BDN Options History — October 2016

In October 2016, BDN traded between $14.76 and $15.54. ATM implied volatility averaged 23.5%, placing in the 23.2% IV rank vs the trailing year. The 30-day expected move averaged 6.7%. IV traded above realized volatility by 2.3% (HV 20d: 21.2%). Max pain ranged from $15.00 to $17.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 1.06.

Notable Days

2016-10-21: Highest Volume — 217 contracts
2016-10-31: Largest IV drop — 11.8% change
2016-10-10: Highest IV Rank — 28.6%
2016-10-17: Largest Expected Move — 7.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.19	$14.76	$15.54	$15.31	$15.54
Max Pain	$17.14	$15.00	$17.50	$15.00	$17.50
ATM IV	23.5%	20.7%	26.0%	22.7%	20.7%
Expected Move	6.7%	5.9%	7.1%	6.5%	5.9%
HV 20d	21.2%	17.7%	27.3%	25.6%	22.4%
HV 60d	20.3%	19.4%	21.8%	19.5%	21.8%
IV Rank	23.2%	17.1%	28.6%	21.5%	17.1%
IV Percentile	40.8%	19.4%	57.5%	31.3%	19.4%
Term Structure	-1.1%	-2.5%	4.1%	-0.3%	4.1%
VWIV	23.5%	21.9%	24.8%	23.6%	21.9%
Skew 25d	1.8%	-3.8%	5.5%	0.4%	-0.1%
Skew 10d	3.7%	-8.1%	9.5%	7.2%	-1.9%
Call IV 25d	23.4%	21.0%	28.5%	26.1%	23.8%
Put IV 25d	25.1%	23.7%	30.1%	26.6%	23.8%
Bid-Ask Spread %	14.94	11.15	25.47	25.47	19.61
Gamma HHI	0.62	0.47	0.87	0.87	0.48
Net GEX	4.2K	1.6K	8.9K	3.7K	8.8K
Net DEX	-122.8K	-255.0K	-26.6K	-144.5K	-105.0K
Net VEX	-686	-776	-545	-728	-776
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.06	0.51	2.40	0.51	2.00
Total Volume	132.048	96	217	131	96
Total OI	652.476	317	786	735	386

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
2016-10-03	$15.31	$15.00	22.7%	6.5%	25.6%	21.5%	23.6%	0.4%	-0.3%	3.7K	-144.5K	-728	0.51	25.47	87	44	433	302
2016-10-04	$15.12	$15.00	23.7%	6.8%	25.4%	23.7%	24.3%	2.3%	-0.7%	2.9K	-101.3K	-703	0.53	21.24	77	41	433	302
2016-10-05	$14.76	$15.00	24.7%	7.1%	25.5%	25.8%	24.8%	-3.8%	-2.2%	1.8K	-26.6K	-630	0.56	20.45	80	45	433	302
2016-10-06	$15.08	$17.50	22.3%	6.8%	27.3%	20.5%	23.2%	2.5%	-1.3%	2.1K	-98.6K	-717	0.55	12.09	92	51	439	306
2016-10-07	$14.99	$17.50	23.4%	6.7%	22.8%	23.1%	23.1%	2.4%	-1.6%	2.0K	-82.6K	-757	0.55	11.15	92	51	457	314
2016-10-10	$15.07	$17.50	26.0%	6.9%	22.9%	28.6%	23.8%	2.4%	-1.4%	2.2K	-107.4K	-744	0.55	12.16	92	51	457	314
2016-10-11	$15.03	$17.50	25.1%	6.9%	20.1%	26.7%	23.7%	2.2%	-1.4%	1.6K	-86.5K	-726	0.65	12.01	79	51	457	314
2016-10-12	$15.08	$17.50	23.4%	6.7%	20.2%	23.0%	23.6%	2.7%	-0.9%	1.9K	-110.2K	-737	0.65	13.99	79	51	462	314
2016-10-13	$15.33	$17.50	23.3%	6.7%	21.1%	22.7%	23.5%	3.8%	-1.3%	2.9K	-168.8K	-730	0.65	13.70	79	51	462	314
2016-10-14	$15.40	$17.50	23.7%	6.8%	20.6%	23.7%	23.1%	4.2%	-1.9%	4.4K	-184.5K	-734	0.65	12.12	79	51	467	314
2016-10-17	$15.40	$17.50	24.8%	7.1%	20.5%	26.1%	24.2%	3.5%	-1.8%	3.4K	-227.7K	-648	0.65	12.02	79	51	467	314
2016-10-18	$15.39	$17.50	23.6%	6.8%	20.5%	23.5%	23.3%	3.7%	-1.3%	3.3K	-223.0K	-645	0.62	15.06	82	51	467	314
2016-10-19	$15.35	$17.50	24.6%	7.0%	19.4%	25.6%	22.7%	5.5%	-2.0%	2.3K	-192.7K	-607	1.17	11.79	81	95	467	314
2016-10-20	$15.31	$17.50	21.8%	6.2%	18.3%	19.4%	23.2%	2.3%	0.4%	3.1K	-200.1K	-578	1.12	17.45	85	95	467	318
2016-10-21	$15.31	$17.50	23.3%	6.7%	18.3%	22.7%	23.3%	2.0%	-0.9%	6.7K	-255.0K	-545	0.78	14.43	122	95	468	318
2016-10-24	$15.45	$17.50	22.6%	6.5%	18.5%	21.3%	23.1%	1.8%	-2.5%	8.9K	-89.1K	-620	2.40	14.79	30	72	262	55
2016-10-25	$15.32	$17.50	23.8%	6.8%	17.7%	23.8%	24.5%	-0.6%	-1.3%	7.2K	-64.6K	-723	2.40	14.67	30	72	279	85
2016-10-26	$14.95	$17.50	22.4%	6.4%	19.2%	20.8%	23.0%	0.5%	-0.7%	5.8K	-29.6K	-659	1.85	13.58	39	72	279	85
2016-10-27	$14.92	$17.50	23.7%	6.8%	19.2%	23.6%	24.0%	-1.0%	-1.7%	6.5K	-36.0K	-685	1.49	12.01	43	64	292	85
2016-10-28	$14.96	$17.50	23.5%	6.7%	19.2%	23.2%	23.9%	0.5%	-2.4%	6.7K	-44.6K	-714	2.00	13.90	32	64	297	87
2016-10-31	$15.54	$17.50	20.7%	5.9%	22.4%	17.1%	21.9%	-0.1%	4.1%	8.8K	-105.0K	-776	2.00	19.61	32	64	299	87