BDN Options History — November 2019

In November 2019, BDN traded between $14.93 and $15.59. ATM implied volatility averaged 15.5%, placing in the 9.9% IV rank vs the trailing year. The 30-day expected move averaged 4.1%. IV traded above realized volatility by 2.9% (HV 20d: 12.6%). 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 18 of 20 days. Put/call ratio averaged 0.12.

Notable Days

2019-11-22: Highest Volume — 27 contracts
2019-11-27: Largest IV spike — 53.8% change
2019-11-11: Highest IV Rank — 21.9%
2019-11-20: Largest Expected Move — 4.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.30	$14.93	$15.59	$15.39	$15.48
Max Pain	$15.00	$15.00	$15.00	$15.00	$15.00
ATM IV	15.5%	9.2%	24.7%	11.8%	15.8%
Expected Move	4.1%	2.6%	4.6%	3.4%	4.5%
HV 20d	12.6%	10.5%	15.0%	11.3%	14.7%
HV 60d	14.4%	13.5%	15.5%	15.5%	14.7%
IV Rank	9.9%	1.7%	21.9%	5.1%	10.3%
IV Percentile	33.2%	1.2%	83.7%	6.3%	37.7%
Term Structure	1.6%	-1.4%	4.8%	3.3%	-1.4%
VWIV	13.6%	12.1%	14.5%	13.5%	12.1%
Skew 25d	0.1%	-33.9%	47.0%	-33.9%	-8.6%
Skew 10d	8.0%	-58.1%	124.9%	-58.1%	-1.7%
Call IV 25d	22.2%	17.1%	59.7%	59.7%	22.3%
Put IV 25d	22.4%	13.8%	66.9%	25.8%	13.8%
Bid-Ask Spread %	43.15	9.92	111.97	9.92	27.39
Gamma HHI	0.93	0.89	0.96	0.93	0.91
Net GEX	10.9K	7.9K	15.3K	12.2K	8.8K
Net DEX	-135.9K	-184.9K	-76.2K	-167.6K	-142.9K
Net VEX	-558	-603	-513	-599	-553
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.12	0.00	0.35	0.00	0.00
Total Volume	2.2	0	27	0	0
Total OI	206.8	177	226	226	204

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
2019-11-01	$15.39	$15.00	11.8%	3.4%	11.3%	5.1%	0.0%	-33.9%	3.3%	12.2K	-167.6K	-599	0.00	9.92	0	0	198	28
2019-11-04	$15.52	$15.00	12.9%	3.9%	11.4%	6.5%	13.5%	-2.6%	3.5%	9.5K	-184.9K	-578	0.00	111.97	5	0	198	28
2019-11-05	$15.23	$15.00	16.9%	4.5%	13.7%	11.7%	0.0%	1.1%	0.2%	12.7K	-140.9K	-603	0.00	24.26	0	0	194	28
2019-11-06	$15.24	$15.00	17.7%	4.3%	12.8%	12.8%	0.0%	0.2%	1.0%	12.9K	-140.8K	-596	0.00	108.11	0	0	194	28
2019-11-07	$15.19	$15.00	14.7%	4.1%	11.9%	8.9%	0.0%	2.4%	1.5%	14.5K	-136.3K	-590	0.00	47.78	0	0	194	28
2019-11-08	$15.27	$15.00	19.8%	3.9%	11.9%	15.6%	0.0%	-1.9%	2.1%	12.8K	-145.4K	-587	0.00	110.00	0	0	194	28
2019-11-11	$15.22	$15.00	24.7%	4.1%	12.0%	21.9%	14.2%	0.3%	1.6%	13.2K	-140.8K	-574	0.00	27.92	0	1	194	28
2019-11-12	$15.18	$15.00	19.4%	4.1%	12.1%	15.1%	0.0%	-0.6%	1.2%	15.3K	-139.7K	-568	0.00	20.26	0	0	194	29
2019-11-13	$15.22	$15.00	14.1%	4.0%	12.1%	8.1%	0.0%	-0.6%	1.4%	14.4K	-140.6K	-557	0.00	32.48	0	0	194	29
2019-11-14	$15.28	$15.00	15.8%	4.5%	11.8%	10.3%	0.0%	0.4%	0.7%	13.0K	-155.3K	-555	0.00	45.30	0	0	194	29
2019-11-15	$15.30	$15.00	14.4%	4.1%	11.2%	8.5%	0.0%	33.8%	1.0%	7.9K	-147.4K	-539	0.00	37.54	0	0	182	29
2019-11-18	$15.32	$15.00	15.6%	4.5%	10.8%	10.0%	0.0%	-1.4%	0.0%	8.3K	-109.8K	-529	0.00	24.70	0	1	157	20
2019-11-19	$15.32	$15.00	14.7%	4.2%	10.9%	8.8%	0.0%	-2.7%	1.2%	8.0K	-110.2K	-532	0.00	35.39	0	0	157	21
2019-11-20	$15.28	$15.00	16.1%	4.6%	10.5%	10.8%	0.0%	47.0%	-0.5%	8.2K	-106.4K	-529	0.00	28.87	0	0	157	21
2019-11-21	$14.93	$15.00	14.8%	4.2%	13.5%	9.0%	0.0%	0.8%	1.3%	8.0K	-76.2K	-513	0.00	35.95	0	0	157	21
2019-11-22	$15.16	$15.00	14.5%	4.2%	14.5%	8.7%	14.5%	-5.5%	0.7%	8.4K	-96.2K	-523	0.35	36.63	20	7	157	21
2019-11-25	$15.35	$15.00	13.2%	3.8%	15.0%	6.9%	0.0%	-5.0%	4.7%	10.5K	-133.1K	-557	0.00	25.99	0	0	177	21
2019-11-26	$15.47	$15.00	9.2%	2.6%	15.0%	1.7%	0.0%	-21.5%	4.8%	10.7K	-148.7K	-530	0.00	24.42	0	0	177	21
2019-11-27	$15.59	$15.00	14.1%	4.1%	14.5%	8.2%	12.1%	1.1%	3.8%	9.1K	-154.2K	-541	0.00	48.21	10	0	177	28
2019-11-29	$15.48	$15.00	15.8%	4.5%	14.7%	10.3%	0.0%	-8.6%	-1.4%	8.8K	-142.9K	-553	0.00	27.39	0	0	176	28