BDN Options History — April 2022

In April 2022, BDN traded between $11.75 and $14.14. ATM implied volatility averaged 48.5%, placing in the 40.7% IV rank vs the trailing year. The 30-day expected move averaged 11.1%. IV traded above realized volatility by 22.0% (HV 20d: 26.5%). Max pain ranged from $12.50 to $12.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.35.

Notable Days

2022-04-11: Highest Volume — 178 contracts
2022-04-28: Largest IV spike — 158.5% change
2022-04-11: Highest IV Rank — 84.7%
2022-04-28: Largest Expected Move — 24.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$12.81	$11.75	$14.14	$14.14	$11.75
Max Pain	$12.50	$12.50	$12.50	$12.50	$12.50
ATM IV	48.5%	27.7%	88.7%	42.4%	53.4%
Expected Move	11.1%	8.0%	24.6%	8.4%	15.3%
HV 20d	26.5%	21.5%	28.9%	21.5%	27.2%
HV 60d	26.1%	25.1%	26.9%	25.1%	26.9%
IV Rank	40.7%	18.0%	84.7%	34.0%	46.1%
IV Percentile	72.1%	37.7%	99.6%	71.4%	87.3%
Term Structure	-3.4%	-28.7%	19.5%	19.5%	0.6%
VWIV	38.2%	23.6%	76.4%	33.9%	44.1%
Skew 25d	25.7%	-1.0%	156.6%	16.6%	-1.0%
Skew 10d	49.3%	-10.0%	259.8%	-8.7%	8.3%
Call IV 25d	32.8%	18.5%	46.4%	20.6%	40.6%
Put IV 25d	58.5%	29.3%	191.8%	37.2%	39.6%
Bid-Ask Spread %	107.62	95.69	119.30	113.06	116.21
Gamma HHI	0.65	0.47	0.78	0.74	0.64
Net GEX	4.3K	470	10.8K	10.8K	2.3K
Net DEX	-61.5K	-145.3K	-11.1K	-145.3K	-18.7K
Net VEX	-781	-1.0K	-507	-1.0K	-507
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.35	0.13	0.72	0.40	0.26
Total Volume	110.65	34	178	112	113
Total OI	456.95	358	554	510	358

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
2022-04-01	$14.14	$12.50	42.4%	8.4%	21.5%	34.0%	33.9%	16.6%	19.5%	10.8K	-145.3K	-1.0K	0.40	113.06	80	32	414	96
2022-04-04	$13.86	$12.50	43.1%	8.3%	22.1%	34.9%	30.1%	0.5%	-3.9%	8.7K	-104.9K	-905	0.19	95.83	119	23	414	96
2022-04-05	$13.25	$12.50	69.7%	11.0%	27.6%	64.0%	38.9%	7.5%	-14.9%	7.0K	-90.7K	-946	0.24	101.85	97	23	413	96
2022-04-06	$13.08	$12.50	66.4%	11.9%	26.7%	60.4%	42.8%	5.3%	-9.4%	5.5K	-84.5K	-959	0.29	108.66	96	28	425	96
2022-04-07	$12.79	$12.50	60.3%	11.4%	27.1%	53.7%	42.6%	3.8%	-8.8%	3.8K	-51.5K	-845	0.30	95.69	104	31	425	102
2022-04-08	$12.84	$12.50	58.7%	9.2%	27.0%	51.9%	32.5%	84.3%	0.2%	3.0K	-31.9K	-821	0.21	96.17	145	31	435	119
2022-04-11	$12.71	$12.50	88.7%	13.2%	27.1%	84.7%	45.7%	8.1%	-22.1%	470	-31.3K	-816	0.23	96.11	145	33	431	119
2022-04-12	$12.58	$12.50	57.7%	10.9%	27.3%	50.8%	39.4%	1.6%	-2.2%	773	-11.1K	-758	0.22	101.28	145	32	431	122
2022-04-13	$12.81	$12.50	28.2%	8.1%	27.8%	18.5%	23.6%	19.4%	6.1%	1.0K	-30.3K	-749	0.22	106.96	145	32	431	122
2022-04-14	$12.79	$12.50	38.8%	11.1%	27.2%	30.1%	36.9%	10.8%	2.7%	4.8K	-41.9K	-724	0.26	104.22	115	30	431	122
2022-04-18	$12.61	$12.50	43.3%	12.4%	27.4%	35.1%	45.1%	21.9%	-14.6%	4.0K	-77.9K	-785	0.63	115.16	35	22	318	49
2022-04-19	$12.90	$12.50	27.7%	8.0%	28.9%	18.0%	26.4%	88.4%	-2.1%	4.8K	-70.0K	-729	0.59	113.21	37	22	324	50
2022-04-20	$12.94	$12.50	30.4%	8.7%	28.4%	20.9%	28.6%	7.6%	0.8%	5.3K	-72.8K	-741	0.72	107.58	32	23	326	50
2022-04-21	$12.91	$12.50	35.0%	10.0%	28.2%	25.9%	33.4%	21.2%	-2.2%	5.3K	-70.6K	-735	0.45	110.16	51	23	331	51
2022-04-22	$12.69	$12.50	37.7%	10.8%	27.9%	29.0%	37.3%	11.9%	-4.9%	4.9K	-62.1K	-735	0.45	108.02	51	23	336	51
2022-04-25	$12.57	$12.50	36.1%	10.4%	27.1%	27.2%	36.6%	156.6%	1.7%	3.9K	-70.3K	-763	0.38	114.20	61	23	336	51
2022-04-26	$12.37	$12.50	33.0%	9.4%	27.0%	23.7%	33.1%	24.4%	6.1%	4.0K	-65.9K	-774	0.53	110.23	43	23	346	51
2022-04-27	$12.22	$12.50	33.3%	9.5%	22.9%	24.1%	36.5%	21.9%	8.6%	3.4K	-41.5K	-646	0.13	119.30	30	4	348	51
2022-04-28	$12.31	$12.50	86.0%	24.6%	23.5%	81.8%	76.4%	2.5%	-28.7%	3.2K	-55.9K	-644	0.26	118.51	88	23	318	54
2022-04-29	$11.75	$12.50	53.4%	15.3%	27.2%	46.1%	44.1%	-1.0%	0.6%	2.3K	-18.7K	-507	0.26	116.21	90	23	304	54