LBRDA Options History — April 2018

In April 2018, LBRDA traded between $65.00 and $78.65. ATM implied volatility averaged 33.3%, placing in the 24.9% IV rank vs the trailing year. The 30-day expected move averaged 9.5%. IV traded above realized volatility by 7.6% (HV 20d: 25.7%). Max pain ranged from $79.66 to $93.72. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 3.07.

Notable Days

2018-04-30: Highest Volume — 186 contracts
2018-04-27: Largest IV spike — 81.6% change
2018-04-27: Highest IV Rank — 51.3%
2018-04-27: Largest Expected Move — 14.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$76.10	$65.00	$78.65	$77.23	$66.33
Max Pain	$83.18	$79.66	$93.72	$93.72	$79.66
ATM IV	33.3%	24.9%	50.2%	34.7%	40.0%
Expected Move	9.5%	7.1%	14.4%	10.0%	11.5%
HV 20d	25.7%	19.8%	59.1%	27.3%	59.1%
HV 60d	26.4%	24.7%	40.9%	24.8%	40.9%
IV Rank	24.9%	11.8%	51.3%	27.1%	35.4%
IV Percentile	57.8%	15.1%	97.2%	70.6%	87.3%
Term Structure	-2.0%	-16.6%	12.7%	4.3%	-9.3%
VWIV	35.7%	24.5%	70.4%	38.4%	52.9%
Skew 25d	0.3%	-19.7%	14.7%	14.7%	8.6%
Skew 10d	4.8%	-4.7%	31.5%	31.5%	10.8%
Call IV 25d	34.7%	22.9%	66.6%	29.2%	34.2%
Put IV 25d	34.9%	26.4%	49.7%	43.9%	42.7%
Bid-Ask Spread %	110.00	80.01	131.01	127.71	103.26
Gamma HHI	0.34	0.24	0.51	0.24	0.51
Net GEX	-36.0K	-56.6K	-11.4K	-30.8K	-23.1K
Net DEX	568.4K	182.2K	939.9K	552.1K	939.9K
Net VEX	-1.8K	-2.9K	-1.4K	-2.0K	-2.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.07	1.92	5.69	2.09	5.69
Total Volume	136.905	81	186	115	186
Total OI	192.048	108	219	192	217

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
2018-04-02	$77.23	$93.72	34.7%	10.0%	27.3%	27.1%	38.4%	14.7%	4.3%	-30.8K	552.1K	-2.0K	2.09	127.71	37	78	33	159
2018-04-03	$77.67	$93.72	27.5%	7.9%	24.8%	15.7%	29.3%	3.4%	2.4%	-34.8K	631.5K	-1.9K	2.09	117.37	37	78	33	159
2018-04-04	$77.94	$93.72	40.7%	11.7%	24.7%	36.4%	33.7%	-2.2%	-11.9%	-33.4K	586.5K	-1.9K	2.23	125.92	37	83	33	159
2018-04-05	$78.26	$0.00	32.7%	9.8%	24.8%	24.0%	0.0%	2.6%	-5.2%	-45.7K	646.3K	-2.0K	2.23	115.29	37	83	33	186
2018-04-06	$77.09	$0.00	35.9%	8.6%	25.1%	29.0%	0.0%	7.7%	12.7%	-39.3K	645.0K	-2.0K	2.23	93.89	37	83	33	180
2018-04-09	$77.89	$0.00	27.9%	9.2%	25.0%	16.4%	0.0%	3.7%	-2.0%	-51.8K	655.0K	-1.8K	2.23	80.01	37	83	33	180
2018-04-10	$77.41	$0.00	35.8%	8.2%	21.0%	28.8%	0.0%	1.1%	-0.2%	-46.3K	623.7K	-1.9K	2.23	107.05	37	83	33	180
2018-04-11	$76.11	$0.00	30.7%	8.8%	20.0%	20.8%	0.0%	-9.8%	5.0%	-40.0K	701.5K	-1.8K	2.23	131.01	37	83	33	180
2018-04-12	$76.44	$0.00	36.9%	10.6%	19.8%	30.5%	0.0%	-4.0%	-9.4%	-52.0K	731.3K	-1.7K	2.23	117.54	37	83	33	180
2018-04-13	$76.13	$0.00	33.3%	9.6%	19.8%	24.9%	0.0%	2.6%	-3.9%	-50.6K	640.6K	-1.7K	2.23	106.15	37	83	33	169
2018-04-16	$77.94	$0.00	34.4%	9.9%	21.3%	26.6%	0.0%	4.4%	-9.6%	-56.6K	543.2K	-1.5K	2.63	80.44	37	98	33	169
2018-04-17	$77.65	$0.00	30.2%	8.7%	20.6%	20.0%	33.4%	1.1%	-2.0%	-42.2K	446.9K	-1.5K	3.37	87.68	37	126	33	147
2018-04-18	$78.65	$79.66	26.1%	7.5%	21.2%	13.7%	25.0%	3.6%	-1.0%	-45.1K	494.4K	-1.5K	3.37	86.94	37	126	33	173
2018-04-19	$78.11	$79.66	35.4%	10.1%	21.3%	28.1%	35.4%	-14.2%	-1.9%	-48.7K	535.9K	-1.6K	3.37	108.71	37	126	33	173
2018-04-20	$77.24	$79.66	28.8%	8.3%	21.3%	17.9%	25.4%	4.3%	-0.6%	-14.6K	533.3K	-1.5K	3.31	124.31	37	124	33	173
2018-04-23	$77.50	$79.66	28.8%	8.3%	19.8%	17.8%	28.4%	2.7%	-5.8%	-14.4K	193.0K	-1.5K	1.92	111.56	28	53	28	80
2018-04-24	$75.60	$79.66	37.4%	10.7%	21.6%	31.3%	33.8%	-3.1%	2.1%	-11.4K	182.2K	-1.5K	1.92	118.93	28	53	28	80
2018-04-25	$75.90	$79.66	24.9%	7.1%	21.7%	11.8%	24.5%	-5.3%	8.0%	-15.2K	224.7K	-1.4K	5.62	127.84	28	156	28	80
2018-04-26	$76.06	$79.66	27.7%	7.9%	21.7%	16.0%	33.2%	3.4%	2.6%	-39.1K	605.6K	-2.9K	5.62	129.54	28	156	28	187
2018-04-27	$65.00	$79.66	50.2%	14.4%	58.5%	51.3%	70.4%	-19.7%	-16.6%	-21.4K	824.6K	-2.2K	5.62	108.85	28	156	28	187
2018-04-30	$66.33	$79.66	40.0%	11.5%	59.1%	35.4%	52.9%	8.6%	-9.3%	-23.1K	939.9K	-2.0K	5.69	103.26	28	158	28	189