BDN Options History — November 2017

In November 2017, BDN traded between $17.20 and $17.76. ATM implied volatility averaged 14.6%, placing in the 8.4% IV rank vs the trailing year. The 30-day expected move averaged 4.2%. IV traded above realized volatility by 4.1% (HV 20d: 10.6%). Max pain ranged from $17.50 to $17.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 0.92.

Notable Days

2017-11-29: Highest Volume — 572 contracts
2017-11-29: Largest IV spike — 127.9% change
2017-11-29: Highest IV Rank — 30.5%
2017-11-29: Largest Expected Move — 7.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$17.50	$17.20	$17.76	$17.52	$17.22
Max Pain	$17.50	$17.50	$17.50	$17.50	$17.50
ATM IV	14.6%	8.6%	26.8%	14.3%	14.4%
Expected Move	4.2%	2.5%	7.7%	4.1%	4.1%
HV 20d	10.6%	7.8%	13.0%	12.3%	9.7%
HV 60d	12.7%	11.4%	13.7%	13.7%	11.6%
IV Rank	8.4%	0.0%	30.5%	6.4%	9.7%
IV Percentile	17.1%	0.0%	86.5%	10.7%	14.7%
Term Structure	1.0%	-10.9%	6.4%	1.2%	-0.6%
VWIV	14.7%	8.4%	27.1%	14.3%	15.8%
Skew 25d	5.5%	-8.4%	79.2%	-3.6%	2.3%
Skew 10d	7.2%	-36.4%	119.9%	-5.8%	-7.6%
Call IV 25d	22.0%	14.1%	35.4%	17.9%	24.6%
Put IV 25d	27.5%	9.6%	99.9%	14.3%	26.9%
Bid-Ask Spread %	77.60	17.98	112.87	66.31	87.59
Gamma HHI	0.90	0.89	0.99	0.89	0.99
Net GEX	17.5K	11.6K	105.1K	12.5K	105.1K
Net DEX	-142.5K	-353.2K	-81.9K	-127.6K	-353.2K
Net VEX	-1.1K	-1.6K	-987	-1.1K	-1.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.92	0.10	1.21	0.96	0.10
Total Volume	155.381	104	572	139	572
Total OI	392.143	352	839	354	839

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
2017-11-01	$17.52	$17.50	14.3%	4.1%	12.3%	6.4%	14.3%	-3.6%	1.2%	12.5K	-127.6K	-1.1K	0.96	66.31	71	68	264	90
2017-11-02	$17.49	$0.00	14.4%	3.8%	12.1%	6.7%	0.0%	-7.8%	2.2%	12.4K	-138.2K	-1.1K	0.73	105.93	71	52	264	90
2017-11-03	$17.50	$0.00	16.2%	3.9%	12.1%	9.7%	13.8%	79.2%	2.1%	12.1K	-121.9K	-1.1K	0.93	89.39	61	57	264	94
2017-11-06	$17.60	$17.50	16.7%	4.4%	12.3%	10.5%	15.2%	57.9%	1.3%	12.3K	-145.4K	-1.1K	0.93	100.79	61	57	274	99
2017-11-07	$17.52	$17.50	12.7%	4.6%	12.2%	3.7%	16.0%	-6.9%	-1.4%	13.7K	-131.5K	-1.1K	0.93	82.87	61	57	274	99
2017-11-08	$17.74	$17.50	15.1%	4.3%	12.7%	7.8%	15.0%	-1.8%	0.7%	12.6K	-169.2K	-1.1K	0.93	74.95	61	57	274	99
2017-11-09	$17.73	$17.50	14.2%	4.1%	12.6%	6.3%	15.4%	-4.5%	2.4%	12.9K	-170.5K	-1.1K	1.14	101.76	50	57	274	99
2017-11-10	$17.68	$17.50	14.6%	4.2%	12.6%	7.1%	16.0%	-7.1%	1.1%	13.0K	-157.3K	-1.1K	1.12	112.00	51	57	274	99
2017-11-13	$17.76	$17.50	14.8%	4.2%	12.7%	7.3%	14.8%	-8.4%	0.6%	13.4K	-179.7K	-1.1K	1.21	39.66	47	57	274	99
2017-11-14	$17.72	$17.50	15.8%	4.5%	12.6%	9.0%	15.8%	-6.2%	-0.7%	13.4K	-169.4K	-1.1K	1.21	84.48	47	57	274	99
2017-11-15	$17.54	$17.50	14.3%	4.1%	13.0%	6.6%	14.4%	-6.7%	3.1%	13.3K	-139.7K	-1.1K	1.21	82.86	47	57	274	99
2017-11-16	$17.49	$17.50	18.8%	5.4%	8.8%	14.3%	19.0%	-0.1%	1.6%	11.6K	-121.8K	-1.1K	1.21	68.94	47	57	274	99
2017-11-17	$17.40	$17.50	8.6%	2.5%	8.7%	0.0%	8.4%	65.4%	6.4%	11.9K	-83.4K	-1.0K	1.21	44.28	47	57	274	99
2017-11-20	$17.45	$17.50	10.1%	2.9%	8.3%	2.6%	10.1%	-6.4%	3.7%	13.4K	-102.4K	-987	0.91	102.63	56	51	261	91
2017-11-21	$17.38	$17.50	12.3%	3.5%	8.3%	6.3%	12.3%	0.2%	1.9%	14.3K	-116.3K	-1.1K	0.91	69.34	56	51	282	91
2017-11-22	$17.38	$17.50	9.9%	2.8%	7.8%	2.2%	9.6%	-4.5%	6.4%	12.4K	-119.4K	-1.1K	0.91	39.18	56	51	282	91
2017-11-24	$17.43	$17.50	19.1%	5.5%	7.9%	17.6%	19.1%	-6.3%	-3.9%	14.2K	-129.8K	-1.1K	0.91	104.09	56	51	282	91
2017-11-27	$17.41	$17.50	12.7%	3.6%	7.9%	6.9%	12.7%	-3.7%	1.9%	14.3K	-120.5K	-1.1K	0.85	41.72	60	51	282	91
2017-11-28	$17.20	$17.50	11.7%	3.4%	8.9%	5.3%	9.8%	-7.6%	1.1%	14.5K	-81.9K	-1.0K	0.85	17.98	60	51	287	91
2017-11-29	$17.36	$17.50	26.8%	7.7%	9.3%	30.5%	27.1%	-7.7%	-10.9%	14.5K	-113.0K	-1.1K	0.10	112.87	521	51	287	91
2017-11-30	$17.22	$17.50	14.4%	4.1%	9.7%	9.7%	15.8%	2.3%	-0.6%	105.1K	-353.2K	-1.6K	0.10	87.59	521	51	748	91