BDN Options History — October 2013

In October 2013, BDN traded between $12.67 and $14.35. ATM implied volatility averaged 21.5%, placing in the 21.1% IV rank vs the trailing year. The 30-day expected move averaged 6.3%. IV traded below realized volatility by 2.8% (HV 20d: 24.4%). Max pain ranged from $12.50 to $15.00. Net GEX was positive for 15 of 23 trading days. Term structure was in contango for 13 of 23 days. Put/call ratio averaged 0.00.

Notable Days

2013-10-25: Highest Volume — 24 contracts
2013-10-08: Largest IV spike — 58.2% change
2013-10-01: Highest IV Rank — 34.7%
2013-10-01: Largest Expected Move — 8.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$13.52	$12.67	$14.35	$13.27	$14.23
Max Pain	$12.75	$12.50	$15.00	$12.50	$12.50
ATM IV	21.5%	15.6%	27.8%	27.8%	23.3%
Expected Move	6.3%	4.5%	8.0%	8.0%	6.7%
HV 20d	24.4%	21.0%	26.1%	23.8%	23.7%
HV 60d	24.4%	23.0%	25.2%	23.6%	25.1%
IV Rank	21.1%	8.2%	34.7%	34.7%	25.0%
IV Percentile	58.5%	24.2%	86.9%	86.9%	68.7%
Term Structure	1.3%	-13.0%	9.5%	-13.0%	-7.2%
VWIV	26.0%	25.7%	26.2%	26.2%	25.7%
Skew 25d	8.9%	-7.7%	59.7%	-7.7%	9.6%
Skew 10d	22.5%	-5.9%	113.1%	8.5%	5.8%
Call IV 25d	20.6%	11.9%	26.8%	26.4%	25.8%
Put IV 25d	29.5%	17.7%	85.8%	18.7%	35.4%
Bid-Ask Spread %	27.60	7.12	107.70	9.04	107.65
Gamma HHI	0.74	0.51	0.93	0.84	0.89
Net GEX	346	-3.7K	4.0K	4.0K	2.1K
Net DEX	-1.9K	-22.3K	40.4K	-12.2K	-21.3K
Net VEX	-211	-406	-129	-299	-399
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	3.696	0	24	0	0
Total OI	235.565	70	351	351	147

Daily Data (23 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	Spread %	Call Vol	Put Vol	Call OI	Put OI
2013-10-01	$13.27	$12.50	27.8%	8.0%	23.8%	34.7%	0.0%	-7.7%	-13.0%	4.0K	-12.2K	-299	9.04	0	0	280	71
2013-10-02	$13.08	$15.00	19.9%	5.7%	24.5%	17.6%	0.0%	-4.3%	3.1%	-1.8K	29.5K	-158	10.19	0	0	250	71
2013-10-03	$12.83	$15.00	26.1%	7.5%	24.6%	31.2%	0.0%	0.8%	1.3%	-2.4K	40.4K	-160	16.57	0	0	250	71
2013-10-04	$12.91	$0.00	22.2%	7.3%	23.1%	22.6%	0.0%	38.6%	-0.2%	-2.3K	37.2K	-154	15.60	0	0	250	71
2013-10-07	$12.97	$0.00	17.4%	7.4%	21.0%	12.2%	0.0%	27.0%	0.4%	-2.5K	10.9K	-143	11.47	0	0	250	56
2013-10-08	$12.70	$0.00	27.6%	7.5%	22.2%	34.4%	26.2%	59.7%	-0.8%	-1.5K	24.2K	-155	96.95	0	1	250	56
2013-10-09	$12.67	$12.50	27.1%	7.4%	22.0%	33.3%	25.7%	6.1%	-0.3%	-3.7K	27.1K	-129	10.71	7	0	250	57
2013-10-10	$13.14	$12.50	23.1%	6.6%	25.0%	24.5%	0.0%	18.4%	8.2%	-688	877	-147	16.17	0	0	257	57
2013-10-11	$13.39	$12.50	23.7%	6.8%	25.8%	25.8%	0.0%	8.2%	5.7%	720	-4.9K	-154	17.23	0	0	257	57
2013-10-14	$13.34	$12.50	22.6%	6.5%	25.6%	23.4%	0.0%	6.3%	8.4%	189	-5.6K	-160	19.07	0	0	257	57
2013-10-15	$13.21	$12.50	25.4%	7.3%	25.9%	29.6%	0.0%	1.8%	0.5%	-228	-2.2K	-138	56.74	0	0	257	57
2013-10-16	$13.51	$12.50	17.5%	5.0%	23.2%	12.3%	0.0%	-1.3%	8.3%	890	-8.3K	-147	7.94	0	0	257	57
2013-10-17	$13.84	$12.50	18.1%	5.2%	24.7%	13.8%	0.0%	3.4%	8.7%	2.4K	-14.7K	-164	8.68	0	0	257	57
2013-10-18	$13.75	$12.50	19.3%	5.5%	24.2%	16.3%	0.0%	1.4%	8.8%	1.1K	-13.4K	-166	7.96	0	0	257	57
2013-10-21	$13.65	$12.50	19.4%	5.6%	24.2%	16.6%	0.0%	0.4%	-1.1%	1.1K	-11.0K	-152	9.02	12	0	54	16
2013-10-22	$13.79	$12.50	19.4%	5.5%	24.4%	16.4%	0.0%	2.7%	5.1%	1.4K	-16.6K	-190	9.64	0	0	66	16
2013-10-23	$13.79	$12.50	22.2%	6.4%	24.4%	22.7%	0.0%	2.5%	-9.2%	1.5K	-18.3K	-199	41.76	0	0	66	16
2013-10-24	$14.15	$12.50	16.5%	4.7%	25.8%	10.2%	0.0%	6.9%	-2.0%	1.5K	-21.4K	-208	11.47	0	21	66	16
2013-10-25	$14.35	$12.50	16.9%	4.9%	26.1%	11.1%	0.0%	9.0%	9.5%	605	-6.0K	-269	9.45	24	0	66	37
2013-10-28	$14.23	$12.50	15.6%	4.5%	25.4%	8.2%	0.0%	4.0%	5.8%	1.5K	-17.3K	-355	7.12	20	0	90	37
2013-10-29	$14.10	$12.50	19.4%	5.6%	25.7%	16.6%	0.0%	3.5%	-0.1%	2.1K	-22.3K	-406	26.75	0	0	110	37
2013-10-30	$14.06	$12.50	24.5%	7.0%	25.0%	27.6%	0.0%	6.8%	-8.8%	2.0K	-19.1K	-391	107.70	0	0	110	37
2013-10-31	$14.23	$12.50	23.3%	6.7%	23.7%	25.0%	0.0%	9.6%	-7.2%	2.1K	-21.3K	-399	107.65	0	0	110	37