BDN Options History — April 2025

In April 2025, BDN traded between $3.46 and $4.49. ATM implied volatility averaged 45.1%, placing in the 36.0% IV rank vs the trailing year. The 30-day expected move averaged 13.2%. IV traded below realized volatility by 9.2% (HV 20d: 54.3%). Max pain ranged from $4.00 to $5.00. Net GEX was positive for 2 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 4.59.

Notable Days

  • 2025-04-28: Highest Volume — 1,572 contracts
  • 2025-04-10: Largest IV spike — 103.8% change
  • 2025-04-10: Highest IV Rank — 100.0%
  • 2025-04-04: Largest Expected Move — 28.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.90$3.46$4.49$4.45$3.95
Max Pain$4.33$4.00$5.00$5.00$4.00
ATM IV45.1%31.7%89.5%31.7%43.3%
Expected Move13.2%7.5%28.1%7.5%12.4%
HV 20d54.3%23.0%64.0%23.0%63.4%
HV 60d41.3%32.5%44.2%32.7%43.0%
IV Rank36.0%16.9%100.0%16.9%32.4%
IV Percentile77.1%38.9%100.0%38.9%79.4%
Term Structure-8.8%-68.3%13.0%-16.8%3.7%
VWIV44.5%25.4%60.9%25.4%44.6%
Skew 25d11.6%-47.3%81.9%-47.3%22.4%
Skew 10d29.4%-68.0%149.7%-8.7%31.5%
Call IV 25d51.5%24.8%131.8%92.8%43.8%
Put IV 25d63.2%32.0%126.2%45.5%66.2%
Bid-Ask Spread %98.1571.92143.78108.00105.93
Gamma HHI0.570.420.710.690.51
Net GEX-4.2K-12.2K2.9K-10.6K1.5K
Net DEX1.1M889.3K1.4M1.3M1.1M
Net VEX-2.2K-3.1K-1.1K-2.9K-2.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio4.590.0521.001.380.71
Total Volume205.286161,5723116
Total OI7,238.4295,5158,2958,2817,628

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-04-01$4.45$5.0031.7%7.5%23.0%16.9%25.4%-47.3%-16.8%-10.6K1.3M-2.9K1.38108.0013184,1344,147
2025-04-02$4.49$5.0040.1%8.1%23.4%29.2%0.0%7.2%13.0%-12.2K1.3M-3.1K0.8696.5722194,1474,148
2025-04-03$4.04$5.0039.7%9.1%43.0%28.5%0.0%3.3%4.1%-6.1K1.4M-2.1K20.75111.774833,9784,157
2025-04-04$4.08$5.0040.7%28.1%43.1%30.0%0.0%71.7%-68.3%-6.1K995.3K-2.6K0.23143.78106243,9813,309
2025-04-07$3.87$5.0053.8%10.4%46.1%49.1%55.6%8.3%-8.4%-4.5K889.3K-2.9K5.92125.9113774,0823,321
2025-04-08$3.64$5.0054.8%17.0%49.6%50.5%60.9%-3.0%-7.6%-3.5K1.0M-1.9K1.8084.21751354,0933,366
2025-04-09$3.75$5.0043.9%12.6%51.1%34.8%44.1%4.5%0.7%-4.2K1.0M-2.0K0.7084.2696674,1683,385
2025-04-10$3.46$4.0089.5%25.7%56.6%100.0%0.0%-44.8%-38.8%-6551.1M-1.1K6.12122.54251534,2613,408
2025-04-11$3.58$4.0048.4%13.9%58.2%40.8%48.4%-11.0%-6.5%-3.5K962.0K-2.2K21.00102.121214,2633,504
2025-04-14$3.69$4.0047.4%13.6%59.1%39.3%47.4%-21.9%-16.4%-4.0K1.1M-1.7K5.6788.79402274,2633,509
2025-04-15$3.77$4.0044.1%12.6%60.2%34.6%0.0%-20.6%-4.4%-4.4K1.2M-1.5K5.7188.637404,2663,734
2025-04-16$3.71$4.0049.0%14.1%59.9%41.7%49.0%16.4%-18.3%-2.8K1.2M-1.6K0.2598.97114294,2643,673
2025-04-17$3.80$4.0041.4%11.9%61.0%30.7%0.0%40.8%11.5%-4.1K1.1M-2.3K13.1194.0191184,3733,686
2025-04-21$3.75$4.0044.0%12.6%60.8%34.4%44.2%81.9%-16.3%-3.9K1.0M-1.5K0.2475.64143342,2253,290
2025-04-22$3.90$4.0051.1%14.7%63.1%44.7%51.1%75.7%-14.0%-3.6K1.0M-2.0K1.6771.921432392,3133,310
2025-04-23$3.95$4.0040.6%11.6%63.5%29.5%40.5%16.5%-15.9%-3.6K962.3K-2.4K2.9083.741153342,3823,342
2025-04-24$3.98$4.0035.1%10.1%63.5%21.6%35.1%-2.1%0.2%-5.1K1.1M-2.5K0.2988.3851152,4433,608
2025-04-25$4.04$4.0035.6%10.2%64.0%22.3%35.8%-1.5%3.0%-4.0K1.2M-2.0K2.3390.5618422,4883,623
2025-04-28$4.03$4.0036.3%10.4%63.6%22.1%40.2%15.9%4.0%-5.5K1.1M-2.3K0.0596.301,502702,5053,654
2025-04-29$4.00$4.0036.6%10.5%63.3%22.5%44.6%31.9%6.9%2.9K1.1M-2.5K0.7199.0931223,8693,707
2025-04-30$3.95$4.0043.3%12.4%63.4%32.4%0.0%22.4%3.7%1.5K1.1M-2.6K0.00105.930163,8993,729