BDN Options History — April 2013

In April 2013, BDN traded between $14.59 and $15.08. ATM implied volatility averaged 16.6%, placing in the 6.4% IV rank vs the trailing year. The 30-day expected move averaged 4.8%. IV traded above realized volatility by 0.5% (HV 20d: 16.1%). Max pain ranged from $12.50 to $15.00. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 9 of 22 days. Put/call ratio averaged 0.17.

Notable Days

2013-04-04: Highest Volume — 90 contracts
2013-04-08: Largest IV spike — 45.1% change
2013-04-22: Highest IV Rank — 9.9%
2013-04-22: Largest Expected Move — 5.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$14.86	$14.59	$15.08	$14.90	$14.93
Max Pain	$14.77	$12.50	$15.00	$12.50	$15.00
ATM IV	16.6%	11.9%	19.2%	17.3%	17.7%
Expected Move	4.8%	3.4%	5.5%	5.0%	5.1%
HV 20d	16.1%	10.8%	19.4%	11.8%	18.6%
HV 60d	17.5%	16.4%	18.6%	16.4%	16.9%
IV Rank	6.4%	0.1%	9.9%	7.4%	8.0%
IV Percentile	21.9%	0.4%	37.7%	21.4%	28.6%
Term Structure	-0.0%	-2.9%	6.7%	-0.3%	-1.9%
VWIV	17.8%	17.1%	18.7%	17.5%	17.8%
Skew 25d	17.0%	-16.0%	102.3%	8.1%	-2.8%
Skew 10d	23.2%	-29.1%	134.2%	-0.0%	-4.8%
Call IV 25d	21.2%	16.6%	30.7%	18.6%	20.5%
Put IV 25d	38.2%	14.7%	122.0%	26.7%	17.7%
Bid-Ask Spread %	28.32	11.90	97.00	17.90	21.10
Gamma HHI	0.83	0.51	0.96	0.92	0.91
Net GEX	14.3K	-2.7K	32.1K	2.9K	27.8K
Net DEX	-152.4K	-318.4K	-42.8K	-306.9K	-173.7K
Net VEX	-1.1K	-1.3K	-905	-905	-1.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.17	0.00	1.05	0.00	0.00
Total Volume	12.136	0	90	8	0
Total OI	528	446	601	593	480

Daily Data (22 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
2013-04-01	$14.90	$12.50	17.3%	5.0%	11.8%	7.4%	0.0%	8.1%	-0.3%	2.9K	-306.9K	-905	0.00	17.90	8	0	372	221
2013-04-02	$14.94	$12.50	15.3%	4.4%	10.8%	4.7%	0.0%	-14.3%	1.0%	-2.7K	-318.4K	-933	0.00	20.84	30	0	380	221
2013-04-03	$14.72	$15.00	15.8%	4.5%	12.0%	5.3%	17.5%	4.1%	-0.7%	1.2K	-44.4K	-1.1K	0.00	27.38	19	0	238	221
2013-04-04	$14.97	$15.00	12.7%	3.6%	13.1%	1.1%	0.0%	-16.0%	6.7%	2.8K	-104.0K	-1.1K	0.00	32.94	90	0	257	221
2013-04-05	$14.85	$15.00	12.6%	5.2%	13.6%	1.1%	0.0%	2.6%	-0.3%	9.2K	-127.3K	-1.2K	0.00	31.35	1	0	337	221
2013-04-08	$14.99	$15.00	18.3%	5.2%	13.9%	8.8%	0.0%	77.1%	-0.4%	13.7K	-163.5K	-1.2K	0.00	44.96	0	0	337	221
2013-04-09	$15.06	$15.00	16.4%	4.9%	13.8%	6.2%	17.1%	76.5%	0.3%	10.2K	-180.3K	-1.2K	0.20	97.00	5	1	337	221
2013-04-10	$14.92	$15.00	17.4%	4.8%	14.4%	7.6%	0.0%	3.1%	0.9%	10.9K	-155.4K	-1.3K	0.00	11.90	0	0	337	222
2013-04-11	$14.93	$15.00	17.6%	5.1%	14.4%	7.9%	0.0%	3.1%	0.1%	7.9K	-153.8K	-1.2K	0.00	34.68	0	0	337	222
2013-04-12	$15.08	$15.00	18.4%	5.3%	14.2%	8.9%	0.0%	62.1%	-0.9%	10.9K	-182.9K	-1.2K	0.00	17.58	0	0	337	222
2013-04-15	$14.66	$15.00	14.4%	4.1%	17.7%	3.5%	0.0%	0.9%	2.0%	14.6K	-87.6K	-1.2K	0.00	21.72	15	0	337	222
2013-04-16	$14.80	$15.00	18.7%	5.4%	17.9%	9.3%	0.0%	3.4%	-0.9%	9.7K	-113.6K	-1.1K	0.00	28.58	0	0	352	222
2013-04-17	$14.68	$15.00	18.4%	5.3%	18.1%	8.8%	0.0%	85.2%	-1.2%	11.9K	-72.8K	-1.1K	0.00	18.45	0	0	352	222
2013-04-18	$14.59	$15.00	18.3%	5.3%	17.5%	8.8%	18.7%	102.3%	-0.4%	11.7K	-42.8K	-1.1K	1.05	17.25	19	20	337	222
2013-04-19	$14.93	$15.00	16.1%	4.6%	19.2%	5.8%	0.0%	-4.0%	0.3%	11.6K	-127.8K	-1.0K	0.00	42.96	0	0	337	231
2013-04-22	$14.82	$15.00	19.2%	5.5%	19.4%	9.9%	0.0%	1.8%	-2.1%	21.8K	-173.2K	-1.1K	0.00	21.56	0	0	316	130
2013-04-23	$14.79	$15.00	18.6%	5.3%	19.4%	9.2%	0.0%	-1.7%	-2.9%	22.6K	-172.5K	-1.1K	0.64	20.73	28	18	316	130
2013-04-24	$14.81	$15.00	17.7%	5.1%	18.3%	7.9%	17.8%	-3.9%	-0.8%	24.2K	-153.9K	-1.1K	0.00	19.08	1	0	334	148
2013-04-25	$14.90	$15.00	16.4%	4.7%	18.3%	6.2%	0.0%	0.1%	-1.8%	27.6K	-178.4K	-1.1K	0.00	26.12	0	0	334	148
2013-04-26	$14.78	$15.00	11.9%	3.4%	18.5%	0.1%	0.0%	-10.9%	1.7%	31.2K	-151.4K	-1.1K	0.00	25.84	0	0	334	148
2013-04-29	$14.90	$15.00	15.0%	4.3%	18.7%	4.3%	0.0%	-3.4%	0.6%	32.1K	-168.3K	-1.0K	0.00	23.09	12	0	334	148
2013-04-30	$14.93	$15.00	17.7%	5.1%	18.6%	8.0%	0.0%	-2.8%	-1.9%	27.8K	-173.7K	-1.1K	0.00	21.10	0	0	332	148