BDN Options History — June 2017

In June 2017, BDN traded between $17.29 and $17.83. ATM implied volatility averaged 19.2%, placing in the 11.3% IV rank vs the trailing year. The 30-day expected move averaged 5.4%. IV traded above realized volatility by 8.2% (HV 20d: 11.0%). Max pain ranged from $15.00 to $17.50. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 9 of 22 days. Put/call ratio averaged 0.06.

Notable Days

2017-06-12: Highest Volume — 615 contracts
2017-06-05: Largest IV spike — 26.3% change
2017-06-12: Highest IV Rank — 15.9%
2017-06-28: Largest Expected Move — 6.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$17.49	$17.29	$17.83	$17.41	$17.59
Max Pain	$15.23	$15.00	$17.50	$15.00	$17.50
ATM IV	19.2%	16.3%	21.7%	16.6%	18.6%
Expected Move	5.4%	4.7%	6.1%	4.8%	5.3%
HV 20d	11.0%	6.5%	14.6%	14.1%	14.6%
HV 60d	13.7%	13.2%	14.9%	14.9%	14.0%
IV Rank	11.3%	6.0%	15.9%	6.6%	10.2%
IV Percentile	25.5%	6.7%	44.0%	7.5%	19.4%
Term Structure	-0.5%	-3.5%	1.9%	1.9%	-1.0%
VWIV	20.1%	16.5%	27.4%	16.6%	18.6%
Skew 25d	11.3%	-1.9%	94.6%	-0.2%	-1.9%
Skew 10d	16.7%	-3.9%	136.9%	-1.2%	-3.3%
Call IV 25d	18.9%	16.5%	21.4%	21.3%	20.5%
Put IV 25d	30.2%	17.2%	113.2%	21.1%	18.5%
Bid-Ask Spread %	35.49	17.38	85.56	23.90	18.09
Gamma HHI	0.98	0.88	0.99	0.99	0.99
Net GEX	92.3K	11.9K	205.1K	100.4K	82.3K
Net DEX	-493.2K	-763.7K	-199.8K	-496.0K	-455.7K
Net VEX	-1.1K	-1.4K	-558	-1.2K	-1.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.06	0.04	0.25	0.05	0.07
Total Volume	505.773	114	615	555	485
Total OI	643.773	273	708	678	656

Daily Data (22 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
2017-06-01	$17.41	$15.00	16.6%	4.8%	14.1%	6.6%	16.6%	-0.2%	1.9%	100.4K	-496.0K	-1.2K	0.05	23.90	531	24	632	46
2017-06-02	$17.50	$15.00	16.3%	4.7%	14.1%	6.0%	16.5%	1.2%	1.4%	106.2K	-572.0K	-1.2K	0.05	22.27	531	24	632	46
2017-06-05	$17.47	$15.00	20.5%	5.3%	13.8%	13.7%	19.1%	0.5%	0.1%	96.4K	-546.8K	-1.1K	0.05	28.67	531	24	632	46
2017-06-06	$17.47	$15.00	19.3%	5.5%	13.6%	11.6%	21.5%	0.3%	-0.3%	106.8K	-518.0K	-1.1K	0.05	27.94	531	24	632	46
2017-06-07	$17.40	$15.00	20.1%	4.8%	11.1%	13.0%	16.7%	71.7%	1.6%	107.2K	-509.6K	-1.1K	0.05	35.10	531	24	632	46
2017-06-08	$17.34	$15.00	16.9%	5.2%	6.5%	7.2%	19.3%	0.8%	0.8%	117.7K	-437.2K	-1.0K	0.05	40.56	531	24	632	46
2017-06-09	$17.30	$15.00	17.5%	5.2%	6.6%	8.4%	19.3%	0.5%	0.4%	130.3K	-452.4K	-1.0K	0.05	31.50	531	24	632	46
2017-06-12	$17.61	$15.00	21.7%	6.0%	8.9%	15.9%	21.1%	68.5%	-1.4%	115.7K	-621.2K	-890	0.04	32.00	591	24	632	46
2017-06-13	$17.55	$15.00	21.3%	5.4%	8.6%	15.1%	22.0%	0.7%	0.4%	171.2K	-631.0K	-866	0.05	28.79	526	24	662	46
2017-06-14	$17.63	$15.00	20.1%	5.8%	8.7%	13.0%	22.6%	-0.6%	-2.1%	205.1K	-722.9K	-799	0.05	85.56	526	24	662	46
2017-06-15	$17.66	$15.00	19.2%	5.5%	8.7%	11.3%	26.0%	1.7%	0.9%	167.1K	-763.7K	-737	0.05	27.69	526	24	662	46
2017-06-16	$17.39	$15.00	19.1%	5.5%	10.5%	11.1%	27.4%	-0.1%	-0.2%	11.9K	-199.8K	-572	0.05	40.15	525	24	662	46
2017-06-19	$17.45	$15.00	18.2%	5.2%	10.3%	9.6%	18.2%	94.6%	0.1%	11.9K	-206.0K	-558	0.25	28.98	91	23	228	45
2017-06-20	$17.45	$15.00	19.3%	5.5%	10.3%	11.6%	19.3%	0.6%	-1.6%	12.3K	-207.6K	-569	0.05	32.35	453	23	228	45
2017-06-21	$17.39	$15.00	19.3%	5.5%	10.2%	11.5%	19.3%	0.1%	-1.2%	65.7K	-509.9K	-1.4K	0.05	29.74	453	23	663	45
2017-06-22	$17.42	$15.00	19.2%	5.5%	9.9%	11.3%	19.2%	-0.5%	-1.3%	68.1K	-543.0K	-1.4K	0.05	71.97	453	23	663	45
2017-06-23	$17.63	$15.00	18.6%	5.3%	10.9%	10.2%	18.6%	1.6%	-0.8%	72.7K	-630.6K	-1.4K	0.05	28.98	454	23	663	45
2017-06-26	$17.83	$15.00	19.2%	5.5%	11.2%	11.4%	19.2%	2.4%	-0.9%	73.3K	-584.7K	-1.3K	0.05	34.11	454	23	599	45
2017-06-27	$17.66	$15.00	20.1%	5.8%	11.7%	13.0%	20.1%	3.4%	-2.2%	72.7K	-514.5K	-1.3K	0.05	17.38	454	23	598	45
2017-06-28	$17.36	$15.00	21.2%	6.1%	13.3%	15.0%	21.3%	5.3%	-3.5%	68.9K	-430.2K	-1.3K	0.07	47.87	454	31	598	45
2017-06-29	$17.29	$17.50	19.8%	5.7%	13.4%	12.3%	20.2%	-1.8%	-2.5%	67.6K	-296.6K	-1.2K	0.07	47.07	454	31	596	55
2017-06-30	$17.59	$17.50	18.6%	5.3%	14.6%	10.2%	18.6%	-1.9%	-1.0%	82.3K	-455.7K	-1.3K	0.07	18.09	454	31	601	55