BDN Options History — May 2021

In May 2021, BDN traded between $13.22 and $14.18. ATM implied volatility averaged 23.3%, placing in the 5.5% IV rank vs the trailing year. The 30-day expected move averaged 6.7%. IV traded above realized volatility by 1.1% (HV 20d: 22.2%). Max pain ranged from $12.50 to $12.50. Net GEX was positive for 2 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 5.69.

Notable Days

  • 2021-05-26: Highest Volume — 3,379 contracts
  • 2021-05-12: Largest IV spike — 50.9% change
  • 2021-05-12: Highest IV Rank — 18.2%
  • 2021-05-12: Largest Expected Move — 11.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$13.73$13.22$14.18$13.64$14.11
Max Pain$12.50$12.50$12.50$12.50$12.50
ATM IV23.3%12.7%39.6%26.1%13.0%
Expected Move6.7%3.6%11.3%7.5%3.7%
HV 20d22.2%14.6%25.4%15.4%25.2%
HV 60d25.7%24.5%26.4%24.5%25.4%
IV Rank5.5%0.0%18.2%5.6%0.3%
IV Percentile6.8%0.0%44.0%4.8%0.4%
Term Structure4.4%-12.1%13.3%-4.9%12.7%
VWIV25.2%12.3%44.8%37.1%29.4%
Skew 25d5.8%-23.4%21.1%-23.4%6.5%
Skew 10d2.6%-31.0%21.3%-31.0%10.0%
Call IV 25d19.1%13.3%47.9%47.9%14.4%
Put IV 25d24.9%19.0%36.6%24.5%20.8%
Bid-Ask Spread %81.5325.71110.44106.0241.31
Gamma HHI0.600.490.740.590.74
Net GEX-11.0K-44.7K141.5K-25.0K131.7K
Net DEX-377.8K-1.6M107.4K-156.6K-1.5M
Net VEX-4.3K-7.7K-2.1K-5.0K-6.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio5.690.0135.680.280.50
Total Volume275.733,379863
Total OI4,536.053,5836,9624,4276,962

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2021-05-03$13.64$12.5026.1%7.5%15.4%5.6%37.1%-23.4%-4.9%-25.0K-156.6K-5.0K0.28106.0267191,0223,405
2021-05-04$13.73$12.5026.9%7.7%14.6%6.3%44.8%-6.7%12.0%-22.4K-179.8K-4.7K0.23108.1053129973,408
2021-05-05$13.31$12.5020.2%5.8%19.0%0.1%19.9%-0.1%9.2%-34.7K56.8K-5.0K2.3372.10701639963,412
2021-05-06$13.73$12.5025.5%9.0%20.8%5.0%0.0%15.8%1.5%-20.7K-195.4K-4.9K0.27100.401541,0603,379
2021-05-07$13.70$12.5025.3%8.2%20.6%4.9%0.0%12.6%-10.8%-30.5K-271.3K-4.2K33.0088.532661,0553,376
2021-05-10$13.65$12.5029.7%6.4%19.9%9.0%23.0%12.6%-0.1%-37.5K-305.3K-3.9K2.2590.098181,0553,380
2021-05-11$13.36$12.5026.2%7.1%21.5%5.7%18.4%9.4%2.4%-29.0K12.3K-4.8K0.3990.161871,0513,394
2021-05-12$13.22$12.5039.6%11.3%21.9%18.2%0.0%21.1%-12.1%-31.3K107.4K-4.8K0.91105.8122201,0543,393
2021-05-13$13.52$12.5030.7%8.8%23.1%10.9%0.0%13.5%1.4%-25.4K-100.1K-4.6K4.6769.863141,0753,389
2021-05-14$13.59$12.5029.8%8.5%22.8%9.9%29.7%13.5%1.9%-24.8K-170.0K-4.5K25.00101.911251,0733,388
2021-05-17$13.64$12.5027.7%7.9%22.8%7.8%15.5%5.2%-2.3%-27.4K-231.3K-4.3K0.89110.4419171,0733,376
2021-05-18$13.77$12.5017.2%4.9%22.7%0.0%42.2%2.6%9.8%-28.2K-345.3K-3.8K0.0594.911911,0753,367
2021-05-19$13.52$12.5023.8%6.8%23.7%6.6%0.0%4.4%3.1%-25.2K-214.2K-4.0K3.50103.924141,0783,365
2021-05-20$13.88$12.5024.0%6.9%24.8%6.9%20.4%5.6%13.3%-44.7K-418.7K-3.2K35.6891.81311,1061,0623,367
2021-05-21$13.93$12.5018.6%5.3%24.7%1.5%19.6%4.7%9.0%-23.5K-394.5K-3.6K0.0328.166621,0582,758
2021-05-24$14.18$12.5013.0%3.7%24.8%0.0%12.3%4.3%8.6%-3.5K-646.1K-2.1K1.1325.7132361,0032,585
2021-05-25$13.97$12.5015.2%4.3%25.4%2.0%15.7%-1.5%11.6%-41.4K-393.2K-2.9K0.2286.9599229942,589
2021-05-26$14.07$12.5021.7%6.2%25.3%8.3%29.4%8.3%8.6%-16.9K-647.9K-2.5K0.0187.723,337421,0862,610
2021-05-27$14.11$12.5012.7%3.6%25.2%0.0%0.0%7.0%12.5%141.5K-1.6M-7.7K2.5626.6616414,3402,611
2021-05-28$14.11$12.5013.0%3.7%25.2%0.3%0.0%6.5%12.7%131.7K-1.5M-6.4K0.5041.31214,3502,612