BDN Options History — March 2023

In March 2023, BDN traded between $4.16 and $5.88. ATM implied volatility averaged 63.3%, placing in the 28.1% IV rank vs the trailing year. The 30-day expected move averaged 16.6%. IV traded above realized volatility by 28.4% (HV 20d: 34.9%). Max pain ranged from $5.00 to $7.50. Net GEX was positive for 0 of 23 trading days. Term structure was in contango for 11 of 23 days. Put/call ratio averaged 41.03.

Notable Days

  • 2023-03-21: Highest Volume — 3,052 contracts
  • 2023-03-10: Largest IV spike — 98.8% change
  • 2023-03-06: Highest IV Rank — 45.0%
  • 2023-03-03: Largest Expected Move — 24.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.96$4.16$5.88$5.87$4.69
Max Pain$6.41$5.00$7.50$7.50$5.00
ATM IV63.3%37.5%91.5%74.4%54.2%
Expected Move16.6%7.6%24.3%21.3%15.5%
HV 20d34.9%21.4%56.0%36.1%56.0%
HV 60d38.8%35.1%43.6%36.7%43.3%
IV Rank28.1%12.8%45.0%34.8%21.1%
IV Percentile68.5%23.4%93.7%84.1%59.1%
Term Structure2.3%-68.1%141.6%-68.1%-2.9%
VWIV61.8%27.9%92.7%52.6%92.7%
Skew 25d36.2%-25.4%131.9%-4.3%20.5%
Skew 10d59.5%-37.1%262.4%-4.4%28.4%
Call IV 25d71.6%35.6%143.3%58.8%63.3%
Put IV 25d107.8%46.8%198.7%54.6%83.8%
Bid-Ask Spread %79.5054.84119.2787.5970.72
Gamma HHI0.940.650.990.940.97
Net GEX-46.3K-116.2K-13.5K-43.8K-27.2K
Net DEX1.6M-14.3K2.9M-14.3K1.4M
Net VEX-7.3K-11.1K-3.7K-3.7K-5.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio41.030.11502.000.160.11
Total Volume717.21743,0522240
Total OI10,872.6097,28314,0827,2839,997

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-03-01$5.87$7.5074.4%21.3%36.1%34.8%0.0%-4.3%-68.1%-43.8K-14.3K-3.7K0.1687.591931,9515,332
2023-03-02$5.88$7.5063.8%18.3%36.0%28.5%52.6%-7.5%-34.7%-13.5K54.7K-4.5K91.8766.58232,1131,9735,332
2023-03-03$5.84$7.5084.6%24.3%22.1%40.9%80.2%-6.0%-58.3%-71.2K391.2K-6.7K0.9854.8457561,9867,483
2023-03-06$5.83$7.5091.5%8.6%21.4%45.0%56.1%44.4%9.1%-31.7K360.5K-6.8K17.5077.412352,0397,510
2023-03-07$5.67$7.5071.9%15.5%22.2%33.3%71.3%0.4%-11.8%-36.2K481.7K-6.8K1.7671.5229512,0397,519
2023-03-08$5.59$7.5061.1%16.7%21.5%26.9%58.9%6.9%-13.7%-60.7K879.9K-9.0K5.3676.6511592,0679,535
2023-03-09$5.50$7.5039.7%13.8%21.7%14.1%43.9%-25.4%-3.7%-48.1K1.0M-9.6K0.2561.54106272,0689,570
2023-03-10$5.24$7.5079.0%17.7%25.0%37.5%63.3%57.6%-15.5%-78.6K1.8M-11.1K31.1474.7272181,9739,613
2023-03-13$5.19$7.5081.2%23.3%23.2%38.8%75.0%131.9%-59.1%-69.9K2.0M-11.0K502.0084.2763,0121,9779,676
2023-03-14$5.00$7.5061.9%7.6%23.8%27.3%27.9%84.0%15.3%-116.2K2.3M-10.1K1.6498.08741211,9829,383
2023-03-15$4.96$7.5046.7%13.4%23.6%18.3%92.1%43.7%14.6%-68.5K2.2M-10.1K3.3897.75421422,0349,373
2023-03-16$4.72$7.5058.0%16.6%24.7%25.0%57.9%7.5%141.6%-59.6K2.5M-9.2K8.5177.371058942,0549,283
2023-03-17$4.42$7.5057.6%16.5%30.1%24.8%66.0%119.3%65.3%-47.9K2.9M-8.3K16.15119.271552,5042,1229,889
2023-03-20$4.46$5.0067.2%19.3%31.6%30.5%57.1%128.3%-3.3%-55.4K2.8M-8.4K0.4097.8943172,17711,864
2023-03-21$4.71$5.0061.8%17.7%40.1%27.3%61.8%92.4%10.4%-59.8K2.6M-9.5K121.0882.71253,0272,20911,873
2023-03-22$4.46$5.0082.8%23.7%42.6%39.8%82.7%85.2%-6.8%-35.7K2.2M-6.7K2.4383.927172,2309,848
2023-03-23$4.16$5.0052.4%15.0%45.8%21.7%55.5%1.3%15.0%-23.8K2.5M-4.8K84.2672.08272,2752,2329,842
2023-03-24$4.24$5.0061.6%17.7%47.8%27.1%62.4%4.6%18.3%-20.2K1.9M-4.0K13.8283.78334562,2128,114
2023-03-27$4.33$5.0044.0%12.6%49.7%16.7%48.4%-8.6%19.2%-22.6K1.7M-5.1K0.1173.843642,2198,165
2023-03-28$4.34$5.0037.5%10.7%50.1%12.8%40.1%16.6%22.2%-23.1K1.7M-5.2K0.3370.58312,2458,168
2023-03-29$4.50$5.0053.8%15.4%53.3%22.5%45.4%10.7%6.5%-24.2K1.6M-5.4K6.0077.3412722,2488,169
2023-03-30$4.54$5.0069.1%19.8%53.6%31.6%69.2%28.4%-6.8%-25.8K1.6M-5.7K34.3368.12155152,2568,239
2023-03-31$4.69$5.0054.2%15.5%56.0%21.1%92.7%20.5%-2.9%-27.2K1.4M-5.5K0.1170.723642,2577,740