BDN Options History — May 2019

In May 2019, BDN traded between $14.68 and $15.32. ATM implied volatility averaged 17.6%, placing in the 11.2% IV rank vs the trailing year. The 30-day expected move averaged 4.7%. IV traded above realized volatility by 1.5% (HV 20d: 16.1%). Max pain ranged from $15.00 to $20.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 16 of 22 days. Put/call ratio averaged 1.94.

Notable Days

2019-05-09: Highest Volume — 33 contracts
2019-05-15: Largest IV drop — 30.9% change
2019-05-14: Highest IV Rank — 19.6%
2019-05-01: Largest Expected Move — 5.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.01	$14.68	$15.32	$15.31	$15.10
Max Pain	$15.68	$15.00	$20.00	$20.00	$15.00
ATM IV	17.6%	14.4%	24.7%	18.8%	16.0%
Expected Move	4.7%	4.1%	5.4%	5.4%	4.6%
HV 20d	16.1%	11.4%	19.4%	18.6%	12.3%
HV 60d	15.1%	14.1%	16.2%	16.2%	14.2%
IV Rank	11.2%	7.2%	19.6%	12.4%	10.0%
IV Percentile	35.2%	14.7%	75.4%	43.3%	24.2%
Term Structure	0.4%	-4.8%	3.9%	-4.8%	1.7%
VWIV	15.9%	14.9%	16.8%	16.8%	16.0%
Skew 25d	7.0%	-5.9%	81.3%	-3.3%	-0.9%
Skew 10d	11.6%	-10.6%	126.4%	4.6%	1.8%
Call IV 25d	20.4%	18.5%	22.8%	22.0%	22.8%
Put IV 25d	27.4%	14.7%	101.6%	18.7%	21.9%
Bid-Ask Spread %	55.76	12.04	104.39	40.50	25.41
Gamma HHI	0.82	0.64	0.91	0.64	0.81
Net GEX	6.9K	5.0K	8.6K	5.4K	5.3K
Net DEX	-57.4K	-72.7K	-37.4K	-57.6K	-58.7K
Net VEX	-517	-561	-482	-503	-532
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.94	0.00	10.50	0.00	10.50
Total Volume	7.818	0	33	10	23
Total OI	248.091	224	273	234	273

Daily Data (22 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
2019-05-01	$15.31	$20.00	18.8%	5.4%	18.6%	12.4%	0.0%	-3.3%	-4.8%	5.4K	-57.6K	-503	0.00	40.50	0	10	164	70
2019-05-02	$15.23	$20.00	14.4%	4.1%	18.4%	7.2%	0.0%	-3.3%	3.9%	5.3K	-47.6K	-498	0.00	28.14	0	10	164	70
2019-05-03	$15.32	$20.00	18.0%	5.2%	18.7%	11.5%	0.0%	-0.2%	0.8%	5.4K	-52.3K	-493	0.00	22.35	0	10	164	70
2019-05-06	$15.32	$15.00	17.9%	4.7%	18.4%	11.4%	0.0%	-1.2%	0.6%	5.5K	-72.7K	-486	0.00	88.71	0	0	164	60
2019-05-07	$15.03	$15.00	21.1%	5.1%	19.4%	15.3%	0.0%	76.5%	1.1%	5.0K	-46.8K	-482	0.00	102.09	21	0	164	60
2019-05-08	$15.03	$15.00	18.5%	5.0%	19.3%	12.2%	0.0%	1.8%	0.3%	6.2K	-62.6K	-553	0.00	29.68	21	0	184	60
2019-05-09	$14.89	$15.00	20.1%	5.2%	18.9%	14.0%	0.0%	1.8%	-0.2%	5.8K	-48.0K	-537	0.03	103.28	32	1	184	60
2019-05-10	$14.93	$15.00	22.3%	5.1%	18.9%	16.6%	0.0%	81.3%	-0.1%	6.8K	-57.1K	-561	0.00	98.93	0	0	195	60
2019-05-13	$14.88	$15.00	23.7%	5.1%	18.7%	18.3%	0.0%	3.0%	0.3%	6.8K	-58.3K	-554	0.00	54.76	0	1	195	60
2019-05-14	$14.98	$15.00	24.7%	4.8%	19.0%	19.6%	16.8%	2.0%	0.0%	7.3K	-65.3K	-551	5.00	97.88	3	15	195	60
2019-05-15	$15.01	$15.00	17.1%	4.9%	15.1%	10.4%	0.0%	0.8%	0.4%	7.4K	-63.6K	-548	0.00	12.04	1	0	196	59
2019-05-16	$14.95	$15.00	16.5%	4.7%	15.0%	9.7%	0.0%	3.0%	0.1%	7.6K	-65.8K	-542	0.00	45.57	1	0	196	59
2019-05-17	$14.86	$15.00	16.0%	4.6%	15.1%	9.1%	0.0%	3.5%	0.5%	7.5K	-55.7K	-522	0.00	93.53	1	0	196	59
2019-05-20	$14.68	$15.00	17.0%	4.9%	15.6%	10.4%	0.0%	0.2%	-0.2%	6.9K	-37.4K	-483	0.00	88.44	0	0	194	58
2019-05-21	$14.84	$15.00	16.2%	4.6%	14.1%	9.4%	0.0%	-0.3%	-0.4%	7.8K	-50.2K	-507	0.00	90.80	0	0	194	58
2019-05-22	$14.97	$15.00	14.5%	4.2%	14.6%	7.3%	0.0%	-1.9%	0.8%	8.3K	-63.2K	-516	0.00	104.39	0	0	194	58
2019-05-23	$14.95	$15.00	15.5%	4.4%	14.1%	8.5%	0.0%	0.6%	-0.1%	8.3K	-61.7K	-512	0.00	17.00	0	0	194	58
2019-05-24	$15.02	$15.00	14.9%	4.3%	14.1%	7.9%	0.0%	0.1%	0.2%	8.6K	-66.8K	-517	0.00	16.36	0	0	194	58
2019-05-28	$14.98	$15.00	15.3%	4.4%	13.0%	8.3%	0.0%	-1.9%	0.3%	8.5K	-62.7K	-498	0.00	29.86	0	0	194	58
2019-05-29	$14.93	$15.00	14.7%	4.2%	11.7%	7.6%	0.0%	-5.9%	1.5%	8.2K	-52.9K	-490	0.00	19.63	0	1	194	58
2019-05-30	$14.91	$15.00	14.9%	4.3%	11.4%	8.6%	14.9%	-2.0%	1.4%	8.2K	-55.0K	-492	0.00	17.44	0	21	194	59
2019-05-31	$15.10	$15.00	16.0%	4.6%	12.3%	10.0%	16.0%	-0.9%	1.7%	5.3K	-58.7K	-532	10.50	25.41	2	21	194	79