BDN Options History — March 2025

In March 2025, BDN traded between $4.42 and $4.80. ATM implied volatility averaged 33.7%, placing in the 19.8% IV rank vs the trailing year. The 30-day expected move averaged 10.4%. IV traded above realized volatility by 4.8% (HV 20d: 28.8%). Max pain ranged from $5.00 to $5.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 1.37.

Notable Days

2025-03-26: Highest Volume — 355 contracts
2025-03-11: Largest IV spike — 30.4% change
2025-03-11: Highest IV Rank — 44.9%
2025-03-14: Largest Expected Move — 14.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$4.59	$4.42	$4.80	$4.80	$4.47
Max Pain	$5.00	$5.00	$5.00	$5.00	$5.00
ATM IV	33.7%	24.4%	50.9%	40.8%	33.9%
Expected Move	10.4%	6.3%	14.1%	11.7%	10.8%
HV 20d	28.8%	23.0%	35.0%	35.0%	23.0%
HV 60d	35.3%	32.5%	37.5%	37.5%	32.7%
IV Rank	19.8%	6.3%	44.9%	30.1%	20.1%
IV Percentile	44.0%	6.3%	88.9%	76.2%	50.4%
Term Structure	1.7%	-10.7%	17.6%	-10.7%	-6.9%
VWIV	35.7%	20.5%	46.3%	28.0%	46.3%
Skew 25d	18.1%	-83.4%	130.6%	-13.9%	-76.8%
Skew 10d	66.8%	-20.2%	246.3%	-5.7%	-20.2%
Call IV 25d	47.0%	23.2%	115.0%	48.2%	115.0%
Put IV 25d	65.0%	25.4%	161.4%	34.3%	38.1%
Bid-Ask Spread %	93.18	67.69	132.15	80.68	96.13
Gamma HHI	0.69	0.56	0.79	0.58	0.71
Net GEX	-14.0K	-20.5K	-9.5K	-11.9K	-11.6K
Net DEX	1.2M	874.9K	1.5M	874.9K	1.3M
Net VEX	-4.2K	-5.6K	-3.1K	-5.6K	-3.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.37	0.00	10.83	0.88	0.17
Total Volume	82.571	4	355	135	48
Total OI	8,580.476	8,151	8,979	8,400	8,176

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
2025-03-03	$4.80	$5.00	40.8%	11.7%	35.0%	30.1%	28.0%	-13.9%	-10.7%	-11.9K	874.9K	-5.6K	0.88	80.68	72	63	4,168	4,232
2025-03-04	$4.76	$5.00	39.2%	11.2%	34.4%	27.9%	39.7%	5.9%	2.4%	-12.2K	930.2K	-5.5K	2.45	67.69	60	147	4,201	4,279
2025-03-05	$4.74	$5.00	31.4%	9.0%	33.9%	16.6%	31.6%	-1.6%	0.7%	-15.9K	1.1M	-5.3K	1.33	68.86	6	8	4,153	4,403
2025-03-06	$4.63	$5.00	40.6%	11.6%	27.4%	29.9%	43.9%	1.9%	0.4%	-14.4K	1.2M	-4.9K	1.33	69.05	15	20	4,155	4,410
2025-03-07	$4.67	$5.00	32.0%	9.2%	27.2%	17.3%	34.1%	-4.9%	-0.6%	-15.3K	1.1M	-5.0K	0.03	91.53	35	1	4,166	4,419
2025-03-10	$4.63	$5.00	39.0%	11.2%	27.3%	27.6%	0.0%	6.9%	17.6%	-13.5K	1.2M	-4.9K	0.06	96.79	33	2	4,171	4,420
2025-03-11	$4.54	$5.00	50.9%	12.1%	27.8%	44.9%	41.6%	3.5%	-5.6%	-12.0K	1.2M	-4.7K	0.25	87.09	40	10	4,187	4,422
2025-03-12	$4.59	$5.00	46.8%	8.7%	26.9%	38.9%	0.0%	-11.3%	-3.2%	-12.6K	1.1M	-4.7K	0.00	95.54	10	0	4,227	4,345
2025-03-13	$4.46	$5.00	41.7%	13.1%	27.4%	31.5%	43.7%	21.8%	13.0%	-11.8K	1.2M	-4.3K	0.38	86.12	131	50	4,227	4,355
2025-03-14	$4.53	$5.00	33.9%	14.1%	28.1%	20.1%	0.0%	20.1%	12.3%	-10.7K	1.2M	-4.1K	3.64	87.82	14	51	4,473	4,378
2025-03-17	$4.62	$5.00	27.9%	11.8%	29.3%	11.5%	42.0%	-61.3%	15.5%	-16.4K	1.2M	-4.2K	0.06	89.91	18	1	4,478	4,428
2025-03-18	$4.59	$5.00	24.4%	12.0%	29.3%	6.3%	30.3%	-1.0%	12.6%	-11.6K	1.1M	-4.6K	0.02	93.65	142	3	4,490	4,429
2025-03-19	$4.62	$5.00	25.9%	11.0%	28.4%	8.4%	0.0%	-83.4%	10.5%	-18.3K	1.3M	-3.9K	0.11	93.60	9	1	4,548	4,431
2025-03-20	$4.64	$0.00	32.8%	13.9%	28.6%	18.5%	0.0%	-18.6%	-0.3%	-20.5K	1.2M	-4.2K	0.00	132.15	201	0	4,549	4,425
2025-03-21	$4.53	$0.00	26.9%	8.6%	29.2%	9.9%	0.0%	7.2%	5.9%	-14.8K	1.4M	-3.5K	3.00	111.41	1	3	4,478	4,420
2025-03-24	$4.54	$5.00	25.0%	9.2%	29.0%	7.2%	20.5%	74.5%	-3.9%	-16.4K	1.5M	-3.1K	0.38	99.22	55	21	3,979	4,398
2025-03-25	$4.51	$5.00	28.1%	6.3%	28.9%	11.7%	0.0%	123.1%	-3.7%	-15.4K	1.4M	-3.3K	1.54	104.00	13	20	4,019	4,404
2025-03-26	$4.54	$5.00	26.0%	8.4%	28.7%	8.7%	36.7%	126.5%	-3.9%	-15.9K	1.4M	-3.2K	10.83	103.33	30	325	4,021	4,414
2025-03-27	$4.53	$5.00	30.3%	7.3%	28.0%	14.8%	0.0%	130.1%	-9.5%	-13.2K	1.2M	-3.4K	0.00	98.88	10	0	4,050	4,101
2025-03-28	$4.42	$5.00	29.3%	7.5%	27.4%	13.4%	25.3%	130.6%	-6.3%	-9.5K	1.3M	-3.1K	2.25	103.32	20	45	4,060	4,101
2025-03-31	$4.47	$5.00	33.9%	10.8%	23.0%	20.1%	46.3%	-76.8%	-6.9%	-11.6K	1.3M	-3.1K	0.17	96.13	41	7	4,040	4,136