BDN Options History — December 2016

In December 2016, BDN traded between $15.07 and $16.44. ATM implied volatility averaged 27.9%, placing in the 32.8% IV rank vs the trailing year. The 30-day expected move averaged 7.0%. IV traded above realized volatility by 7.8% (HV 20d: 20.1%). 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 6 of 21 days. Put/call ratio averaged 3.15.

Notable Days

2016-12-01: Highest Volume — 135 contracts
2016-12-06: Largest IV spike — 101.6% change
2016-12-13: Highest IV Rank — 91.7%
2016-12-27: Largest Expected Move — 9.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.78	$15.07	$16.44	$15.07	$16.44
Max Pain	$15.00	$15.00	$15.00	$15.00	$15.00
ATM IV	27.9%	20.6%	54.7%	22.5%	26.7%
Expected Move	7.0%	5.9%	9.1%	6.4%	7.6%
HV 20d	20.1%	14.8%	23.5%	23.5%	19.6%
HV 60d	22.2%	21.4%	23.9%	23.9%	21.6%
IV Rank	32.8%	16.9%	91.7%	20.9%	30.2%
IV Percentile	61.0%	19.8%	99.6%	35.7%	72.2%
Term Structure	-2.5%	-16.4%	4.3%	-0.6%	-6.5%
VWIV	23.9%	16.8%	32.7%	22.5%	26.1%
Skew 25d	5.3%	-15.4%	47.8%	-6.0%	2.1%
Skew 10d	15.3%	-9.1%	104.8%	-9.1%	-3.2%
Call IV 25d	23.5%	17.0%	35.3%	28.5%	24.6%
Put IV 25d	28.8%	19.9%	76.3%	22.5%	26.7%
Bid-Ask Spread %	54.08	11.00	112.85	17.00	111.45
Gamma HHI	0.54	0.50	0.68	0.68	0.58
Net GEX	10.5K	8.9K	12.1K	10.2K	12.1K
Net DEX	-177.0K	-244.1K	-84.8K	-84.8K	-244.1K
Net VEX	-763	-894	-584	-756	-584
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.15	1.81	5.38	1.81	2.72
Total Volume	119.143	102	135	135	119
Total OI	471.048	455	490	459	455

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
2016-12-01	$15.07	$15.00	22.5%	6.4%	23.5%	20.9%	22.5%	-6.0%	-0.6%	10.2K	-84.8K	-756	1.81	17.00	48	87	355	104
2016-12-02	$15.19	$15.00	22.2%	6.4%	23.2%	20.3%	22.2%	2.7%	-0.2%	10.1K	-94.4K	-857	1.81	15.38	48	87	356	124
2016-12-05	$15.33	$15.00	21.6%	6.4%	22.8%	19.1%	22.1%	3.4%	1.0%	10.9K	-117.6K	-847	2.07	11.00	42	87	357	124
2016-12-06	$15.49	$15.00	43.6%	7.1%	22.4%	67.4%	25.1%	47.8%	-5.8%	9.8K	-138.7K	-894	2.07	70.93	42	87	366	124
2016-12-07	$15.73	$15.00	20.6%	6.5%	22.8%	16.9%	22.2%	5.7%	-0.9%	11.4K	-201.8K	-846	2.07	13.70	42	87	366	124
2016-12-08	$15.86	$15.00	24.8%	6.9%	21.2%	26.0%	23.2%	7.0%	-1.8%	11.5K	-216.3K	-858	2.07	13.34	42	87	366	124
2016-12-09	$15.84	$15.00	24.8%	6.2%	18.9%	26.1%	20.8%	4.3%	0.6%	11.2K	-217.6K	-792	2.07	19.95	42	87	366	124
2016-12-12	$15.86	$15.00	42.0%	6.7%	16.8%	63.9%	23.0%	5.9%	-0.4%	11.4K	-215.3K	-811	2.07	23.70	42	87	366	124
2016-12-13	$15.93	$15.00	54.7%	5.9%	14.8%	91.7%	22.9%	-1.3%	4.3%	11.0K	-215.2K	-764	2.29	74.30	38	87	357	124
2016-12-14	$15.50	$15.00	21.1%	6.1%	18.1%	18.0%	21.2%	3.4%	2.0%	11.4K	-180.6K	-732	2.29	85.46	38	87	358	124
2016-12-15	$15.44	$15.00	22.5%	6.5%	18.1%	21.0%	22.4%	3.6%	-0.4%	10.9K	-147.8K	-745	2.29	25.88	38	87	358	124
2016-12-16	$15.72	$15.00	25.8%	7.4%	18.9%	28.3%	25.5%	34.5%	-2.3%	8.9K	-178.6K	-785	2.29	52.84	38	87	358	124
2016-12-19	$16.02	$15.00	25.7%	7.4%	19.6%	28.0%	27.2%	11.8%	1.6%	10.6K	-193.4K	-770	3.19	23.85	27	86	332	123
2016-12-20	$16.20	$15.00	23.2%	6.7%	19.1%	22.6%	26.1%	-0.2%	-3.2%	11.2K	-210.1K	-732	3.19	32.03	27	86	332	123
2016-12-21	$15.85	$15.00	26.8%	7.7%	20.6%	30.5%	16.8%	-15.4%	-16.4%	9.4K	-174.9K	-815	5.38	54.96	16	86	332	123
2016-12-22	$15.95	$15.00	22.8%	6.5%	20.5%	21.7%	24.4%	5.1%	1.2%	9.2K	-169.6K	-676	5.38	46.81	16	86	332	123
2016-12-23	$15.93	$15.00	27.0%	7.7%	20.6%	30.9%	24.5%	4.7%	-6.0%	9.4K	-172.7K	-714	5.38	108.32	16	86	332	123
2016-12-27	$15.97	$15.00	31.9%	9.1%	20.5%	41.7%	32.7%	0.5%	-4.8%	9.8K	-175.0K	-690	5.38	110.45	16	86	332	123
2016-12-28	$15.89	$15.00	29.8%	8.5%	20.2%	37.1%	24.2%	-7.0%	-13.2%	9.5K	-167.4K	-724	5.38	111.46	16	86	332	123
2016-12-29	$16.15	$15.00	25.5%	7.3%	20.5%	27.6%	26.3%	-1.5%	-0.7%	9.8K	-200.4K	-628	5.06	112.85	17	86	332	123
2016-12-30	$16.44	$15.00	26.7%	7.6%	19.6%	30.2%	26.1%	2.1%	-6.5%	12.1K	-244.1K	-584	2.72	111.45	32	87	332	123