BDN Options History — September 2019

In September 2019, BDN traded between $14.43 and $15.22. ATM implied volatility averaged 18.2%, placing in the 13.0% IV rank vs the trailing year. The 30-day expected move averaged 4.9%. IV traded above realized volatility by 3.6% (HV 20d: 14.6%). Max pain ranged from $15.00 to $15.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 13 of 20 days. Put/call ratio averaged 0.28.

Notable Days

2019-09-03: Highest Volume — 52 contracts
2019-09-10: Largest IV spike — 307.0% change
2019-09-10: Highest IV Rank — 65.4%
2019-09-10: Largest Expected Move — 9.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$14.84	$14.43	$15.22	$14.43	$15.22
Max Pain	$15.00	$15.00	$15.00	$15.00	$15.00
ATM IV	18.2%	11.1%	58.2%	12.9%	14.5%
Expected Move	4.9%	3.2%	9.6%	3.7%	4.2%
HV 20d	14.6%	12.3%	18.6%	18.6%	13.8%
HV 60d	17.9%	16.4%	19.0%	18.3%	16.9%
IV Rank	13.0%	3.6%	65.4%	5.9%	8.0%
IV Percentile	35.3%	2.4%	98.4%	7.5%	16.3%
Term Structure	-0.1%	-19.9%	7.3%	4.7%	4.0%
VWIV	15.4%	11.7%	17.9%	13.9%	11.7%
Skew 25d	-0.5%	-9.7%	8.9%	3.9%	-9.7%
Skew 10d	-3.2%	-15.6%	17.0%	10.6%	-15.6%
Call IV 25d	20.9%	10.4%	31.8%	17.2%	27.0%
Put IV 25d	20.5%	11.9%	40.6%	21.1%	17.3%
Bid-Ask Spread %	74.89	18.00	121.17	94.22	69.76
Gamma HHI	0.84	0.41	0.97	0.77	0.96
Net GEX	4.8K	1.1K	7.5K	4.1K	7.4K
Net DEX	-60.0K	-103.6K	-26.9K	-29.4K	-103.6K
Net VEX	-425	-468	-365	-371	-447
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.28	0.00	2.00	0.00	0.00
Total Volume	8.75	0	52	52	1
Total OI	348.1	221	413	341	241

Daily Data (20 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
2019-09-03	$14.43	$15.00	12.9%	3.7%	18.6%	5.9%	13.9%	3.9%	4.7%	4.1K	-29.4K	-371	0.00	94.22	0	52	151	190
2019-09-04	$14.57	$15.00	11.1%	3.2%	18.1%	3.6%	11.9%	1.5%	7.3%	4.2K	-35.1K	-391	0.00	18.00	0	2	151	242
2019-09-05	$14.48	$15.00	15.5%	4.1%	17.3%	9.4%	0.0%	-1.9%	0.5%	3.9K	-26.9K	-365	0.00	102.36	0	0	151	244
2019-09-06	$14.52	$15.00	15.2%	5.3%	16.7%	8.9%	0.0%	3.7%	-1.2%	3.8K	-29.5K	-373	0.00	65.88	0	0	151	244
2019-09-09	$14.65	$15.00	14.3%	4.6%	15.8%	7.8%	16.2%	6.0%	1.4%	4.2K	-32.6K	-365	0.00	101.95	10	0	151	244
2019-09-10	$14.97	$15.00	58.2%	9.6%	16.7%	65.4%	0.0%	8.9%	-19.9%	1.1K	-60.5K	-444	0.00	121.17	20	0	151	244
2019-09-11	$14.98	$15.00	17.9%	5.1%	16.7%	12.6%	17.9%	3.0%	-0.0%	3.9K	-58.0K	-403	0.38	40.42	16	6	147	244
2019-09-12	$14.89	$15.00	16.2%	4.7%	13.8%	10.3%	16.1%	2.1%	1.2%	4.7K	-59.4K	-436	0.10	104.96	10	1	157	241
2019-09-13	$14.78	$15.00	17.5%	5.0%	14.2%	12.0%	0.0%	3.9%	-0.1%	4.7K	-57.0K	-445	0.00	101.39	2	0	167	241
2019-09-16	$14.88	$15.00	17.0%	4.9%	12.9%	11.3%	17.0%	4.5%	0.4%	5.0K	-62.2K	-438	0.00	100.51	10	0	167	241
2019-09-17	$14.86	$15.00	17.2%	4.9%	12.7%	11.5%	0.0%	4.5%	0.2%	4.0K	-62.3K	-437	0.00	100.54	0	0	167	241
2019-09-18	$14.90	$15.00	17.2%	4.9%	12.4%	11.6%	0.0%	-5.2%	0.6%	4.6K	-68.8K	-443	0.00	102.86	0	0	167	241
2019-09-19	$14.98	$15.00	17.1%	4.9%	12.5%	11.4%	17.1%	-3.9%	0.3%	1.9K	-73.2K	-445	2.00	101.23	5	10	167	246
2019-09-20	$14.88	$15.00	16.7%	4.8%	12.8%	11.0%	0.0%	-5.3%	1.3%	4.0K	-58.4K	-439	0.00	106.07	10	0	162	246
2019-09-23	$15.02	$15.00	16.4%	4.7%	12.3%	10.6%	0.0%	-5.1%	0.6%	7.5K	-76.6K	-420	0.00	36.29	0	10	162	59
2019-09-24	$14.77	$15.00	19.3%	5.5%	14.0%	14.4%	0.0%	-2.7%	-2.9%	6.6K	-61.8K	-460	0.00	25.30	0	0	172	59
2019-09-25	$14.89	$15.00	17.1%	4.9%	13.8%	11.4%	17.0%	-4.3%	-0.0%	7.1K	-71.6K	-451	0.00	30.88	0	10	172	59
2019-09-26	$15.10	$15.00	17.3%	5.0%	14.1%	11.7%	0.0%	-6.1%	-1.0%	6.7K	-85.0K	-468	0.00	38.59	0	0	172	69
2019-09-27	$15.12	$15.00	16.2%	4.6%	13.8%	10.3%	0.0%	-7.0%	1.7%	6.8K	-88.8K	-465	0.00	35.40	0	0	172	69
2019-09-30	$15.22	$15.00	14.5%	4.2%	13.8%	8.0%	11.7%	-9.7%	4.0%	7.4K	-103.6K	-447	0.00	69.76	1	0	172	69