BDN Options History — July 2019

In July 2019, BDN traded between $14.32 and $14.84. ATM implied volatility averaged 14.0%, placing in the 7.4% IV rank vs the trailing year. The 30-day expected move averaged 4.3%. IV traded below realized volatility by 4.9% (HV 20d: 18.9%). Max pain ranged from $15.00 to $15.00. Net GEX was positive for 16 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 1.16.

Notable Days

2019-07-10: Highest Volume — 56 contracts
2019-07-10: Largest IV spike — 65.2% change
2019-07-01: Highest IV Rank — 12.8%
2019-07-09: Largest Expected Move — 5.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$14.61	$14.32	$14.84	$14.39	$14.82
Max Pain	$15.00	$15.00	$15.00	$15.00	$15.00
ATM IV	14.0%	8.4%	18.1%	18.1%	13.1%
Expected Move	4.3%	2.4%	5.3%	5.2%	3.7%
HV 20d	18.9%	16.0%	22.7%	22.7%	16.0%
HV 60d	17.7%	16.9%	18.5%	18.1%	17.7%
IV Rank	7.4%	0.0%	12.8%	12.8%	6.1%
IV Percentile	15.7%	0.0%	42.5%	42.5%	6.7%
Term Structure	1.5%	-2.1%	6.6%	3.9%	-0.2%
VWIV	14.1%	8.7%	20.4%	20.4%	11.6%
Skew 25d	2.4%	-24.5%	69.3%	8.7%	-24.5%
Skew 10d	-5.8%	-61.9%	98.9%	13.9%	-61.9%
Call IV 25d	21.2%	8.1%	41.2%	23.2%	36.1%
Put IV 25d	23.5%	8.7%	89.4%	31.9%	11.6%
Bid-Ask Spread %	55.03	14.13	110.22	110.22	30.29
Gamma HHI	0.89	0.74	0.97	0.91	0.86
Net GEX	5.7K	-2.7K	23.8K	4.9K	-2.7K
Net DEX	1.6K	-32.5K	25.5K	10.8K	19.7K
Net VEX	-306	-369	-239	-302	-320
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.16	0.00	3.67	3.33	3.50
Total Volume	25.818	0	56	0	18
Total OI	242.773	147	303	265	181

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
2019-07-01	$14.39	$15.00	18.1%	5.2%	22.7%	12.8%	0.0%	8.7%	3.9%	4.9K	10.8K	-302	0.00	110.22	0	0	192	73
2019-07-02	$14.61	$15.00	16.2%	4.6%	22.6%	10.2%	20.4%	14.6%	6.3%	6.7K	-194	-329	3.33	109.51	3	10	192	73
2019-07-03	$14.53	$15.00	10.7%	3.1%	18.7%	3.0%	10.4%	-0.4%	5.3%	6.0K	15.7K	-329	3.33	42.23	3	10	191	83
2019-07-05	$14.53	$15.00	12.8%	5.0%	18.6%	5.7%	17.6%	-0.4%	0.7%	6.4K	11.6K	-334	3.67	32.89	3	11	191	83
2019-07-08	$14.70	$15.00	10.7%	4.9%	19.2%	3.0%	0.0%	2.3%	1.2%	10.0K	420	-345	0.00	96.11	4	0	191	82
2019-07-09	$14.78	$15.00	10.5%	5.3%	19.4%	2.8%	0.0%	69.3%	-0.2%	13.0K	-10.0K	-353	0.25	42.58	40	10	191	82
2019-07-10	$14.82	$15.00	17.4%	5.0%	19.3%	11.9%	0.0%	1.5%	0.5%	23.8K	-23.7K	-369	0.22	95.08	46	10	219	80
2019-07-11	$14.61	$15.00	17.0%	4.9%	19.8%	11.3%	0.0%	3.2%	0.4%	10.6K	-26.0K	-360	0.22	103.25	46	10	222	80
2019-07-12	$14.64	$15.00	16.7%	4.8%	19.8%	10.9%	0.0%	0.7%	-0.1%	12.5K	-17.5K	-344	0.22	30.84	46	10	222	80
2019-07-15	$14.49	$15.00	15.3%	4.4%	20.0%	9.1%	0.0%	1.4%	-1.8%	9.3K	-14.5K	-318	0.00	49.53	2	0	222	80
2019-07-16	$14.43	$15.00	15.4%	4.4%	18.9%	9.2%	0.0%	2.3%	-0.8%	8.6K	2.2K	-300	0.50	48.91	4	2	223	80
2019-07-17	$14.49	$15.00	16.7%	4.8%	19.0%	10.9%	0.0%	2.6%	-2.1%	10.4K	-7.4K	-300	0.50	97.44	4	2	226	71
2019-07-18	$14.61	$15.00	17.7%	5.1%	19.3%	12.3%	17.6%	5.3%	-0.8%	11.7K	-32.5K	-304	0.40	48.38	5	2	226	71
2019-07-19	$14.43	$15.00	13.7%	3.9%	19.5%	7.0%	14.6%	7.3%	2.5%	1.8K	13.0K	-260	1.00	45.01	7	7	227	71
2019-07-22	$14.32	$15.00	14.7%	4.2%	18.2%	8.3%	0.0%	3.2%	1.8%	1.7K	6.8K	-239	0.00	26.83	31	0	92	62
2019-07-23	$14.51	$15.00	9.6%	2.8%	18.8%	1.6%	10.2%	1.1%	6.6%	1.2K	5.8K	-241	0.65	99.44	31	20	83	64
2019-07-24	$14.84	$15.00	12.6%	3.6%	20.2%	5.5%	12.6%	-17.5%	1.9%	-2.6K	9.2K	-298	0.65	25.91	31	20	83	84
2019-07-25	$14.57	$15.00	13.4%	3.8%	16.7%	6.6%	15.9%	9.0%	4.3%	-1.2K	23.4K	-266	0.65	14.13	31	20	83	84
2019-07-26	$14.65	$15.00	8.4%	2.4%	16.7%	0.0%	8.7%	0.6%	6.5%	-2.1K	25.5K	-263	0.65	16.16	31	20	83	84
2019-07-29	$14.73	$15.00	13.1%	3.7%	16.7%	6.2%	0.0%	-19.5%	-0.9%	-2.1K	12.6K	-272	0.00	21.57	0	0	83	84
2019-07-30	$14.82	$15.00	15.5%	4.4%	16.8%	9.3%	15.5%	-18.7%	-1.2%	-2.2K	9.6K	-277	3.50	24.31	4	14	83	84
2019-07-31	$14.82	$15.00	13.1%	3.7%	16.0%	6.1%	11.6%	-24.5%	-0.2%	-2.7K	19.7K	-320	3.50	30.29	4	14	87	94