LBRDA Options History — November 2018

In November 2018, LBRDA traded between $72.75 and $79.76. ATM implied volatility averaged 33.1%, placing in the 24.5% IV rank vs the trailing year. The 30-day expected move averaged 8.8%. IV traded below realized volatility by 5.3% (HV 20d: 38.4%). Max pain ranged from $70.29 to $79.66. Net GEX was positive for 12 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 2.01.

Notable Days

2018-11-16: Highest Volume — 60 contracts
2018-11-13: Largest IV spike — 57.0% change
2018-11-13: Highest IV Rank — 54.9%
2018-11-02: Largest Expected Move — 12.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$77.09	$72.75	$79.76	$78.58	$79.74
Max Pain	$78.56	$70.29	$79.66	$70.29	$79.66
ATM IV	33.1%	25.6%	52.6%	34.0%	30.7%
Expected Move	8.8%	6.9%	12.5%	9.7%	8.8%
HV 20d	38.4%	32.0%	43.9%	40.0%	32.0%
HV 60d	29.3%	27.6%	31.0%	29.2%	30.9%
IV Rank	24.5%	12.8%	54.9%	25.9%	20.8%
IV Percentile	50.9%	14.7%	97.6%	59.5%	43.7%
Term Structure	-2.6%	-10.4%	3.5%	-9.0%	-1.8%
VWIV	30.6%	24.1%	39.6%	39.6%	30.5%
Skew 25d	1.9%	-2.8%	7.2%	-0.2%	6.5%
Skew 10d	4.8%	-8.4%	12.9%	8.2%	8.0%
Call IV 25d	29.9%	23.7%	39.9%	34.7%	23.7%
Put IV 25d	31.9%	26.4%	40.7%	34.5%	30.3%
Bid-Ask Spread %	93.22	58.02	125.61	125.61	101.39
Gamma HHI	0.22	0.19	0.26	0.22	0.26
Net GEX	1.4K	-2.1K	4.9K	-1.7K	4.5K
Net DEX	-61.1K	-125.5K	-5.8K	-38.1K	-123.4K
Net VEX	-708	-842	-545	-773	-570
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.01	1.24	3.10	3.10	1.71
Total Volume	49.238	44	60	44	49
Total OI	102.333	95	106	95	105

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
2018-11-01	$78.58	$70.29	34.0%	9.7%	40.0%	25.9%	39.6%	-0.2%	-9.0%	-1.7K	-38.1K	-773	3.10	125.61	11	33	21	74
2018-11-02	$76.86	$70.29	43.7%	12.5%	40.3%	41.1%	35.1%	1.3%	-10.1%	-2.1K	-26.9K	-794	3.10	118.68	11	33	22	74
2018-11-05	$77.99	$0.00	40.4%	8.9%	40.5%	35.9%	0.0%	0.8%	-1.2%	-903	-50.2K	-701	3.10	58.02	11	33	22	74
2018-11-06	$77.51	$0.00	27.4%	8.6%	40.5%	15.6%	0.0%	4.2%	-1.7%	-1.0K	-44.1K	-717	3.10	64.39	11	33	22	74
2018-11-07	$78.87	$0.00	33.7%	8.5%	39.2%	25.5%	0.0%	1.0%	-1.8%	-327	-61.3K	-677	2.82	82.10	12	33	22	74
2018-11-08	$77.69	$0.00	32.4%	6.9%	39.0%	23.5%	24.2%	7.2%	0.1%	-363	-52.0K	-765	1.72	89.93	19	33	25	74
2018-11-09	$77.11	$79.66	30.3%	9.2%	39.0%	20.1%	28.5%	1.0%	-4.6%	3.5K	-66.9K	-728	1.72	75.98	19	33	32	74
2018-11-12	$77.35	$79.66	33.5%	8.8%	38.0%	25.1%	30.5%	-2.8%	-1.7%	3.6K	-65.3K	-733	1.72	93.89	19	33	32	74
2018-11-13	$77.56	$79.66	52.6%	7.7%	37.3%	54.9%	26.1%	1.6%	0.4%	3.7K	-77.1K	-705	1.72	89.76	19	33	32	74
2018-11-14	$77.55	$79.66	31.7%	9.1%	37.2%	22.3%	33.5%	0.9%	0.1%	1.9K	-54.5K	-840	1.72	85.54	19	33	32	74
2018-11-15	$76.68	$79.66	28.3%	8.1%	37.4%	17.0%	32.7%	-1.2%	2.7%	2.8K	-61.1K	-681	1.72	101.73	19	33	32	74
2018-11-16	$79.04	$79.66	30.3%	8.7%	38.9%	20.1%	31.1%	6.4%	-2.5%	-48	-72.6K	-659	1.24	87.03	27	33	32	74
2018-11-19	$76.71	$79.66	27.5%	7.9%	40.3%	15.7%	27.7%	0.1%	3.5%	2.6K	-78.3K	-732	1.71	83.54	18	31	31	71
2018-11-20	$72.92	$79.66	36.5%	10.5%	43.9%	29.8%	34.6%	0.3%	0.9%	-676	-5.8K	-842	1.71	114.49	18	31	31	71
2018-11-21	$72.75	$79.66	32.6%	9.4%	42.8%	23.8%	29.2%	-0.3%	-0.7%	-523	-7.7K	-781	1.71	88.44	18	31	31	71
2018-11-23	$73.91	$79.66	30.7%	8.8%	42.3%	20.7%	27.7%	3.6%	-2.6%	259	-17.9K	-761	1.71	88.29	18	31	31	73
2018-11-26	$75.13	$79.66	30.6%	8.8%	36.1%	20.7%	31.2%	2.1%	-7.6%	2.4K	-52.3K	-648	1.71	91.14	18	31	31	74
2018-11-27	$76.36	$79.66	25.6%	7.3%	36.4%	12.8%	24.1%	2.2%	-3.2%	3.9K	-75.7K	-611	1.71	115.96	18	31	31	74
2018-11-28	$78.74	$79.66	30.8%	8.8%	33.1%	21.0%	31.1%	2.2%	-10.4%	4.9K	-125.3K	-545	1.71	94.01	18	31	31	74
2018-11-29	$79.76	$79.66	31.4%	9.0%	32.1%	21.8%	32.5%	3.5%	-3.2%	3.8K	-125.5K	-596	1.71	107.67	18	31	31	74
2018-11-30	$79.74	$79.66	30.7%	8.8%	32.0%	20.8%	30.5%	6.5%	-1.8%	4.5K	-123.4K	-570	1.71	101.39	18	31	31	74