BDN Options History — February 2009

In February 2009, BDN traded between $4.72 and $6.81. ATM implied volatility averaged 115.8%, placing in the 61.3% IV rank vs the trailing year. The 30-day expected move averaged 33.8%. IV traded below realized volatility by 16.4% (HV 20d: 132.2%). Max pain ranged from $5.00 to $5.00. Net GEX was positive for 11 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 0.56.

Notable Days

  • 2009-02-12: Highest Volume — 600 contracts
  • 2009-02-12: Largest IV spike — 32.6% change
  • 2009-02-18: Highest IV Rank — 69.4%
  • 2009-02-18: Largest Expected Move — 37.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$5.73$4.72$6.81$6.23$4.72
Max Pain$5.00$5.00$5.00$5.00$5.00
ATM IV115.8%91.3%129.3%104.3%124.0%
Expected Move33.8%26.2%37.1%29.9%35.5%
HV 20d132.2%108.7%143.4%136.7%108.7%
HV 60d161.4%143.6%167.7%167.7%143.6%
IV Rank61.3%46.5%69.4%54.4%66.2%
IV Percentile80.8%68.3%88.5%75.4%83.7%
Term Structure-9.0%-39.5%38.3%38.3%-32.3%
VWIV114.7%83.7%137.1%83.7%119.7%
Skew 25d24.6%-27.8%52.6%36.7%-11.9%
Skew 10d17.0%-30.8%44.7%32.5%-20.5%
Call IV 25d77.4%49.7%104.0%60.6%97.4%
Put IV 25d102.0%76.2%128.0%97.3%85.5%
Bid-Ask Spread %70.1252.6889.7076.7852.68
Gamma HHI0.510.320.650.580.55
Net GEX2.2K-1.6K10.1K5.8K-1.6K
Net DEX2.6K-251.6K137.6K-107.2K137.6K
Net VEX-887-1.5K-228-1.4K-490
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.560.004.000.004.00
Total Volume39.3680600405
Total OI1,985.0531,4582,2042,1921,487

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2009-02-02$6.23$5.00104.3%29.9%136.7%54.4%83.7%36.7%38.3%5.8K-107.2K-1.4K0.0076.784001,428764
2009-02-03$6.20$5.00112.9%32.4%136.3%59.5%0.0%44.3%12.6%6.2K-106.2K-1.4K0.0069.23001,438764
2009-02-04$6.04$5.00109.1%31.3%134.1%57.3%0.0%21.2%11.9%5.2K-51.5K-1.3K0.0065.29001,438764
2009-02-05$6.04$5.00103.1%29.6%133.2%53.6%0.0%39.7%26.7%545-5.9K-1.0K0.0067.51001,438764
2009-02-06$6.79$5.0099.7%28.5%140.2%51.6%100.9%51.0%-11.7%8.8K-251.6K-1.5K0.0060.23401,438764
2009-02-09$6.81$5.0091.3%26.2%140.2%46.5%0.0%52.6%-2.3%10.1K-213.5K-1.3K0.0070.66001,440764
2009-02-10$5.99$5.00110.1%34.6%143.4%57.8%0.0%35.4%-9.3%4.3K-7.4K-1.1K0.0076.06001,440764
2009-02-11$6.13$5.0097.5%35.7%141.0%50.2%0.0%22.9%2.4%3.0K9.0K-9560.0072.22101,440764
2009-02-12$6.13$5.00129.2%37.1%137.5%69.4%131.9%35.3%-15.9%2.5K8.3K-9570.0073.9306001,440764
2009-02-13$5.86$5.00117.7%33.7%138.3%62.4%0.0%23.8%-14.5%96028.5K-7890.0064.28001,440684
2009-02-17$5.10$5.00128.5%36.8%143.4%69.0%0.0%13.2%-28.0%-22492.6K-6260.0083.39001,440644
2009-02-18$5.22$5.00129.3%37.1%125.5%69.4%137.1%-27.8%11.0%-4774.5K-6480.0081.390101,440644
2009-02-19$4.88$5.00129.0%37.0%117.9%69.3%0.0%15.5%-39.5%-27498.6K-6220.7153.5321151,440654
2009-02-20$5.53$5.00120.4%34.5%127.6%64.1%0.0%6.1%-4.5%12715.5K-2280.0089.70401,461669
2009-02-23$5.25$5.00125.5%36.0%128.2%67.2%0.0%8.5%-29.0%-1.0K53.0K-7540.3374.12155801657
2009-02-24$5.55$5.00127.0%36.4%130.3%68.0%0.0%33.1%-33.8%-92681.2K-6420.0063.5910816662
2009-02-25$5.40$5.00122.7%35.2%130.2%65.5%0.0%49.3%-36.3%-75982.8K-6040.0066.3970817662
2009-02-26$5.04$5.00119.7%34.3%119.6%63.7%119.7%18.4%-16.4%-1.4K110.4K-5620.0071.31020820662
2009-02-27$4.72$5.00124.0%35.5%108.7%66.2%0.0%-11.9%-32.3%-1.6K137.6K-4904.0052.6814820667