	41.6K
Net VEX	-1.7K	-2.0K	-1.4K	-1.4K	-1.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.25	1.88	4.75	3.06	2.72
Total Volume	109.524	78	128	78	100
Total OI	179.286	144	205	144	205

Daily Data (21 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
2016-12-01	$64.25	$60.92	25.3%	7.3%	23.1%	10.5%	40.1%	9.3%	-2.9%	-11.2K	86.5K	-1.4K	3.06	130.17	19	59	27	117
2016-12-02	$63.23	$60.92	64.1%	18.4%	21.7%	46.1%	59.8%	11.2%	-29.0%	-11.1K	129.3K	-1.5K	2.39	121.44	25	59	27	117
2016-12-05	$64.55	$65.60	36.4%	6.9%	22.1%	20.7%	25.4%	-0.7%	1.6%	-10.9K	80.3K	-1.4K	2.39	94.04	25	59	32	117
2016-12-06	$65.68	$65.60	31.3%	6.8%	21.7%	16.0%	30.1%	1.5%	2.0%	-8.6K	60.3K	-1.4K	1.88	101.76	34	64	32	117
2016-12-07	$67.88	$65.60	39.4%	7.2%	23.1%	23.5%	27.8%	-0.3%	1.6%	-5.7K	-41.9K	-1.4K	1.88	94.87	34	64	39	123
2016-12-08	$66.64	$65.60	68.6%	8.4%	23.4%	50.3%	36.5%	18.2%	3.7%	-8.8K	4.5K	-1.6K	1.88	116.84	34	64	39	123
2016-12-09	$66.03	$65.60	34.3%	5.8%	23.7%	18.8%	25.0%	0.9%	6.9%	-6.5K	-8.0K	-1.5K	1.88	116.34	34	64	39	123
2016-12-12	$65.75	$65.60	36.9%	8.6%	23.8%	21.1%	32.9%	-9.0%	-1.0%	-6.3K	-13.1K	-1.4K	2.19	116.91	34	75	39	123
2016-12-13	$67.13	$65.60	74.5%	6.1%	24.0%	55.7%	23.9%	0.3%	3.7%	-8.2K	8.5K	-1.6K	2.19	117.81	34	75	39	134
2016-12-14	$68.18	$65.60	25.1%	7.2%	24.2%	10.4%	33.1%	6.3%	3.3%	-7.0K	-35.1K	-1.5K	3.91	127.26	25	96	39	134
2016-12-15	$68.32	$65.60	30.9%	8.9%	24.1%	15.7%	50.3%	10.5%	-9.3%	-8.1K	41.3K	-2.0K	3.75	126.65	26	96	41	156
2016-12-16	$67.64	$65.60	21.2%	6.1%	24.5%	6.7%	21.4%	2.0%	7.2%	-7.9K	-16.0K	-1.8K	3.75	106.35	26	96	43	156
2016-12-19	$67.81	$65.60	28.8%	8.3%	24.4%	13.7%	32.3%	5.3%	25.0%	-9.2K	44.6K	-1.9K	4.50	106.07	21	96	38	156
2016-12-20	$68.24	$65.60	21.2%	6.1%	24.4%	6.8%	26.2%	3.6%	3.8%	-8.1K	13.9K	-1.8K	4.50	91.63	21	96	38	156
2016-12-21	$68.42	$65.60	34.4%	9.9%	23.5%	18.9%	31.4%	-9.8%	-13.5%	-9.1K	26.2K	-1.8K	4.50	127.86	21	96	38	156
2016-12-22	$68.44	$65.60	32.9%	9.4%	23.2%	17.5%	44.3%	5.9%	-14.9%	-9.3K	49.0K	-1.9K	4.75	130.78	21	101	38	156
2016-12-23	$68.24	$65.60	25.7%	7.4%	23.1%	10.9%	30.0%	1.7%	-1.6%	-8.5K	37.6K	-1.9K	4.75	126.72	21	101	38	161
2016-12-27	$68.57	$65.60	26.2%	7.5%	22.5%	11.3%	30.3%	3.8%	-1.3%	-7.8K	-2.5K	-1.7K	3.80	124.53	27	101	38	161
2016-12-28	$68.36	$65.60	25.4%	7.3%	21.7%	10.6%	29.7%	2.4%	-1.3%	-7.0K	1.9K	-1.8K	3.80	125.39	27	101	44	161
2016-12-29	$68.62	$65.60	23.0%	6.6%	21.3%	8.4%	25.8%	4.2%	6.6%	-3.0K	-14.3K	-1.7K	3.80	131.31	27	101	44	161
2016-12-30	$67.66	$65.60	26.4%	7.6%	21.4%	11.5%	39.5%	2.1%	-7.0%	-7.2K	41.6K	-1.9K	2.72	124.35	27	73	44	161