LBRDA Options History — April 2020

In April 2020, LBRDA traded between $95.56 and $116.46. ATM implied volatility averaged 47.6%, placing in the 63.2% IV rank vs the trailing year. The 30-day expected move averaged 13.8%. IV traded below realized volatility by 19.9% (HV 20d: 67.5%). Max pain ranged from $89.03 to $107.78. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 0 of 21 days. Put/call ratio averaged 0.33.

Notable Days

2020-04-08: Highest Volume — 11 contracts
2020-04-02: Largest IV drop — 18.4% change
2020-04-01: Highest IV Rank — 82.8%
2020-04-01: Largest Expected Move — 16.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$108.87	$95.56	$116.46	$95.56	$113.19
Max Pain	$106.61	$89.03	$107.78	$89.03	$107.78
ATM IV	47.6%	39.0%	58.4%	58.4%	51.4%
Expected Move	13.8%	12.3%	16.7%	16.7%	14.7%
HV 20d	67.5%	31.1%	97.0%	96.3%	31.1%
HV 60d	61.6%	59.5%	62.4%	59.5%	61.4%
IV Rank	63.2%	47.3%	82.8%	82.8%	70.0%
IV Percentile	92.7%	87.7%	98.0%	98.0%	94.8%
Term Structure	-11.1%	-17.0%	-6.9%	-10.5%	-14.3%
VWIV	42.4%	42.4%	42.4%	42.4%	42.4%
Skew 25d	8.2%	-1.8%	15.8%	15.8%	4.0%
Skew 10d	18.6%	3.3%	39.8%	39.8%	24.9%
Call IV 25d	47.8%	37.4%	69.9%	43.7%	69.9%
Put IV 25d	55.9%	45.2%	74.2%	59.4%	73.9%
Bid-Ask Spread %	99.71	71.12	131.16	107.65	131.16
Gamma HHI	0.33	0.17	0.66	0.37	0.19
Net GEX	4.4K	-405	17.2K	2.9K	-405
Net DEX	-58.1K	-306.4K	101.9K	101.9K	-13.6K
Net VEX	-1.0K	-1.1K	-930	-1.1K	-930
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.33	0.00	1.00	1.00	0.00
Total Volume	1.19	0	11	2	0
Total OI	85.048	50	117	105	50

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
2020-04-01	$95.56	$89.03	58.4%	16.7%	96.3%	82.8%	0.0%	15.8%	-10.5%	2.9K	101.9K	-1.1K	1.00	107.65	1	1	66	39
2020-04-02	$99.07	$0.00	47.6%	13.7%	97.0%	63.2%	0.0%	6.8%	-8.8%	5.2K	72.9K	-1.1K	0.00	71.12	0	1	66	39
2020-04-03	$96.94	$0.00	43.0%	12.9%	96.7%	54.7%	0.0%	9.0%	-6.9%	4.5K	100.1K	-1.1K	0.00	79.43	0	0	67	41
2020-04-06	$102.45	$0.00	42.0%	12.3%	95.8%	52.9%	0.0%	9.5%	-7.5%	8.9K	13.9K	-1.1K	0.00	87.04	0	0	66	41
2020-04-07	$101.74	$0.00	39.0%	12.7%	95.3%	47.3%	0.0%	8.6%	-9.7%	9.5K	39.8K	-1.1K	0.00	82.91	0	10	66	41
2020-04-08	$103.95	$0.00	45.0%	12.9%	94.4%	58.3%	42.4%	9.0%	-8.8%	12.0K	-38.4K	-998	0.00	83.84	11	0	66	39
2020-04-09	$104.39	$107.78	45.4%	13.0%	93.0%	59.0%	0.0%	9.7%	-8.2%	16.4K	-93.8K	-1.1K	0.00	86.80	0	0	77	39
2020-04-13	$105.53	$107.78	47.5%	13.6%	92.8%	63.0%	0.0%	9.1%	-12.9%	17.2K	-122.1K	-1.1K	0.00	84.80	0	0	77	39
2020-04-14	$110.23	$107.78	43.3%	12.4%	77.3%	55.2%	0.0%	1.6%	-8.8%	8.0K	-236.8K	-1.0K	0.00	88.90	1	0	77	39
2020-04-15	$112.27	$107.78	49.5%	14.2%	77.3%	66.7%	0.0%	-1.8%	-15.7%	5.8K	-272.7K	-1.1K	0.00	90.83	0	0	78	39
2020-04-16	$112.25	$107.78	44.9%	12.9%	65.6%	58.1%	0.0%	8.5%	-9.9%	4.1K	-282.6K	-1.0K	0.00	90.59	0	0	78	39
2020-04-17	$113.87	$107.78	46.6%	13.3%	60.1%	61.2%	0.0%	9.5%	-11.1%	-244	-306.4K	-1.0K	0.00	93.45	0	0	78	39
2020-04-20	$113.89	$107.78	49.0%	14.0%	52.6%	65.6%	0.0%	10.6%	-9.4%	-257	-17.0K	-1.0K	0.00	95.61	0	0	21	29
2020-04-21	$112.46	$107.78	50.9%	14.6%	53.4%	69.2%	0.0%	10.6%	-9.3%	-76	-5.8K	-1.0K	0.00	93.32	0	0	21	29
2020-04-22	$113.16	$107.78	49.5%	14.2%	44.5%	66.5%	0.0%	10.1%	-9.6%	-96	-8.2K	-1.0K	0.00	88.19	0	0	21	29
2020-04-23	$113.91	$107.78	55.5%	15.9%	44.1%	77.6%	0.0%	5.6%	-14.7%	-69	-20.3K	-1.0K	0.00	124.42	0	0	21	29
2020-04-24	$114.88	$107.78	45.9%	13.2%	38.0%	60.1%	0.0%	15.2%	-13.0%	115	-25.2K	-991	0.00	126.19	0	0	21	29
2020-04-27	$116.46	$107.78	46.3%	13.3%	37.9%	60.8%	0.0%	6.1%	-13.5%	389	-43.8K	-969	0.00	127.80	0	0	21	29
2020-04-28	$115.39	$107.78	47.9%	13.7%	38.2%	63.6%	0.0%	7.5%	-17.0%	25	-32.5K	-959	0.00	129.62	0	0	21	29
2020-04-29	$114.72	$107.78	51.7%	14.8%	36.1%	70.6%	0.0%	6.7%	-14.2%	-401	-29.1K	-940	0.00	130.26	0	0	21	29
2020-04-30	$113.19	$107.78	51.4%	14.7%	31.1%	70.0%	0.0%	4.0%	-14.3%	-405	-13.6K	-930	0.00	131.16	0	0	21	29