BDN Options History — July 2020

In July 2020, BDN traded between $9.97 and $11.18. ATM implied volatility averaged 65.5%, placing in the 33.6% IV rank vs the trailing year. The 30-day expected move averaged 18.3%. IV traded above realized volatility by 6.1% (HV 20d: 59.4%). Max pain ranged from $10.00 to $12.50. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 14 of 22 days. Put/call ratio averaged 1.93.

Notable Days

2020-07-15: Highest Volume — 198 contracts
2020-07-24: Largest IV spike — 93.8% change
2020-07-06: Highest IV Rank — 60.1%
2020-07-13: Largest Expected Move — 27.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$10.66	$9.97	$11.18	$10.78	$10.76
Max Pain	$10.80	$10.00	$12.50	$10.00	$12.50
ATM IV	65.5%	30.7%	111.0%	70.0%	37.4%
Expected Move	18.3%	8.8%	27.8%	20.1%	10.7%
HV 20d	59.4%	47.5%	70.4%	70.4%	48.2%
HV 60d	69.0%	66.5%	71.7%	71.7%	66.5%
IV Rank	33.6%	13.3%	60.1%	36.2%	17.2%
IV Percentile	77.6%	56.7%	95.2%	85.3%	57.5%
Term Structure	20.5%	-17.6%	110.7%	54.2%	40.0%
VWIV	54.4%	28.4%	84.4%	77.0%	34.0%
Skew 25d	11.1%	-93.5%	77.6%	77.6%	17.7%
Skew 10d	0.5%	-60.1%	77.7%	77.7%	19.8%
Call IV 25d	56.7%	25.3%	156.9%	77.0%	25.3%
Put IV 25d	67.8%	30.5%	154.7%	154.7%	43.0%
Bid-Ask Spread %	113.97	78.42	141.48	128.88	98.78
Gamma HHI	0.48	0.22	0.92	0.26	0.40
Net GEX	7.1K	438	35.6K	750	2.5K
Net DEX	-115.2K	-437.3K	-47.8K	-108.9K	-64.6K
Net VEX	-579	-1.5K	-359	-359	-524
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.93	0.00	8.00	1.33	5.00
Total Volume	33.136	0	198	14	0
Total OI	1,631.591	353	2,635	2,576	525

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
2020-07-01	$10.78	$10.00	70.0%	20.1%	70.4%	36.2%	77.0%	77.6%	54.2%	750	-108.9K	-359	1.33	128.88	6	8	2,094	482
2020-07-02	$10.86	$10.00	65.0%	18.6%	70.4%	33.3%	50.2%	15.5%	41.3%	35.6K	-437.3K	-1.5K	0.00	133.83	12	0	2,099	490
2020-07-06	$10.98	$10.00	111.0%	24.5%	69.6%	60.1%	70.6%	-7.2%	-4.2%	438	-101.7K	-386	2.92	141.48	48	140	2,090	490
2020-07-07	$10.18	$10.00	65.1%	18.3%	70.1%	33.4%	51.9%	30.6%	5.3%	15.7K	-124.5K	-717	0.45	114.53	22	10	2,093	505
2020-07-08	$10.16	$10.00	67.7%	22.6%	70.1%	34.9%	62.2%	29.0%	14.4%	12.0K	-105.0K	-647	0.75	136.55	8	6	2,114	506
2020-07-09	$9.97	$10.00	102.1%	18.6%	67.2%	54.9%	0.0%	34.9%	5.8%	21.9K	-238.7K	-1.0K	5.00	129.86	1	5	2,119	501
2020-07-10	$10.43	$10.00	84.6%	19.6%	61.7%	44.7%	72.2%	7.8%	21.4%	23.8K	-216.6K	-817	0.50	120.98	12	6	2,119	501
2020-07-13	$10.72	$10.00	76.0%	27.8%	61.4%	39.7%	0.0%	-71.0%	42.3%	22.5K	-177.1K	-733	0.00	125.37	0	0	2,121	506
2020-07-14	$10.72	$10.00	57.7%	20.5%	61.3%	29.0%	0.0%	-10.0%	110.7%	2.5K	-98.0K	-416	0.00	119.61	0	1	2,121	506
2020-07-15	$10.83	$10.00	76.7%	22.0%	59.0%	40.1%	73.9%	5.3%	-10.9%	1.3K	-104.7K	-444	2.00	129.44	66	132	2,121	507
2020-07-16	$10.43	$10.00	56.4%	16.2%	59.2%	28.3%	0.0%	-93.5%	96.5%	1.2K	-86.3K	-424	8.00	123.86	1	8	2,121	507
2020-07-17	$10.69	$10.00	91.5%	26.2%	59.0%	48.7%	84.4%	68.0%	6.4%	1.2K	-96.3K	-412	0.33	141.43	12	4	2,120	515
2020-07-20	$10.26	$10.00	52.7%	15.1%	60.9%	26.1%	50.6%	8.1%	-3.0%	1.2K	-53.4K	-408	0.25	84.46	12	3	170	183
2020-07-21	$10.47	$10.00	71.5%	20.5%	60.7%	37.1%	68.9%	30.2%	-4.4%	1.3K	-57.4K	-423	1.50	78.42	8	12	181	185
2020-07-22	$10.78	$10.00	58.8%	16.9%	61.4%	29.7%	36.7%	8.8%	-3.6%	1.3K	-67.7K	-447	1.15	84.13	33	38	188	193
2020-07-23	$10.97	$12.50	40.5%	11.6%	57.1%	19.0%	31.5%	1.6%	-17.6%	1.7K	-57.3K	-512	3.30	109.75	10	33	236	231
2020-07-24	$10.65	$12.50	78.5%	22.5%	47.5%	41.1%	48.8%	65.1%	-9.1%	1.6K	-47.8K	-506	0.00	89.48	0	5	236	231
2020-07-27	$10.73	$12.50	66.3%	19.0%	47.5%	34.1%	28.4%	31.7%	-8.4%	1.7K	-49.9K	-486	0.10	93.36	20	2	236	226
2020-07-28	$11.18	$12.50	30.7%	8.8%	49.0%	13.3%	29.8%	-1.6%	40.0%	2.4K	-81.4K	-442	0.23	109.85	31	7	255	227
2020-07-29	$11.07	$12.50	40.4%	11.6%	47.7%	19.0%	34.0%	-7.7%	13.7%	2.4K	-85.3K	-599	5.00	107.44	1	5	285	234
2020-07-30	$10.89	$12.50	40.2%	11.5%	48.0%	18.8%	0.0%	3.7%	19.2%	2.2K	-75.0K	-565	0.00	105.80	0	1	285	240
2020-07-31	$10.76	$12.50	37.4%	10.7%	48.2%	17.2%	0.0%	17.7%	40.0%	2.5K	-64.6K	-524	0.00	98.78	0	0	285	240