BDN Options History — March 2018

In March 2018, BDN traded between $15.35 and $16.38. ATM implied volatility averaged 47.4%, placing in the 39.0% IV rank vs the trailing year. The 30-day expected move averaged 9.7%. IV traded above realized volatility by 27.0% (HV 20d: 20.4%). Max pain ranged from $17.50 to $17.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 2.89.

Notable Days

  • 2018-03-01: Highest Volume — 788 contracts
  • 2018-03-20: Largest IV spike — 167.1% change
  • 2018-03-01: Highest IV Rank — 100.0%
  • 2018-03-01: Largest Expected Move — 27.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$15.92$15.35$16.38$15.73$15.89
Max Pain$17.50$17.50$17.50$17.50$17.50
ATM IV47.4%17.8%111.4%94.4%60.5%
Expected Move9.7%4.0%27.1%27.1%17.3%
HV 20d20.4%15.5%27.9%27.4%17.8%
HV 60d21.4%20.7%22.3%22.3%22.1%
IV Rank39.0%9.0%100.0%100.0%50.5%
IV Percentile87.1%45.6%100.0%100.0%95.6%
Term Structure-21.7%-140.1%8.2%-140.1%-70.5%
VWIV27.2%14.7%46.0%29.9%28.2%
Skew 25d3.6%-14.5%30.4%-3.0%5.0%
Skew 10d8.7%-10.4%96.0%5.5%-7.8%
Call IV 25d24.6%12.5%50.3%35.0%20.1%
Put IV 25d28.2%20.4%60.2%32.0%25.1%
Bid-Ask Spread %99.1777.09112.79112.79103.96
Gamma HHI0.820.630.930.820.87
Net GEX16.7K6.3K28.2K13.6K20.4K
Net DEX272.3K-48.9K417.2K359.7K-48.9K
Net VEX-1.8K-2.6K-910-2.0K-2.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.890.354.810.373.32
Total Volume345.429279788788324
Total OI1,367.4761,2621,4501,4311,278

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2018-03-01$15.73$17.5094.4%27.1%27.4%100.0%29.9%-3.0%-140.1%13.6K359.7K-2.0K0.37112.79574214950481
2018-03-02$15.70$17.5057.1%16.4%27.2%56.6%46.0%-4.3%-50.8%11.4K358.7K-2.0K0.35112.25574203950481
2018-03-05$15.89$17.50111.4%6.7%27.9%100.0%24.3%30.4%8.2%12.6K305.5K-2.3K2.45106.2883203950481
2018-03-06$16.01$17.5069.6%5.9%23.4%59.4%23.6%6.7%0.9%13.2K388.3K-1.8K2.4593.0883203950481
2018-03-07$16.26$17.5039.3%4.0%23.8%29.8%16.0%12.3%5.4%21.0K191.9K-2.6K2.4592.7583203950481
2018-03-08$16.18$17.5099.9%6.3%23.8%88.9%20.7%-0.5%-0.4%19.2K243.2K-2.4K2.4598.3383203950481
2018-03-09$16.38$17.5029.4%4.7%20.4%20.3%21.1%7.9%4.1%21.3K217.4K-2.5K2.57105.2779203950481
2018-03-12$16.27$17.5043.0%7.8%19.5%33.5%28.3%0.8%-8.1%20.7K261.6K-2.4K2.5799.5379203956481
2018-03-13$16.04$17.5038.9%6.8%20.2%29.5%20.2%-1.1%-4.9%24.0K359.5K-2.0K2.5198.0681203956481
2018-03-14$16.06$17.5028.9%8.3%20.2%19.8%14.7%10.5%-9.0%21.1K352.8K-2.0K2.8893.5881233958481
2018-03-15$16.05$17.5024.1%6.9%19.8%15.0%19.3%8.5%-1.1%20.5K417.2K-1.9K2.88102.2081233958492
2018-03-16$16.14$17.5035.0%10.0%19.1%25.7%31.8%14.0%-29.2%28.2K302.5K-2.1K2.88100.2881233958492
2018-03-19$16.10$17.5021.6%6.2%18.0%12.6%27.3%10.5%-3.8%22.0K184.7K-1.6K4.8194.4448231920342
2018-03-20$16.07$17.5057.6%16.5%17.8%47.7%20.7%-12.2%-74.8%18.3K217.4K-1.6K4.81100.2148231930342
2018-03-21$15.83$17.5057.8%16.6%17.3%47.8%29.4%-14.5%-70.8%12.7K261.7K-1.4K3.8590.3260231930342
2018-03-22$15.69$17.5017.8%5.1%17.1%9.0%27.5%3.3%2.9%9.0K289.3K-1.2K3.8577.0960231945342
2018-03-23$15.35$17.5034.8%10.0%17.8%25.5%38.2%-3.6%-13.7%12.9K259.8K-1.3K3.2597.5875244945342
2018-03-26$15.45$17.5022.0%6.3%17.5%13.0%31.3%1.5%0.7%6.3K303.5K-9103.3296.6575249945328
2018-03-27$15.42$17.5029.0%8.3%15.5%19.9%33.2%-7.0%-4.0%8.0K292.8K-1.0K3.32107.0075249945333
2018-03-28$15.81$17.5023.9%6.8%17.8%14.9%39.7%10.1%3.1%15.3K200.2K-1.4K3.32100.8375249945333
2018-03-29$15.89$17.5060.5%17.3%17.8%50.5%28.2%5.0%-70.5%20.4K-48.9K-2.0K3.32103.9675249945333