BDN Options History — October 2019

In October 2019, BDN traded between $14.43 and $15.30. ATM implied volatility averaged 14.1%, placing in the 7.8% IV rank vs the trailing year. The 30-day expected move averaged 4.0%. IV traded below realized volatility by 1.9% (HV 20d: 16.0%). Max pain ranged from $12.50 to $15.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 19 of 23 days. Put/call ratio averaged 0.48.

Notable Days

2019-10-18: Highest Volume — 61 contracts
2019-10-22: Largest IV spike — 70.4% change
2019-10-02: Highest IV Rank — 19.8%
2019-10-02: Largest Expected Move — 6.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$14.75	$14.43	$15.30	$14.86	$15.30
Max Pain	$14.35	$12.50	$15.00	$15.00	$15.00
ATM IV	14.1%	7.9%	23.5%	19.3%	9.9%
Expected Move	4.0%	2.3%	6.7%	5.5%	2.8%
HV 20d	16.0%	11.2%	18.0%	16.7%	11.2%
HV 60d	17.1%	15.7%	17.9%	17.4%	15.7%
IV Rank	7.8%	0.0%	19.8%	14.3%	2.7%
IV Percentile	23.4%	0.0%	79.0%	62.3%	2.0%
Term Structure	2.4%	-5.0%	8.8%	-3.1%	4.1%
VWIV	15.2%	7.0%	23.4%	19.3%	13.1%
Skew 25d	3.5%	-35.2%	103.3%	-3.7%	-35.2%
Skew 10d	-0.1%	-60.1%	163.0%	-8.5%	-60.1%
Call IV 25d	24.5%	7.0%	57.6%	23.0%	57.6%
Put IV 25d	28.0%	8.5%	141.7%	19.2%	22.4%
Bid-Ask Spread %	65.70	19.09	114.40	48.52	27.08
Gamma HHI	0.95	0.80	0.99	0.97	0.94
Net GEX	9.7K	5.6K	13.5K	5.6K	13.0K
Net DEX	-63.5K	-158.6K	15.7K	-58.7K	-158.6K
Net VEX	-522	-659	-412	-442	-618
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.48	0.00	3.33	0.03	1.00
Total Volume	16.304	0	61	38	0
Total OI	251.826	172	356	240	226

Daily Data (23 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
2019-10-01	$14.86	$15.00	19.3%	5.5%	16.7%	14.3%	19.3%	-3.7%	-3.1%	5.6K	-58.7K	-442	0.03	48.52	37	1	171	69
2019-10-02	$14.57	$15.00	23.5%	6.7%	18.0%	19.8%	23.4%	5.7%	-5.0%	7.8K	-63.2K	-520	0.00	109.00	0	10	208	70
2019-10-03	$14.66	$15.00	18.9%	5.0%	18.0%	13.8%	17.9%	2.5%	1.4%	8.5K	-72.8K	-525	0.00	110.88	16	0	208	69
2019-10-04	$14.69	$12.50	14.8%	4.9%	18.0%	8.4%	17.1%	2.8%	0.9%	10.4K	-80.2K	-558	0.00	70.97	20	0	217	69
2019-10-07	$14.78	$12.50	20.0%	4.8%	17.8%	15.2%	22.9%	1.4%	1.8%	9.8K	-63.8K	-540	0.00	77.01	1	0	199	69
2019-10-08	$14.77	$12.50	19.1%	5.3%	16.0%	14.0%	0.0%	-0.3%	0.2%	9.9K	-58.2K	-532	0.00	103.84	0	0	199	69
2019-10-09	$14.60	$12.50	15.8%	4.5%	16.4%	9.7%	15.9%	4.9%	2.2%	8.9K	-23.2K	-477	0.00	111.01	2	0	199	69
2019-10-10	$14.43	$12.50	12.7%	3.7%	16.8%	5.7%	0.0%	4.8%	4.3%	7.4K	-11.2K	-448	0.00	111.82	0	0	199	69
2019-10-11	$14.47	$12.50	13.0%	3.7%	16.7%	6.1%	0.0%	5.0%	2.3%	6.4K	-65.6K	-518	0.00	114.40	0	0	199	69
2019-10-14	$14.43	$15.00	9.4%	2.7%	16.4%	1.4%	8.5%	1.8%	8.8%	6.6K	123	-412	0.00	103.10	23	0	198	69
2019-10-15	$14.47	$15.00	9.0%	2.6%	16.5%	0.8%	0.0%	103.3%	8.5%	8.9K	-12.5K	-436	0.00	42.02	0	2	209	69
2019-10-16	$14.51	$15.00	12.7%	3.6%	16.5%	5.7%	0.0%	13.8%	7.0%	9.5K	-22.7K	-450	0.07	40.81	27	2	209	69
2019-10-17	$14.65	$15.00	17.3%	5.0%	16.8%	11.7%	17.3%	-1.0%	-0.6%	10.7K	-59.6K	-468	1.42	101.10	24	34	229	71
2019-10-18	$14.53	$15.00	10.0%	2.9%	16.9%	2.1%	10.0%	-0.1%	7.1%	7.2K	15.7K	-444	0.97	109.17	31	30	248	108
2019-10-21	$14.68	$15.00	7.9%	2.3%	17.0%	0.0%	7.0%	1.7%	7.2%	8.9K	-37.1K	-455	0.00	45.70	35	0	143	29
2019-10-22	$14.72	$15.00	13.4%	3.9%	16.0%	7.2%	0.0%	3.5%	1.5%	9.4K	-57.7K	-529	0.00	38.36	7	0	168	29
2019-10-23	$14.88	$15.00	13.7%	3.9%	16.2%	7.6%	13.7%	-5.9%	0.3%	10.9K	-78.7K	-566	3.33	19.09	3	10	175	29
2019-10-24	$14.95	$15.00	12.7%	3.6%	15.4%	6.3%	12.7%	-25.9%	2.1%	11.6K	-88.2K	-566	0.91	19.56	11	10	174	28
2019-10-25	$14.90	$15.00	13.7%	3.9%	15.4%	7.5%	13.7%	-19.3%	2.1%	11.7K	-88.4K	-575	0.00	28.09	21	0	179	28
2019-10-28	$14.94	$15.00	13.1%	3.7%	15.3%	6.8%	13.1%	50.6%	1.7%	13.5K	-103.5K	-645	0.00	21.07	8	0	199	28
2019-10-29	$15.07	$15.00	14.2%	4.1%	13.0%	8.3%	0.0%	-16.5%	1.1%	13.5K	-124.9K	-659	1.00	29.59	5	5	203	28
2019-10-30	$15.28	$15.00	11.5%	3.3%	11.3%	4.7%	0.0%	-14.1%	-0.5%	13.0K	-148.4K	-630	0.00	29.03	0	0	198	28
2019-10-31	$15.30	$15.00	9.9%	2.8%	11.2%	2.7%	0.0%	-35.2%	4.1%	13.0K	-158.6K	-618	0.00	27.08	0	0	198	28