BDN Options History — January 2026

In January 2026, BDN traded between $2.75 and $3.13. ATM implied volatility averaged 53.3%, placing in the 25.2% IV rank vs the trailing year. The 30-day expected move averaged 13.2%. IV traded above realized volatility by 22.1% (HV 20d: 31.2%). Max pain ranged from $4.00 to $5.00. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 13 of 20 days. Put/call ratio averaged 5.69.

Notable Days

2026-01-26: Highest Volume — 1,648 contracts
2026-01-15: Largest IV spike — 79.4% change
2026-01-13: Highest IV Rank — 50.2%
2026-01-23: Largest Expected Move — 20.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$2.97	$2.75	$3.13	$2.94	$2.83
Max Pain	$4.15	$4.00	$5.00	$5.00	$4.00
ATM IV	53.3%	35.7%	86.7%	58.3%	48.5%
Expected Move	13.2%	6.9%	20.6%	16.7%	13.9%
HV 20d	31.2%	27.0%	38.2%	29.7%	37.8%
HV 60d	32.5%	31.4%	33.5%	32.9%	32.8%
IV Rank	25.2%	12.1%	50.2%	29.0%	21.6%
IV Percentile	74.9%	45.6%	91.7%	84.5%	72.2%
Term Structure	13.6%	-32.7%	50.6%	-9.3%	50.6%
VWIV	61.8%	30.6%	212.8%	212.8%	135.4%
Skew 25d	88.1%	-9.6%	211.8%	-0.3%	128.1%
Skew 10d	147.1%	-5.6%	355.9%	-5.6%	174.0%
Call IV 25d	44.5%	29.9%	63.4%	60.9%	51.4%
Put IV 25d	132.5%	47.9%	253.3%	60.6%	179.5%
Bid-Ask Spread %	105.41	71.21	127.80	117.08	95.89
Gamma HHI	0.63	0.33	0.86	0.64	0.33
Net GEX	-14.3K	-22.1K	-382	-16.6K	-382
Net DEX	2.1M	1.2M	3.2M	3.2M	1.2M
Net VEX	-7.7K	-9.9K	-6.5K	-7.1K	-9.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	5.69	0.00	41.00	7.43	12.34
Total Volume	235.3	5	1,648	59	387
Total OI	23,261.25	17,158	29,441	29,233	19,432

Daily Data (20 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
2026-01-02	$2.94	$5.00	58.3%	16.7%	29.7%	29.0%	212.8%	-0.3%	-9.3%	-16.6K	3.2M	-7.1K	7.43	117.08	7	52	14,265	14,968
2026-01-05	$2.94	$5.00	53.0%	12.1%	27.9%	25.0%	43.0%	205.2%	-7.6%	-17.6K	3.2M	-6.7K	2.14	94.81	29	62	14,268	15,018
2026-01-06	$3.01	$5.00	49.6%	13.5%	28.6%	22.5%	47.1%	187.0%	-3.8%	-19.6K	3.1M	-7.7K	0.04	98.57	167	6	14,293	15,070
2026-01-07	$2.94	$4.00	56.7%	12.9%	27.0%	27.7%	45.1%	84.3%	-12.2%	-17.2K	3.2M	-6.9K	0.73	106.47	15	11	14,370	15,071
2026-01-08	$2.92	$4.00	41.9%	9.4%	27.0%	16.7%	33.8%	13.1%	35.1%	-19.0K	2.3M	-6.6K	31.11	86.25	9	280	14,371	12,002
2026-01-09	$3.00	$4.00	60.5%	6.9%	28.1%	30.6%	48.5%	179.6%	7.4%	-19.8K	2.3M	-6.9K	41.00	110.97	2	82	14,374	12,075
2026-01-12	$2.95	$4.00	59.6%	10.2%	28.5%	30.0%	66.4%	63.4%	0.7%	-20.9K	2.4M	-6.5K	0.10	123.11	273	26	14,269	12,101
2026-01-13	$2.96	$4.00	86.7%	11.2%	28.6%	50.2%	52.7%	40.3%	29.8%	-16.3K	1.9M	-8.9K	1.14	120.82	22	25	14,440	12,125
2026-01-14	$3.08	$4.00	38.6%	11.1%	30.2%	14.3%	0.0%	48.2%	5.6%	-22.1K	2.2M	-7.7K	1.50	122.46	2	3	14,460	12,136
2026-01-15	$3.09	$4.00	69.3%	19.9%	29.8%	37.2%	35.7%	57.7%	35.8%	-20.5K	2.0M	-8.7K	0.39	118.89	82	32	14,462	12,133
2026-01-16	$3.12	$4.00	35.7%	10.2%	30.0%	12.1%	30.6%	54.8%	37.6%	-15.6K	2.1M	-7.8K	0.63	111.87	19	12	14,497	12,164
2026-01-20	$3.05	$4.00	45.0%	12.9%	31.1%	19.0%	40.6%	211.8%	34.4%	-14.9K	1.7M	-7.5K	8.78	100.62	46	404	6,955	10,263
2026-01-21	$3.13	$4.00	42.1%	12.1%	30.7%	16.9%	0.0%	60.2%	38.2%	-15.0K	1.6M	-8.0K	0.00	127.80	60	0	6,991	10,167
2026-01-22	$3.02	$4.00	52.9%	15.2%	33.3%	24.9%	33.5%	62.6%	-26.5%	-14.8K	1.7M	-7.0K	0.73	112.10	150	110	7,030	10,167
2026-01-23	$3.04	$4.00	72.0%	20.6%	30.8%	39.2%	0.0%	-9.6%	-32.7%	-13.7K	1.7M	-7.1K	0.00	104.77	43	0	7,106	10,112
2026-01-26	$2.92	$4.00	40.2%	11.5%	34.1%	15.5%	46.2%	42.0%	42.5%	-10.4K	1.5M	-8.1K	0.03	109.72	1,596	52	7,126	10,112
2026-01-27	$2.85	$4.00	48.9%	14.0%	35.2%	21.9%	49.3%	96.4%	-1.9%	-5.7K	1.6M	-7.7K	5.50	89.68	2	11	8,704	10,163
2026-01-28	$2.75	$4.00	40.4%	11.6%	36.9%	15.6%	45.0%	121.0%	15.3%	-4.0K	1.5M	-8.0K	0.03	71.21	170	5	8,721	10,173
2026-01-29	$2.83	$4.00	65.8%	18.9%	38.2%	34.6%	85.1%	115.7%	32.2%	-1.6K	1.2M	-9.9K	0.10	85.22	411	41	8,891	10,180
2026-01-30	$2.83	$4.00	48.5%	13.9%	37.8%	21.6%	135.4%	128.1%	50.6%	-382	1.2M	-9.9K	12.34	95.89	29	358	9,301	10,131