LBRDA Options History — February 2020

In February 2020, LBRDA traded between $114.69 and $129.39. ATM implied volatility averaged 20.2%, placing in the 13.0% IV rank vs the trailing year. The 30-day expected move averaged 5.5%. IV traded below realized volatility by 3.4% (HV 20d: 23.6%). Max pain ranged from $107.78 to $121.84. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 0.16.

Notable Days

2020-02-03: Highest Volume — 14 contracts
2020-02-07: Largest IV spike — 31.3% change
2020-02-25: Highest IV Rank — 25.8%
2020-02-25: Largest Expected Move — 7.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$125.30	$114.69	$129.39	$126.79	$114.69
Max Pain	$111.48	$107.78	$121.84	$121.84	$121.84
ATM IV	20.2%	15.5%	27.2%	20.9%	25.7%
Expected Move	5.5%	4.4%	7.8%	6.0%	7.4%
HV 20d	23.6%	22.2%	31.4%	22.2%	31.4%
HV 60d	17.5%	16.9%	21.3%	17.6%	21.3%
IV Rank	13.0%	4.4%	25.8%	14.4%	23.2%
IV Percentile	23.1%	2.0%	64.7%	21.4%	57.1%
Term Structure	0.7%	-6.1%	4.6%	-1.8%	3.3%
VWIV	23.0%	20.2%	25.7%	20.2%	25.7%
Skew 25d	2.9%	-1.5%	8.9%	8.9%	-0.4%
Skew 10d	3.9%	-4.3%	17.9%	5.0%	2.6%
Call IV 25d	21.7%	12.3%	33.3%	12.8%	33.3%
Put IV 25d	24.6%	13.7%	33.5%	21.7%	33.0%
Bid-Ask Spread %	117.60	101.16	123.75	113.67	115.89
Gamma HHI	0.41	0.25	0.71	0.57	0.25
Net GEX	31.0K	4.8K	87.7K	21.7K	4.8K
Net DEX	-179.2K	-323.7K	101.0K	-185.5K	101.0K
Net VEX	-1.3K	-1.4K	-991	-1.2K	-991
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.16	0.00	0.63	0.63	0.00
Total Volume	3	0	14	14	7
Total OI	79.632	64	85	64	78

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
2020-02-03	$126.79	$121.84	20.9%	6.0%	22.2%	14.4%	20.2%	8.9%	-1.8%	21.7K	-185.5K	-1.2K	0.63	113.67	9	5	41	23
2020-02-04	$126.44	$121.84	16.2%	4.7%	22.3%	5.8%	0.0%	1.4%	0.6%	29.4K	-182.8K	-1.2K	0.00	118.89	11	0	47	23
2020-02-05	$124.35	$121.84	17.7%	5.1%	23.4%	8.4%	0.0%	1.3%	-0.7%	31.5K	-162.7K	-1.4K	0.00	115.68	0	1	58	23
2020-02-06	$124.63	$107.78	16.7%	4.7%	23.3%	6.7%	0.0%	4.8%	-0.0%	35.2K	-163.2K	-1.3K	0.00	101.16	0	0	58	23
2020-02-07	$124.58	$107.78	22.0%	5.9%	23.3%	16.3%	0.0%	7.1%	3.7%	25.4K	-176.1K	-1.3K	0.00	115.42	0	6	58	23
2020-02-10	$125.29	$107.78	26.7%	5.0%	23.2%	24.8%	0.0%	-1.1%	0.7%	30.0K	-195.9K	-1.4K	0.00	112.71	4	0	58	25
2020-02-11	$125.95	$107.78	20.6%	4.4%	23.0%	13.7%	0.0%	4.8%	4.2%	42.3K	-219.6K	-1.4K	0.00	120.59	0	0	60	25
2020-02-12	$126.56	$107.78	17.1%	4.9%	23.0%	7.3%	0.0%	6.8%	3.5%	40.3K	-246.3K	-1.4K	0.00	121.63	0	0	60	25
2020-02-13	$126.89	$107.78	15.5%	4.4%	22.9%	4.4%	0.0%	0.4%	2.8%	38.9K	-245.8K	-1.4K	0.00	123.75	0	0	60	25
2020-02-14	$126.95	$107.78	16.3%	4.7%	22.8%	6.0%	0.0%	-1.5%	4.0%	37.8K	-253.6K	-1.4K	0.00	121.67	0	0	60	25
2020-02-18	$127.95	$107.78	17.2%	4.9%	22.7%	7.5%	0.0%	0.5%	-1.4%	33.1K	-268.4K	-1.4K	0.00	122.07	0	5	60	25
2020-02-19	$129.39	$107.78	17.1%	4.9%	22.8%	7.4%	0.0%	0.8%	-1.4%	32.0K	-323.7K	-1.4K	0.00	122.99	0	0	60	25
2020-02-20	$128.18	$107.78	19.3%	5.5%	23.2%	11.3%	0.0%	2.8%	4.6%	35.1K	-300.5K	-1.4K	0.00	119.28	0	0	60	25
2020-02-21	$127.13	$107.78	19.0%	5.4%	23.5%	10.8%	0.0%	0.6%	-0.8%	87.7K	-317.4K	-1.3K	0.00	122.55	2	0	60	25
2020-02-24	$126.22	$107.78	20.9%	6.0%	23.1%	14.3%	0.0%	6.8%	-3.1%	19.1K	-119.1K	-1.2K	0.00	119.95	0	0	46	25
2020-02-25	$123.65	$107.78	27.2%	7.8%	24.4%	25.8%	0.0%	3.4%	-6.1%	17.2K	-77.7K	-1.2K	0.00	113.58	0	5	46	25
2020-02-26	$123.57	$107.78	21.7%	6.2%	24.4%	15.8%	23.1%	4.5%	3.1%	15.6K	-66.2K	-1.3K	0.00	113.54	0	1	46	30
2020-02-27	$121.40	$121.84	25.8%	7.4%	23.6%	23.3%	0.0%	3.2%	-2.1%	11.6K	-1.4K	-1.3K	0.00	119.29	0	1	46	31
2020-02-28	$114.69	$121.84	25.7%	7.4%	31.4%	23.2%	25.7%	-0.4%	3.3%	4.8K	101.0K	-991	0.00	115.89	0	7	46	32