LBRDA Options History — April 2017

In April 2017, LBRDA traded between $80.32 and $84.56. ATM implied volatility averaged 24.5%, placing in the 12.4% IV rank vs the trailing year. The 30-day expected move averaged 7.0%. IV traded above realized volatility by 14.2% (HV 20d: 10.4%). Max pain ranged from $70.29 to $79.66. Net GEX was positive for 1 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 4.10.

Notable Days

2017-04-19: Highest Volume — 164 contracts
2017-04-27: Largest IV spike — 35.3% change
2017-04-28: Highest IV Rank — 21.3%
2017-04-28: Largest Expected Move — 9.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$81.90	$80.32	$84.56	$80.32	$84.11
Max Pain	$78.18	$70.29	$79.66	$70.29	$79.66
ATM IV	24.5%	18.3%	32.1%	19.7%	32.1%
Expected Move	7.0%	5.2%	9.2%	5.7%	9.2%
HV 20d	10.4%	8.4%	11.0%	8.4%	10.9%
HV 60d	17.2%	9.5%	20.2%	20.0%	9.7%
IV Rank	12.4%	5.1%	21.3%	6.9%	21.3%
IV Percentile	28.9%	2.8%	67.9%	6.7%	67.9%
Term Structure	-1.1%	-10.3%	16.6%	4.0%	-3.0%
VWIV	31.6%	18.4%	61.6%	21.0%	61.6%
Skew 25d	2.6%	-17.2%	18.6%	3.6%	8.6%
Skew 10d	4.9%	-22.1%	30.7%	4.7%	15.9%
Call IV 25d	27.3%	16.3%	49.6%	16.3%	49.6%
Put IV 25d	29.9%	18.8%	58.1%	19.9%	58.1%
Bid-Ask Spread %	106.87	74.81	136.74	115.03	128.51
Gamma HHI	0.40	0.25	0.60	0.28	0.29
Net GEX	-3.2K	-8.7K	615	-53	-3.0K
Net DEX	-199.0K	-276.3K	-66.0K	-259.1K	-66.0K
Net VEX	-727	-934	-436	-470	-921
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	4.10	2.41	5.23	4.32	2.41
Total Volume	137.053	105	164	124	106
Total OI	193.368	117	224	182	122

Daily Data (19 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
2017-04-03	$80.32	$70.29	19.7%	5.7%	8.4%	6.9%	21.0%	3.6%	4.0%	-53	-259.1K	-470	4.32	115.03	23	101	43	139
2017-04-04	$81.68	$70.29	18.3%	5.2%	10.0%	5.1%	18.4%	-1.2%	4.4%	-1.3K	-276.3K	-436	5.23	114.98	23	123	43	160
2017-04-05	$81.35	$70.29	24.6%	7.1%	10.1%	12.5%	39.4%	3.0%	-9.1%	-2.4K	-254.0K	-693	5.23	128.37	23	123	43	181
2017-04-06	$81.64	$79.66	21.6%	6.4%	10.1%	9.1%	22.2%	0.0%	1.1%	-3.8K	-246.8K	-746	5.23	80.03	23	123	43	181
2017-04-07	$81.16	$79.66	27.6%	6.7%	10.4%	16.0%	49.5%	5.5%	4.6%	-5.1K	-217.9K	-892	5.23	122.94	23	123	43	181
2017-04-10	$81.25	$79.66	20.3%	6.9%	10.3%	7.5%	23.0%	2.2%	-1.1%	-3.5K	-242.2K	-740	5.23	74.81	23	123	43	181
2017-04-11	$81.05	$79.66	23.8%	6.4%	10.3%	11.6%	22.0%	0.1%	0.8%	-3.2K	-241.0K	-731	5.23	95.41	23	123	43	181
2017-04-12	$81.32	$79.66	25.2%	7.2%	10.2%	13.2%	21.3%	0.6%	-4.3%	-4.1K	-242.7K	-725	5.23	88.65	23	123	43	181
2017-04-13	$80.33	$79.66	23.4%	6.7%	11.0%	11.1%	39.0%	16.5%	1.3%	-8.7K	-190.2K	-934	5.23	101.41	23	123	43	181
2017-04-17	$80.34	$79.66	24.1%	6.9%	11.0%	12.0%	23.5%	2.4%	-0.4%	-4.8K	-227.6K	-706	5.23	89.42	23	123	43	181
2017-04-18	$80.33	$79.66	24.5%	7.0%	10.9%	12.5%	24.2%	1.5%	-1.4%	-6.7K	-223.1K	-694	5.23	83.58	23	123	43	181
2017-04-19	$81.27	$79.66	26.3%	7.5%	10.2%	14.5%	27.0%	1.5%	-3.8%	-3.7K	-241.1K	-695	3.03	102.97	41	123	43	181
2017-04-20	$82.11	$79.66	30.6%	8.8%	10.6%	19.5%	25.5%	-17.2%	-8.4%	-4.4K	-224.6K	-777	3.03	106.76	41	123	43	181
2017-04-21	$82.30	$79.66	22.8%	6.5%	10.5%	10.4%	31.4%	-7.8%	-7.5%	-1.3K	-254.8K	-714	3.03	108.86	41	123	43	181
2017-04-24	$83.15	$79.66	21.7%	6.2%	10.7%	9.2%	22.3%	2.8%	16.6%	-991	-85.1K	-699	2.50	108.48	30	75	20	97
2017-04-25	$83.86	$79.66	26.4%	7.6%	10.5%	14.6%	47.3%	18.6%	-10.3%	-2.7K	-88.3K	-787	2.50	130.56	30	75	23	97
2017-04-26	$84.00	$79.66	22.4%	6.4%	10.5%	10.0%	23.8%	1.5%	-0.6%	615	-112.3K	-666	2.41	113.09	31	75	23	97
2017-04-27	$84.56	$79.66	30.4%	8.7%	10.6%	19.2%	58.5%	7.4%	-4.0%	-1.9K	-88.6K	-779	2.41	136.74	31	75	25	97
2017-04-28	$84.11	$79.66	32.1%	9.2%	10.9%	21.3%	61.6%	8.6%	-3.0%	-3.0K	-66.0K	-921	2.41	128.51	31	75	25	97