BDN Options History — October 2010

In October 2010, BDN traded between $11.95 and $12.99. ATM implied volatility averaged 36.4%, placing in the 36.1% IV rank vs the trailing year. The 30-day expected move averaged 9.8%. IV traded above realized volatility by 10.7% (HV 20d: 25.7%). Max pain ranged from $12.50 to $12.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.38.

Notable Days

2010-10-20: Highest Volume — 55 contracts
2010-10-11: Largest IV spike — 40.9% change
2010-10-12: Highest IV Rank — 84.8%
2010-10-25: Largest Expected Move — 11.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$12.34	$11.95	$12.99	$12.09	$11.97
Max Pain	$12.50	$12.50	$12.50	$12.50	$12.50
ATM IV	36.4%	25.6%	54.5%	27.6%	25.6%
Expected Move	9.8%	7.3%	11.9%	7.9%	7.3%
HV 20d	25.7%	16.7%	30.5%	30.5%	24.5%
HV 60d	29.5%	27.4%	32.4%	32.4%	29.0%
IV Rank	36.1%	7.1%	84.8%	10.9%	7.1%
IV Percentile	32.7%	1.6%	92.9%	3.6%	1.6%
Term Structure	-1.4%	-22.0%	31.2%	18.5%	-1.0%
VWIV	34.3%	22.7%	40.3%	35.2%	22.7%
Skew 25d	10.1%	-11.4%	34.7%	22.3%	11.4%
Skew 10d	14.1%	0.8%	52.6%	13.6%	14.8%
Call IV 25d	31.0%	21.3%	45.9%	24.4%	29.2%
Put IV 25d	41.2%	30.0%	67.5%	46.7%	40.6%
Bid-Ask Spread %	128.93	98.46	162.31	128.91	161.32
Gamma HHI	0.83	0.64	0.93	0.89	0.83
Net GEX	13.8K	4.3K	26.1K	18.0K	8.7K
Net DEX	-134.2K	-225.3K	-54.5K	-107.5K	-64.0K
Net VEX	-922	-1.1K	-660	-1.1K	-789
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.38	0.00	2.50	0.00	2.50
Total Volume	12.286	0	55	0	5
Total OI	708.19	451	943	873	514

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
2010-10-01	$12.09	$12.50	27.6%	7.9%	30.5%	10.9%	0.0%	22.3%	18.5%	18.0K	-107.5K	-1.1K	0.00	128.91	0	0	606	267
2010-10-04	$12.10	$12.50	29.5%	10.1%	29.9%	17.5%	35.2%	-0.4%	-0.3%	18.7K	-98.4K	-1.0K	0.00	108.84	10	0	606	267
2010-10-05	$12.15	$12.50	40.5%	7.6%	29.4%	47.3%	27.1%	22.2%	4.7%	19.0K	-111.0K	-995	0.00	137.82	10	0	616	267
2010-10-06	$12.12	$12.50	34.0%	8.1%	29.3%	29.7%	0.0%	0.1%	2.7%	19.4K	-111.0K	-1.0K	0.00	122.13	5	0	626	267
2010-10-07	$12.12	$12.50	40.8%	10.6%	29.2%	48.0%	36.5%	0.7%	-2.8%	17.9K	-129.9K	-1.0K	0.00	123.74	1	0	631	267
2010-10-08	$12.11	$12.50	30.8%	9.5%	28.8%	21.1%	33.3%	0.2%	0.6%	21.4K	-97.5K	-993	0.00	116.49	10	0	632	266
2010-10-11	$12.10	$12.50	43.4%	10.3%	27.2%	55.0%	0.0%	0.1%	-0.9%	19.9K	-108.1K	-956	0.00	104.30	5	0	632	266
2010-10-12	$12.23	$12.50	54.5%	10.6%	27.4%	84.8%	37.7%	20.9%	-5.3%	20.9K	-146.0K	-931	0.00	120.01	0	25	635	266
2010-10-13	$12.25	$12.50	42.1%	10.4%	27.4%	51.5%	36.4%	2.6%	-1.6%	26.1K	-130.7K	-947	0.00	98.46	18	0	635	275
2010-10-14	$12.12	$12.50	32.7%	9.4%	27.6%	26.1%	33.2%	8.7%	6.1%	16.8K	-147.0K	-956	2.00	143.05	5	10	653	275
2010-10-15	$12.15	$12.50	31.9%	9.1%	27.5%	23.9%	33.7%	7.8%	-1.4%	19.9K	-142.0K	-928	1.25	143.26	4	5	658	285
2010-10-18	$12.40	$12.50	33.5%	9.6%	27.4%	28.2%	33.6%	34.7%	-1.5%	4.3K	-79.0K	-778	0.00	133.33	26	0	285	166
2010-10-19	$12.37	$12.50	36.4%	10.4%	26.3%	36.1%	36.4%	16.2%	-3.7%	5.7K	-116.2K	-908	0.04	120.75	28	1	311	166
2010-10-20	$12.76	$12.50	38.6%	11.1%	26.9%	42.1%	38.8%	23.0%	-8.8%	6.3K	-150.0K	-903	0.17	108.05	47	8	316	165
2010-10-21	$12.92	$12.50	31.2%	8.9%	23.0%	22.0%	28.0%	4.9%	2.4%	9.5K	-221.3K	-893	0.15	141.28	20	3	350	158
2010-10-22	$12.93	$12.50	37.3%	10.7%	17.5%	38.6%	37.2%	13.1%	-19.4%	7.7K	-206.0K	-911	0.00	119.81	4	0	346	158
2010-10-25	$12.99	$12.50	41.4%	11.9%	16.7%	49.5%	0.0%	14.4%	-21.3%	8.0K	-225.3K	-891	0.00	133.87	0	0	350	158
2010-10-26	$12.81	$12.50	40.4%	11.6%	17.6%	46.9%	40.3%	5.3%	-4.7%	8.3K	-193.6K	-872	0.00	142.22	1	0	350	158
2010-10-27	$12.46	$12.50	39.0%	11.2%	20.4%	43.2%	38.9%	-11.4%	31.2%	7.0K	-178.7K	-919	2.50	137.70	2	5	351	158
2010-10-28	$11.95	$12.50	33.5%	9.6%	24.9%	28.3%	0.0%	16.2%	-22.0%	6.1K	-54.5K	-660	0.00	162.31	0	0	351	163
2010-10-29	$11.97	$12.50	25.6%	7.3%	24.5%	7.1%	22.7%	11.4%	-1.0%	8.7K	-64.0K	-789	0.00	161.32	0	5	351	163