BDN Options History — April 2019

In April 2019, BDN traded between $15.20 and $16.09. ATM implied volatility averaged 22.2%, placing in the 16.6% IV rank vs the trailing year. The 30-day expected move averaged 5.1%. IV traded above realized volatility by 7.8% (HV 20d: 14.5%). Max pain ranged from $20.00 to $20.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 0.40.

Notable Days

2019-04-25: Highest Volume — 45 contracts
2019-04-08: Largest IV spike — 243.9% change
2019-04-08: Highest IV Rank — 57.2%
2019-04-02: Largest Expected Move — 9.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.67	$15.20	$16.09	$16.02	$15.43
Max Pain	$20.00	$20.00	$20.00	$20.00	$20.00
ATM IV	22.2%	13.7%	56.1%	23.9%	18.2%
Expected Move	5.1%	3.9%	9.0%	5.6%	5.2%
HV 20d	14.5%	11.0%	18.7%	11.0%	18.7%
HV 60d	16.5%	15.6%	17.0%	17.0%	17.0%
IV Rank	16.6%	6.3%	57.2%	18.5%	11.7%
IV Percentile	45.0%	10.7%	95.6%	69.0%	38.9%
Term Structure	0.4%	-26.3%	6.0%	-10.2%	1.2%
VWIV	15.5%	15.5%	15.6%	15.5%	15.6%
Skew 25d	-0.2%	-14.9%	5.7%	-4.5%	1.0%
Skew 10d	3.4%	-10.0%	9.9%	-0.3%	-0.2%
Call IV 25d	20.0%	15.0%	31.3%	26.8%	19.6%
Put IV 25d	19.8%	15.5%	24.9%	22.3%	20.6%
Bid-Ask Spread %	70.78	28.62	112.05	112.05	31.90
Gamma HHI	0.56	0.48	0.66	0.59	0.64
Net GEX	4.5K	2.4K	6.8K	6.8K	5.3K
Net DEX	-88.8K	-186.1K	-35.2K	-186.1K	-58.4K
Net VEX	-550	-605	-494	-598	-513
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.40	0.00	0.88	0.00	0.88
Total Volume	17.381	0	45	2	10
Total OI	269.857	220	338	338	234

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
2019-04-01	$16.02	$20.00	23.9%	5.6%	11.0%	18.5%	0.0%	-4.5%	-10.2%	6.8K	-186.1K	-598	0.00	112.05	2	0	229	109
2019-04-02	$16.09	$20.00	42.9%	9.0%	11.1%	41.3%	0.0%	-14.9%	-26.3%	5.5K	-153.2K	-601	0.83	74.70	12	10	209	109
2019-04-03	$15.93	$20.00	41.3%	4.9%	11.1%	39.5%	0.0%	5.7%	4.6%	5.4K	-159.2K	-605	0.45	111.26	22	10	209	109
2019-04-04	$15.89	$20.00	16.2%	4.8%	11.0%	9.3%	0.0%	3.8%	4.1%	5.0K	-176.7K	-575	0.45	52.67	22	10	219	109
2019-04-05	$15.99	$20.00	16.3%	5.0%	11.1%	9.5%	0.0%	4.3%	4.2%	4.8K	-182.6K	-570	0.45	53.96	22	10	219	109
2019-04-08	$15.89	$20.00	56.1%	5.0%	11.4%	57.2%	0.0%	4.7%	3.8%	3.4K	-68.6K	-580	0.00	110.00	0	0	154	109
2019-04-09	$15.78	$20.00	29.4%	4.8%	11.5%	25.2%	0.0%	2.7%	5.3%	2.8K	-66.9K	-575	0.00	47.23	0	0	154	109
2019-04-10	$15.94	$20.00	16.1%	4.6%	12.0%	9.3%	0.0%	-1.9%	1.5%	3.5K	-74.6K	-550	0.00	111.36	0	0	154	109
2019-04-11	$15.97	$20.00	13.7%	3.9%	12.0%	6.3%	0.0%	-0.4%	6.0%	3.8K	-76.5K	-553	0.00	50.63	11	0	154	109
2019-04-12	$16.03	$20.00	14.9%	4.3%	11.9%	7.8%	0.0%	2.7%	5.4%	4.3K	-95.7K	-546	0.27	111.96	11	3	165	109
2019-04-15	$15.89	$20.00	14.4%	4.1%	12.4%	7.2%	0.0%	0.0%	4.5%	4.0K	-89.0K	-539	0.00	34.91	0	2	165	108
2019-04-16	$15.36	$20.00	18.4%	5.3%	17.5%	12.0%	0.0%	0.9%	-0.3%	2.4K	-49.2K	-537	0.00	28.62	0	6	165	109
2019-04-17	$15.28	$20.00	18.9%	5.4%	17.6%	12.5%	0.0%	2.3%	0.4%	2.8K	-36.2K	-539	0.00	39.97	0	6	165	109
2019-04-18	$15.27	$20.00	18.0%	5.2%	17.0%	11.5%	0.0%	-0.2%	-0.1%	4.1K	-53.8K	-521	0.29	97.21	17	5	165	109
2019-04-22	$15.22	$20.00	20.0%	5.7%	16.7%	13.9%	0.0%	0.8%	-1.6%	4.2K	-35.2K	-494	0.22	100.84	23	5	148	72
2019-04-23	$15.53	$20.00	21.5%	6.2%	18.2%	15.7%	0.0%	-0.5%	-3.6%	5.2K	-67.5K	-544	0.22	49.53	23	5	162	69
2019-04-24	$15.55	$20.00	17.2%	4.9%	17.9%	10.5%	0.0%	-2.9%	3.5%	5.2K	-70.8K	-539	0.22	91.67	23	5	162	69
2019-04-25	$15.36	$20.00	15.4%	4.4%	18.2%	8.5%	15.5%	-6.2%	4.4%	5.2K	-54.2K	-531	0.88	107.98	24	21	163	70
2019-04-26	$15.44	$20.00	15.6%	4.5%	17.5%	8.7%	15.6%	-2.9%	2.8%	5.2K	-61.7K	-527	0.88	31.10	24	21	163	70
2019-04-29	$15.20	$20.00	18.7%	5.4%	18.2%	12.3%	0.0%	1.1%	-2.1%	5.1K	-49.0K	-509	0.00	36.86	0	0	164	70
2019-04-30	$15.43	$20.00	18.2%	5.2%	18.7%	11.7%	0.0%	1.0%	1.2%	5.3K	-58.4K	-513	0.00	31.90	0	10	164	70