LBRDA Options History — March 2019

In March 2019, LBRDA traded between $82.37 and $88.32. ATM implied volatility averaged 29.0%, placing in the 26.8% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded above realized volatility by 15.7% (HV 20d: 13.3%). Max pain ranged from $65.60 to $74.98. Net GEX was positive for 16 of 21 trading days. Term structure was in contango for 20 of 21 days. Put/call ratio averaged 2.67.

Notable Days

2019-03-01: Highest Volume — 18 contracts
2019-03-07: Largest IV spike — 106.9% change
2019-03-11: Highest IV Rank — 100.0%
2019-03-07: Largest Expected Move — 13.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$85.64	$82.37	$88.32	$84.16	$85.93
Max Pain	$70.72	$65.60	$74.98	$74.98	$65.60
ATM IV	29.0%	19.9%	60.5%	24.6%	29.1%
Expected Move	8.7%	6.4%	13.2%	7.1%	7.9%
HV 20d	13.3%	11.6%	15.5%	15.5%	14.1%
HV 60d	30.3%	28.4%	31.9%	31.9%	28.5%
IV Rank	26.8%	5.8%	100.0%	16.8%	27.2%
IV Percentile	32.9%	2.0%	100.0%	14.7%	41.3%
Term Structure	4.3%	-0.0%	10.5%	1.0%	0.4%
VWIV	24.2%	24.2%	24.2%	24.2%	24.2%
Skew 25d	2.7%	-5.9%	11.3%	0.2%	-5.9%
Skew 10d	6.7%	-6.9%	27.6%	-0.9%	7.7%
Call IV 25d	27.1%	18.1%	35.4%	31.1%	31.7%
Put IV 25d	29.8%	22.4%	38.1%	31.3%	25.8%
Bid-Ask Spread %	97.60	37.49	137.97	126.67	114.66
Gamma HHI	0.41	0.32	0.50	0.33	0.44
Net GEX	1.1K	-1.8K	2.2K	722	2.0K
Net DEX	-42.1K	-58.1K	-20.7K	-35.8K	-44.0K
Net VEX	-138	-195	-84	-120	-187
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.67	0.00	16.00	16.00	2.00
Total Volume	2	0	18	18	1
Total OI	41.81	34	50	46	38

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
2019-03-01	$84.16	$74.98	24.6%	7.1%	15.5%	16.8%	24.2%	0.2%	1.0%	722	-35.8K	-120	16.00	126.67	1	17	7	39
2019-03-04	$84.64	$74.98	36.5%	10.5%	13.4%	44.4%	0.0%	-0.0%	1.7%	819	-39.0K	-97	0.00	130.64	0	0	7	39
2019-03-05	$83.74	$74.98	32.0%	9.2%	14.2%	33.9%	0.0%	2.9%	3.7%	-68	-32.0K	-127	0.00	131.56	0	0	7	39
2019-03-06	$83.55	$74.98	22.3%	6.4%	13.3%	11.3%	0.0%	-2.8%	4.8%	1.4K	-35.0K	-107	0.00	128.63	0	0	7	39
2019-03-07	$82.83	$74.98	46.1%	13.2%	13.4%	66.7%	0.0%	3.0%	2.9%	-1.8K	-20.7K	-163	0.00	130.70	0	0	7	39
2019-03-08	$82.37	$74.98	43.4%	12.4%	13.5%	60.3%	0.0%	3.8%	2.0%	-652	-25.9K	-123	0.00	137.97	0	0	7	39
2019-03-11	$83.91	$65.60	60.5%	9.0%	14.9%	100.0%	0.0%	0.2%	8.2%	-259	-28.2K	-115	0.00	79.93	0	0	7	39
2019-03-12	$84.44	$65.60	26.0%	7.9%	13.1%	20.0%	0.0%	1.2%	1.7%	-326	-30.2K	-104	0.00	101.10	1	0	7	39
2019-03-13	$85.44	$65.60	21.2%	7.7%	13.4%	8.7%	0.0%	-3.3%	7.5%	1.7K	-43.4K	-84	1.00	64.46	1	1	7	39
2019-03-14	$86.20	$65.60	22.1%	7.9%	13.4%	10.9%	0.0%	4.9%	9.8%	883	-41.8K	-90	0.50	99.06	2	1	7	41
2019-03-15	$86.61	$65.60	22.2%	7.9%	13.3%	11.1%	0.0%	8.8%	10.5%	1.5K	-50.5K	-110	0.50	100.77	2	1	9	41
2019-03-18	$87.22	$0.00	24.9%	8.2%	11.8%	17.4%	0.0%	1.4%	2.4%	1.7K	-48.2K	-134	0.00	120.22	0	0	9	25
2019-03-19	$87.65	$0.00	25.0%	8.0%	11.6%	17.5%	0.0%	6.3%	1.8%	1.5K	-52.0K	-124	0.00	118.96	1	0	9	25
2019-03-20	$87.49	$0.00	24.6%	8.0%	11.7%	16.7%	0.0%	-1.4%	1.7%	1.9K	-55.7K	-138	2.00	117.85	1	2	10	25
2019-03-21	$88.32	$0.00	22.2%	8.5%	11.8%	11.0%	0.0%	2.0%	7.6%	2.0K	-58.1K	-164	2.00	40.30	1	2	10	27
2019-03-22	$86.98	$0.00	25.8%	8.5%	13.3%	19.5%	0.0%	9.0%	1.0%	1.9K	-52.3K	-172	2.00	37.49	1	2	10	27
2019-03-25	$86.38	$0.00	25.4%	8.7%	13.3%	18.5%	0.0%	8.0%	5.5%	2.2K	-47.9K	-175	0.00	45.21	0	1	10	27
2019-03-26	$86.54	$0.00	28.6%	8.1%	13.3%	25.9%	0.0%	2.7%	9.0%	1.4K	-45.2K	-195	0.00	94.11	0	1	10	28
2019-03-27	$87.12	$0.00	25.5%	8.3%	13.4%	18.8%	0.0%	11.3%	-0.0%	1.8K	-48.5K	-190	0.00	71.83	0	1	10	28
2019-03-28	$86.95	$0.00	19.9%	8.4%	13.4%	5.8%	0.0%	4.1%	6.8%	2.2K	-49.8K	-185	0.00	57.50	0	1	10	28
2019-03-29	$85.93	$0.00	29.1%	7.9%	14.1%	27.2%	0.0%	-5.9%	0.4%	2.0K	-44.0K	-187	0.00	114.66	0	1	10	28