BDN Options History — October 2012

In October 2012, BDN traded between $11.59 and $12.66. ATM implied volatility averaged 22.4%, placing in the 7.7% IV rank vs the trailing year. The 30-day expected move averaged 6.6%. IV traded above realized volatility by 8.2% (HV 20d: 14.2%). 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 11 of 21 days. Put/call ratio averaged 0.12.

Notable Days

2012-10-19: Highest Volume — 60 contracts
2012-10-24: Largest IV spike — 36.1% change
2012-10-31: Highest IV Rank — 15.1%
2012-10-31: Largest Expected Move — 8.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$12.22	$11.59	$12.66	$12.10	$11.61
Max Pain	$12.50	$12.50	$12.50	$12.50	$12.50
ATM IV	22.4%	17.8%	28.8%	22.5%	28.8%
Expected Move	6.6%	5.1%	8.3%	6.5%	8.3%
HV 20d	14.2%	12.3%	17.1%	13.6%	17.1%
HV 60d	16.8%	14.9%	19.1%	18.8%	14.9%
IV Rank	7.7%	2.2%	15.1%	7.8%	15.1%
IV Percentile	22.4%	1.2%	56.3%	21.0%	56.3%
Term Structure	-0.0%	-9.0%	8.8%	7.9%	-9.0%
VWIV	21.4%	19.3%	24.0%	24.0%	19.3%
Skew 25d	23.4%	-9.7%	89.1%	16.1%	9.8%
Skew 10d	27.5%	-20.1%	135.2%	5.6%	7.7%
Call IV 25d	26.9%	19.9%	30.1%	21.0%	30.0%
Put IV 25d	50.3%	15.5%	118.4%	37.1%	39.7%
Bid-Ask Spread %	97.79	31.47	112.88	111.29	108.78
Gamma HHI	1.00	0.98	1.00	1.00	0.98
Net GEX	29.6K	6.3K	87.3K	18.7K	6.3K
Net DEX	-148.6K	-287.4K	-52.1K	-121.1K	-52.1K
Net VEX	-600	-678	-434	-569	-434
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.12	0.00	1.00	0.00	1.00
Total Volume	7.905	0	60	1	2
Total OI	380.952	249	441	410	259

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
2012-10-01	$12.10	$12.50	22.5%	6.5%	13.6%	7.8%	0.0%	16.1%	7.9%	18.7K	-121.1K	-569	0.00	111.29	1	0	382	28
2012-10-02	$12.32	$12.50	22.3%	6.4%	14.6%	7.6%	0.0%	14.5%	4.2%	20.6K	-169.6K	-630	0.00	110.64	0	0	382	28
2012-10-03	$12.21	$12.50	19.2%	5.5%	14.9%	3.9%	0.0%	10.1%	7.5%	25.9K	-157.8K	-643	0.00	112.88	14	0	374	28
2012-10-04	$12.22	$12.50	19.8%	5.7%	14.7%	4.7%	0.0%	9.3%	8.8%	26.8K	-164.3K	-656	0.00	112.88	0	0	388	28
2012-10-05	$12.31	$12.50	19.6%	6.0%	14.8%	4.3%	0.0%	84.1%	3.3%	30.1K	-184.6K	-666	0.00	107.68	0	20	388	28
2012-10-08	$12.23	$12.50	18.6%	6.4%	14.7%	3.2%	0.0%	3.5%	-0.3%	30.5K	-134.4K	-678	0.00	105.39	0	0	388	48
2012-10-09	$12.27	$12.50	20.9%	6.4%	14.7%	5.9%	0.0%	89.0%	-1.8%	28.6K	-150.2K	-675	0.00	105.50	0	0	388	48
2012-10-10	$12.30	$12.50	20.1%	7.2%	14.2%	5.0%	0.0%	87.3%	-3.3%	31.2K	-154.4K	-667	0.00	105.30	0	0	388	48
2012-10-11	$12.41	$12.50	24.1%	6.9%	13.7%	9.7%	0.0%	83.0%	-3.2%	49.7K	-173.5K	-678	0.00	109.11	0	0	388	48
2012-10-12	$12.37	$12.50	23.8%	6.8%	12.3%	9.2%	0.0%	4.6%	0.5%	37.9K	-181.4K	-674	0.00	110.01	5	0	388	48
2012-10-15	$12.40	$12.50	25.6%	7.3%	12.4%	11.3%	0.0%	89.1%	-3.2%	42.2K	-179.8K	-643	0.00	109.11	0	10	393	48
2012-10-16	$12.41	$12.50	24.4%	7.0%	12.3%	10.0%	0.0%	4.9%	0.4%	46.6K	-193.5K	-635	0.00	110.61	0	0	393	44
2012-10-17	$12.44	$12.50	24.8%	7.1%	12.3%	10.5%	0.0%	-4.5%	-0.8%	51.1K	-201.4K	-617	0.00	109.16	0	0	393	44
2012-10-18	$12.66	$12.50	23.7%	6.8%	12.8%	9.2%	0.0%	-5.2%	1.0%	41.7K	-287.4K	-598	0.00	108.75	0	0	393	44
2012-10-19	$12.48	$12.50	24.0%	6.9%	13.4%	9.5%	24.0%	-5.5%	0.3%	87.3K	-217.1K	-574	0.00	107.11	60	0	393	44
2012-10-22	$12.34	$12.50	19.3%	5.5%	14.1%	4.0%	21.0%	-9.7%	4.0%	10.4K	-103.8K	-535	0.11	105.76	9	1	216	33
2012-10-23	$12.21	$12.50	17.8%	5.1%	13.8%	2.2%	0.0%	-7.8%	0.4%	10.4K	-91.0K	-543	0.00	103.96	11	0	225	34
2012-10-24	$12.01	$12.50	24.2%	6.9%	15.0%	9.7%	0.0%	5.8%	-1.0%	9.8K	-88.8K	-537	0.00	34.01	0	0	236	34
2012-10-25	$11.80	$12.50	23.7%	6.8%	16.1%	9.2%	19.3%	8.8%	-8.7%	8.3K	-60.8K	-484	0.00	31.47	14	0	236	34
2012-10-26	$11.59	$12.50	23.8%	6.8%	17.1%	9.3%	0.0%	4.9%	-7.0%	7.1K	-53.9K	-456	0.00	34.25	19	0	236	34
2012-10-31	$11.61	$12.50	28.8%	8.3%	17.1%	15.1%	0.0%	9.8%	-9.0%	6.3K	-52.1K	-434	1.00	108.78	1	1	225	34