LBRDA Options History — March 2018

In March 2018, LBRDA traded between $77.83 and $85.87. ATM implied volatility averaged 34.4%, placing in the 27.2% IV rank vs the trailing year. The 30-day expected move averaged 8.8%. IV traded above realized volatility by 6.9% (HV 20d: 27.5%). Max pain ranged from $89.03 to $93.72. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 7.41.

Notable Days

2018-03-12: Highest Volume — 131 contracts
2018-03-14: Largest IV drop — 52.2% change
2018-03-13: Highest IV Rank — 65.9%
2018-03-02: Largest Expected Move — 11.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$81.18	$77.83	$85.87	$81.59	$79.48
Max Pain	$93.27	$89.03	$93.72	$89.03	$93.72
ATM IV	34.4%	25.6%	59.2%	31.6%	29.3%
Expected Move	8.8%	7.3%	11.0%	9.1%	8.4%
HV 20d	27.5%	24.6%	31.1%	29.9%	25.9%
HV 60d	25.7%	24.3%	26.7%	25.2%	24.3%
IV Rank	27.2%	14.2%	65.9%	23.4%	18.7%
IV Percentile	60.9%	25.0%	99.2%	58.3%	41.7%
Term Structure	1.1%	-6.0%	7.6%	1.3%	-3.9%
VWIV	34.6%	26.4%	48.2%	48.2%	31.9%
Skew 25d	3.9%	-3.1%	19.1%	10.9%	9.9%
Skew 10d	5.5%	-5.3%	28.3%	28.3%	5.2%
Call IV 25d	34.5%	23.5%	47.5%	41.1%	25.1%
Put IV 25d	38.5%	29.0%	52.0%	52.0%	35.0%
Bid-Ask Spread %	115.24	85.36	134.78	134.78	129.47
Gamma HHI	0.28	0.22	0.33	0.28	0.25
Net GEX	-39.8K	-52.9K	-28.8K	-43.2K	-34.7K
Net DEX	516.3K	358.0K	628.8K	578.4K	539.6K
Net VEX	-2.0K	-2.3K	-1.6K	-2.3K	-2.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	7.41	2.09	10.09	10.09	2.09
Total Volume	118.048	91	131	130	115
Total OI	195.571	163	219	201	192

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
2018-03-01	$81.59	$89.03	31.6%	9.1%	29.9%	23.4%	48.2%	10.9%	1.3%	-43.2K	578.4K	-2.3K	10.09	134.78	12	118	7	194
2018-03-02	$80.39	$89.03	38.3%	11.0%	30.1%	33.7%	37.2%	0.4%	-4.4%	-45.5K	628.8K	-2.3K	10.09	133.43	12	118	7	194
2018-03-05	$82.85	$93.72	36.7%	8.4%	31.1%	31.3%	29.5%	-0.7%	4.3%	-43.5K	498.4K	-2.1K	10.09	94.30	12	118	7	194
2018-03-06	$81.99	$93.72	41.0%	8.9%	29.6%	37.9%	29.8%	-3.1%	0.5%	-42.5K	531.9K	-2.2K	10.09	85.36	12	118	7	194
2018-03-07	$81.72	$93.72	34.6%	10.2%	28.9%	28.1%	34.8%	1.8%	-6.0%	-52.9K	577.8K	-2.2K	10.09	92.81	12	118	7	210
2018-03-08	$82.15	$93.72	28.3%	7.7%	28.9%	18.4%	30.6%	-2.1%	7.5%	-50.2K	520.2K	-2.1K	10.09	107.91	12	118	7	210
2018-03-09	$83.04	$93.72	37.7%	8.9%	25.3%	32.8%	30.7%	0.9%	0.4%	-46.6K	474.6K	-2.0K	10.09	113.47	12	118	7	210
2018-03-12	$85.87	$93.72	55.3%	9.6%	27.5%	59.8%	32.7%	1.4%	0.2%	-38.3K	358.0K	-1.9K	9.25	106.43	13	118	7	210
2018-03-13	$83.69	$93.72	59.2%	7.3%	27.1%	65.9%	26.4%	3.5%	7.0%	-44.4K	431.1K	-1.9K	9.25	119.51	13	118	9	210
2018-03-14	$82.39	$93.72	28.3%	8.1%	27.6%	18.4%	29.7%	3.8%	0.8%	-48.8K	484.0K	-1.9K	9.25	116.75	13	118	9	210
2018-03-15	$81.76	$93.72	29.3%	8.4%	27.3%	19.9%	36.8%	3.8%	7.6%	-48.9K	580.6K	-1.9K	9.25	124.60	13	118	9	210
2018-03-16	$82.80	$93.72	25.6%	7.3%	27.0%	14.2%	30.3%	4.1%	0.4%	-33.8K	445.5K	-1.8K	9.17	123.14	13	117	9	210
2018-03-19	$81.36	$93.72	32.4%	9.3%	27.4%	24.7%	37.2%	15.0%	0.2%	-33.1K	481.5K	-1.8K	6.08	107.11	13	78	9	154
2018-03-20	$80.87	$93.72	32.0%	9.2%	27.2%	22.9%	31.5%	3.7%	0.7%	-34.4K	498.0K	-1.8K	6.08	102.80	13	78	9	154
2018-03-21	$80.88	$93.72	34.9%	10.0%	27.1%	27.3%	39.5%	2.2%	0.3%	-31.3K	486.3K	-1.8K	6.08	115.26	13	78	9	154
2018-03-22	$80.02	$93.72	29.3%	8.4%	26.6%	18.6%	35.9%	3.6%	1.3%	-35.3K	523.0K	-1.8K	6.08	107.24	13	78	9	154
2018-03-23	$78.15	$93.72	26.8%	7.7%	25.9%	14.7%	42.2%	4.1%	2.1%	-28.8K	523.3K	-1.8K	6.08	126.74	13	78	9	154
2018-03-26	$78.13	$93.72	27.3%	7.8%	26.0%	15.5%	29.5%	-1.2%	5.2%	-37.0K	619.5K	-1.6K	2.09	120.30	37	78	9	159
2018-03-27	$77.88	$93.72	33.4%	9.6%	25.6%	24.9%	44.2%	1.9%	-5.8%	-29.0K	538.4K	-2.2K	2.09	128.89	37	78	33	159
2018-03-28	$77.83	$93.72	30.9%	8.9%	24.6%	21.2%	37.6%	19.1%	3.5%	-33.5K	523.8K	-2.1K	2.09	129.78	37	78	33	159
2018-03-29	$79.48	$93.72	29.3%	8.4%	25.9%	18.7%	31.9%	9.9%	-3.9%	-34.7K	539.6K	-2.1K	2.09	129.47	37	78	33	159