BDN Options History — February 2019

In February 2019, BDN traded between $14.93 and $16.14. ATM implied volatility averaged 15.8%, placing in the 7.2% IV rank vs the trailing year. The 30-day expected move averaged 4.6%. IV traded below realized volatility by 2.9% (HV 20d: 18.7%). 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 17 of 19 days. Put/call ratio averaged 1.49.

Notable Days

2019-02-01: Highest Volume — 105 contracts
2019-02-19: Largest IV spike — 53.8% change
2019-02-19: Highest IV Rank — 12.8%
2019-02-19: Largest Expected Move — 6.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.74	$14.93	$16.14	$14.93	$15.78
Max Pain	$15.00	$15.00	$15.00	$15.00	$15.00
ATM IV	15.8%	11.5%	21.5%	15.0%	16.3%
Expected Move	4.6%	3.3%	6.2%	4.9%	4.7%
HV 20d	18.7%	16.0%	20.3%	17.9%	19.9%
HV 60d	26.7%	25.8%	27.1%	25.8%	27.0%
IV Rank	7.2%	3.0%	12.8%	6.5%	7.7%
IV Percentile	21.4%	3.2%	48.0%	16.3%	25.8%
Term Structure	1.7%	-15.4%	7.7%	1.7%	2.1%
VWIV	20.0%	11.3%	33.5%	17.2%	33.5%
Skew 25d	-2.4%	-10.6%	2.9%	2.1%	-6.9%
Skew 10d	0.0%	-14.4%	71.5%	3.1%	-11.5%
Call IV 25d	19.9%	15.4%	25.8%	20.9%	25.8%
Put IV 25d	17.5%	11.5%	23.0%	23.0%	18.9%
Bid-Ask Spread %	61.34	9.52	106.88	106.02	99.58
Gamma HHI	0.89	0.81	0.97	0.97	0.81
Net GEX	20.3K	15.1K	28.1K	28.1K	16.1K
Net DEX	-476.2K	-544.2K	-261.7K	-261.7K	-485.8K
Net VEX	-795	-1.0K	-654	-1.0K	-817
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.49	0.00	6.25	0.03	6.25
Total Volume	26.158	0	105	105	29
Total OI	512.316	465	580	465	580

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
2019-02-01	$14.93	$15.00	15.0%	4.9%	17.9%	6.5%	17.2%	2.1%	1.7%	28.1K	-261.7K	-1.0K	0.03	106.02	102	3	426	39
2019-02-04	$15.32	$15.00	16.7%	4.9%	18.6%	8.1%	0.0%	-0.5%	2.4%	28.1K	-356.6K	-999	1.00	96.88	1	1	427	39
2019-02-05	$15.56	$15.00	16.0%	4.8%	18.7%	7.4%	0.0%	-2.9%	1.9%	25.6K	-413.6K	-920	0.05	106.88	20	1	428	39
2019-02-06	$15.57	$15.00	14.1%	4.0%	18.8%	5.6%	0.0%	1.1%	7.7%	25.1K	-440.2K	-916	0.00	32.83	0	5	446	38
2019-02-07	$15.88	$15.00	19.6%	5.6%	19.3%	10.9%	0.0%	2.9%	-1.6%	21.4K	-481.5K	-863	0.83	42.26	6	5	446	34
2019-02-08	$15.82	$15.00	11.8%	3.4%	19.5%	3.3%	0.0%	-4.2%	4.4%	18.1K	-516.9K	-697	1.25	42.99	8	10	446	34
2019-02-11	$15.90	$15.00	11.5%	3.3%	19.3%	3.0%	0.0%	1.1%	7.0%	15.1K	-526.0K	-661	0.00	50.37	11	0	447	38
2019-02-12	$16.02	$15.00	14.1%	4.1%	16.0%	5.6%	12.2%	-2.2%	1.6%	15.4K	-543.5K	-654	1.62	31.62	13	21	454	38
2019-02-13	$15.78	$15.00	16.7%	4.8%	18.0%	8.0%	18.4%	1.1%	3.6%	22.9K	-481.5K	-851	1.76	33.52	17	30	459	59
2019-02-14	$15.85	$15.00	12.7%	3.6%	17.6%	4.2%	11.3%	-3.5%	3.4%	16.5K	-527.5K	-684	1.71	9.52	17	29	459	71
2019-02-15	$15.93	$15.00	14.0%	4.0%	17.6%	5.4%	12.1%	-0.5%	1.6%	16.2K	-536.5K	-672	2.42	40.00	12	29	459	98
2019-02-19	$16.14	$15.00	21.5%	6.2%	16.9%	12.8%	0.0%	-2.3%	-15.4%	16.5K	-544.2K	-689	0.00	20.84	0	0	463	49
2019-02-20	$15.84	$15.00	14.5%	4.1%	19.0%	5.9%	12.6%	-4.5%	2.1%	17.8K	-519.3K	-700	0.00	41.11	0	10	463	49
2019-02-21	$15.64	$15.00	20.3%	5.8%	19.5%	11.6%	23.0%	-1.5%	1.3%	24.4K	-436.0K	-885	0.00	101.00	0	12	463	59
2019-02-22	$15.86	$15.00	16.0%	4.6%	19.6%	7.4%	13.3%	-5.2%	0.9%	17.5K	-518.3K	-694	1.00	92.57	12	12	463	60
2019-02-25	$15.89	$15.00	15.7%	4.5%	19.2%	7.1%	32.1%	-2.4%	6.2%	15.4K	-527.7K	-697	0.00	20.48	0	23	475	60
2019-02-26	$15.65	$15.00	15.7%	4.5%	20.3%	7.1%	26.4%	-10.6%	0.7%	22.6K	-470.2K	-807	0.00	92.01	0	33	475	83
2019-02-27	$15.66	$15.00	17.4%	5.0%	20.0%	8.8%	27.6%	-6.0%	0.4%	22.9K	-460.3K	-862	0.00	104.96	0	25	475	93
2019-02-28	$15.78	$15.00	16.3%	4.7%	19.9%	7.7%	33.5%	-6.9%	2.1%	16.1K	-485.8K	-817	6.25	99.58	4	25	475	105