BDN Options History — August 2023

In August 2023, BDN traded between $4.58 and $5.06. ATM implied volatility averaged 38.7%, placing in the 10.4% IV rank vs the trailing year. The 30-day expected move averaged 11.1%. IV traded below realized volatility by 5.7% (HV 20d: 44.4%). Max pain ranged from $2.50 to $5.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 19 of 23 days. Put/call ratio averaged 2.45.

Notable Days

  • 2023-08-23: Highest Volume — 2,128 contracts
  • 2023-08-25: Largest IV spike — 37.2% change
  • 2023-08-02: Highest IV Rank — 16.3%
  • 2023-08-03: Largest Expected Move — 14.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.82$4.58$5.06$4.83$5.03
Max Pain$3.59$2.50$5.00$5.00$2.50
ATM IV38.7%27.6%48.3%47.3%32.2%
Expected Move11.1%7.9%14.1%13.6%9.2%
HV 20d44.4%31.3%56.2%56.2%32.6%
HV 60d49.4%46.1%52.5%52.5%46.1%
IV Rank10.4%3.5%16.3%15.7%6.3%
IV Percentile25.2%4.0%45.6%44.8%11.5%
Term Structure5.0%-13.2%21.7%-2.8%13.6%
VWIV38.5%21.8%49.0%47.5%26.8%
Skew 25d24.8%-40.5%48.1%39.2%23.3%
Skew 10d37.5%-56.6%76.7%61.1%37.1%
Call IV 25d44.8%30.2%121.0%39.0%38.4%
Put IV 25d69.6%48.4%94.6%78.2%61.7%
Bid-Ask Spread %50.0618.9798.6321.8089.90
Gamma HHI0.990.961.000.990.99
Net GEX40.3K22.0K89.1K25.8K78.4K
Net DEX-838.7K-1.6M-128.2K-772.0K-1.5M
Net VEX-4.9K-6.1K-2.7K-5.0K-5.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.450.0119.000.020.09
Total Volume287.261152,1281,41135
Total OI9,499.9578,33711,2538,33711,253

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-08-01$4.83$5.0047.3%13.6%56.2%15.7%47.5%39.2%-2.8%25.8K-772.0K-5.0K0.0221.801,390214,7293,608
2023-08-02$4.87$5.0048.3%13.8%51.3%16.3%47.7%38.9%1.4%32.2K-794.6K-5.1K19.0046.682384,9533,622
2023-08-03$4.86$5.0047.6%14.1%50.7%15.8%49.0%38.8%-1.3%29.9K-793.0K-5.1K0.7698.6334264,9553,652
2023-08-04$4.96$5.0044.6%12.7%48.7%14.0%44.0%35.0%2.4%22.2K-335.5K-3.1K0.7776.911371054,9343,673
2023-08-07$5.06$5.0042.5%12.5%48.9%12.7%0.0%47.0%-0.9%45.0K-1.0M-5.3K0.2763.942265,1483,773
2023-08-08$4.99$5.0045.4%12.9%49.0%14.5%44.9%40.7%2.2%40.2K-983.8K-5.2K3.8630.1222855,1643,772
2023-08-09$4.80$5.0044.6%12.8%51.0%14.0%0.0%48.1%5.0%36.0K-711.5K-4.9K0.0427.0215365,1733,798
2023-08-10$4.80$5.0039.0%11.2%51.0%10.5%39.0%41.3%4.8%35.5K-710.1K-4.9K6.1666.40311915,1243,798
2023-08-11$4.89$5.0036.2%10.4%51.3%8.8%36.2%41.9%8.8%39.2K-803.2K-5.0K0.4894.2829145,1453,804
2023-08-14$4.81$5.0043.4%12.4%51.5%13.2%45.0%-40.5%4.7%30.8K-128.2K-2.7K0.4458.837023085,1533,806
2023-08-15$4.70$2.5039.5%11.3%51.8%10.9%42.0%30.5%-13.2%36.4K-712.5K-4.6K0.0441.2618885,8513,623
2023-08-16$4.71$2.5039.0%11.2%48.1%10.5%0.0%16.9%11.3%36.7K-783.0K-4.8K2.0034.896126,0033,630
2023-08-17$4.66$2.5040.4%11.6%46.0%11.4%41.1%10.8%9.6%22.0K-708.5K-4.6K0.3636.8428106,0043,611
2023-08-18$4.63$2.5035.2%10.1%45.6%8.2%0.0%10.4%6.0%22.4K-614.7K-4.4K0.6718.97965,9903,611
2023-08-21$4.62$2.5041.5%11.9%45.6%12.1%42.0%11.8%0.6%23.6K-568.5K-4.3K0.0532.976635,1943,572
2023-08-22$4.58$2.5028.5%8.2%44.7%4.0%25.7%22.3%17.6%24.1K-499.9K-4.0K0.7823.1732255,2053,575
2023-08-23$4.75$2.5036.4%10.4%34.1%8.9%36.6%15.1%3.1%29.1K-658.0K-4.4K0.0148.762,115135,2213,576
2023-08-24$4.75$2.5027.6%7.9%33.5%3.5%21.8%30.3%21.7%53.1K-973.9K-5.7K1.5526.2411177,1573,573
2023-08-25$4.69$2.5037.9%10.9%31.3%9.8%44.2%18.8%2.1%44.0K-984.1K-5.6K17.8841.91173047,1643,579
2023-08-28$4.83$2.5028.0%8.0%33.0%3.7%31.1%16.4%10.4%53.7K-1.1M-5.8K0.1038.07146147,1723,828
2023-08-29$5.04$2.5031.6%9.1%32.7%6.0%31.7%22.3%6.1%76.7K-1.6M-6.1K0.2558.25120307,2893,832
2023-08-30$5.03$2.5034.4%9.9%32.6%7.7%34.6%11.6%2.1%89.1K-1.5M-5.9K0.8975.5437337,3373,865
2023-08-31$5.03$2.5032.2%9.2%32.6%6.3%26.8%23.3%13.6%78.4K-1.5M-5.9K0.0989.903237,3573,896