LBRDA Options History — January 2020

In January 2020, LBRDA traded between $116.83 and $123.25. ATM implied volatility averaged 28.4%, placing in the 28.0% IV rank vs the trailing year. The 30-day expected move averaged 7.1%. IV traded above realized volatility by 16.7% (HV 20d: 11.7%). Max pain ranged from $93.72 to $126.52. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 1.51.

Notable Days

2020-01-16: Highest Volume — 25 contracts
2020-01-15: Largest IV drop — 36.4% change
2020-01-13: Highest IV Rank — 60.2%
2020-01-29: Largest Expected Move — 8.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$120.13	$116.83	$123.25	$116.83	$123.25
Max Pain	$120.85	$93.72	$126.52	$93.72	$121.84
ATM IV	28.4%	18.4%	46.0%	19.1%	18.4%
Expected Move	7.1%	5.2%	8.9%	5.5%	5.3%
HV 20d	11.7%	8.6%	20.5%	14.8%	20.5%
HV 60d	16.6%	13.5%	17.9%	17.9%	16.7%
IV Rank	28.0%	9.7%	60.2%	11.0%	9.7%
IV Percentile	59.7%	7.5%	97.2%	10.3%	7.5%
Term Structure	-2.5%	-11.2%	6.1%	6.1%	0.5%
VWIV	24.8%	21.4%	28.1%	22.9%	26.7%
Skew 25d	3.6%	-1.5%	12.8%	0.6%	6.2%
Skew 10d	10.4%	1.0%	18.6%	5.0%	15.7%
Call IV 25d	26.4%	16.1%	37.4%	30.7%	16.1%
Put IV 25d	30.0%	22.1%	38.7%	31.4%	22.3%
Bid-Ask Spread %	105.24	94.44	115.82	101.92	111.34
Gamma HHI	0.44	0.33	0.57	0.33	0.53
Net GEX	7.5K	-1.6K	21.6K	-1.4K	21.6K
Net DEX	-67.4K	-176.1K	14.7K	-43.4K	-91.2K
Net VEX	-813	-1.2K	-455	-475	-1.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.51	0.00	10.00	0.63	10.00
Total Volume	3.667	0	25	0	12
Total OI	65.19	58	95	58	62

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
2020-01-02	$116.83	$93.72	19.1%	5.5%	14.8%	11.0%	0.0%	0.6%	6.1%	-1.4K	-43.4K	-475	0.00	101.92	0	0	16	42
2020-01-03	$118.27	$93.72	25.3%	7.3%	13.5%	22.4%	0.0%	3.1%	2.3%	-1.1K	-47.3K	-490	0.00	115.82	0	0	16	42
2020-01-06	$118.81	$0.00	28.3%	6.7%	12.7%	27.9%	0.0%	-0.6%	-0.7%	-1.2K	-52.5K	-471	0.00	107.02	0	0	16	42
2020-01-07	$119.50	$0.00	28.5%	6.4%	12.5%	28.1%	22.9%	1.0%	-1.9%	-1.6K	-56.1K	-455	0.63	109.82	9	5	16	42
2020-01-08	$119.56	$126.52	31.6%	6.9%	11.8%	33.9%	21.4%	12.8%	-4.2%	2.6K	-82.7K	-579	0.00	96.95	1	0	25	42
2020-01-09	$120.09	$126.52	32.4%	6.7%	10.5%	35.3%	0.0%	-0.9%	0.3%	3.2K	-91.9K	-584	0.00	108.88	0	0	26	42
2020-01-10	$119.42	$126.52	36.9%	7.7%	10.8%	43.6%	0.0%	7.2%	-4.7%	3.1K	-85.5K	-584	0.00	106.00	4	0	26	42
2020-01-13	$120.76	$126.52	46.0%	5.2%	10.9%	60.2%	0.0%	-0.6%	2.6%	4.0K	-81.2K	-612	0.00	112.76	1	0	27	42
2020-01-14	$120.53	$126.52	36.8%	8.5%	11.1%	43.4%	0.0%	2.5%	-11.2%	2.9K	-103.1K	-643	0.50	100.41	2	1	28	42
2020-01-15	$121.37	$126.52	23.4%	6.7%	10.0%	19.0%	0.0%	2.1%	-5.3%	3.6K	-98.3K	-708	0.00	103.43	0	0	28	43
2020-01-16	$120.80	$126.52	28.7%	8.2%	10.5%	28.6%	0.0%	3.7%	-5.8%	2.7K	-96.6K	-702	0.00	101.30	25	0	28	43
2020-01-17	$120.17	$126.52	28.5%	8.2%	10.6%	28.3%	28.1%	-0.7%	-5.9%	10.8K	-176.1K	-1.2K	0.00	102.77	2	0	52	43
2020-01-21	$121.25	$121.84	24.1%	6.9%	9.5%	20.1%	0.0%	5.0%	-2.5%	14.2K	-53.1K	-1.1K	0.00	95.78	0	0	37	25
2020-01-22	$121.90	$121.84	22.5%	6.4%	9.4%	17.2%	0.0%	7.4%	2.1%	15.8K	-52.8K	-1.2K	0.00	100.88	0	0	37	25
2020-01-23	$122.44	$121.84	25.3%	7.3%	8.6%	22.4%	0.0%	1.5%	-4.3%	14.5K	-79.8K	-1.1K	0.00	111.14	0	0	37	25
2020-01-24	$120.86	$121.84	25.6%	7.4%	10.3%	23.0%	0.0%	4.3%	-4.3%	13.1K	-51.3K	-1.1K	0.00	115.01	3	0	37	25
2020-01-27	$120.52	$121.84	25.1%	7.2%	10.4%	21.9%	0.0%	10.4%	-4.5%	13.6K	-39.1K	-1.1K	0.00	105.12	0	0	37	25
2020-01-28	$120.69	$121.84	30.8%	8.8%	10.4%	32.4%	0.0%	-1.5%	-2.7%	12.6K	-59.8K	-1.1K	0.00	112.73	0	0	37	25
2020-01-29	$117.80	$121.84	31.0%	8.9%	13.8%	32.8%	26.7%	5.7%	-7.1%	11.4K	14.7K	-883	4.00	94.44	2	9	37	25
2020-01-30	$117.96	$121.84	27.8%	8.0%	13.5%	26.9%	0.0%	5.4%	-1.2%	12.7K	10.6K	-912	0.00	96.54	0	1	39	23
2020-01-31	$123.25	$121.84	18.4%	5.3%	20.5%	9.7%	0.0%	6.2%	0.5%	21.6K	-91.2K	-1.1K	10.00	111.34	1	11	39	23