BDN Options History — October 2014

In October 2014, BDN traded between $13.97 and $15.43. ATM implied volatility averaged 23.1%, placing in the 11.7% IV rank vs the trailing year. The 30-day expected move averaged 6.1%. IV traded above realized volatility by 6.4% (HV 20d: 16.6%). Max pain ranged from $15.00 to $15.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 9 of 23 days. Put/call ratio averaged 0.32.

Notable Days

2014-10-08: Highest Volume — 78 contracts
2014-10-15: Largest IV spike — 36.1% change
2014-10-15: Highest IV Rank — 22.9%
2014-10-27: Largest Expected Move — 6.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$14.58	$13.97	$15.43	$14.11	$15.43
Max Pain	$15.00	$15.00	$15.00	$15.00	$15.00
ATM IV	23.1%	17.7%	32.2%	25.9%	21.5%
Expected Move	6.1%	5.7%	6.4%	6.0%	6.2%
HV 20d	16.6%	14.6%	20.1%	19.2%	14.9%
HV 60d	16.5%	15.7%	17.4%	15.7%	17.4%
IV Rank	11.7%	5.0%	22.9%	15.2%	9.7%
IV Percentile	57.5%	11.5%	90.5%	80.2%	50.4%
Term Structure	-0.9%	-12.7%	6.9%	-9.4%	4.1%
VWIV	21.4%	19.6%	22.5%	20.2%	22.0%
Skew 25d	3.7%	-7.1%	103.8%	1.5%	-3.1%
Skew 10d	3.8%	-11.3%	139.3%	1.1%	-6.3%
Call IV 25d	25.4%	16.6%	29.7%	29.7%	27.5%
Put IV 25d	29.1%	16.9%	128.8%	31.2%	24.4%
Bid-Ask Spread %	96.00	70.06	99.38	98.22	98.64
Gamma HHI	0.63	0.41	0.84	0.66	0.53
Net GEX	2.8K	134	8.5K	2.0K	1.7K
Net DEX	42.2K	-36.2K	106.4K	101.5K	-36.2K
Net VEX	-263	-314	-168	-181	-291
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.32	0.00	0.47	0.00	0.31
Total Volume	44.13	0	78	0	47
Total OI	184.087	90	260	219	106

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	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2014-10-01	$14.11	$15.00	25.9%	6.0%	19.2%	15.2%	0.0%	1.5%	-9.4%	2.0K	101.5K	-181	0.00	98.22	0	0	110	109
2014-10-02	$13.97	$15.00	26.8%	6.1%	19.2%	16.3%	0.0%	1.5%	-12.7%	1.9K	101.3K	-182	0.00	97.24	6	0	110	109
2014-10-03	$14.07	$15.00	20.2%	6.3%	19.2%	8.2%	20.2%	18.0%	4.4%	2.3K	103.9K	-168	0.00	97.09	0	5	116	109
2014-10-06	$14.09	$15.00	22.0%	5.7%	19.0%	10.4%	0.0%	-5.5%	-2.6%	2.1K	106.4K	-179	0.00	75.84	0	0	116	114
2014-10-07	$14.01	$15.00	27.9%	5.9%	19.0%	17.7%	19.6%	1.1%	1.6%	2.2K	102.4K	-184	0.00	97.87	30	0	116	114
2014-10-08	$14.26	$15.00	28.3%	5.8%	20.0%	18.1%	20.0%	-0.2%	-3.2%	4.8K	80.1K	-314	0.47	96.68	53	25	146	114
2014-10-09	$14.29	$15.00	18.1%	5.8%	20.1%	5.7%	20.0%	-1.3%	-1.2%	3.7K	91.5K	-286	0.47	98.13	53	25	146	114
2014-10-10	$14.37	$15.00	20.4%	6.2%	15.2%	8.5%	21.7%	0.2%	-1.6%	5.0K	86.4K	-303	0.47	98.09	53	25	146	114
2014-10-13	$14.37	$15.00	23.9%	6.2%	14.6%	12.7%	21.6%	-0.1%	-3.1%	4.5K	88.8K	-286	0.47	98.40	53	25	146	114
2014-10-14	$14.58	$15.00	23.7%	6.2%	15.2%	12.4%	21.7%	103.8%	-0.1%	8.5K	77.0K	-297	0.47	97.72	53	25	146	114
2014-10-15	$14.50	$15.00	32.2%	6.2%	15.3%	22.9%	21.7%	0.5%	-2.4%	7.1K	77.6K	-289	0.47	97.33	53	25	146	114
2014-10-16	$14.38	$15.00	26.6%	6.2%	14.6%	16.0%	0.0%	-0.4%	-3.7%	5.8K	75.9K	-287	0.00	98.82	0	4	146	113
2014-10-17	$14.22	$15.00	21.6%	6.2%	14.9%	9.9%	0.0%	-0.9%	-1.9%	214	97.1K	-258	0.00	97.34	0	9	146	113
2014-10-20	$14.26	$15.00	21.7%	6.3%	14.7%	10.0%	21.7%	-5.9%	-2.6%	134	5.0K	-249	0.24	98.19	46	11	50	40
2014-10-21	$14.46	$15.00	26.2%	6.3%	14.8%	15.6%	22.1%	3.7%	-3.8%	838	-8.3K	-292	0.24	99.35	46	11	62	40
2014-10-22	$14.65	$15.00	23.5%	6.3%	15.4%	12.2%	21.9%	2.5%	-0.1%	952	-11.4K	-294	0.30	99.38	37	11	62	40
2014-10-23	$15.05	$15.00	20.6%	6.1%	17.4%	8.7%	21.3%	-5.4%	0.1%	1.6K	-24.2K	-255	0.30	97.58	37	11	65	40
2014-10-24	$15.17	$15.00	21.7%	6.2%	17.1%	10.0%	21.7%	-5.1%	1.3%	1.5K	-25.0K	-298	0.30	98.84	37	11	65	40
2014-10-27	$15.26	$15.00	20.0%	6.4%	16.9%	7.9%	22.5%	-6.7%	2.9%	1.5K	-27.3K	-298	0.31	98.58	36	11	65	40
2014-10-28	$15.27	$15.00	20.1%	6.3%	15.6%	8.1%	22.3%	-2.3%	6.9%	1.6K	-28.6K	-298	0.31	99.34	36	11	66	40
2014-10-29	$15.28	$15.00	20.5%	6.2%	15.7%	8.5%	22.1%	-7.1%	2.4%	1.7K	-29.7K	-297	0.31	99.33	36	11	66	40
2014-10-30	$15.28	$15.00	17.7%	6.2%	14.9%	5.0%	21.6%	-3.3%	4.5%	1.9K	-32.8K	-253	0.31	70.06	36	11	66	40
2014-10-31	$15.43	$15.00	21.5%	6.2%	14.9%	9.7%	22.0%	-3.1%	4.1%	1.7K	-36.2K	-291	0.31	98.64	36	11	66	40