LBRDA Options History — September 2025

In September 2025, LBRDA traded between $59.19 and $63.88. ATM implied volatility averaged 36.9%, placing in the 34.5% IV rank vs the trailing year. The 30-day expected move averaged 10.5%. IV traded above realized volatility by 13.6% (HV 20d: 23.3%). Max pain ranged from $60.00 to $70.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 21 of 21 days. Put/call ratio averaged 0.27.

Notable Days

2025-09-29: Highest Volume — 3,226 contracts
2025-09-05: Largest IV drop — 44.4% change
2025-09-04: Highest IV Rank — 63.7%
2025-09-29: Largest Expected Move — 13.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$60.73	$59.19	$63.88	$60.23	$63.88
Max Pain	$69.05	$60.00	$70.00	$60.00	$70.00
ATM IV	36.9%	28.7%	51.6%	31.3%	41.2%
Expected Move	10.5%	9.0%	13.2%	9.0%	11.8%
HV 20d	23.3%	19.9%	27.1%	27.1%	20.6%
HV 60d	102.3%	101.8%	102.7%	102.7%	101.9%
IV Rank	34.5%	18.2%	63.7%	23.3%	43.0%
IV Percentile	61.8%	36.9%	93.3%	46.0%	73.4%
Term Structure	4.7%	0.4%	9.6%	0.4%	5.7%
VWIV	34.0%	25.7%	40.2%	37.1%	25.7%
Skew 25d	4.1%	-25.9%	13.5%	5.1%	2.4%
Skew 10d	9.1%	-28.1%	30.3%	-7.1%	15.3%
Call IV 25d	38.3%	29.6%	71.5%	29.9%	35.9%
Put IV 25d	42.5%	33.4%	78.0%	35.0%	38.3%
Bid-Ask Spread %	80.99	66.90	114.23	106.96	83.03
Gamma HHI	0.22	0.13	0.48	0.22	0.48
Net GEX	19.3K	3.3K	265.2K	4.9K	265.2K
Net DEX	-663.4K	-13.7M	39.9K	35.5K	-13.7M
Net VEX	-2.6K	-34.0K	-917	-922	-34.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.27	0.00	2.00	0.00	0.00
Total Volume	167.571	0	3,226	0	4
Total OI	616.524	315	3,456	315	3,456

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
2025-09-02	$60.23	$60.00	31.3%	9.0%	27.1%	23.3%	0.0%	5.1%	0.4%	4.9K	35.5K	-922	0.00	106.96	0	0	275	40
2025-09-03	$59.84	$60.00	39.3%	11.3%	26.6%	39.2%	0.0%	-25.9%	1.6%	4.9K	39.9K	-917	0.00	114.23	4	0	275	40
2025-09-04	$59.19	$70.00	51.6%	10.8%	26.3%	63.7%	37.1%	8.0%	5.1%	5.2K	14.5K	-987	0.00	93.21	27	0	279	40
2025-09-05	$59.79	$70.00	28.7%	9.3%	26.2%	18.2%	0.0%	4.1%	3.1%	5.4K	15.8K	-959	0.00	72.29	0	0	301	40
2025-09-08	$59.91	$70.00	30.1%	9.3%	25.9%	20.9%	34.7%	3.9%	3.5%	5.5K	15.7K	-957	0.50	67.05	4	2	301	40
2025-09-09	$60.05	$70.00	29.8%	9.2%	25.7%	20.5%	31.3%	3.9%	3.7%	5.3K	19.2K	-932	0.00	79.40	161	0	305	42
2025-09-10	$60.00	$70.00	32.4%	9.3%	25.2%	25.4%	0.0%	4.0%	3.0%	8.1K	11.9K	-975	0.00	84.01	1	0	459	42
2025-09-11	$60.15	$70.00	31.9%	9.1%	23.3%	24.5%	31.9%	3.9%	3.8%	8.3K	2.9K	-991	2.00	74.49	1	2	471	42
2025-09-12	$60.25	$70.00	41.1%	11.8%	22.0%	42.7%	0.0%	13.5%	2.3%	8.7K	-28.7K	-1.2K	0.00	92.31	0	0	471	44
2025-09-15	$59.68	$70.00	33.7%	9.7%	21.0%	28.1%	32.9%	5.1%	3.5%	6.9K	20.1K	-937	0.00	79.41	4	0	471	44
2025-09-16	$59.59	$70.00	35.5%	10.2%	21.0%	31.7%	0.0%	6.1%	3.2%	7.1K	14.1K	-1.0K	1.42	70.87	19	27	475	44
2025-09-17	$61.41	$70.00	34.7%	10.0%	23.7%	30.1%	32.4%	5.7%	4.2%	8.0K	-38.6K	-1.2K	0.33	69.23	6	2	494	71
2025-09-18	$60.17	$70.00	35.8%	10.3%	24.8%	32.2%	34.4%	6.8%	6.5%	5.8K	5.0K	-1.1K	0.13	73.12	8	1	497	72
2025-09-19	$60.42	$70.00	35.0%	10.0%	24.9%	30.8%	31.6%	7.0%	7.2%	3.3K	5.5K	-1.1K	0.00	73.43	6	0	501	74
2025-09-22	$60.70	$70.00	35.6%	10.2%	21.3%	31.9%	0.0%	6.9%	7.5%	7.8K	-2.8K	-1.1K	0.00	75.94	4	0	472	67
2025-09-23	$61.36	$70.00	39.8%	11.4%	21.2%	40.1%	40.2%	5.7%	6.8%	8.0K	-27.1K	-1.2K	0.00	66.90	1	0	472	67
2025-09-24	$60.23	$70.00	39.0%	11.2%	19.9%	38.6%	39.0%	7.3%	7.1%	7.3K	6.5K	-1.1K	0.00	72.95	0	2	472	67
2025-09-25	$61.77	$70.00	38.7%	11.1%	21.3%	38.1%	36.9%	4.8%	7.3%	8.0K	-28.3K	-1.2K	0.25	68.63	4	1	472	68
2025-09-26	$63.12	$70.00	44.5%	12.7%	20.6%	49.4%	0.0%	2.2%	4.7%	10.6K	-132.5K	-1.4K	0.00	90.93	2	0	474	68
2025-09-29	$63.66	$70.00	46.2%	13.2%	20.7%	52.9%	0.0%	6.5%	9.6%	10.5K	-148.3K	-1.4K	0.00	92.45	3,226	0	474	68
2025-09-30	$63.88	$70.00	41.2%	11.8%	20.6%	43.0%	25.7%	2.4%	5.7%	265.2K	-13.7M	-34.0K	0.00	83.03	4	0	3,388	68