LBRDA Options History — February 2018

In February 2018, LBRDA traded between $80.79 and $90.05. ATM implied volatility averaged 33.2%, placing in the 26.0% IV rank vs the trailing year. The 30-day expected move averaged 9.1%. IV traded above realized volatility by 8.2% (HV 20d: 25.0%). Max pain ranged from $74.98 to $89.03. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 8.13.

Notable Days

2018-02-28: Highest Volume — 130 contracts
2018-02-07: Largest IV drop — 25.6% change
2018-02-06: Highest IV Rank — 41.6%
2018-02-09: Largest Expected Move — 10.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$84.86	$80.79	$90.05	$88.02	$82.01
Max Pain	$80.16	$74.98	$89.03	$74.98	$89.03
ATM IV	33.2%	28.3%	43.4%	37.2%	32.3%
Expected Move	9.1%	8.1%	10.2%	9.4%	9.3%
HV 20d	25.0%	13.8%	30.0%	13.8%	30.0%
HV 60d	24.5%	22.2%	25.7%	22.9%	25.7%
IV Rank	26.0%	18.4%	41.6%	32.0%	24.6%
IV Percentile	64.9%	43.7%	96.0%	84.1%	64.3%
Term Structure	-0.2%	-7.9%	4.2%	-3.0%	1.8%
VWIV	39.0%	27.2%	63.0%	47.2%	32.4%
Skew 25d	4.4%	-1.9%	13.1%	10.9%	0.2%
Skew 10d	3.8%	-6.1%	19.9%	19.9%	-6.1%
Call IV 25d	32.8%	21.8%	46.3%	27.3%	33.0%
Put IV 25d	37.1%	29.8%	48.6%	38.2%	33.3%
Bid-Ask Spread %	120.77	94.74	135.11	108.63	126.56
Gamma HHI	0.22	0.19	0.24	0.20	0.24
Net GEX	-27.5K	-36.2K	-18.5K	-20.9K	-36.2K
Net DEX	353.9K	208.1K	489.0K	269.0K	489.0K
Net VEX	-2.0K	-2.2K	-1.7K	-2.0K	-2.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	8.13	6.43	11.22	7.29	10.09
Total Volume	117.684	111	130	124	130
Total OI	176.474	161	185	171	185

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
2018-02-01	$88.02	$74.98	37.2%	9.4%	13.8%	32.0%	47.2%	10.9%	-3.0%	-20.9K	269.0K	-2.0K	7.29	108.63	15	109	11	160
2018-02-02	$90.05	$74.98	36.2%	8.3%	14.6%	30.5%	38.2%	-0.8%	-0.6%	-18.5K	208.1K	-1.8K	7.00	126.04	15	105	11	160
2018-02-05	$87.30	$74.98	43.0%	9.7%	19.2%	41.0%	46.7%	-0.4%	1.2%	-18.9K	269.5K	-1.9K	7.00	122.17	15	105	11	159
2018-02-06	$85.59	$74.98	43.4%	9.9%	20.5%	41.6%	63.0%	2.4%	3.4%	-25.1K	309.4K	-1.9K	7.43	105.01	15	111	11	159
2018-02-07	$84.79	$74.98	32.3%	9.3%	20.7%	24.5%	40.4%	-0.1%	0.0%	-22.3K	332.7K	-2.1K	7.43	124.21	15	111	11	165
2018-02-08	$81.42	$74.98	32.8%	9.4%	25.3%	25.3%	39.5%	0.8%	1.0%	-25.6K	427.0K	-2.2K	6.43	126.72	15	96	11	165
2018-02-09	$80.79	$74.98	35.5%	10.2%	24.8%	29.4%	38.6%	1.6%	1.6%	-26.3K	457.0K	-2.1K	6.43	125.52	15	96	11	165
2018-02-12	$83.42	$74.98	33.1%	9.5%	27.6%	25.8%	27.2%	13.1%	-5.1%	-29.1K	397.6K	-2.0K	6.43	118.94	15	96	11	165
2018-02-13	$83.23	$74.98	31.3%	9.0%	27.5%	23.0%	32.6%	2.9%	-0.5%	-25.0K	381.9K	-2.0K	6.43	94.74	15	96	11	165
2018-02-14	$84.29	$74.98	29.7%	8.5%	27.3%	20.5%	40.9%	3.8%	-0.6%	-26.3K	359.1K	-1.9K	6.43	120.47	15	96	11	165
2018-02-15	$85.66	$74.98	30.3%	8.7%	27.4%	21.5%	0.0%	10.1%	4.2%	-30.0K	301.4K	-1.7K	6.43	111.93	15	96	11	165
2018-02-16	$86.21	$74.98	28.3%	8.1%	27.3%	18.4%	42.0%	8.8%	3.5%	-27.6K	261.1K	-1.7K	6.50	128.91	15	97	11	165
2018-02-20	$85.12	$89.03	32.4%	9.3%	27.4%	24.6%	34.8%	5.5%	1.2%	-26.2K	333.9K	-1.8K	11.22	117.19	10	108	5	156
2018-02-21	$85.46	$89.03	29.5%	8.5%	27.5%	20.3%	32.0%	4.1%	-0.4%	-29.9K	354.8K	-2.1K	11.22	120.25	10	108	5	178
2018-02-22	$83.90	$89.03	30.2%	8.6%	27.6%	21.2%	35.9%	11.5%	-2.7%	-32.8K	420.6K	-2.1K	11.22	123.94	10	108	5	178
2018-02-23	$85.81	$89.03	30.3%	8.7%	29.0%	21.4%	33.2%	5.8%	-1.8%	-33.5K	367.5K	-2.0K	11.22	131.87	10	108	5	178
2018-02-26	$85.31	$89.03	31.9%	9.2%	29.0%	23.9%	46.4%	4.8%	-7.9%	-34.9K	366.6K	-2.0K	9.18	126.45	12	108	5	178
2018-02-27	$83.91	$89.03	31.7%	9.1%	29.3%	23.6%	31.1%	-1.9%	0.2%	-33.9K	417.5K	-2.1K	9.18	135.11	12	108	7	178
2018-02-28	$82.01	$89.03	32.3%	9.3%	30.0%	24.6%	32.4%	0.2%	1.8%	-36.2K	489.0K	-2.2K	10.09	126.56	12	118	7	178