LBRDA Options History — September 2018

In September 2018, LBRDA traded between $74.68 and $79.79. ATM implied volatility averaged 27.5%, placing in the 15.8% IV rank vs the trailing year. The 30-day expected move averaged 7.6%. IV traded above realized volatility by 5.6% (HV 20d: 21.9%). Max pain ranged from $70.29 to $74.98. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 12 of 19 days. Put/call ratio averaged 3.29.

Notable Days

2018-09-04: Highest Volume — 112 contracts
2018-09-28: Largest IV spike — 43.1% change
2018-09-06: Highest IV Rank — 31.6%
2018-09-04: Largest Expected Move — 9.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$77.47	$74.68	$79.79	$76.25	$78.96
Max Pain	$74.48	$70.29	$74.98	$70.29	$74.98
ATM IV	27.5%	19.4%	37.6%	34.7%	27.8%
Expected Move	7.6%	5.6%	9.9%	9.9%	8.0%
HV 20d	21.9%	16.6%	26.6%	26.0%	16.9%
HV 60d	24.2%	23.8%	24.5%	24.5%	23.8%
IV Rank	15.8%	3.1%	31.6%	27.0%	16.2%
IV Percentile	24.2%	1.6%	77.8%	62.3%	22.6%
Term Structure	1.6%	-9.4%	11.0%	-6.8%	3.0%
VWIV	34.0%	25.9%	45.8%	39.9%	40.8%
Skew 25d	2.9%	-18.1%	21.3%	2.7%	21.3%
Skew 10d	0.9%	-22.8%	16.1%	-6.9%	7.0%
Call IV 25d	30.6%	19.8%	56.2%	41.1%	21.4%
Put IV 25d	33.6%	25.0%	46.8%	43.8%	42.7%
Bid-Ask Spread %	119.02	85.54	141.49	141.49	107.14
Gamma HHI	0.27	0.17	0.45	0.38	0.19
Net GEX	-6.2K	-10.8K	-1.1K	-8.5K	-5.2K
Net DEX	-13.5K	-86.1K	62.8K	19.8K	-41.3K
Net VEX	-1.0K	-1.4K	-784	-1.3K	-784
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.29	1.84	3.87	1.84	3.87
Total Volume	93.053	78	112	112	78
Total OI	153.053	142	157	157	142

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
2018-09-04	$76.25	$70.29	34.7%	9.9%	26.0%	27.0%	39.9%	2.7%	-6.8%	-8.5K	19.8K	-1.3K	1.84	141.49	39	73	50	107
2018-09-05	$75.65	$70.29	26.5%	7.6%	26.2%	14.2%	28.6%	4.8%	7.0%	-6.5K	25.6K	-1.3K	1.84	139.69	39	73	50	107
2018-09-06	$74.70	$74.98	37.6%	6.9%	26.6%	31.6%	38.7%	-10.5%	11.0%	-7.5K	45.9K	-1.4K	1.84	120.29	39	73	50	107
2018-09-07	$74.68	$74.98	34.2%	8.1%	25.2%	26.2%	30.4%	-3.6%	4.4%	-10.8K	62.8K	-1.3K	1.84	122.34	39	73	50	107
2018-09-10	$75.46	$74.98	24.4%	7.3%	25.0%	11.0%	25.9%	-5.2%	3.1%	-10.6K	42.3K	-1.2K	3.58	106.94	20	73	50	107
2018-09-11	$76.37	$74.98	25.5%	7.7%	25.3%	12.6%	27.2%	0.7%	0.9%	-7.3K	1.8K	-1.1K	3.58	85.54	20	73	50	107
2018-09-12	$76.15	$74.98	34.1%	9.8%	25.0%	26.0%	33.7%	1.5%	-5.4%	-6.5K	22.5K	-1.1K	3.58	109.95	20	73	50	107
2018-09-13	$77.33	$74.98	23.6%	6.8%	22.4%	9.6%	28.5%	4.8%	4.6%	-7.2K	-17.1K	-1.0K	3.58	113.32	20	73	50	107
2018-09-14	$77.57	$74.98	29.6%	8.5%	21.5%	19.1%	36.1%	13.4%	-9.4%	-5.0K	-20.2K	-1.0K	3.58	123.91	20	73	50	107
2018-09-17	$76.94	$74.98	28.3%	8.1%	21.8%	17.1%	39.3%	-18.1%	3.1%	-2.2K	-25.4K	-1.2K	3.58	127.96	20	73	50	107
2018-09-18	$79.48	$74.98	29.8%	8.5%	24.0%	19.4%	34.0%	15.7%	-0.0%	-5.2K	-54.6K	-911	3.58	109.77	20	73	50	107
2018-09-19	$79.46	$74.98	25.5%	7.3%	22.2%	12.6%	39.3%	3.1%	-0.7%	-5.6K	-56.2K	-908	3.58	126.40	20	73	50	107
2018-09-20	$79.60	$74.98	25.4%	7.3%	21.7%	12.5%	45.8%	4.6%	3.6%	-1.1K	-70.4K	-1.1K	3.58	129.31	20	73	50	107
2018-09-21	$79.79	$74.98	26.9%	7.7%	16.6%	14.9%	32.3%	5.5%	0.6%	-3.9K	-86.1K	-820	3.58	115.66	20	73	50	107
2018-09-24	$78.43	$74.98	21.9%	6.3%	17.6%	7.0%	30.4%	5.1%	-0.8%	-6.5K	-21.2K	-892	3.87	117.08	16	62	46	96
2018-09-25	$78.14	$74.98	22.2%	6.4%	17.5%	7.5%	28.0%	-8.4%	5.7%	-6.1K	-30.7K	-806	3.87	121.27	16	62	46	96
2018-09-26	$78.32	$74.98	25.9%	7.4%	17.5%	13.2%	40.2%	17.8%	-2.8%	-5.3K	-24.4K	-903	3.87	120.23	16	62	46	96
2018-09-27	$78.58	$74.98	19.4%	5.6%	17.0%	3.1%	26.3%	0.7%	8.4%	-6.4K	-29.7K	-830	3.87	123.14	16	62	46	96
2018-09-28	$78.96	$74.98	27.8%	8.0%	16.9%	16.2%	40.8%	21.3%	3.0%	-5.2K	-41.3K	-784	3.87	107.14	16	62	46	96