BDN Options History — August 2017

In August 2017, BDN traded between $16.57 and $17.18. ATM implied volatility averaged 14.4%, placing in the 5.2% IV rank vs the trailing year. The 30-day expected move averaged 4.1%. IV traded above realized volatility by 1.1% (HV 20d: 13.3%). Max pain ranged from $12.50 to $17.50. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 22 of 23 days. Put/call ratio averaged 0.66.

Notable Days

2017-08-24: Highest Volume — 604 contracts
2017-08-22: Largest IV spike — 41.6% change
2017-08-08: Highest IV Rank — 14.5%
2017-08-29: Largest Expected Move — 5.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$16.85	$16.57	$17.18	$17.03	$17.18
Max Pain	$17.07	$12.50	$17.50	$12.50	$17.50
ATM IV	14.4%	10.6%	20.3%	12.8%	13.5%
Expected Move	4.1%	3.0%	5.2%	3.7%	3.9%
HV 20d	13.3%	11.9%	16.2%	16.2%	15.8%
HV 60d	14.1%	13.2%	15.5%	14.8%	15.5%
IV Rank	5.2%	0.0%	14.5%	1.0%	5.0%
IV Percentile	7.0%	0.0%	39.3%	0.4%	5.2%
Term Structure	4.8%	-0.1%	7.4%	5.6%	7.2%
VWIV	12.3%	9.5%	18.5%	11.1%	9.9%
Skew 25d	7.8%	-3.1%	99.3%	6.5%	9.3%
Skew 10d	-0.0%	-26.4%	127.6%	-26.4%	-25.5%
Call IV 25d	14.0%	10.8%	19.1%	12.3%	14.9%
Put IV 25d	21.8%	14.2%	116.4%	18.8%	24.2%
Bid-Ask Spread %	30.82	10.16	101.02	10.53	13.67
Gamma HHI	0.98	0.91	0.99	0.99	0.99
Net GEX	49.3K	5.6K	78.2K	78.2K	55.4K
Net DEX	-102.5K	-283.9K	72.5K	-142.4K	-283.9K
Net VEX	-1.3K	-2.1K	-685	-1.2K	-2.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.66	0.19	2.33	0.19	0.24
Total Volume	490.174	160	604	574	574
Total OI	736.261	305	785	735	785

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
2017-08-01	$17.03	$12.50	12.8%	3.7%	16.2%	1.0%	11.1%	6.5%	5.6%	78.2K	-142.4K	-1.2K	0.19	10.53	482	92	643	92
2017-08-02	$16.93	$12.50	13.4%	3.8%	13.4%	2.0%	10.4%	6.4%	6.5%	65.5K	-96.5K	-1.1K	0.19	12.38	482	92	643	92
2017-08-03	$17.02	$17.50	12.5%	4.7%	12.6%	0.4%	16.4%	-3.1%	1.5%	77.8K	-125.4K	-1.2K	0.19	28.78	482	92	643	92
2017-08-04	$16.99	$17.50	12.6%	4.7%	12.6%	0.6%	16.6%	-0.9%	1.3%	71.9K	-105.8K	-1.1K	0.19	33.69	482	92	653	92
2017-08-07	$16.84	$17.50	15.0%	3.9%	13.0%	4.9%	15.7%	-1.6%	2.3%	50.9K	-55.5K	-996	0.19	18.79	482	92	653	92
2017-08-08	$16.92	$17.50	20.3%	4.5%	13.1%	14.5%	16.9%	99.3%	0.7%	64.5K	-121.2K	-1.1K	0.19	51.05	482	92	653	92
2017-08-09	$16.77	$17.50	17.1%	4.9%	12.5%	8.6%	18.5%	-3.1%	-0.1%	51.2K	-106.7K	-1.0K	0.19	101.02	482	92	653	92
2017-08-10	$16.73	$17.50	15.3%	4.4%	12.4%	5.4%	16.8%	-1.6%	1.6%	49.1K	-83.4K	-982	0.19	26.67	482	92	653	92
2017-08-11	$16.57	$17.50	15.3%	4.4%	12.5%	5.4%	11.2%	3.4%	7.1%	36.5K	-18.5K	-801	0.19	10.16	482	92	653	92
2017-08-14	$16.84	$17.50	11.1%	3.2%	13.9%	0.0%	9.6%	4.3%	6.2%	57.3K	-76.6K	-835	2.33	18.30	48	112	652	92
2017-08-15	$16.75	$17.50	12.9%	3.7%	13.9%	3.1%	10.6%	4.5%	6.2%	49.3K	-66.7K	-887	2.33	53.59	48	112	652	112
2017-08-16	$16.82	$17.50	11.4%	3.3%	13.2%	0.4%	10.1%	4.2%	7.4%	42.2K	706	-829	2.33	18.55	48	112	652	112
2017-08-17	$16.84	$17.50	12.4%	3.6%	13.2%	2.2%	10.1%	3.2%	7.2%	55.5K	-54.3K	-841	2.24	17.38	50	112	652	112
2017-08-18	$16.66	$17.50	15.3%	4.4%	11.9%	7.3%	11.9%	3.4%	3.7%	5.6K	72.5K	-685	2.24	20.32	50	112	662	112
2017-08-21	$16.75	$17.50	12.7%	3.6%	12.0%	2.7%	9.9%	5.8%	6.6%	6.0K	61.5K	-727	0.24	22.73	459	111	194	111
2017-08-22	$16.67	$17.50	17.9%	5.1%	12.0%	11.9%	10.8%	8.1%	5.7%	37.2K	-67.8K	-1.4K	0.24	31.19	459	111	629	111
2017-08-23	$16.84	$17.50	13.8%	3.9%	12.6%	4.6%	9.6%	5.6%	6.3%	43.1K	-117.9K	-1.7K	0.24	29.72	459	111	629	111
2017-08-24	$17.06	$17.50	10.6%	3.0%	13.4%	0.0%	9.5%	5.5%	7.3%	49.0K	-229.8K	-1.9K	0.23	98.36	493	111	629	111
2017-08-25	$17.09	$17.50	13.5%	3.9%	13.3%	5.0%	12.7%	4.3%	4.4%	49.7K	-238.7K	-2.1K	0.23	31.49	493	111	673	111
2017-08-28	$16.77	$17.50	17.8%	5.1%	15.0%	12.6%	11.4%	6.3%	4.4%	50.1K	-189.0K	-1.9K	0.23	24.43	493	111	674	111
2017-08-29	$16.75	$17.50	18.2%	5.2%	13.8%	13.2%	12.0%	5.4%	4.8%	44.5K	-146.4K	-1.7K	0.23	21.02	493	111	674	111
2017-08-30	$16.81	$17.50	15.3%	4.4%	13.8%	8.2%	11.8%	4.5%	6.2%	43.8K	-166.2K	-1.8K	0.23	15.09	493	111	674	111
2017-08-31	$17.18	$17.50	13.5%	3.9%	15.8%	5.0%	9.9%	9.3%	7.2%	55.4K	-283.9K	-2.0K	0.24	13.67	463	111	674	111