BDN Options History — September 2020

In September 2020, BDN traded between $9.68 and $11.22. ATM implied volatility averaged 55.2%, placing in the 27.6% IV rank vs the trailing year. The 30-day expected move averaged 14.9%. IV traded above realized volatility by 19.8% (HV 20d: 35.5%). Max pain ranged from $10.00 to $10.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.27.

Notable Days

2020-09-22: Highest Volume — 35 contracts
2020-09-10: Largest IV spike — 77.7% change
2020-09-04: Highest IV Rank — 47.3%
2020-09-01: Largest Expected Move — 24.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$10.57	$9.68	$11.22	$10.82	$10.31
Max Pain	$10.00	$10.00	$10.00	$10.00	$10.00
ATM IV	55.2%	35.6%	89.1%	86.6%	41.5%
Expected Move	14.9%	10.2%	24.8%	24.8%	11.9%
HV 20d	35.5%	29.7%	43.1%	30.8%	42.0%
HV 60d	42.9%	37.5%	50.1%	49.7%	37.5%
IV Rank	27.6%	16.2%	47.3%	45.9%	19.6%
IV Percentile	64.2%	47.6%	92.1%	91.7%	48.4%
Term Structure	-1.4%	-21.5%	18.2%	-10.0%	10.7%
VWIV	45.5%	36.0%	53.7%	46.8%	53.7%
Skew 25d	11.5%	-8.6%	54.9%	54.9%	4.0%
Skew 10d	9.7%	-11.9%	47.0%	-11.9%	5.6%
Call IV 25d	39.0%	29.5%	47.9%	31.9%	37.5%
Put IV 25d	50.5%	25.9%	86.8%	86.8%	41.5%
Bid-Ask Spread %	98.51	39.45	112.68	101.68	98.57
Gamma HHI	0.87	0.55	0.96	0.94	0.58
Net GEX	43.7K	7.7K	74.1K	52.6K	10.9K
Net DEX	-504.5K	-1.1M	-50.9K	-1.1M	-86.9K
Net VEX	-2.2K	-4.4K	-419	-4.4K	-428
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.27	0.00	1.25	0.00	0.00
Total Volume	9.238	0	35	33	3
Total OI	3,525.619	3,479	3,580	3,508	3,486

Daily Data (21 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
2020-09-01	$10.82	$10.00	86.6%	24.8%	30.8%	45.9%	0.0%	54.9%	-10.0%	52.6K	-1.1M	-4.4K	0.00	101.68	33	0	3,311	197
2020-09-02	$11.14	$10.00	54.6%	15.7%	32.6%	27.3%	46.8%	22.5%	10.0%	66.9K	-1.0M	-4.3K	0.00	109.52	4	0	3,336	197
2020-09-03	$11.22	$10.00	74.2%	16.3%	32.3%	38.7%	47.3%	3.7%	-21.1%	74.1K	-902.2K	-3.9K	0.00	100.97	34	0	3,334	197
2020-09-04	$11.22	$10.00	89.1%	15.9%	31.4%	47.3%	43.3%	4.3%	-8.3%	72.1K	-924.3K	-4.0K	0.00	104.08	12	0	3,360	197
2020-09-08	$11.03	$10.00	56.4%	10.2%	29.9%	28.3%	0.0%	-7.4%	-4.6%	67.0K	-658.6K	-3.0K	0.00	98.00	0	0	3,356	197
2020-09-09	$10.82	$10.00	36.4%	10.4%	29.7%	16.6%	0.0%	-7.8%	5.8%	49.8K	-391.6K	-2.0K	0.00	99.40	0	0	3,356	197
2020-09-10	$10.61	$10.00	64.7%	18.6%	30.3%	33.1%	0.0%	34.4%	-13.4%	50.2K	-782.4K	-3.3K	0.00	100.59	0	0	3,356	197
2020-09-11	$10.39	$10.00	35.6%	10.2%	30.3%	16.2%	0.0%	-6.7%	5.1%	39.0K	-354.7K	-1.8K	0.00	100.61	0	0	3,356	197
2020-09-14	$10.73	$10.00	45.8%	13.1%	33.0%	22.1%	0.0%	16.9%	3.0%	50.8K	-466.0K	-2.2K	1.25	90.71	8	10	3,356	197
2020-09-15	$10.97	$10.00	61.6%	17.7%	34.0%	31.3%	36.0%	16.3%	-21.5%	64.4K	-712.6K	-3.0K	0.00	109.51	10	0	3,364	207
2020-09-16	$11.14	$10.00	54.2%	15.6%	33.9%	27.0%	0.0%	26.9%	-16.4%	66.7K	-862.8K	-3.1K	0.00	112.13	1	0	3,373	207
2020-09-17	$11.01	$10.00	55.6%	15.9%	33.6%	27.8%	39.7%	31.9%	0.0%	63.4K	-928.7K	-3.3K	0.00	111.00	4	0	3,354	207
2020-09-18	$10.43	$10.00	47.6%	13.6%	38.6%	23.1%	47.6%	-6.7%	0.0%	26.8K	-197.4K	-1.1K	1.00	112.68	6	6	3,354	207
2020-09-21	$10.02	$10.00	51.0%	14.6%	40.9%	25.1%	0.0%	7.2%	18.2%	27.2K	-212.5K	-1.2K	0.50	88.67	2	1	3,292	190
2020-09-22	$10.09	$10.00	46.1%	13.2%	37.5%	22.3%	43.8%	13.5%	16.1%	24.7K	-187.6K	-1.1K	0.94	102.37	18	17	3,292	191
2020-09-23	$9.68	$10.00	44.0%	12.6%	39.3%	21.1%	48.3%	-8.6%	1.2%	10.0K	-61.6K	-546	0.05	91.57	20	1	3,293	186
2020-09-24	$9.82	$10.00	62.2%	17.8%	40.0%	31.7%	0.0%	15.0%	-18.9%	24.6K	-205.9K	-1.2K	0.00	99.53	0	0	3,297	188
2020-09-25	$9.94	$10.00	46.8%	13.4%	38.8%	22.7%	48.9%	4.7%	4.4%	7.7K	-50.9K	-419	0.00	98.74	0	2	3,297	188
2020-09-28	$10.41	$10.00	53.4%	15.3%	43.1%	26.6%	53.7%	16.6%	5.2%	41.0K	-317.2K	-1.4K	0.00	39.45	2	0	3,297	188
2020-09-29	$10.24	$10.00	52.4%	15.0%	42.9%	26.0%	0.0%	6.7%	7.8%	28.2K	-198.5K	-971	0.00	98.96	0	0	3,298	188
2020-09-30	$10.31	$10.00	41.5%	11.9%	42.0%	19.6%	0.0%	4.0%	10.7%	10.9K	-86.9K	-428	0.00	98.57	3	0	3,298	188