BDN Options History — June 2014

In June 2014, BDN traded between $15.25 and $15.77. ATM implied volatility averaged 20.6%, placing in the 8.6% IV rank vs the trailing year. The 30-day expected move averaged 6.1%. IV traded above realized volatility by 5.6% (HV 20d: 15.0%). 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 11 of 21 days. Put/call ratio averaged 1.54.

Notable Days

2014-06-05: Highest Volume — 62 contracts
2014-06-18: Largest IV spike — 77.5% change
2014-06-18: Highest IV Rank — 26.5%
2014-06-18: Largest Expected Move — 10.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.47	$15.25	$15.77	$15.43	$15.60
Max Pain	$15.00	$15.00	$15.00	$15.00	$15.00
ATM IV	20.6%	17.4%	35.1%	22.2%	17.7%
Expected Move	6.1%	5.1%	10.1%	6.4%	5.1%
HV 20d	15.0%	12.4%	17.4%	12.4%	17.2%
HV 60d	15.7%	15.1%	16.2%	16.2%	15.6%
IV Rank	8.6%	4.7%	26.5%	10.6%	5.1%
IV Percentile	31.5%	9.5%	92.5%	47.2%	11.5%
Term Structure	0.1%	-19.4%	8.9%	2.6%	3.3%
VWIV	20.8%	19.8%	21.9%	19.8%	21.9%
Skew 25d	1.9%	-8.8%	54.5%	-2.9%	-8.8%
Skew 10d	7.3%	-11.9%	127.5%	-5.8%	-11.9%
Call IV 25d	24.0%	18.5%	30.1%	27.8%	27.0%
Put IV 25d	25.9%	18.1%	77.3%	24.8%	18.1%
Bid-Ask Spread %	86.57	25.65	111.80	105.59	86.05
Gamma HHI	0.87	0.79	0.93	0.93	0.90
Net GEX	11.2K	8.3K	13.8K	9.8K	13.2K
Net DEX	-108.5K	-169.9K	-74.4K	-145.6K	-120.9K
Net VEX	-656	-733	-603	-631	-616
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.54	0.00	4.17	4.17	0.00
Total Volume	5	0	62	0	0
Total OI	280.524	233	297	233	295

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
2014-06-02	$15.43	$15.00	22.2%	6.4%	12.4%	10.6%	0.0%	-2.9%	2.6%	9.8K	-145.6K	-631	0.00	105.59	0	0	192	41
2014-06-03	$15.47	$15.00	20.8%	6.0%	12.4%	8.9%	0.0%	-5.2%	3.5%	9.7K	-147.9K	-631	0.00	104.59	0	0	192	41
2014-06-04	$15.41	$15.00	20.6%	5.9%	12.5%	8.6%	0.0%	-5.2%	4.9%	10.0K	-140.2K	-624	0.00	99.35	0	0	192	41
2014-06-05	$15.77	$15.00	18.6%	5.3%	13.9%	6.1%	0.0%	-3.8%	8.9%	9.5K	-169.9K	-603	4.17	101.75	12	50	192	41
2014-06-06	$15.67	$15.00	21.5%	6.3%	14.2%	9.7%	19.8%	0.9%	-3.3%	8.4K	-121.9K	-733	2.00	110.76	1	2	200	91
2014-06-09	$15.47	$15.00	18.5%	6.4%	14.7%	6.0%	0.0%	5.1%	-0.6%	9.5K	-97.9K	-722	0.00	93.13	0	0	201	89
2014-06-10	$15.39	$15.00	17.4%	6.1%	14.5%	4.7%	0.0%	2.3%	0.1%	10.3K	-86.9K	-713	0.00	104.88	0	0	201	89
2014-06-11	$15.53	$15.00	18.1%	6.3%	14.9%	5.5%	0.0%	54.5%	-1.5%	10.5K	-93.2K	-695	0.00	104.69	0	0	201	89
2014-06-12	$15.55	$15.00	19.7%	5.6%	14.8%	7.5%	0.0%	1.1%	1.3%	10.9K	-103.8K	-686	0.00	105.63	0	0	201	89
2014-06-13	$15.67	$15.00	21.3%	6.1%	13.9%	9.4%	0.0%	-0.6%	-0.2%	10.6K	-111.0K	-681	0.00	102.13	0	0	201	89
2014-06-16	$15.34	$15.00	19.6%	5.6%	16.0%	7.4%	0.0%	-0.7%	0.7%	11.1K	-101.5K	-670	0.00	104.62	0	0	201	89
2014-06-17	$15.33	$15.00	19.8%	5.7%	16.0%	7.6%	0.0%	0.3%	1.6%	11.9K	-84.6K	-659	0.00	106.66	0	0	201	89
2014-06-18	$15.35	$15.00	35.1%	10.1%	15.5%	26.5%	0.0%	1.2%	-19.4%	8.3K	-92.5K	-640	0.00	111.80	0	0	201	89
2014-06-19	$15.54	$15.00	21.5%	6.2%	16.0%	9.7%	0.0%	-3.8%	-0.0%	12.1K	-98.7K	-650	0.00	106.46	0	0	201	89
2014-06-20	$15.52	$15.00	18.5%	5.3%	15.8%	6.1%	0.0%	0.7%	2.2%	12.7K	-105.9K	-634	0.00	26.68	0	0	201	89
2014-06-23	$15.35	$15.00	19.4%	5.6%	15.8%	7.2%	0.0%	1.6%	-1.1%	13.2K	-99.2K	-619	0.00	26.99	10	0	201	86
2014-06-24	$15.36	$15.00	18.2%	5.2%	15.8%	5.7%	0.0%	-1.3%	-0.4%	13.8K	-86.4K	-643	0.00	35.09	0	0	211	86
2014-06-25	$15.32	$15.00	20.2%	5.8%	15.5%	8.1%	0.0%	3.4%	-1.9%	13.7K	-95.0K	-665	0.00	25.65	0	0	211	86
2014-06-26	$15.25	$15.00	21.9%	6.3%	15.6%	10.2%	21.9%	2.2%	-0.9%	13.8K	-74.4K	-631	0.00	50.17	30	0	211	86
2014-06-27	$15.61	$15.00	22.2%	6.4%	17.4%	10.6%	0.0%	-1.9%	2.4%	12.6K	-101.9K	-634	0.00	105.37	0	0	209	86
2014-06-30	$15.60	$15.00	17.7%	5.1%	17.2%	5.1%	0.0%	-8.8%	3.3%	13.2K	-120.9K	-616	0.00	86.05	0	0	209	86