BDN Options History — February 2023

In February 2023, BDN traded between $5.91 and $7.06. ATM implied volatility averaged 46.7%, placing in the 18.3% IV rank vs the trailing year. The 30-day expected move averaged 12.5%. IV traded above realized volatility by 7.1% (HV 20d: 39.6%). Max pain ranged from $5.00 to $7.50. Net GEX was positive for 6 of 19 trading days. Term structure was in contango for 14 of 19 days. Put/call ratio averaged 0.81.

Notable Days

2023-02-02: Highest Volume — 517 contracts
2023-02-23: Largest IV spike — 126.0% change
2023-02-23: Highest IV Rank — 60.3%
2023-02-23: Largest Expected Move — 33.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$6.50	$5.91	$7.06	$6.58	$5.91
Max Pain	$7.37	$5.00	$7.50	$7.50	$7.50
ATM IV	46.7%	21.9%	117.2%	36.7%	73.9%
Expected Move	12.5%	6.3%	33.6%	10.5%	21.2%
HV 20d	39.6%	34.1%	42.7%	34.1%	37.8%
HV 60d	37.9%	36.7%	40.7%	37.9%	36.8%
IV Rank	18.3%	3.5%	60.3%	12.3%	34.5%
IV Percentile	38.9%	0.8%	97.2%	20.6%	83.7%
Term Structure	-1.3%	-62.6%	26.0%	6.7%	-34.3%
VWIV	44.6%	22.6%	112.8%	34.1%	112.8%
Skew 25d	29.2%	-3.6%	72.0%	24.4%	-1.2%
Skew 10d	31.0%	-18.1%	92.9%	56.1%	-1.9%
Call IV 25d	36.3%	23.6%	57.8%	57.8%	56.5%
Put IV 25d	65.6%	30.0%	107.8%	82.2%	55.3%
Bid-Ask Spread %	91.73	58.47	119.86	58.47	94.70
Gamma HHI	0.65	0.48	0.91	0.81	0.91
Net GEX	-4.8K	-38.7K	8.3K	-9.2K	-38.7K
Net DEX	-346.2K	-568.9K	88.1K	-367.9K	88.1K
Net VEX	-2.7K	-4.6K	-1.8K	-2.0K	-4.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.81	0.00	8.50	0.02	1.00
Total Volume	68.947	0	517	46	6
Total OI	5,242.684	4,780	7,278	4,780	7,278

Daily Data (19 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
2023-02-01	$6.58	$7.50	36.7%	10.5%	34.1%	12.3%	34.1%	24.4%	6.7%	-9.2K	-367.9K	-2.0K	0.02	58.47	45	1	1,584	3,196
2023-02-02	$7.06	$5.00	60.5%	6.6%	41.1%	26.5%	22.6%	66.6%	9.8%	4.9K	-568.9K	-1.8K	0.15	92.54	449	68	1,604	3,196
2023-02-03	$6.88	$7.50	24.2%	9.8%	42.1%	4.9%	0.0%	39.2%	7.6%	8.0K	-509.8K	-1.9K	0.06	98.14	184	11	1,839	3,163
2023-02-06	$6.75	$7.50	45.9%	9.1%	42.7%	17.8%	0.0%	5.8%	-0.5%	8.3K	-491.2K	-2.4K	0.25	88.14	8	2	2,023	3,173
2023-02-07	$6.79	$7.50	45.0%	7.5%	40.1%	17.3%	0.0%	43.4%	3.2%	-1.3K	-530.1K	-2.3K	0.00	100.02	0	0	2,031	3,174
2023-02-08	$6.72	$7.50	27.6%	7.9%	40.4%	6.9%	33.6%	12.6%	1.3%	5.8K	-508.7K	-2.2K	0.17	84.11	12	2	2,031	3,174
2023-02-09	$6.54	$7.50	46.9%	13.5%	40.4%	18.4%	23.1%	67.6%	14.0%	-10.1K	-378.1K	-2.9K	0.54	112.43	28	15	2,033	3,176
2023-02-10	$6.63	$7.50	22.2%	6.4%	38.5%	3.7%	0.0%	45.3%	13.0%	2.2K	-423.3K	-2.4K	0.00	104.01	4	0	2,034	3,187
2023-02-13	$6.67	$7.50	21.9%	6.3%	38.5%	3.5%	0.0%	26.4%	15.0%	-4.7K	-415.3K	-2.6K	0.00	102.25	72	0	2,038	3,187
2023-02-14	$6.64	$7.50	38.2%	11.0%	38.1%	13.2%	0.0%	18.2%	8.3%	-1.4K	-380.2K	-2.8K	0.00	102.60	30	0	2,040	3,187
2023-02-15	$6.71	$7.50	31.1%	8.9%	38.0%	9.0%	0.0%	59.8%	8.4%	-1.5K	-463.0K	-2.4K	0.00	119.86	2	0	2,070	3,187
2023-02-16	$6.56	$7.50	37.7%	10.8%	38.6%	12.9%	0.0%	60.4%	9.4%	3.5K	-376.2K	-2.6K	0.00	103.25	0	1	2,071	3,187
2023-02-17	$6.49	$7.50	31.6%	9.1%	38.5%	9.3%	0.0%	9.1%	13.1%	-7.2K	-384.5K	-2.3K	0.09	89.98	23	2	2,071	3,186
2023-02-21	$6.25	$7.50	38.1%	10.9%	41.0%	13.2%	0.0%	4.2%	17.6%	-11.6K	-245.5K	-2.8K	0.10	76.47	21	2	1,856	3,143
2023-02-22	$6.17	$7.50	51.9%	14.9%	41.2%	21.3%	41.6%	-3.6%	-19.2%	-12.3K	-192.7K	-3.0K	1.65	68.55	20	33	1,856	3,152
2023-02-23	$6.20	$7.50	117.2%	33.6%	41.2%	60.3%	112.8%	72.0%	-62.6%	-12.6K	-235.1K	-2.9K	1.19	65.12	95	113	1,873	3,184
2023-02-24	$6.05	$7.50	82.6%	23.7%	42.1%	39.6%	0.0%	4.7%	-61.6%	-6.2K	-145.8K	-3.4K	0.02	83.34	41	1	1,937	3,265
2023-02-27	$5.99	$7.50	54.4%	15.6%	37.7%	22.9%	0.0%	0.4%	26.0%	-7.2K	-50.1K	-3.6K	8.50	99.00	2	17	1,946	3,279
2023-02-28	$5.91	$7.50	73.9%	21.2%	37.8%	34.5%	0.0%	-1.2%	-34.3%	-38.7K	88.1K	-4.6K	1.00	94.70	3	3	1,951	5,327