BDN Options History — December 2013

In December 2013, BDN traded between $13.11 and $14.20. ATM implied volatility averaged 26.9%, placing in the 37.2% IV rank vs the trailing year. The 30-day expected move averaged 7.4%. IV traded above realized volatility by 9.8% (HV 20d: 17.1%). Max pain ranged from $15.00 to $15.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 0.00.

Notable Days

2013-12-31: Highest Volume — 10 contracts
2013-12-30: Largest IV spike — 126.1% change
2013-12-30: Highest IV Rank — 100.0%
2013-12-30: Largest Expected Move — 17.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$13.54	$13.11	$14.20	$13.27	$14.09
Max Pain	$15.00	$15.00	$15.00	$15.00	$15.00
ATM IV	26.9%	16.3%	60.9%	16.3%	26.1%
Expected Move	7.4%	4.7%	17.5%	4.7%	7.5%
HV 20d	17.1%	12.8%	20.7%	16.5%	20.7%
HV 60d	20.9%	19.5%	21.7%	21.7%	21.0%
IV Rank	37.2%	11.6%	100.0%	11.6%	29.1%
IV Percentile	72.1%	26.6%	100.0%	26.6%	77.4%
Term Structure	-1.6%	-11.5%	11.5%	11.5%	-11.5%
Skew 25d	6.0%	-7.8%	22.7%	-0.9%	-0.8%
Skew 10d	11.8%	-10.7%	104.5%	-3.3%	-1.1%
Call IV 25d	24.7%	19.0%	32.4%	19.0%	29.2%
Put IV 25d	30.8%	18.1%	50.9%	18.1%	28.4%
Bid-Ask Spread %	97.73	13.04	111.88	13.04	44.67
Gamma HHI	0.93	0.82	1.00	0.97	0.97
Net GEX	1.5K	1.2K	1.9K	1.2K	1.8K
Net DEX	16.6K	-6.0K	31.3K	23.5K	8.3K
Net VEX	-206	-259	-147	-211	-223
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	0.667	0	10	0	10
Total OI	131.524	129	133	129	133

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	Spread %	Call Vol	Call OI	Put OI
2013-12-02	$13.27	$0.00	16.3%	4.7%	16.5%	11.6%	0.0%	-0.9%	11.5%	1.2K	23.5K	-211	13.04	0	88	41
2013-12-03	$13.22	$0.00	24.2%	6.9%	16.3%	32.0%	0.0%	-4.7%	5.1%	1.3K	25.3K	-192	108.55	0	88	41
2013-12-04	$13.20	$0.00	23.8%	6.8%	15.8%	31.1%	0.0%	-7.8%	1.9%	1.2K	26.6K	-183	107.95	0	88	41
2013-12-05	$13.23	$0.00	24.1%	6.9%	14.5%	31.8%	0.0%	-3.2%	3.1%	1.3K	30.7K	-168	108.91	0	88	41
2013-12-06	$13.31	$15.00	28.2%	7.4%	13.7%	42.3%	0.0%	1.8%	-5.7%	1.3K	23.2K	-198	104.04	0	88	41
2013-12-09	$13.31	$15.00	28.2%	5.7%	12.8%	42.2%	0.0%	2.6%	7.2%	1.4K	31.3K	-157	103.46	0	88	41
2013-12-10	$13.45	$15.00	34.0%	7.2%	13.4%	57.2%	0.0%	9.6%	6.6%	1.4K	23.0K	-198	101.26	1	88	41
2013-12-11	$13.11	$15.00	30.7%	7.5%	16.1%	48.7%	0.0%	0.7%	-7.8%	1.3K	26.3K	-175	103.18	3	89	41
2013-12-12	$13.15	$15.00	23.0%	6.6%	15.0%	28.9%	0.0%	1.2%	0.1%	1.4K	30.2K	-154	103.83	0	92	41
2013-12-13	$13.21	$15.00	19.7%	5.7%	14.7%	20.4%	0.0%	-0.8%	5.5%	1.6K	30.7K	-147	103.61	0	92	41
2013-12-16	$13.21	$15.00	24.9%	7.1%	13.5%	33.8%	0.0%	-0.2%	-1.7%	1.4K	26.3K	-172	104.29	0	92	41
2013-12-17	$13.38	$15.00	29.4%	8.4%	14.4%	45.3%	0.0%	6.0%	-3.4%	1.5K	23.1K	-193	100.58	0	92	41
2013-12-18	$13.86	$15.00	19.3%	5.5%	19.1%	19.2%	0.0%	14.2%	3.8%	1.6K	8.7K	-241	99.97	0	92	41
2013-12-19	$13.61	$15.00	35.4%	10.2%	19.2%	61.0%	0.0%	7.6%	-9.1%	1.6K	11.3K	-236	105.33	0	92	41
2013-12-20	$13.91	$15.00	23.4%	6.7%	20.6%	29.8%	0.0%	12.3%	-3.5%	1.7K	7.6K	-240	105.00	0	92	41
2013-12-23	$13.91	$15.00	21.3%	6.1%	20.6%	24.6%	0.0%	17.0%	-3.6%	1.8K	-676	-259	104.68	0	92	41
2013-12-24	$13.85	$15.00	22.1%	6.3%	20.6%	26.5%	0.0%	12.8%	-10.0%	1.7K	3.7K	-243	104.55	0	92	41
2013-12-26	$13.95	$15.00	22.3%	6.4%	20.6%	27.1%	0.0%	17.7%	-7.9%	1.8K	572	-248	104.61	0	92	41
2013-12-27	$14.01	$15.00	27.0%	7.7%	20.4%	39.1%	0.0%	22.7%	-4.6%	1.7K	-6.0K	-243	108.93	0	92	41
2013-12-30	$14.20	$15.00	60.9%	17.5%	20.3%	100.0%	0.0%	18.9%	-9.4%	1.9K	-4.8K	-246	111.88	0	92	41
2013-12-31	$14.09	$15.00	26.1%	7.5%	20.7%	29.1%	0.0%	-0.8%	-11.5%	1.8K	8.3K	-223	44.67	10	92	41