BDN Options History — December 2025

In December 2025, BDN traded between $2.87 and $3.35. ATM implied volatility averaged 71.1%, placing in the 40.4% IV rank vs the trailing year. The 30-day expected move averaged 16.9%. IV traded above realized volatility by 39.4% (HV 20d: 31.8%). Max pain ranged from $3.00 to $5.00. Net GEX was positive for 1 of 22 trading days. Term structure was in contango for 11 of 22 days. Put/call ratio averaged 25.34.

Notable Days

  • 2025-12-24: Highest Volume — 2,100 contracts
  • 2025-12-12: Largest IV spike — 71.9% change
  • 2025-12-03: Highest IV Rank — 100.0%
  • 2025-12-03: Largest Expected Move — 39.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.05$2.87$3.35$3.34$2.91
Max Pain$4.77$3.00$5.00$4.00$5.00
ATM IV71.1%32.5%153.5%95.5%32.7%
Expected Move16.9%9.3%39.5%27.4%9.4%
HV 20d31.8%27.6%34.9%33.7%29.3%
HV 60d32.5%31.7%33.4%32.9%32.7%
IV Rank40.4%9.7%100.0%65.6%9.8%
IV Percentile77.5%35.7%100.0%94.8%35.7%
Term Structure-3.0%-58.0%183.6%-30.5%15.4%
VWIV51.1%24.9%129.8%45.0%129.8%
Skew 25d62.5%-45.8%205.6%36.6%-4.3%
Skew 10d113.0%-163.5%338.8%66.2%-163.5%
Call IV 25d53.0%35.9%81.8%45.2%35.9%
Put IV 25d115.5%21.2%245.5%81.8%31.5%
Bid-Ask Spread %106.2488.34125.24121.78102.36
Gamma HHI0.620.380.920.550.78
Net GEX-8.4K-17.4K2.3K-7.3K-17.4K
Net DEX2.3M1.6M3.2M1.6M3.2M
Net VEX-5.2K-7.2K-2.6K-5.0K-6.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio25.340.03182.007.0025.36
Total Volume588.552,10024290
Total OI23,509.40918,48329,06918,66029,069

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-12-01$3.34$4.0095.5%27.4%33.7%65.6%0.0%36.6%-30.5%-7.3K1.6M-5.0K7.00121.7832111,4817,179
2025-12-02$3.35$3.00132.0%37.8%31.3%97.0%0.0%119.9%-28.6%-8.1K1.8M-4.0K0.08122.123002511,4846,999
2025-12-03$3.30$3.00137.9%39.5%31.7%100.0%0.0%107.3%-58.0%-6.4K1.9M-3.1K0.00112.1607211,4847,024
2025-12-04$3.19$5.00104.7%12.6%33.8%72.0%45.0%88.3%6.4%-5.4K1.8M-3.5K135.7588.3481,08611,4847,096
2025-12-05$3.12$5.00153.5%11.9%34.4%100.0%46.6%140.7%4.1%-6.8K2.0M-3.8K3.8889.8712347711,4858,133
2025-12-08$3.01$5.00116.3%13.5%33.7%72.3%55.6%68.8%3.8%-4.9K1.9M-4.8K29.7795.691338712,1278,496
2025-12-09$2.99$5.0063.3%11.4%33.3%32.7%51.0%198.1%-10.7%-5.8K2.3M-2.6K0.0596.841,1085412,1388,883
2025-12-10$3.04$5.0065.4%18.8%34.1%34.3%85.7%160.2%-44.8%2.3K2.1M-4.1K0.00114.8201,24613,2198,937
2025-12-11$3.01$5.0040.6%11.6%32.4%15.7%0.0%205.6%18.1%-5.6K2.3M-4.7K0.14103.204526213,2199,929
2025-12-12$3.01$5.0069.8%20.0%32.5%37.5%32.6%38.9%-48.5%-3.0K2.3M-4.4K182.00107.56591013,6709,981
2025-12-15$3.10$5.0044.5%12.8%34.9%18.7%44.1%165.4%9.9%-8.3K2.3M-6.2K2.1799.5610222113,67510,837
2025-12-16$3.06$5.0068.7%19.7%33.3%36.7%52.0%165.5%-51.9%-10.7K2.3M-6.3K4.82111.932210613,76710,845
2025-12-17$3.05$5.0070.0%20.1%31.6%37.7%0.0%-40.7%-53.9%-10.1K2.2M-6.3K0.03125.2440113,76810,947
2025-12-18$3.04$5.0073.7%21.1%31.1%40.4%0.0%-45.8%183.6%-4.6K2.2M-7.0K0.00116.54050013,80010,948
2025-12-19$2.96$5.0073.2%21.0%31.9%40.1%0.0%17.9%-38.5%-12.8K2.4M-6.0K0.67103.793213,80011,448
2025-12-22$3.00$5.0036.1%10.4%30.9%12.4%35.4%54.9%29.2%-9.5K2.6M-5.2K0.45105.2225411413,50811,381
2025-12-23$2.90$5.0035.4%10.1%30.3%11.8%24.9%-22.3%5.1%-9.6K2.5M-4.9K0.21107.4452611313,73211,483
2025-12-24$2.87$5.0035.1%10.1%29.2%11.7%56.1%-30.1%43.8%-7.7K2.5M-5.4K6.89103.972661,83414,04511,593
2025-12-26$2.88$5.0032.5%9.3%27.6%9.7%25.0%-27.4%-16.4%-12.3K2.8M-6.4K47.0998.771151814,20113,424
2025-12-29$2.92$5.0041.2%11.8%28.7%16.2%31.3%-22.6%-10.2%-13.5K2.8M-6.6K35.0299.80451,57614,21113,247
2025-12-30$2.96$5.0042.9%12.3%29.2%17.5%0.0%0.0%6.1%-17.4K3.1M-7.2K0.11110.2846514,21414,816
2025-12-31$2.91$5.0032.7%9.4%29.3%9.8%129.8%-4.3%15.4%-17.4K3.2M-6.4K25.36102.361127914,25814,811