BDN Options History — June 2012

In June 2012, BDN traded between $10.93 and $12.34. ATM implied volatility averaged 37.5%, placing in the 22.1% IV rank vs the trailing year. The 30-day expected move averaged 8.6%. IV traded above realized volatility by 10.3% (HV 20d: 27.2%). Max pain ranged from $10.00 to $10.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 0.05.

Notable Days

2012-06-19: Highest Volume — 114 contracts
2012-06-14: Largest IV drop — 73.1% change
2012-06-13: Highest IV Rank — 80.6%
2012-06-05: Largest Expected Move — 13.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$11.44	$10.93	$12.34	$10.99	$12.34
Max Pain	$10.00	$10.00	$10.00	$10.00	$10.00
ATM IV	37.5%	18.9%	85.8%	37.1%	18.9%
Expected Move	8.6%	5.4%	13.2%	10.7%	5.4%
HV 20d	27.2%	19.7%	31.7%	19.8%	31.7%
HV 60d	22.8%	20.0%	26.0%	20.0%	26.0%
IV Rank	22.1%	0.0%	80.6%	21.6%	0.0%
IV Percentile	44.3%	0.0%	98.0%	57.5%	0.0%
Term Structure	-4.4%	-20.2%	7.7%	5.2%	7.0%
VWIV	33.0%	19.0%	54.9%	20.0%	19.0%
Skew 25d	9.5%	-6.2%	78.5%	-6.2%	78.5%
Skew 10d	12.7%	-7.5%	110.4%	-7.5%	110.4%
Call IV 25d	27.1%	17.9%	43.1%	43.1%	26.6%
Put IV 25d	36.7%	29.3%	105.1%	36.8%	105.1%
Bid-Ask Spread %	107.85	101.21	112.34	108.69	112.34
Gamma HHI	0.85	0.63	1.00	0.71	1.00
Net GEX	8.8K	4.9K	21.4K	5.4K	21.4K
Net DEX	-134.4K	-256.0K	-84.5K	-92.7K	-256.0K
Net VEX	-743	-957	-590	-701	-957
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.05	0.00	0.46	0.00	0.46
Total Volume	10.381	0	114	0	35
Total OI	845.048	798	923	798	923

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
2012-06-01	$10.99	$0.00	37.1%	10.7%	19.8%	21.6%	0.0%	-6.2%	5.2%	5.4K	-92.7K	-701	0.00	108.69	0	0	357	441
2012-06-04	$10.93	$10.00	38.8%	12.3%	19.7%	23.6%	0.0%	14.9%	-11.2%	5.2K	-84.5K	-646	0.00	104.90	0	0	357	441
2012-06-05	$11.23	$10.00	44.0%	13.2%	22.6%	29.9%	0.0%	20.3%	-13.5%	6.1K	-113.6K	-732	0.00	106.25	0	0	357	441
2012-06-06	$11.60	$10.00	33.4%	6.0%	25.8%	17.1%	0.0%	10.7%	6.2%	8.4K	-129.6K	-637	0.00	109.01	5	0	357	441
2012-06-07	$11.39	$10.00	45.9%	6.1%	26.5%	32.3%	0.0%	3.6%	2.4%	6.5K	-126.5K	-779	0.00	109.63	0	0	357	441
2012-06-08	$11.49	$10.00	44.1%	6.4%	26.8%	30.0%	0.0%	6.9%	1.8%	7.8K	-126.2K	-697	0.00	109.09	2	0	357	441
2012-06-11	$11.20	$10.00	69.9%	12.0%	27.9%	61.2%	20.0%	9.8%	-20.2%	5.9K	-112.1K	-743	0.00	102.58	29	0	359	441
2012-06-12	$11.16	$10.00	72.3%	10.6%	27.6%	64.2%	0.0%	9.8%	-10.4%	6.5K	-99.7K	-610	0.00	102.24	0	0	359	441
2012-06-13	$11.20	$10.00	85.8%	11.9%	27.6%	80.6%	0.0%	12.6%	-17.3%	6.2K	-109.3K	-687	0.00	101.21	0	0	359	441
2012-06-14	$11.49	$10.00	23.1%	6.6%	29.1%	4.6%	0.0%	7.3%	-6.3%	7.8K	-122.8K	-590	0.00	109.97	8	0	359	441
2012-06-15	$11.59	$10.00	25.6%	7.3%	27.5%	7.7%	0.0%	17.2%	5.6%	8.7K	-132.4K	-659	0.00	101.88	0	0	367	441
2012-06-18	$11.80	$10.00	19.8%	5.7%	27.3%	0.6%	21.9%	12.4%	-4.7%	10.3K	-141.1K	-607	0.00	109.60	0	1	367	441
2012-06-19	$11.72	$10.00	19.3%	5.5%	26.9%	0.0%	0.0%	-4.2%	6.5%	4.9K	-139.4K	-949	0.05	109.11	109	5	367	441
2012-06-20	$11.69	$10.00	20.4%	5.9%	26.8%	1.4%	0.0%	3.4%	-5.1%	11.8K	-169.3K	-824	0.00	110.01	0	0	466	446
2012-06-21	$11.33	$10.00	27.5%	7.9%	29.1%	9.9%	54.9%	0.6%	-9.8%	9.4K	-141.7K	-865	0.00	108.88	7	0	466	446
2012-06-22	$11.25	$10.00	31.5%	9.0%	29.2%	14.8%	0.0%	-1.7%	7.7%	9.0K	-127.3K	-732	0.00	109.35	0	0	471	446
2012-06-25	$11.14	$10.00	37.2%	10.7%	29.3%	21.7%	0.0%	-5.9%	-6.0%	8.9K	-120.7K	-735	0.00	109.72	0	0	471	446
2012-06-26	$11.21	$10.00	42.0%	12.0%	28.7%	27.5%	0.0%	-4.3%	-16.3%	9.3K	-125.8K	-780	0.00	109.33	1	0	471	446
2012-06-27	$11.59	$10.00	27.3%	7.8%	29.8%	9.8%	49.5%	5.8%	-7.6%	11.5K	-159.4K	-835	0.00	109.59	6	0	472	446
2012-06-28	$11.92	$10.00	23.7%	6.8%	31.2%	5.4%	0.0%	8.4%	-6.5%	14.4K	-192.0K	-835	0.00	111.47	10	0	472	446
2012-06-29	$12.34	$10.00	18.9%	5.4%	31.7%	0.0%	19.0%	78.5%	7.0%	21.4K	-256.0K	-957	0.46	112.34	24	11	477	446