LBRDA Options History — November 2019

In November 2019, LBRDA traded between $108.25 and $112.54. ATM implied volatility averaged 26.3%, placing in the 22.8% IV rank vs the trailing year. The 30-day expected move averaged 5.9%. IV traded above realized volatility by 4.9% (HV 20d: 21.4%). Max pain ranged from $93.72 to $121.84. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 6 of 20 days. Put/call ratio averaged 0.42.

Notable Days

2019-11-01: Highest Volume — 5 contracts
2019-11-11: Largest IV spike — 94.5% change
2019-11-11: Highest IV Rank — 82.3%
2019-11-07: Largest Expected Move — 7.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$110.34	$108.25	$112.54	$112.01	$111.18
Max Pain	$114.47	$93.72	$121.84	$93.72	$121.84
ATM IV	26.3%	15.7%	58.3%	21.6%	25.3%
Expected Move	5.9%	3.9%	7.6%	6.2%	7.2%
HV 20d	21.4%	14.8%	24.2%	22.4%	16.1%
HV 60d	19.3%	18.8%	19.7%	19.4%	19.0%
IV Rank	22.8%	3.1%	82.3%	14.0%	21.0%
IV Percentile	36.6%	0.8%	98.8%	16.7%	41.3%
Term Structure	-2.6%	-10.2%	5.0%	-4.0%	-10.2%
VWIV	26.0%	20.2%	31.7%	20.2%	31.7%
Skew 25d	1.1%	-10.6%	11.9%	0.6%	-6.4%
Skew 10d	7.4%	-1.4%	18.1%	3.1%	6.8%
Call IV 25d	23.1%	16.3%	30.1%	23.5%	30.1%
Put IV 25d	24.2%	13.7%	31.9%	24.1%	23.7%
Bid-Ask Spread %	111.39	102.03	122.90	115.45	113.79
Gamma HHI	0.33	0.27	0.41	0.35	0.31
Net GEX	6.5K	4.5K	10.3K	4.5K	4.9K
Net DEX	-149.3K	-195.8K	-121.7K	-131.0K	-140.0K
Net VEX	-285	-367	-193	-193	-236
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.42	0.00	1.00	0.00	0.00
Total Volume	0.9	0	5	5	0
Total OI	44.6	38	51	38	43

Daily Data (20 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
2019-11-01	$112.01	$93.72	21.6%	6.2%	22.4%	14.0%	0.0%	0.6%	-4.0%	4.5K	-131.0K	-193	0.00	115.45	5	0	15	23
2019-11-04	$110.93	$0.00	33.0%	6.2%	23.0%	35.2%	0.0%	1.0%	-1.6%	6.1K	-155.3K	-367	0.00	106.97	0	0	20	23
2019-11-05	$110.65	$0.00	30.1%	6.1%	22.8%	30.0%	0.0%	0.4%	-5.4%	6.5K	-162.6K	-306	0.00	109.71	0	0	20	23
2019-11-06	$109.08	$0.00	30.1%	6.6%	23.8%	29.8%	0.0%	1.3%	-5.3%	6.7K	-141.5K	-356	0.00	104.19	2	0	20	23
2019-11-07	$108.25	$0.00	27.4%	7.6%	24.0%	24.9%	0.0%	-4.1%	-9.4%	10.3K	-147.0K	-364	0.50	103.29	2	1	22	23
2019-11-08	$109.51	$0.00	30.0%	5.7%	24.0%	29.6%	0.0%	1.5%	-1.4%	9.9K	-157.9K	-358	0.00	105.75	0	0	22	25
2019-11-11	$109.63	$0.00	58.3%	3.9%	23.9%	82.3%	20.2%	-1.9%	4.6%	8.8K	-167.8K	-296	1.00	102.03	1	1	22	25
2019-11-12	$109.64	$103.09	45.2%	4.2%	23.0%	58.0%	0.0%	-3.5%	5.0%	8.2K	-168.6K	-306	0.00	108.14	0	2	23	28
2019-11-13	$110.85	$103.09	15.7%	4.5%	23.1%	3.1%	31.7%	1.4%	-5.6%	9.8K	-195.8K	-263	1.00	110.61	1	1	23	28
2019-11-14	$110.82	$103.09	20.3%	5.8%	23.0%	11.7%	0.0%	-10.6%	-5.2%	10.0K	-182.7K	-283	0.00	111.52	0	0	23	28
2019-11-15	$109.68	$103.09	19.8%	5.7%	23.5%	10.6%	0.0%	10.3%	5.0%	5.0K	-173.4K	-286	0.00	108.32	0	0	23	28
2019-11-18	$109.45	$121.84	18.0%	5.2%	23.3%	7.4%	0.0%	2.5%	-1.4%	5.0K	-127.1K	-264	0.00	110.72	0	0	17	25
2019-11-19	$110.76	$121.84	22.2%	6.4%	23.4%	15.1%	0.0%	2.7%	0.4%	4.5K	-129.8K	-293	0.00	111.19	0	0	17	25
2019-11-20	$112.54	$121.84	18.4%	5.3%	23.7%	8.1%	0.0%	-0.8%	0.5%	4.9K	-147.0K	-225	0.00	112.74	0	0	17	25
2019-11-21	$111.45	$121.84	22.9%	6.6%	24.2%	16.5%	0.0%	5.4%	-3.0%	4.9K	-135.2K	-273	0.00	110.35	0	0	17	25
2019-11-22	$110.23	$121.84	20.4%	5.8%	14.8%	11.8%	0.0%	-0.3%	-1.6%	4.8K	-134.2K	-255	0.00	120.13	0	1	17	25
2019-11-25	$109.45	$121.84	25.8%	7.4%	15.0%	21.9%	0.0%	9.9%	-7.6%	5.2K	-126.1K	-270	0.00	118.38	1	0	17	26
2019-11-26	$109.32	$121.84	20.2%	5.8%	15.0%	11.5%	0.0%	11.9%	1.6%	5.7K	-121.7K	-273	0.00	121.59	0	0	17	26
2019-11-27	$111.33	$121.84	21.7%	6.2%	16.1%	14.2%	0.0%	0.4%	-7.6%	4.8K	-140.9K	-236	0.00	122.90	0	0	17	26
2019-11-29	$111.18	$121.84	25.3%	7.2%	16.1%	21.0%	0.0%	-6.4%	-10.2%	4.9K	-140.0K	-236	0.00	113.79	0	0	17	26