BDN Options History — May 2022

In May 2022, BDN traded between $10.49 and $11.92. ATM implied volatility averaged 59.7%, placing in the 42.0% IV rank vs the trailing year. The 30-day expected move averaged 14.5%. IV traded above realized volatility by 27.1% (HV 20d: 32.6%). Max pain ranged from $10.00 to $12.50. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 0.63.

Notable Days

2022-05-02: Highest Volume — 132 contracts
2022-05-25: Largest IV spike — 64.1% change
2022-05-09: Highest IV Rank — 100.0%
2022-05-02: Largest Expected Move — 22.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$11.05	$10.49	$11.92	$11.48	$11.20
Max Pain	$11.79	$10.00	$12.50	$12.50	$12.50
ATM IV	59.7%	33.4%	140.6%	76.6%	58.8%
Expected Move	14.5%	7.7%	22.0%	22.0%	16.9%
HV 20d	32.6%	27.5%	36.5%	27.7%	33.0%
HV 60d	28.9%	27.0%	30.5%	27.0%	28.6%
IV Rank	42.0%	17.1%	100.0%	71.5%	36.8%
IV Percentile	80.0%	46.0%	100.0%	98.0%	89.7%
Term Structure	-8.3%	-53.8%	27.5%	-21.1%	-53.8%
VWIV	44.4%	25.8%	55.5%	54.6%	50.7%
Skew 25d	20.8%	-13.6%	160.3%	-11.6%	-2.1%
Skew 10d	45.4%	-27.2%	215.9%	27.2%	-27.2%
Call IV 25d	42.2%	23.4%	134.7%	50.2%	39.0%
Put IV 25d	63.0%	29.2%	295.0%	38.6%	36.9%
Bid-Ask Spread %	116.38	105.89	123.66	119.70	112.37
Gamma HHI	0.52	0.35	0.68	0.65	0.36
Net GEX	995	-852	2.6K	2.1K	-39
Net DEX	9.3K	-32.5K	44.3K	-9.9K	15.2K
Net VEX	-357	-565	-104	-446	-213
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.63	0.41	1.07	0.47	0.79
Total Volume	92.381	58	132	132	68
Total OI	381.952	360	398	360	380

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
2022-05-02	$11.48	$12.50	76.6%	22.0%	27.7%	71.5%	54.6%	-11.6%	-21.1%	2.1K	-9.9K	-446	0.47	119.70	90	42	306	54
2022-05-03	$11.65	$12.50	61.0%	17.5%	28.8%	54.4%	38.9%	43.0%	5.4%	2.6K	-32.5K	-565	0.47	123.66	89	42	306	68
2022-05-04	$11.92	$12.50	51.7%	14.8%	27.5%	44.3%	25.8%	57.1%	27.5%	1.5K	5.1K	-395	0.71	122.77	59	42	310	68
2022-05-05	$11.51	$12.50	74.3%	7.7%	29.3%	68.9%	36.5%	-2.4%	4.8%	1.7K	1.4K	-460	0.71	120.19	59	42	309	68
2022-05-06	$11.42	$12.50	92.5%	12.2%	28.7%	88.9%	52.5%	25.6%	13.3%	2.1K	-12.3K	-528	0.71	114.12	59	42	309	68
2022-05-09	$11.07	$12.50	140.6%	20.6%	29.9%	100.0%	40.4%	16.5%	-44.3%	1.8K	-12.7K	-522	0.71	122.19	59	42	309	68
2022-05-10	$10.66	$12.50	86.2%	18.5%	31.7%	57.9%	39.0%	-6.7%	-43.1%	778	23.6K	-323	0.46	120.25	59	27	309	67
2022-05-11	$10.49	$12.50	49.6%	14.2%	31.8%	29.6%	50.3%	27.5%	-2.0%	1.5K	-121	-438	0.41	116.00	69	28	309	69
2022-05-12	$10.69	$12.50	41.5%	11.9%	31.9%	23.4%	42.0%	59.9%	-5.7%	527	28.5K	-289	0.43	112.28	69	30	319	71
2022-05-13	$10.77	$10.00	37.1%	10.6%	32.4%	20.0%	47.9%	-13.6%	7.3%	719	20.5K	-342	0.43	120.26	69	30	319	73
2022-05-16	$10.84	$10.00	45.6%	13.1%	32.7%	26.5%	55.5%	-3.3%	-1.3%	831	16.1K	-358	0.43	117.21	69	30	319	73
2022-05-17	$11.23	$10.00	49.7%	14.3%	34.5%	29.7%	53.1%	17.8%	-2.0%	882	13.8K	-336	0.45	115.55	69	31	319	74
2022-05-18	$10.95	$10.00	48.0%	13.8%	34.9%	28.4%	48.2%	-6.4%	0.1%	877	15.1K	-350	0.45	114.50	71	32	319	74
2022-05-19	$10.74	$10.00	73.1%	20.9%	35.0%	47.8%	54.3%	160.3%	-17.0%	239	27.5K	-284	0.45	111.58	71	32	322	76
2022-05-20	$10.64	$10.00	34.4%	9.9%	34.9%	17.9%	36.5%	3.3%	0.3%	-852	44.3K	-104	0.46	118.91	71	33	322	76
2022-05-23	$10.79	$12.50	49.3%	14.1%	35.8%	29.4%	48.6%	58.1%	-11.3%	410	18.2K	-279	0.83	105.89	36	30	305	65
2022-05-24	$10.89	$12.50	33.4%	9.6%	36.2%	17.1%	47.1%	15.2%	14.6%	1.2K	3.0K	-357	0.83	109.66	36	30	313	65
2022-05-25	$10.99	$12.50	54.9%	15.7%	36.5%	33.7%	41.6%	-2.4%	-8.5%	886	9.1K	-324	0.81	119.38	37	30	315	65
2022-05-26	$11.00	$12.50	39.1%	11.2%	36.3%	21.5%	35.5%	0.5%	15.1%	1.2K	4.5K	-362	1.07	113.04	28	30	315	65
2022-05-27	$11.22	$12.50	55.7%	16.0%	33.9%	34.3%	34.3%	1.6%	-52.7%	-83	16.0K	-212	1.07	114.41	28	30	315	65
2022-05-31	$11.20	$12.50	58.8%	16.9%	33.0%	36.8%	50.7%	-2.1%	-53.8%	-39	15.2K	-213	0.79	112.37	38	30	315	65