BDN Options History — March 2021

In March 2021, BDN traded between $12.51 and $13.86. ATM implied volatility averaged 31.8%, placing in the 8.0% IV rank vs the trailing year. The 30-day expected move averaged 9.2%. IV traded above realized volatility by 3.2% (HV 20d: 28.6%). Max pain ranged from $12.50 to $12.50. Net GEX was positive for 22 of 23 trading days. Term structure was in contango for 22 of 23 days. Put/call ratio averaged 0.73.

Notable Days

  • 2021-03-08: Highest Volume — 254 contracts
  • 2021-03-16: Largest IV spike — 34.0% change
  • 2021-03-29: Highest IV Rank — 12.1%
  • 2021-03-10: Largest Expected Move — 11.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$13.18$12.51$13.86$12.51$12.97
Max Pain$12.50$12.50$12.50$12.50$12.50
ATM IV31.8%25.7%38.6%30.4%25.7%
Expected Move9.2%7.4%11.1%8.7%7.4%
HV 20d28.6%21.1%34.5%21.1%33.8%
HV 60d28.2%26.6%29.3%27.4%28.5%
IV Rank8.0%4.0%12.1%6.5%5.2%
IV Percentile9.6%0.4%25.8%5.2%0.4%
Term Structure4.5%-1.5%15.9%5.4%11.1%
VWIV30.0%21.0%38.4%30.4%21.0%
Skew 25d22.5%-7.1%109.7%6.0%3.4%
Skew 10d43.7%-11.0%127.8%10.2%1.0%
Call IV 25d27.9%17.9%43.1%31.5%27.9%
Put IV 25d50.4%27.8%152.9%37.6%31.3%
Bid-Ask Spread %60.3815.1996.3760.0118.24
Gamma HHI0.570.410.880.520.81
Net GEX44.1K-36.0K119.0K25.7K119.0K
Net DEX-1.0M-1.9M-87.8K-197.3K-1.0M
Net VEX-7.9K-11.2K-5.8K-10.5K-6.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.730.004.331.620.96
Total Volume90.4351725468106
Total OI5,676.9135,5765,7925,7905,755

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2021-03-01$12.51$12.5030.4%8.7%21.1%6.5%30.4%6.0%5.4%25.7K-197.3K-10.5K1.6260.0126422,2803,510
2021-03-02$12.53$12.5031.3%9.0%21.1%7.0%31.3%-7.1%5.7%32.2K-87.8K-11.2K0.1193.398192,2993,493
2021-03-03$12.82$12.5031.9%9.1%21.5%7.4%31.8%4.2%3.4%30.7K-549.2K-10.1K0.9415.1988832,2823,488
2021-03-04$12.65$12.5035.5%9.7%22.7%9.7%35.0%70.5%1.6%33.2K-373.1K-10.0K0.3096.37181542,2643,437
2021-03-05$12.86$12.5031.8%10.0%22.1%7.3%34.9%56.2%3.1%34.5K-623.3K-9.4K0.9061.0721192,2843,398
2021-03-08$13.55$12.5036.2%10.4%27.4%10.1%36.1%4.8%3.9%31.9K-1.4M-8.5K0.4084.66182722,2943,392
2021-03-09$13.39$12.5031.4%10.8%27.2%7.1%37.7%29.6%2.3%27.2K-1.0M-9.5K2.0050.5221422,2433,414
2021-03-10$13.65$12.5038.6%11.1%27.4%11.6%38.4%19.2%2.7%30.7K-1.4M-8.2K0.7348.8315112,2403,403
2021-03-11$13.61$12.5037.9%10.8%27.6%11.1%24.4%109.7%2.0%-36.0K-1.9M-6.1K0.3152.5474232,2363,393
2021-03-12$13.86$12.5029.8%8.6%27.9%6.1%27.5%7.7%6.8%32.8K-1.8M-6.6K0.0285.315912,2603,378
2021-03-15$13.85$12.5026.4%7.6%28.0%4.0%27.4%8.0%5.8%32.7K-1.7M-7.1K0.0263.909022,2443,377
2021-03-16$13.65$12.5035.4%10.1%28.6%9.6%35.8%4.3%1.3%22.5K-1.2M-8.7K0.4470.4436162,2133,379
2021-03-17$13.70$12.5033.8%9.7%28.5%8.6%32.4%10.2%0.4%37.4K-1.6M-6.4K0.0182.326912,2123,381
2021-03-18$13.56$12.5033.2%9.5%28.3%8.2%27.9%13.4%4.6%24.0K-1.4M-7.3K0.2826.261852,2583,382
2021-03-19$13.40$12.5030.3%8.7%29.1%6.4%22.7%9.8%4.2%38.8K-1.3M-7.5K0.2743.7744122,2693,382
2021-03-22$12.85$12.5030.7%8.8%33.0%6.7%30.8%5.5%3.7%71.8K-611.8K-8.4K0.8357.63118982,2513,325
2021-03-23$12.53$12.5032.7%9.4%34.5%8.6%32.7%67.6%-1.5%49.0K-158.4K-8.2K0.1439.022842,2523,378
2021-03-24$12.69$12.5030.3%8.7%32.8%7.5%30.2%71.2%2.1%61.5K-412.5K-7.9K0.6825.7241282,2763,380
2021-03-25$12.90$12.5027.8%8.0%32.8%7.0%27.9%-2.0%15.9%97.4K-838.2K-6.4K4.3381.4221912,2853,375
2021-03-26$13.28$12.5029.2%8.4%33.9%8.6%24.7%10.7%7.0%55.2K-1.3M-6.3K0.0082.8410302,2803,421
2021-03-29$13.14$12.5033.0%9.5%33.9%12.1%25.3%4.3%0.7%49.9K-1.2M-5.8K1.3377.3112162,3313,421
2021-03-30$13.20$12.5028.3%8.1%34.0%7.6%24.3%10.8%10.9%111.9K-1.4M-6.0K0.2172.081432,3423,412
2021-03-31$12.97$12.5025.7%7.4%33.8%5.2%21.0%3.4%11.1%119.0K-1.0M-6.3K0.9618.2454522,3443,411