BDN Options History — July 2021

In July 2021, BDN traded between $13.48 and $14.47. ATM implied volatility averaged 27.0%, placing in the 18.6% IV rank vs the trailing year. The 30-day expected move averaged 7.0%. IV traded below realized volatility by 0.6% (HV 20d: 27.6%). Max pain ranged from $12.50 to $15.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 0.50.

Notable Days

2021-07-02: Highest Volume — 424 contracts
2021-07-02: Largest IV spike — 77.9% change
2021-07-13: Highest IV Rank — 36.3%
2021-07-02: Largest Expected Move — 10.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$13.95	$13.48	$14.47	$13.95	$13.95
Max Pain	$14.88	$12.50	$15.00	$15.00	$15.00
ATM IV	27.0%	17.9%	40.4%	21.3%	17.9%
Expected Move	7.0%	5.1%	10.9%	6.1%	5.1%
HV 20d	27.6%	20.1%	34.6%	21.4%	32.2%
HV 60d	24.3%	21.6%	27.2%	21.8%	26.3%
IV Rank	18.6%	8.6%	36.3%	10.0%	8.6%
IV Percentile	22.0%	4.0%	60.7%	6.0%	4.0%
Term Structure	4.4%	-6.0%	34.3%	-6.0%	10.7%
VWIV	25.1%	14.9%	33.9%	32.7%	14.9%
Skew 25d	5.5%	-5.9%	15.3%	0.9%	8.2%
Skew 10d	4.4%	-7.1%	16.3%	0.9%	11.3%
Call IV 25d	23.9%	16.1%	28.7%	20.8%	16.1%
Put IV 25d	29.4%	20.1%	35.5%	21.8%	24.3%
Bid-Ask Spread %	78.52	24.31	105.46	88.29	99.15
Gamma HHI	0.64	0.48	0.90	0.88	0.61
Net GEX	45.3K	-3.1K	181.4K	86.5K	14.5K
Net DEX	-147.2K	-852.9K	219.9K	-343.8K	-144.0K
Net VEX	-2.8K	-4.7K	-1.2K	-3.5K	-2.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.50	0.00	2.86	0.00	0.00
Total Volume	46.762	2	424	6	43
Total OI	4,479.619	1,135	7,647	7,645	1,239

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
2021-07-01	$13.95	$15.00	21.3%	6.1%	21.4%	10.0%	0.0%	0.9%	-6.0%	86.5K	-343.8K	-3.5K	0.00	88.29	6	0	4,660	2,985
2021-07-02	$13.91	$15.00	37.9%	10.9%	21.4%	26.7%	32.7%	5.5%	-0.7%	118.0K	-852.9K	-4.7K	0.01	87.06	419	5	4,662	2,985
2021-07-06	$13.68	$12.50	32.4%	9.2%	21.0%	21.2%	17.4%	5.2%	13.8%	42.6K	132.2K	-3.0K	1.83	24.31	30	55	4,438	2,990
2021-07-07	$13.57	$15.00	34.6%	9.4%	20.1%	25.7%	25.2%	7.1%	2.7%	18.1K	185.6K	-3.2K	0.15	95.10	27	4	4,448	3,016
2021-07-08	$13.51	$15.00	29.8%	6.7%	20.1%	20.4%	21.2%	-5.9%	6.8%	-3.1K	219.9K	-2.7K	2.20	105.46	5	11	4,450	3,010
2021-07-09	$13.89	$15.00	37.4%	6.4%	23.2%	28.8%	0.0%	6.8%	-1.2%	120.8K	-286.7K	-4.2K	0.23	88.23	13	3	4,454	3,020
2021-07-12	$14.18	$15.00	29.3%	6.6%	24.7%	22.4%	0.0%	8.1%	4.3%	148.4K	-168.9K	-3.1K	0.18	48.38	34	6	4,446	3,016
2021-07-13	$13.93	$15.00	40.4%	5.6%	25.3%	36.3%	0.0%	12.0%	5.6%	90.0K	-45.7K	-2.9K	0.00	101.20	7	0	4,419	3,013
2021-07-14	$14.11	$15.00	24.6%	7.1%	25.8%	16.7%	0.0%	6.9%	-0.3%	181.4K	-455.6K	-3.4K	0.08	98.54	13	1	4,424	3,013
2021-07-15	$14.02	$15.00	19.6%	5.6%	25.4%	10.4%	33.9%	10.6%	34.3%	14.1K	104.2K	-2.5K	0.40	55.32	5	2	4,426	3,014
2021-07-16	$13.97	$15.00	24.6%	7.1%	25.0%	16.7%	23.7%	7.6%	1.4%	13.2K	130.7K	-2.4K	0.18	47.50	17	3	4,422	3,014
2021-07-19	$13.48	$15.00	27.4%	7.9%	27.2%	20.1%	31.1%	15.3%	6.3%	5.8K	-93.4K	-2.4K	1.07	94.39	15	16	702	433
2021-07-20	$14.23	$15.00	22.8%	6.5%	32.7%	14.8%	25.7%	7.6%	-0.3%	15.0K	-263.5K	-2.6K	0.12	88.72	49	6	704	436
2021-07-21	$14.47	$15.00	24.9%	7.1%	32.6%	17.5%	27.4%	5.3%	-3.0%	7.0K	-140.7K	-1.2K	0.10	92.00	20	2	701	437
2021-07-22	$14.03	$15.00	24.7%	7.1%	34.5%	17.3%	24.8%	-2.5%	1.5%	13.3K	-199.7K	-2.4K	2.86	91.02	7	20	712	437
2021-07-23	$13.98	$15.00	23.9%	6.8%	34.5%	16.2%	28.2%	7.5%	-0.1%	10.4K	-177.5K	-2.5K	0.00	86.61	2	0	713	457
2021-07-26	$14.07	$15.00	25.9%	7.4%	34.6%	18.7%	26.2%	-4.4%	1.5%	12.8K	-193.1K	-2.4K	0.04	25.80	53	2	713	457
2021-07-27	$13.93	$15.00	18.1%	5.2%	32.4%	8.7%	15.4%	0.4%	7.5%	11.4K	-157.7K	-2.3K	0.03	99.96	30	1	714	457
2021-07-28	$14.05	$15.00	29.2%	8.4%	32.6%	23.0%	28.8%	0.9%	-4.2%	16.4K	-187.4K	-2.2K	0.92	99.14	13	12	757	458
2021-07-29	$14.01	$15.00	19.7%	5.6%	32.6%	10.8%	14.9%	12.6%	12.3%	15.1K	-154.0K	-2.0K	0.04	32.81	24	1	763	457
2021-07-30	$13.95	$15.00	17.9%	5.1%	32.2%	8.6%	0.0%	8.2%	10.7%	14.5K	-144.0K	-2.2K	0.00	99.15	43	0	772	467