BDN Options History — May 2025

In May 2025, BDN traded between $4.06 and $4.36. ATM implied volatility averaged 38.0%, placing in the 23.8% IV rank vs the trailing year. The 30-day expected move averaged 9.4%. IV traded above realized volatility by 5.0% (HV 20d: 33.0%). Max pain ranged from $4.00 to $4.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 3.74.

Notable Days

  • 2025-05-05: Highest Volume — 1,617 contracts
  • 2025-05-14: Largest IV drop — 57.2% change
  • 2025-05-13: Highest IV Rank — 65.4%
  • 2025-05-27: Largest Expected Move — 11.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.20$4.06$4.36$4.09$4.20
Max Pain$4.00$4.00$4.00$4.00$4.00
ATM IV38.0%25.9%66.2%37.7%36.4%
Expected Move9.4%7.4%11.0%10.8%10.4%
HV 20d33.0%22.7%64.8%64.8%22.7%
HV 60d42.2%41.4%43.7%43.7%41.4%
IV Rank23.8%5.4%65.4%24.2%21.0%
IV Percentile52.2%8.3%96.8%65.5%57.9%
Term Structure3.9%-9.7%18.7%9.8%-8.6%
VWIV35.6%28.5%45.8%42.1%38.7%
Skew 25d9.3%-12.3%29.5%25.7%6.1%
Skew 10d36.7%-15.2%73.9%47.4%6.2%
Call IV 25d29.5%22.7%41.1%38.1%33.2%
Put IV 25d38.8%25.9%63.8%63.8%39.3%
Bid-Ask Spread %90.4073.11110.84110.8492.61
Gamma HHI0.690.450.880.450.75
Net GEX16.2K-82830.6K-82828.4K
Net DEX694.4K415.5K1.1M1.0M551.8K
Net VEX-6.5K-9.8K-2.6K-3.4K-9.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.740.0025.001.077.20
Total Volume374.90521,617122123
Total OI11,208.3817,61214,6977,64414,697

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-05-01$4.09$4.0037.7%10.8%64.8%24.2%42.1%25.7%9.8%-8281.0M-3.4K1.07110.8459633,8993,745
2025-05-02$4.06$4.0031.5%9.0%52.8%15.0%0.0%-12.3%5.1%2.8K1.1M-2.6K16.5096.922333,9053,707
2025-05-05$4.08$4.0039.7%9.8%52.7%27.1%34.2%10.4%4.9%7181.1M-3.2K0.0373.771,567503,9053,730
2025-05-06$4.17$4.0029.6%9.6%49.3%12.4%42.4%19.9%-2.9%5.7K819.2K-5.1K0.2694.36201525,4123,780
2025-05-07$4.21$4.0045.6%10.0%43.0%35.7%34.8%17.3%-7.8%10.3K917.0K-4.5K0.09102.311115,5683,831
2025-05-08$4.14$4.0044.6%10.3%42.9%34.3%0.0%29.5%10.2%5.7K773.2K-5.3K0.0081.6761805,5773,832
2025-05-09$4.21$4.0057.2%8.6%28.8%52.0%28.5%10.3%10.9%8.2K722.9K-5.7K0.0795.21274185,8313,832
2025-05-12$4.25$4.0058.1%8.4%27.3%53.3%31.5%3.1%10.8%10.5K645.5K-6.1K0.21100.685121106,0923,850
2025-05-13$4.26$4.0066.2%9.0%26.1%65.4%32.5%4.9%-6.4%19.1K724.1K-6.0K0.1094.441017,0893,959
2025-05-14$4.19$4.0028.3%8.1%26.9%9.1%33.7%3.2%4.2%13.2K726.2K-6.0K13.2086.465667,0893,930
2025-05-15$4.31$4.0025.9%7.4%26.8%5.4%0.0%5.8%18.7%17.0K480.2K-7.4K0.0087.8336207,0893,996
2025-05-16$4.33$4.0035.1%10.1%26.1%19.1%0.0%8.5%1.5%21.1K556.8K-7.0K25.0096.552507,4393,996
2025-05-19$4.36$4.0029.1%8.3%25.0%10.2%30.5%7.2%16.7%20.4K415.5K-7.7K0.0388.653117,3603,811
2025-05-20$4.26$4.0031.9%9.1%24.3%14.3%0.0%-0.6%10.7%19.3K468.4K-7.3K0.0078.301,08127,3783,812
2025-05-21$4.20$4.0035.0%10.0%25.0%19.0%45.8%22.3%2.5%22.7K440.0K-7.8K0.1089.321,029988,3693,813
2025-05-22$4.14$4.0035.6%10.2%25.7%19.8%35.6%10.0%-9.7%29.3K664.0K-7.2K5.7279.36693959,3803,911
2025-05-23$4.12$4.0029.8%8.5%25.3%11.2%32.0%2.0%14.0%21.6K779.0K-7.7K0.0773.11833579,4354,314
2025-05-27$4.21$4.0038.3%11.0%26.3%23.9%38.7%8.4%1.1%27.0K440.1K-9.8K5.8376.89127010,2544,371
2025-05-28$4.19$4.0036.5%10.5%26.2%21.2%0.0%17.9%0.4%30.6K631.3K-8.8K1.0095.161110,2574,436
2025-05-29$4.20$4.0025.9%7.4%25.6%5.5%0.0%-5.1%-4.0%28.1K617.5K-8.9K2.00104.051210,2584,437
2025-05-30$4.20$4.0036.4%10.4%22.7%21.0%0.0%6.1%-8.6%28.4K551.8K-9.1K7.2092.611510810,2594,438