LBRDA Options History — March 2020

In March 2020, LBRDA traded between $80.71 and $123.05. ATM implied volatility averaged 46.2%, placing in the 60.6% IV rank vs the trailing year. The 30-day expected move averaged 12.9%. IV traded below realized volatility by 17.5% (HV 20d: 63.7%). Max pain ranged from $89.03 to $121.84. Net GEX was positive for 13 of 22 trading days. Term structure was in contango for 1 of 22 days. Put/call ratio averaged 0.11.

Notable Days

2020-03-16: Highest Volume — 27 contracts
2020-03-16: Largest IV spike — 43.0% change
2020-03-18: Highest IV Rank — 86.8%
2020-03-18: Largest Expected Move — 17.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$100.35	$80.71	$123.05	$117.32	$100.17
Max Pain	$93.08	$89.03	$121.84	$121.84	$89.03
ATM IV	46.2%	32.4%	60.6%	33.8%	55.5%
Expected Move	12.9%	7.9%	17.4%	9.7%	15.9%
HV 20d	63.7%	26.4%	98.2%	28.1%	96.8%
HV 60d	41.2%	21.7%	58.8%	21.8%	58.8%
IV Rank	60.6%	35.3%	86.8%	37.9%	77.5%
IV Percentile	95.3%	84.5%	99.2%	89.3%	97.6%
Term Structure	-10.3%	-38.5%	2.9%	-10.5%	-5.3%
VWIV	52.8%	31.5%	112.7%	34.1%	112.7%
Skew 25d	3.0%	-17.3%	26.5%	-9.6%	13.2%
Skew 10d	14.2%	-7.5%	44.2%	1.2%	41.6%
Call IV 25d	47.6%	27.9%	75.7%	34.8%	46.5%
Put IV 25d	50.6%	25.2%	80.2%	25.2%	59.6%
Bid-Ask Spread %	117.17	96.79	130.90	118.30	99.68
Gamma HHI	0.24	0.11	0.42	0.23	0.37
Net GEX	2.6K	-2.3K	12.7K	5.4K	5.3K
Net DEX	143.3K	-52.7K	250.5K	82.1K	20.3K
Net VEX	-989	-1.4K	-482	-1.2K	-1.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.11	0.00	1.00	0.00	0.00
Total Volume	2.409	0	27	1	1
Total OI	99.273	87	115	87	104

Daily Data (22 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
2020-03-02	$117.32	$121.84	33.8%	9.7%	28.1%	37.9%	34.1%	-9.6%	-10.5%	5.4K	82.1K	-1.2K	0.00	118.30	1	0	48	39
2020-03-03	$118.93	$117.15	33.0%	9.5%	26.4%	36.5%	31.5%	1.0%	-3.2%	7.7K	29.9K	-1.4K	0.00	117.97	1	0	49	39
2020-03-04	$123.05	$117.15	32.4%	9.3%	29.5%	35.3%	0.0%	0.4%	-6.9%	12.7K	-52.7K	-1.4K	0.00	118.99	0	0	49	39
2020-03-05	$117.65	$89.03	36.5%	7.9%	32.9%	42.9%	0.0%	-3.6%	-0.9%	7.2K	41.9K	-1.4K	0.00	110.08	0	0	49	39
2020-03-06	$113.63	$89.03	39.3%	9.2%	34.8%	47.9%	36.8%	4.8%	-0.2%	3.0K	95.9K	-1.3K	1.00	107.89	1	1	49	39
2020-03-09	$105.51	$89.03	41.5%	10.3%	42.5%	52.0%	0.0%	-10.5%	-5.4%	-1.1K	191.4K	-1.0K	0.00	106.64	2	0	49	41
2020-03-10	$108.28	$89.03	37.9%	9.6%	44.0%	45.4%	0.0%	5.6%	-2.7%	-793	181.7K	-1.0K	0.00	110.19	0	0	50	41
2020-03-11	$103.70	$89.03	37.9%	10.9%	45.5%	45.4%	0.0%	1.6%	-4.4%	-2.3K	211.4K	-946	0.00	108.89	0	0	50	41
2020-03-12	$99.20	$89.03	44.6%	12.8%	46.8%	57.7%	0.0%	1.1%	-11.1%	-1.6K	214.0K	-942	0.00	126.06	4	0	50	41
2020-03-13	$101.12	$89.03	42.1%	12.1%	47.8%	53.0%	0.0%	0.9%	-10.2%	-1.6K	217.8K	-911	0.00	130.80	0	0	48	41
2020-03-16	$87.99	$89.03	60.2%	17.2%	65.6%	86.1%	49.7%	26.5%	-38.5%	-1.5K	240.4K	-650	0.00	121.13	27	0	48	39
2020-03-17	$89.15	$89.03	50.2%	14.4%	65.9%	67.9%	0.0%	1.1%	-8.5%	2.1K	208.3K	-804	0.00	127.59	1	0	75	39
2020-03-18	$80.71	$89.03	60.6%	17.4%	70.9%	86.8%	0.0%	-6.1%	-23.0%	125	250.5K	-506	0.00	123.69	1	0	76	39
2020-03-19	$88.00	$89.03	47.2%	13.5%	80.9%	62.3%	0.0%	-17.3%	-13.7%	-122	236.3K	-700	0.00	130.90	0	0	76	39
2020-03-20	$82.32	$89.03	59.2%	17.0%	82.5%	84.3%	0.0%	1.5%	-25.8%	1.3K	219.3K	-650	0.00	125.84	0	0	76	39
2020-03-23	$82.47	$89.03	51.4%	14.7%	82.8%	70.1%	0.0%	-0.7%	-21.2%	-48	237.1K	-482	0.00	129.47	0	0	69	37
2020-03-24	$90.67	$89.03	50.1%	14.4%	92.5%	67.8%	0.0%	-7.9%	-17.8%	-449	216.9K	-642	0.00	130.30	0	0	69	37
2020-03-25	$93.17	$89.03	50.8%	14.6%	93.6%	68.9%	51.9%	16.7%	-7.1%	4.2K	154.3K	-824	0.00	113.19	1	0	69	37
2020-03-26	$99.91	$89.03	44.1%	12.7%	98.2%	56.8%	0.0%	12.1%	2.9%	7.3K	81.9K	-1.0K	0.00	123.96	0	11	70	37
2020-03-27	$101.50	$89.03	53.8%	15.4%	97.0%	74.4%	0.0%	20.3%	-4.9%	5.1K	90.3K	-1.4K	0.00	99.47	0	1	66	48
2020-03-30	$103.19	$89.03	54.3%	15.6%	96.7%	75.4%	0.0%	14.6%	-7.3%	6.3K	-17.2K	-1.3K	0.00	96.79	0	0	66	38
2020-03-31	$100.17	$89.03	55.5%	15.9%	96.8%	77.5%	112.7%	13.2%	-5.3%	5.3K	20.3K	-1.3K	0.00	99.68	0	1	66	38