BDN Options History — June 2008

In June 2008, BDN traded between $15.76 and $19.86. ATM implied volatility averaged 27.6%, placing in the 19.6% IV rank vs the trailing year. The 30-day expected move averaged 8.0%. IV traded below realized volatility by 3.6% (HV 20d: 31.2%). Max pain ranged from $17.50 to $20.00. Net GEX was positive for 3 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 1.29.

Notable Days

2008-06-20: Highest Volume — 96 contracts
2008-06-11: Largest IV spike — 116.5% change
2008-06-11: Highest IV Rank — 45.1%
2008-06-27: Largest Expected Move — 11.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$17.64	$15.76	$19.86	$18.50	$15.76
Max Pain	$17.98	$17.50	$20.00	$20.00	$17.50
ATM IV	27.6%	18.0%	44.6%	18.0%	36.0%
Expected Move	8.0%	5.2%	11.4%	5.2%	10.3%
HV 20d	31.2%	24.5%	35.0%	24.5%	34.9%
HV 60d	31.3%	29.6%	32.7%	32.5%	30.3%
IV Rank	19.6%	5.3%	45.1%	5.3%	32.3%
IV Percentile	41.5%	8.7%	98.4%	8.7%	75.4%
Term Structure	2.8%	-5.4%	17.9%	17.9%	-1.2%
VWIV	27.9%	20.4%	39.7%	22.3%	39.7%
Skew 25d	6.5%	-5.1%	18.0%	3.8%	14.5%
Skew 10d	6.4%	-10.3%	23.9%	2.7%	16.5%
Call IV 25d	23.7%	15.9%	30.3%	25.5%	25.3%
Put IV 25d	30.2%	16.5%	39.8%	29.3%	39.8%
Bid-Ask Spread %	58.85	17.41	200.00	66.71	25.59
Gamma HHI	0.38	0.33	0.50	0.33	0.50
Net GEX	-14.1K	-29.9K	5.6K	-6.9K	-29.9K
Net DEX	353.7K	-224.7K	901.4K	95.3K	901.4K
Net VEX	-3.1K	-3.5K	-2.5K	-3.3K	-2.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.29	0.00	10.00	0.00	10.00
Total Volume	23.905	0	96	3	10
Total OI	1,382.571	1,112	1,511	1,265	1,511

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
2008-06-02	$18.50	$20.00	18.0%	5.2%	24.5%	5.3%	0.0%	3.8%	17.9%	-6.9K	95.3K	-3.3K	0.00	66.71	0	3	445	820
2008-06-03	$18.89	$20.00	19.0%	5.4%	25.4%	6.8%	0.0%	5.7%	10.8%	-4.3K	39.3K	-3.2K	0.00	68.39	0	0	445	823
2008-06-04	$19.41	$20.00	24.4%	7.0%	26.9%	14.9%	22.3%	7.8%	11.4%	1.2K	-124.7K	-3.0K	0.00	66.12	22	0	445	823
2008-06-05	$19.86	$20.00	24.4%	7.0%	25.6%	14.9%	0.0%	10.0%	1.1%	5.6K	-224.7K	-2.8K	0.00	29.68	38	0	457	823
2008-06-06	$19.00	$17.50	22.8%	5.8%	30.6%	12.5%	22.6%	12.1%	9.3%	52	-57.9K	-3.4K	0.25	105.92	61	15	491	823
2008-06-09	$18.44	$17.50	23.3%	9.7%	32.2%	13.3%	29.0%	2.8%	-5.4%	-3.3K	71.3K	-3.5K	0.73	35.45	15	11	542	838
2008-06-10	$18.26	$17.50	20.6%	9.1%	30.1%	9.2%	25.9%	10.4%	-3.5%	-5.4K	128.0K	-3.4K	0.00	48.70	0	5	527	838
2008-06-11	$18.03	$17.50	44.6%	9.2%	30.3%	45.1%	0.0%	0.0%	6.7%	-13.1K	283.8K	-2.7K	0.00	155.56	0	0	343	769
2008-06-12	$18.12	$17.50	33.5%	9.6%	30.2%	28.5%	33.4%	18.0%	-4.4%	-8.5K	186.2K	-3.4K	0.75	51.56	20	15	529	843
2008-06-13	$18.06	$17.50	33.7%	9.7%	30.1%	28.8%	0.0%	17.4%	-4.2%	-9.0K	190.5K	-3.5K	0.00	48.69	40	0	549	858
2008-06-16	$18.16	$17.50	21.5%	6.2%	30.1%	10.6%	0.0%	0.0%	0.0%	-14.6K	293.8K	-2.9K	0.00	200.00	0	10	530	828
2008-06-17	$17.33	$17.50	31.8%	9.1%	32.7%	25.9%	20.4%	-3.8%	-3.7%	-18.1K	377.5K	-3.2K	0.00	18.43	0	20	550	863
2008-06-18	$17.01	$17.50	32.4%	9.3%	33.0%	26.8%	0.0%	-5.1%	-3.2%	-19.5K	490.2K	-3.2K	0.00	51.33	10	0	550	878
2008-06-19	$17.33	$17.50	30.2%	8.7%	33.1%	23.6%	30.3%	8.7%	-2.5%	-20.2K	455.3K	-3.3K	0.00	41.86	0	21	554	878
2008-06-20	$16.96	$17.50	24.9%	7.1%	33.6%	15.6%	20.4%	-4.5%	-2.1%	-19.7K	496.6K	-3.1K	0.00	53.67	0	96	554	874
2008-06-23	$16.52	$17.50	20.8%	6.0%	34.3%	9.5%	0.0%	-1.5%	10.2%	-23.1K	703.1K	-3.2K	0.28	67.78	25	7	521	940
2008-06-24	$16.41	$17.50	19.9%	5.7%	33.4%	8.1%	0.0%	15.8%	13.7%	-27.0K	703.7K	-2.9K	0.00	17.41	0	0	546	947
2008-06-25	$16.53	$17.50	21.6%	6.2%	33.8%	10.7%	0.0%	-2.1%	11.5%	-24.7K	724.8K	-3.1K	0.00	17.96	0	0	546	947
2008-06-26	$15.93	$17.50	35.7%	10.2%	34.9%	31.9%	35.5%	0.0%	-1.9%	-28.1K	824.6K	-2.7K	0.88	34.20	25	22	546	947
2008-06-27	$15.90	$17.50	39.7%	11.4%	35.0%	37.9%	39.7%	14.5%	-5.4%	-27.5K	870.0K	-2.7K	10.00	30.90	1	10	546	947
2008-06-30	$15.76	$17.50	36.0%	10.3%	34.9%	32.3%	0.0%	0.0%	-1.2%	-29.9K	901.4K	-2.5K	0.00	25.59	0	10	552	959