BDN Options History — June 2018

In June 2018, BDN traded between $16.03 and $16.93. ATM implied volatility averaged 23.4%, placing in the 14.4% IV rank vs the trailing year. The 30-day expected move averaged 5.3%. IV traded above realized volatility by 6.6% (HV 20d: 16.8%). 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 14 of 21 days. Put/call ratio averaged 0.92.

Notable Days

2018-06-08: Highest Volume — 148 contracts
2018-06-18: Largest IV spike — 131.9% change
2018-06-13: Highest IV Rank — 42.1%
2018-06-13: Largest Expected Move — 14.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$16.44	$16.03	$16.93	$16.29	$16.93
Max Pain	$17.38	$15.00	$17.50	$15.00	$17.50
ATM IV	23.4%	12.8%	51.9%	16.4%	14.6%
Expected Move	5.3%	2.8%	14.9%	4.7%	4.2%
HV 20d	16.8%	14.1%	18.7%	18.6%	18.3%
HV 60d	17.4%	16.9%	18.2%	17.5%	17.0%
IV Rank	14.4%	4.0%	42.1%	7.6%	5.9%
IV Percentile	51.3%	10.7%	88.9%	33.7%	24.2%
Term Structure	-2.5%	-75.5%	31.6%	-2.6%	3.7%
VWIV	23.7%	13.5%	79.3%	79.3%	21.2%
Skew 25d	-3.4%	-14.1%	1.1%	-7.3%	-2.9%
Skew 10d	3.3%	-4.1%	27.5%	-2.3%	1.6%
Call IV 25d	18.7%	12.3%	30.2%	24.3%	21.5%
Put IV 25d	15.2%	10.9%	21.5%	17.0%	18.6%
Bid-Ask Spread %	29.41	16.09	102.52	26.44	21.21
Gamma HHI	0.87	0.75	0.96	0.89	0.92
Net GEX	16.5K	10.7K	24.8K	13.8K	24.8K
Net DEX	-150.2K	-283.6K	-13.7K	-163.2K	-283.6K
Net VEX	-1.0K	-1.3K	-563	-1.2K	-1.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.92	0.33	1.56	1.56	0.52
Total Volume	107.952	78	148	128	93
Total OI	511.667	478	585	502	585

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
2018-06-01	$16.29	$15.00	16.4%	4.7%	18.6%	7.6%	79.3%	-7.3%	-2.6%	13.8K	-163.2K	-1.2K	1.56	26.44	50	78	418	84
2018-06-04	$16.39	$17.50	32.9%	4.2%	18.6%	23.6%	20.3%	-2.0%	2.0%	17.0K	-127.7K	-1.1K	1.56	47.91	50	78	418	86
2018-06-05	$16.36	$17.50	19.2%	2.8%	17.2%	10.3%	13.6%	-4.4%	5.1%	17.7K	-104.7K	-1.0K	1.56	28.49	50	78	418	86
2018-06-06	$16.43	$17.50	28.1%	3.5%	17.3%	19.0%	13.6%	-0.7%	2.4%	17.3K	-126.2K	-1.1K	1.53	16.09	51	78	418	86
2018-06-07	$16.36	$17.50	23.5%	5.4%	17.2%	14.6%	26.6%	-1.9%	3.1%	13.2K	-175.9K	-1.2K	1.53	24.42	51	78	415	86
2018-06-08	$16.43	$17.50	23.1%	6.1%	16.9%	14.1%	23.9%	-14.1%	-7.9%	17.5K	-94.3K	-934	1.11	32.47	70	78	415	86
2018-06-11	$16.30	$17.50	33.8%	3.8%	16.2%	24.5%	15.8%	-1.7%	2.9%	16.4K	-91.8K	-929	1.30	18.69	60	78	415	86
2018-06-12	$16.44	$17.50	48.7%	4.2%	14.9%	39.0%	29.0%	-8.7%	3.4%	10.7K	-237.3K	-1.1K	1.30	33.41	60	78	415	86
2018-06-13	$16.03	$17.50	51.9%	14.9%	14.5%	42.1%	27.5%	-10.3%	-75.5%	13.6K	-80.2K	-861	1.30	30.64	60	78	415	86
2018-06-14	$16.11	$17.50	26.1%	7.5%	14.1%	17.0%	22.3%	0.1%	-23.7%	13.6K	-110.8K	-935	0.55	20.58	60	33	415	86
2018-06-15	$16.27	$17.50	13.8%	4.0%	14.2%	5.1%	26.6%	0.5%	2.1%	12.5K	-159.2K	-1.1K	0.55	24.51	60	33	415	92
2018-06-18	$16.24	$17.50	32.1%	9.2%	14.1%	22.8%	25.9%	-4.0%	31.6%	15.3K	-74.2K	-852	0.63	35.27	48	30	398	80
2018-06-19	$16.15	$17.50	16.2%	4.7%	14.3%	7.4%	16.9%	-2.6%	-7.5%	10.9K	-13.7K	-563	0.63	29.52	48	30	403	79
2018-06-20	$16.64	$17.50	13.4%	3.8%	17.5%	4.7%	15.1%	-1.8%	-5.1%	16.1K	-169.1K	-1.1K	0.63	17.92	48	30	403	79
2018-06-21	$16.47	$17.50	24.9%	7.2%	18.0%	15.9%	28.4%	1.1%	-3.7%	16.4K	-139.7K	-1.0K	0.61	102.52	49	30	403	79
2018-06-22	$16.70	$17.50	15.0%	4.3%	18.4%	6.2%	16.2%	0.7%	3.8%	21.3K	-176.4K	-1.1K	0.56	18.77	54	30	449	79
2018-06-25	$16.73	$17.50	16.1%	4.6%	18.4%	7.3%	23.9%	-4.9%	3.0%	16.1K	-258.8K	-1.2K	0.53	23.88	57	30	454	79
2018-06-26	$16.55	$17.50	12.8%	3.7%	18.7%	4.0%	13.5%	-4.4%	2.7%	21.4K	-94.4K	-850	0.53	23.85	57	30	457	79
2018-06-27	$16.63	$17.50	14.1%	4.0%	17.7%	5.4%	18.4%	-0.3%	2.1%	18.9K	-196.4K	-1.1K	0.33	21.99	92	30	457	79
2018-06-28	$16.89	$17.50	14.9%	4.3%	18.3%	6.1%	19.6%	-2.5%	5.3%	22.4K	-276.2K	-1.3K	0.49	19.06	61	30	497	79
2018-06-29	$16.93	$17.50	14.6%	4.2%	18.3%	5.9%	21.2%	-2.9%	3.7%	24.8K	-283.6K	-1.2K	0.52	21.21	61	32	506	79