BDN Options History — September 2018

In September 2018, BDN traded between $15.56 and $16.84. ATM implied volatility averaged 24.8%, placing in the 16.0% IV rank vs the trailing year. The 30-day expected move averaged 6.5%. IV traded above realized volatility by 6.6% (HV 20d: 18.3%). Max pain ranged from $15.00 to $15.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.23.

Notable Days

2018-09-24: Highest Volume — 156 contracts
2018-09-25: Largest IV spike — 260.4% change
2018-09-25: Highest IV Rank — 60.9%
2018-09-25: Largest Expected Move — 20.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$16.27	$15.56	$16.84	$16.55	$15.67
Max Pain	$15.00	$15.00	$15.00	$15.00	$15.00
ATM IV	24.8%	15.8%	71.1%	18.1%	23.1%
Expected Move	6.5%	2.8%	20.4%	5.2%	6.6%
HV 20d	18.3%	16.2%	21.3%	16.2%	18.5%
HV 60d	16.8%	15.4%	17.5%	17.2%	16.9%
IV Rank	16.0%	7.2%	60.9%	9.5%	14.3%
IV Percentile	61.3%	32.9%	97.6%	47.6%	62.3%
Term Structure	-5.0%	-97.5%	3.9%	-1.6%	-3.4%
VWIV	42.6%	17.0%	101.3%	74.1%	22.9%
Skew 25d	3.1%	-3.4%	14.0%	1.4%	0.3%
Skew 10d	6.4%	1.0%	15.1%	3.6%	10.7%
Call IV 25d	18.5%	10.4%	29.1%	17.9%	23.7%
Put IV 25d	21.7%	13.1%	33.0%	19.3%	24.0%
Bid-Ask Spread %	63.34	15.02	123.18	28.75	66.48
Gamma HHI	0.60	0.50	0.85	0.55	0.85
Net GEX	16.3K	8.5K	28.4K	15.4K	28.4K
Net DEX	-275.2K	-344.8K	-216.5K	-258.2K	-342.4K
Net VEX	-607	-841	-384	-703	-522
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.23	0.16	0.31	0.26	0.16
Total Volume	115.947	93	156	103	156
Total OI	393.737	362	494	362	494

Daily Data (19 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
2018-09-04	$16.55	$15.00	18.1%	5.2%	16.2%	9.5%	0.0%	1.4%	-1.6%	15.4K	-258.2K	-703	0.26	28.75	82	21	331	31
2018-09-05	$16.84	$15.00	21.7%	6.2%	17.3%	12.9%	0.0%	14.0%	-1.0%	16.0K	-291.0K	-746	0.26	43.01	82	21	332	31
2018-09-06	$16.74	$15.00	22.6%	2.8%	17.4%	13.8%	74.1%	-3.4%	3.9%	9.1K	-278.9K	-841	0.26	94.00	82	21	332	31
2018-09-07	$16.47	$15.00	23.4%	5.7%	18.4%	14.6%	27.1%	4.3%	0.4%	15.4K	-253.7K	-679	0.26	69.15	82	21	332	31
2018-09-10	$16.53	$15.00	30.3%	4.9%	17.9%	21.3%	23.7%	3.3%	3.4%	15.9K	-265.6K	-655	0.26	15.02	82	21	332	31
2018-09-11	$16.48	$15.00	30.1%	5.6%	17.6%	21.1%	80.1%	5.5%	3.3%	8.9K	-254.9K	-787	0.26	42.01	82	21	332	31
2018-09-12	$16.37	$15.00	22.6%	6.5%	17.7%	13.8%	79.1%	4.4%	0.5%	8.5K	-244.6K	-754	0.26	44.06	82	21	332	31
2018-09-13	$16.41	$15.00	23.4%	6.7%	17.7%	14.6%	75.4%	0.8%	-2.8%	14.6K	-247.4K	-642	0.26	82.99	82	21	332	31
2018-09-14	$16.41	$15.00	23.6%	6.8%	17.1%	14.8%	37.7%	2.3%	-2.0%	15.7K	-251.7K	-591	0.26	123.18	82	21	332	31
2018-09-17	$16.55	$15.00	19.9%	5.7%	16.6%	11.1%	37.3%	1.9%	-0.4%	16.3K	-272.1K	-512	0.26	76.91	82	21	332	31
2018-09-18	$16.56	$15.00	20.2%	5.8%	16.6%	11.5%	20.1%	4.2%	-0.4%	15.3K	-274.8K	-430	0.26	52.48	82	21	332	31
2018-09-19	$16.07	$15.00	19.2%	5.5%	19.6%	10.5%	18.5%	7.4%	0.7%	13.9K	-216.5K	-384	0.26	28.61	82	21	332	31
2018-09-20	$16.26	$15.00	21.2%	6.1%	20.0%	12.4%	29.5%	9.2%	1.6%	14.4K	-226.6K	-469	0.29	24.64	72	21	332	31
2018-09-21	$16.26	$15.00	15.8%	4.5%	20.0%	7.2%	33.4%	0.1%	3.2%	15.3K	-272.1K	-602	0.31	26.19	72	22	372	31
2018-09-24	$15.89	$15.00	19.7%	5.7%	21.3%	11.0%	17.0%	3.4%	3.3%	16.1K	-253.0K	-393	0.16	50.42	135	21	353	31
2018-09-25	$15.85	$15.00	71.1%	20.4%	20.8%	60.9%	101.3%	3.9%	-97.5%	14.4K	-341.7K	-771	0.16	111.49	135	21	463	31
2018-09-26	$15.63	$15.00	22.8%	6.5%	18.3%	14.0%	22.9%	-1.4%	-3.1%	27.6K	-344.8K	-528	0.16	112.57	135	21	463	31
2018-09-27	$15.56	$15.00	23.0%	6.6%	18.3%	14.2%	23.3%	-1.8%	-3.8%	28.0K	-339.2K	-524	0.16	111.58	135	21	463	31
2018-09-28	$15.67	$15.00	23.1%	6.6%	18.5%	14.3%	22.9%	0.3%	-3.4%	28.4K	-342.4K	-522	0.16	66.48	135	21	463	31