BDN Options History — January 2022

In January 2022, BDN traded between $12.58 and $14.68. ATM implied volatility averaged 35.9%, placing in the 32.0% IV rank vs the trailing year. The 30-day expected move averaged 10.4%. IV traded above realized volatility by 9.4% (HV 20d: 26.5%). Max pain ranged from $12.50 to $15.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 0.56.

Notable Days

2022-01-11: Highest Volume — 257 contracts
2022-01-10: Largest IV spike — 82.8% change
2022-01-25: Highest IV Rank — 79.8%
2022-01-25: Largest Expected Move — 20.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$13.73	$12.58	$14.68	$13.98	$12.74
Max Pain	$12.88	$12.50	$15.00	$15.00	$12.50
ATM IV	35.9%	22.3%	72.8%	35.3%	50.8%
Expected Move	10.4%	6.5%	20.9%	10.1%	14.6%
HV 20d	26.5%	24.1%	29.7%	29.7%	27.7%
HV 60d	31.1%	30.0%	31.8%	30.4%	30.0%
IV Rank	32.0%	14.3%	79.8%	31.2%	51.3%
IV Percentile	56.3%	12.7%	99.2%	68.3%	92.5%
Term Structure	0.0%	-38.6%	84.8%	-1.5%	-7.2%
VWIV	39.2%	26.1%	72.1%	52.0%	52.2%
Skew 25d	21.3%	-1.3%	190.3%	11.2%	19.1%
Skew 10d	34.9%	-6.6%	252.6%	-3.1%	18.4%
Call IV 25d	30.1%	12.0%	66.5%	19.3%	31.5%
Put IV 25d	51.5%	27.4%	218.7%	30.5%	50.6%
Bid-Ask Spread %	106.38	80.50	120.66	98.65	111.97
Gamma HHI	0.72	0.53	0.94	0.53	0.57
Net GEX	11.6K	3.0K	24.8K	5.5K	3.3K
Net DEX	-87.9K	-271.5K	30.8K	-55.4K	-19.6K
Net VEX	-885	-1.1K	-608	-843	-746
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.56	0.24	1.45	1.45	0.61
Total Volume	180.45	98	257	115	106
Total OI	645.6	367	820	640	426

Daily Data (20 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
2022-01-03	$13.98	$15.00	35.3%	10.1%	29.7%	31.2%	52.0%	11.2%	-1.5%	5.5K	-55.4K	-843	1.45	98.65	47	68	413	227
2022-01-04	$14.32	$15.00	24.4%	7.0%	27.7%	17.1%	38.1%	19.0%	9.3%	13.9K	-111.0K	-964	1.31	106.73	52	68	414	227
2022-01-05	$14.12	$15.00	26.9%	7.7%	28.1%	20.3%	39.6%	13.3%	6.5%	10.9K	-95.3K	-926	1.26	96.47	54	68	415	227
2022-01-06	$14.35	$12.50	24.0%	9.8%	27.1%	16.5%	40.1%	6.0%	-10.7%	15.6K	-103.5K	-880	1.10	107.78	62	68	417	227
2022-01-07	$14.68	$12.50	22.3%	9.0%	26.4%	14.3%	31.3%	1.8%	-7.0%	21.8K	-166.5K	-985	0.39	111.33	176	68	427	227
2022-01-10	$14.59	$12.50	40.7%	8.8%	25.9%	38.2%	39.7%	2.3%	-7.8%	20.8K	-271.5K	-1.1K	0.24	106.59	176	43	498	227
2022-01-11	$14.47	$12.50	27.2%	7.3%	25.8%	20.7%	26.6%	11.3%	6.7%	24.8K	-144.6K	-986	0.25	99.93	205	52	498	232
2022-01-12	$14.24	$12.50	24.8%	7.1%	26.3%	17.5%	26.1%	2.4%	1.9%	17.6K	-116.3K	-1.0K	0.25	103.21	205	52	528	245
2022-01-13	$14.34	$12.50	27.1%	7.8%	25.5%	20.5%	28.5%	190.3%	-2.5%	22.1K	-161.0K	-1.0K	0.27	99.87	192	52	559	245
2022-01-14	$14.30	$12.50	31.8%	9.1%	25.6%	26.7%	38.1%	18.7%	7.6%	20.7K	-180.6K	-1.1K	0.28	99.82	179	50	571	245
2022-01-18	$14.09	$12.50	22.6%	6.5%	26.2%	14.7%	27.8%	13.4%	3.1%	18.5K	-120.2K	-944	0.28	105.70	179	51	573	245
2022-01-19	$13.71	$12.50	35.0%	10.0%	25.1%	30.7%	36.5%	1.8%	-11.3%	10.4K	-48.9K	-806	0.28	103.83	179	51	573	246
2022-01-20	$13.47	$12.50	31.6%	9.1%	24.1%	26.3%	31.3%	-1.3%	84.8%	6.0K	5.0K	-693	0.31	80.50	179	55	572	246
2022-01-21	$13.16	$12.50	34.7%	10.0%	25.4%	30.4%	36.6%	34.2%	-8.0%	3.4K	30.8K	-608	0.30	114.78	179	53	570	250
2022-01-24	$12.94	$12.50	58.0%	16.6%	25.9%	60.6%	52.4%	30.7%	-6.5%	3.6K	-39.7K	-718	0.43	118.03	92	40	281	86
2022-01-25	$13.06	$12.50	72.8%	20.9%	26.1%	79.8%	72.1%	8.3%	-38.6%	3.0K	-60.0K	-860	0.41	120.66	97	40	337	97
2022-01-26	$12.83	$12.50	41.1%	11.8%	26.7%	38.7%	34.8%	21.1%	-7.7%	4.1K	-37.8K	-828	0.69	111.80	58	40	344	97
2022-01-27	$12.58	$12.50	42.7%	12.2%	27.3%	40.8%	39.4%	6.6%	-11.8%	3.5K	-32.4K	-820	0.69	114.16	58	40	350	97
2022-01-28	$12.66	$12.50	44.7%	12.8%	27.5%	43.3%	41.7%	16.7%	1.4%	3.3K	-28.9K	-837	0.30	115.85	135	40	350	103
2022-01-31	$12.74	$12.50	50.8%	14.6%	27.7%	51.3%	52.2%	19.1%	-7.2%	3.3K	-19.6K	-746	0.61	111.97	66	40	323	103