BDN Options History — August 2009

In August 2009, BDN traded between $8.41 and $11.01. ATM implied volatility averaged 57.9%, placing in the 17.3% IV rank vs the trailing year. The 30-day expected move averaged 16.2%. IV traded below realized volatility by 0.1% (HV 20d: 58.0%). Max pain ranged from $7.50 to $10.00. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 19 of 21 days. Put/call ratio averaged 2.41.

Notable Days

2009-08-18: Highest Volume — 728 contracts
2009-08-07: Largest IV spike — 33.7% change
2009-08-10: Highest IV Rank — 25.4%
2009-08-21: Largest Expected Move — 17.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$10.29	$8.41	$11.01	$8.41	$10.61
Max Pain	$9.40	$7.50	$10.00	$7.50	$10.00
ATM IV	57.9%	45.5%	71.5%	45.5%	57.1%
Expected Move	16.2%	13.0%	17.6%	13.0%	16.4%
HV 20d	58.0%	49.9%	64.6%	49.9%	64.6%
HV 60d	58.9%	54.3%	69.0%	69.0%	55.0%
IV Rank	17.3%	11.2%	25.4%	11.6%	16.7%
IV Percentile	21.7%	15.1%	31.3%	15.5%	18.7%
Term Structure	4.6%	-7.1%	25.7%	25.7%	3.7%
VWIV	56.7%	47.9%	61.2%	58.8%	57.1%
Skew 25d	16.5%	7.7%	38.8%	9.8%	22.2%
Skew 10d	32.9%	11.5%	59.7%	15.4%	51.6%
Call IV 25d	50.2%	31.8%	58.6%	48.1%	44.3%
Put IV 25d	66.6%	57.1%	74.4%	57.9%	66.5%
Bid-Ask Spread %	51.86	18.32	84.71	43.63	47.57
Gamma HHI	0.53	0.35	0.68	0.67	0.54
Net GEX	5.0K	-10.0K	11.1K	10.9K	10.9K
Net DEX	-994.8K	-1.4M	-668.1K	-668.1K	-795.8K
Net VEX	-2.5K	-2.9K	-1.9K	-2.0K	-2.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.41	0.00	17.00	0.00	7.07
Total Volume	177.524	1	728	61	121
Total OI	2,590.333	2,048	3,320	2,048	2,427

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
2009-08-03	$8.41	$7.50	45.5%	13.0%	49.9%	11.6%	0.0%	9.8%	25.7%	10.9K	-668.1K	-2.0K	0.00	43.63	61	0	1,398	650
2009-08-04	$9.22	$7.50	52.1%	14.9%	54.6%	13.8%	58.8%	8.8%	-7.1%	7.2K	-911.3K	-1.9K	0.25	26.23	151	38	1,406	650
2009-08-05	$9.88	$7.50	56.7%	16.3%	54.1%	16.5%	56.7%	8.8%	-6.9%	5.4K	-1.1M	-1.9K	0.00	42.05	167	0	1,526	660
2009-08-06	$9.99	$7.50	47.9%	13.7%	51.6%	11.2%	47.9%	7.7%	2.8%	7.7K	-1.2M	-2.2K	0.34	31.46	149	51	1,632	660
2009-08-07	$10.76	$7.50	64.0%	16.6%	50.0%	20.9%	57.8%	12.4%	6.3%	9.4K	-1.3M	-2.2K	4.43	47.14	122	540	1,582	680
2009-08-10	$10.74	$10.00	71.5%	16.8%	50.1%	25.4%	0.0%	14.0%	4.7%	7.4K	-1.3M	-2.2K	0.00	27.33	49	0	1,667	1,314
2009-08-11	$10.25	$10.00	60.3%	16.7%	55.7%	18.6%	58.2%	13.6%	6.3%	-2.5K	-1.0M	-2.7K	7.86	73.88	56	440	1,694	1,091
2009-08-12	$10.69	$10.00	65.7%	16.9%	56.3%	21.9%	50.5%	13.0%	4.8%	1.4K	-1.2M	-2.6K	2.54	84.71	13	33	1,689	1,030
2009-08-13	$10.66	$10.00	57.4%	16.5%	56.9%	16.9%	0.0%	0.0%	6.7%	-335	-1.2M	-2.6K	0.25	53.16	20	5	1,688	1,060
2009-08-14	$10.37	$10.00	54.9%	15.7%	57.7%	15.4%	54.9%	10.5%	8.1%	-1.1K	-1.1M	-2.5K	17.00	76.30	2	34	1,698	1,055
2009-08-17	$9.74	$10.00	58.3%	16.7%	61.3%	17.4%	0.0%	0.0%	4.2%	-2.4K	-754.9K	-2.5K	0.00	70.31	0	7	1,697	1,069
2009-08-18	$9.89	$10.00	57.3%	16.4%	59.7%	16.8%	57.2%	17.4%	5.8%	-10.0K	-818.6K	-2.4K	7.88	70.55	82	646	1,697	1,076
2009-08-19	$9.76	$10.00	56.9%	16.3%	60.4%	16.6%	56.9%	14.9%	4.5%	-5.5K	-698.2K	-2.8K	0.04	66.46	232	10	1,665	1,381
2009-08-20	$10.27	$10.00	58.6%	16.8%	62.0%	17.6%	58.5%	38.8%	1.0%	5.8K	-1.2M	-2.7K	0.06	61.27	463	30	1,822	1,380
2009-08-21	$10.62	$10.00	61.3%	17.6%	62.3%	19.2%	61.2%	8.5%	3.4%	7.6K	-1.4M	-2.9K	0.00	46.23	141	0	1,921	1,399
2009-08-24	$10.56	$10.00	56.2%	16.1%	62.3%	16.2%	56.0%	33.1%	3.6%	10.2K	-772.1K	-2.9K	0.00	64.21	20	0	1,347	1,058
2009-08-25	$10.86	$10.00	60.1%	17.2%	62.1%	18.5%	60.1%	17.0%	3.2%	10.1K	-827.4K	-2.8K	0.13	42.15	23	3	1,333	1,058
2009-08-26	$10.78	$10.00	58.0%	16.6%	62.4%	17.2%	57.6%	17.6%	6.0%	10.4K	-839.8K	-2.7K	0.00	18.32	1	0	1,351	1,061
2009-08-27	$10.96	$10.00	57.4%	16.5%	62.3%	16.9%	57.1%	25.3%	7.0%	10.6K	-869.8K	-2.7K	0.33	49.41	3	1	1,351	1,061
2009-08-28	$11.01	$10.00	58.6%	16.8%	62.2%	17.6%	0.0%	19.3%	3.7%	11.1K	-926.9K	-2.5K	0.00	46.71	14	0	1,352	1,061
2009-08-31	$10.61	$10.00	57.1%	16.4%	64.6%	16.7%	57.1%	22.2%	3.7%	10.9K	-795.8K	-2.7K	7.07	47.57	15	106	1,366	1,061