LBRDA Options History — December 2017

In December 2017, LBRDA traded between $76.13 and $82.27. ATM implied volatility averaged 41.6%, placing in the 41.1% IV rank vs the trailing year. The 30-day expected move averaged 9.7%. IV traded above realized volatility by 17.8% (HV 20d: 23.8%). Max pain ranged from $84.35 to $93.72. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 1.26.

Notable Days

2017-12-29: Highest Volume — 404 contracts
2017-12-13: Largest IV drop — 60.9% change
2017-12-12: Highest IV Rank — 100.0%
2017-12-01: Largest Expected Move — 12.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$79.29	$76.13	$82.27	$82.27	$79.66
Max Pain	$93.25	$84.35	$93.72	$84.35	$93.72
ATM IV	41.6%	28.4%	81.4%	45.1%	32.1%
Expected Move	9.7%	8.1%	12.9%	12.9%	9.2%
HV 20d	23.8%	21.1%	26.7%	24.8%	26.3%
HV 60d	27.1%	26.2%	28.3%	26.7%	28.3%
IV Rank	41.1%	18.5%	100.0%	49.4%	24.2%
IV Percentile	82.9%	53.6%	100.0%	96.8%	71.0%
Term Structure	1.7%	-14.7%	10.2%	-14.7%	2.3%
VWIV	37.8%	32.7%	63.9%	63.9%	35.4%
Skew 25d	0.4%	-10.8%	10.9%	10.9%	0.6%
Skew 10d	-0.3%	-35.2%	21.6%	7.1%	-3.9%
Call IV 25d	41.7%	33.5%	56.2%	56.2%	37.0%
Put IV 25d	42.2%	32.9%	67.1%	67.1%	37.5%
Bid-Ask Spread %	108.25	92.91	133.31	133.31	107.81
Gamma HHI	0.22	0.19	0.30	0.20	0.25
Net GEX	-20.4K	-29.7K	-570	-24.1K	-9.5K
Net DEX	1.8M	1.3M	2.3M	1.3M	2.2M
Net VEX	-4.8K	-7.0K	-3.2K	-7.0K	-3.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.26	1.09	1.93	1.09	1.93
Total Volume	311.3	287	404	287	404
Total OI	691.15	647	727	677	722

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
2017-12-01	$82.27	$84.35	45.1%	12.9%	24.8%	49.4%	63.9%	10.9%	-14.7%	-24.1K	1.3M	-7.0K	1.09	133.31	138	149	277	400
2017-12-04	$82.13	$93.72	43.7%	9.7%	24.5%	47.1%	34.3%	-4.7%	5.3%	-28.6K	1.3M	-6.3K	1.09	93.75	138	149	277	405
2017-12-05	$81.06	$93.72	45.5%	9.9%	21.1%	50.1%	32.7%	-3.3%	1.0%	-29.7K	1.4M	-6.2K	1.09	99.48	138	149	277	405
2017-12-06	$78.81	$93.72	46.9%	10.7%	22.9%	52.6%	34.1%	-4.1%	0.4%	-23.8K	1.7M	-5.3K	1.09	95.27	138	149	277	405
2017-12-07	$79.21	$93.72	50.6%	10.0%	22.3%	58.9%	35.2%	-6.2%	0.5%	-28.9K	1.6M	-5.6K	1.09	101.90	138	149	277	405
2017-12-08	$78.43	$93.72	53.9%	8.8%	22.1%	64.6%	33.5%	6.3%	7.0%	-23.1K	1.9M	-4.5K	1.09	108.69	138	149	277	405
2017-12-11	$80.17	$93.72	71.2%	10.9%	23.7%	94.3%	33.6%	-8.2%	-2.0%	-27.7K	1.8M	-5.0K	1.09	109.07	138	149	277	405
2017-12-12	$79.44	$93.72	81.4%	8.1%	23.5%	100.0%	36.6%	2.6%	7.1%	-18.6K	2.0M	-4.0K	1.09	111.50	138	149	277	405
2017-12-13	$79.31	$93.72	31.8%	9.1%	22.4%	23.7%	35.7%	-2.7%	3.3%	-27.3K	1.7M	-4.8K	1.09	115.17	138	149	277	405
2017-12-14	$79.14	$93.72	35.4%	10.2%	22.3%	29.3%	33.5%	7.6%	-3.2%	-26.9K	1.8M	-4.5K	1.09	109.68	138	149	277	405
2017-12-15	$78.20	$93.72	30.5%	8.7%	22.1%	21.7%	38.3%	1.5%	3.5%	-11.0K	1.9M	-4.0K	1.18	111.83	138	162	277	405
2017-12-18	$78.82	$93.72	32.3%	9.3%	21.4%	24.5%	36.8%	8.6%	0.5%	-570	2.0M	-3.2K	1.09	116.17	138	150	277	370
2017-12-19	$77.08	$93.72	28.4%	8.1%	22.3%	18.5%	40.8%	-4.3%	9.1%	-7.6K	2.1M	-3.6K	1.25	106.89	138	172	277	392
2017-12-20	$76.13	$93.72	38.0%	10.9%	22.5%	33.3%	41.6%	10.3%	2.6%	-11.2K	2.3M	-3.2K	1.28	115.72	138	176	277	413
2017-12-21	$78.99	$93.72	36.2%	10.4%	26.7%	30.5%	36.8%	4.1%	-0.2%	-20.0K	2.0M	-4.6K	1.44	115.56	138	198	277	428
2017-12-22	$79.65	$93.72	34.0%	9.7%	26.7%	27.1%	36.4%	-3.2%	1.9%	-23.8K	2.0M	-5.4K	1.55	92.91	138	213	277	450
2017-12-26	$79.61	$93.72	32.3%	9.3%	25.6%	24.5%	37.7%	-10.8%	10.2%	-23.9K	1.9M	-4.9K	1.55	106.06	138	213	277	445
2017-12-27	$78.14	$93.72	31.3%	9.0%	25.9%	22.9%	39.0%	-2.0%	-1.5%	-19.0K	2.1M	-4.3K	1.55	103.02	138	213	277	445
2017-12-28	$79.65	$93.72	32.0%	9.2%	26.6%	24.1%	39.3%	6.1%	1.5%	-23.4K	1.9M	-4.7K	1.55	111.27	138	213	277	445
2017-12-29	$79.66	$93.72	32.1%	9.2%	26.3%	24.2%	35.4%	0.6%	2.3%	-9.5K	2.2M	-3.9K	1.93	107.81	138	266	277	445