BDN Options History — January 2024

In January 2024, BDN traded between $4.76 and $5.56. ATM implied volatility averaged 45.2%, placing in the 19.2% IV rank vs the trailing year. The 30-day expected move averaged 13.5%. IV traded above realized volatility by 6.0% (HV 20d: 39.2%). Max pain ranged from $5.00 to $5.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 1.03.

Notable Days

2024-01-02: Highest Volume — 1,176 contracts
2024-01-10: Largest IV spike — 50.8% change
2024-01-24: Highest IV Rank — 25.0%
2024-01-24: Largest Expected Move — 15.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$5.24	$4.76	$5.56	$5.50	$4.76
Max Pain	$5.00	$5.00	$5.00	$5.00	$5.00
ATM IV	45.2%	30.9%	52.4%	43.0%	47.0%
Expected Move	13.5%	10.8%	15.0%	12.3%	13.5%
HV 20d	39.2%	33.5%	45.2%	40.6%	40.9%
HV 60d	54.0%	52.7%	54.9%	53.7%	52.7%
IV Rank	19.2%	7.8%	25.0%	17.5%	20.7%
IV Percentile	50.4%	9.9%	68.3%	45.2%	56.3%
Term Structure	1.0%	-9.9%	19.7%	4.6%	-4.8%
VWIV	47.3%	39.6%	52.3%	39.6%	47.0%
Bid-Ask Spread %	42.06	20.36	85.60	38.64	55.08
Gamma HHI	0.52	0.50	0.61	0.50	0.56
Net GEX	20.5K	13.0K	28.1K	20.3K	15.6K
Net DEX	-935.5K	-1.9M	-217.1K	-1.9M	-217.1K
Net VEX	-5.4K	-6.5K	-3.9K	-5.3K	-3.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.03	0.00	3.92	0.28	0.57
Total Volume	263.714	12	1,176	1,176	612
Total OI	9,464.524	8,562	10,768	10,768	8,571

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
2024-01-02	$5.50	$5.00	43.0%	12.3%	40.6%	17.5%	39.6%	0.0%	4.6%	20.3K	-1.9M	-5.3K	0.28	38.64	922	254	6,748	4,020
2024-01-03	$5.25	$5.00	37.8%	10.8%	44.9%	13.3%	43.5%	0.0%	19.7%	17.6K	-913.6K	-5.9K	1.30	26.83	63	82	5,731	3,946
2024-01-04	$5.33	$5.00	51.1%	14.9%	44.6%	23.9%	51.9%	0.0%	-1.5%	18.8K	-1.0M	-6.1K	0.16	20.36	332	54	5,794	3,917
2024-01-05	$5.50	$5.00	34.0%	14.5%	45.2%	10.2%	50.6%	0.0%	-0.0%	23.4K	-1.4M	-6.5K	0.99	53.04	270	266	6,084	3,882
2024-01-08	$5.56	$5.00	43.5%	14.4%	43.2%	17.8%	50.4%	0.0%	2.0%	24.8K	-1.4M	-6.4K	0.00	22.72	229	1	6,073	3,723
2024-01-09	$5.56	$5.00	30.9%	14.2%	43.1%	7.8%	49.4%	0.0%	4.8%	26.1K	-1.4M	-6.3K	0.62	50.34	29	18	6,232	3,723
2024-01-10	$5.55	$5.00	46.7%	13.4%	42.4%	20.4%	47.1%	0.0%	5.5%	25.5K	-1.4M	-6.3K	0.24	63.00	63	15	6,235	3,714
2024-01-11	$5.50	$5.00	47.4%	13.6%	42.3%	20.9%	48.0%	0.0%	-2.4%	28.1K	-1.3M	-5.6K	2.22	85.60	18	40	6,195	3,712
2024-01-12	$5.55	$5.00	47.4%	13.6%	33.5%	20.9%	0.0%	0.0%	-0.8%	26.6K	-1.4M	-6.0K	2.00	59.00	12	24	6,203	3,685
2024-01-16	$5.29	$5.00	39.5%	11.3%	33.6%	14.6%	39.9%	0.0%	12.6%	21.7K	-1.1M	-5.2K	0.25	42.66	332	82	6,203	3,671
2024-01-17	$5.04	$5.00	47.8%	13.7%	36.3%	21.3%	47.8%	0.0%	1.1%	16.6K	-749.6K	-5.1K	2.92	36.00	109	318	6,204	3,753
2024-01-18	$4.99	$5.00	46.3%	13.3%	35.6%	20.1%	46.3%	0.0%	13.7%	13.0K	-742.5K	-5.7K	0.70	34.86	114	80	6,226	3,986
2024-01-19	$5.08	$5.00	48.0%	13.7%	36.2%	21.4%	48.0%	0.0%	-3.7%	19.0K	-915.1K	-5.4K	0.17	55.58	120	21	6,329	4,060
2024-01-22	$5.20	$5.00	52.3%	15.0%	37.2%	24.9%	52.3%	0.0%	-7.1%	21.1K	-636.6K	-5.2K	1.47	22.98	81	119	5,656	2,941
2024-01-23	$5.08	$5.00	44.9%	12.9%	37.9%	19.0%	44.9%	0.0%	2.2%	19.5K	-588.2K	-5.1K	0.26	30.71	415	109	5,671	2,946
2024-01-24	$5.03	$5.00	52.4%	15.0%	37.9%	25.0%	52.3%	0.0%	-9.5%	18.2K	-490.8K	-4.9K	0.80	36.98	70	56	5,599	2,963
2024-01-25	$5.06	$5.00	45.2%	13.0%	36.3%	19.2%	42.9%	0.0%	3.4%	17.6K	-496.7K	-4.7K	0.00	41.60	12	0	5,579	3,018
2024-01-26	$5.11	$5.00	47.9%	13.7%	36.6%	21.4%	47.9%	0.0%	-9.5%	18.9K	-517.9K	-4.7K	3.92	31.36	25	98	5,589	3,018
2024-01-29	$5.17	$5.00	50.2%	14.4%	36.6%	23.2%	50.2%	0.0%	-9.9%	19.8K	-557.8K	-4.6K	2.00	44.18	6	12	5,594	2,993
2024-01-30	$4.99	$5.00	46.5%	13.3%	38.3%	20.2%	46.5%	0.0%	-0.2%	17.8K	-408.0K	-4.4K	0.72	31.78	32	23	5,596	2,972
2024-01-31	$4.76	$5.00	47.0%	13.5%	40.9%	20.7%	47.0%	0.0%	-4.8%	15.6K	-217.1K	-3.9K	0.57	55.08	390	222	5,599	2,972