BDN Options History — April 2023

In April 2023, BDN traded between $3.77 and $4.58. ATM implied volatility averaged 52.6%, placing in the 19.0% IV rank vs the trailing year. The 30-day expected move averaged 15.3%. IV traded below realized volatility by 3.2% (HV 20d: 55.8%). Max pain ranged from $5.00 to $5.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 2.47.

Notable Days

2023-04-28: Highest Volume — 1,053 contracts
2023-04-26: Largest IV spike — 82.0% change
2023-04-27: Highest IV Rank — 45.8%
2023-04-27: Largest Expected Move — 27.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$4.14	$3.77	$4.58	$4.58	$3.92
Max Pain	$5.00	$5.00	$5.00	$5.00	$5.00
ATM IV	52.6%	33.4%	96.1%	70.0%	61.7%
Expected Move	15.3%	9.6%	27.6%	20.1%	17.7%
HV 20d	55.8%	51.2%	59.4%	56.1%	52.0%
HV 60d	45.3%	42.7%	47.9%	43.4%	47.3%
IV Rank	19.0%	7.1%	45.8%	30.7%	24.5%
IV Percentile	50.9%	12.3%	94.4%	77.8%	70.2%
Term Structure	-2.4%	-15.2%	19.6%	-12.3%	-14.8%
VWIV	60.1%	29.6%	120.8%	71.1%	94.7%
Skew 25d	13.0%	-114.0%	52.9%	12.5%	-9.8%
Skew 10d	26.8%	-133.0%	79.5%	14.8%	3.2%
Call IV 25d	66.9%	34.1%	266.9%	72.0%	59.5%
Put IV 25d	79.9%	49.7%	152.9%	84.5%	49.7%
Bid-Ask Spread %	40.77	7.99	85.37	68.83	37.44
Gamma HHI	0.79	0.51	0.99	0.98	0.96
Net GEX	-15.7K	-25.8K	-5.3K	-25.8K	-6.3K
Net DEX	1.5M	1.1M	1.7M	1.5M	1.2M
Net VEX	-4.0K	-5.5K	-2.8K	-5.0K	-3.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.47	0.00	14.20	0.04	0.00
Total Volume	153.105	17	1,053	167	1,053
Total OI	10,024.105	8,918	10,493	10,033	10,119

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
2023-04-03	$4.58	$5.00	70.0%	20.1%	56.1%	30.7%	71.1%	12.5%	-12.3%	-25.8K	1.5M	-5.0K	0.04	68.83	161	6	2,293	7,740
2023-04-04	$4.29	$5.00	42.2%	12.1%	59.0%	12.5%	51.5%	52.9%	16.9%	-18.7K	1.7M	-3.8K	0.42	69.09	12	5	2,358	7,744
2023-04-05	$4.29	$5.00	48.4%	13.9%	59.2%	16.4%	120.8%	23.9%	19.3%	-21.5K	1.5M	-5.1K	0.70	64.00	10	7	2,368	7,669
2023-04-06	$4.30	$5.00	45.2%	16.9%	59.4%	14.4%	59.4%	33.8%	-5.7%	-19.8K	1.6M	-4.1K	13.00	68.35	4	52	2,409	7,670
2023-04-10	$4.29	$5.00	47.0%	15.5%	57.9%	15.5%	58.5%	32.1%	-1.3%	-16.9K	1.6M	-3.9K	3.29	58.66	14	46	2,411	7,623
2023-04-11	$4.33	$5.00	57.8%	15.6%	58.3%	22.1%	55.3%	29.9%	1.2%	-21.3K	1.4M	-5.5K	0.01	80.57	88	1	2,422	7,633
2023-04-12	$4.17	$5.00	53.3%	15.3%	58.4%	19.4%	60.4%	-114.0%	-7.9%	-18.1K	1.5M	-4.5K	0.09	85.37	44	4	2,510	7,633
2023-04-13	$4.13	$5.00	61.1%	17.5%	58.4%	24.2%	61.8%	4.6%	-6.1%	-17.6K	1.5M	-4.4K	0.09	50.61	70	6	2,500	7,632
2023-04-14	$4.03	$5.00	37.0%	10.6%	56.7%	9.3%	37.1%	26.3%	14.5%	-17.8K	1.6M	-3.6K	0.48	20.47	58	28	2,473	7,633
2023-04-17	$4.25	$5.00	53.5%	15.3%	56.3%	19.5%	56.7%	2.8%	-2.6%	-18.1K	1.5M	-4.0K	1.08	13.95	13	14	2,474	7,656
2023-04-18	$4.17	$5.00	54.5%	15.6%	56.5%	20.1%	63.6%	24.7%	-11.8%	-18.6K	1.6M	-4.2K	0.28	22.42	231	64	2,476	7,666
2023-04-19	$4.37	$5.00	41.8%	12.0%	55.5%	12.3%	29.6%	5.1%	19.6%	-17.4K	1.5M	-4.4K	0.03	13.35	270	9	2,632	7,694
2023-04-20	$4.13	$5.00	52.9%	15.2%	55.7%	19.1%	62.6%	16.2%	-15.2%	-12.8K	1.6M	-3.6K	1.72	12.32	60	103	2,785	7,700
2023-04-21	$3.98	$5.00	33.4%	9.6%	51.7%	7.1%	33.7%	22.6%	16.4%	-11.2K	1.7M	-2.9K	0.45	7.99	83	37	2,815	7,678
2023-04-24	$4.00	$5.00	36.9%	10.6%	51.2%	9.2%	37.8%	14.0%	-11.7%	-11.2K	1.4M	-2.8K	14.20	12.11	5	71	2,178	6,792
2023-04-25	$3.81	$5.00	37.6%	10.8%	52.8%	9.7%	34.7%	33.5%	-14.1%	-13.2K	1.1M	-4.6K	2.67	51.65	39	104	2,182	6,736
2023-04-26	$3.77	$5.00	68.5%	19.6%	52.7%	28.8%	92.1%	3.3%	-15.1%	-5.9K	1.2M	-3.6K	7.46	17.57	13	97	3,281	6,763
2023-04-27	$3.88	$5.00	96.1%	27.6%	52.0%	45.8%	0.0%	33.1%	-14.6%	-5.3K	1.3M	-3.1K	0.93	19.97	14	13	3,283	6,827
2023-04-28	$3.92	$5.00	61.7%	17.7%	52.0%	24.5%	94.7%	-9.8%	-14.8%	-6.3K	1.2M	-3.8K	0.00	37.44	1,051	2	3,286	6,833