BXDC Butterfly Strategy
BXDC (Blackstone Digital Infrastructure Trust Inc.), in the Real Estate sector, (REIT - Specialty industry), listed on NYSE.
Blackstone Digital Infrastructure Trust Inc. is dedicated to securing and maintaining vital digital infrastructure, particularly data center assets. The firm's investment strategy focuses on recently built, revenue-generating, and fully operational data facilities. These properties are leased to highly-rated, large-scale technology tenants under long-term agreements. Established in 2025 and based in New York, New York, the company was previously known as Keystone REIT Inc. before adopting its current name in March 2026.
BXDC (Blackstone Digital Infrastructure Trust Inc.) trades in the Real Estate sector, specifically REIT - Specialty, with a market capitalization of approximately $1.92B, a beta of 0.36 versus the broader market, a 52-week range of 18.48-22.9, average daily share volume of 1.3M, a public-listing history dating back to 2026. These structural characteristics shape how BXDC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.36 indicates BXDC has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a butterfly on BXDC?
A long call butterfly buys one lower-strike call, sells two ATM calls, and buys one higher-strike call, paying a small net debit for a defined-risk position that maxes out if the underlying pins the middle strike at expiration.
BXDC snapshot
As of September 29, 2026, spot at $17.63, ATM IV 182.30%, expected move 52.26%. The butterfly on BXDC below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 17-day expiry.
Why this butterfly structure on BXDC specifically: IV rank is unavailable in the current snapshot, so regime-based timing for BXDC is inferred from ATM IV at 182.30% alone, with a market-implied 1-standard-deviation move of approximately 52.26% (roughly $9.21 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated BXDC expiries trade a higher absolute premium for lower per-day decay. Position sizing on BXDC should anchor to the underlying notional of $17.63 per share and to the trader's directional view on BXDC stock.
BXDC butterfly setup
The BXDC butterfly below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With BXDC at $17.63 on that close, the first option leg uses a $16.75 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed BXDC chain at a 17-day expiry; the cross-strike IV skew is reflected directly in the per-leg values rather than approximated. Quantity sizing assumes one contract per option leg (or 100 BXDC shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $16.75 | N/A |
| Sell 2 | Call | $17.63 | N/A |
| Buy 1 | Call | $18.51 | N/A |
BXDC butterfly risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
Max profit equals the wing width minus net debit times 100 (reached when the underlying pins the middle strike); max loss equals the net debit times 100. Two breakevens at lower-wing plus debit and upper-wing minus debit.
BXDC butterfly payoff curve
Modeled P&L at expiration across a range of underlying prices for the butterfly on BXDC. Each row is one sampled price point from the computed payoff curve; the full curve uses 200 price points internally before being summarized into 10 rows here.
When traders use butterfly on BXDC
Butterflies on BXDC are pinning bets - traders use them when they expect BXDC to settle near a specific level at expiration (often the prior close, a round number, or the max-pain strike) and want defined-risk exposure to that outcome.
BXDC thesis for this butterfly
The market-implied 1-standard-deviation range for BXDC extends from approximately $8.42 on the downside to $26.84 on the upside. A BXDC long call butterfly is a pinning play: it pays maximum at the middle strike if BXDC settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. As a Real Estate name, BXDC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to BXDC-specific events.
BXDC butterfly positions are structurally neutral / pin (limited-risk, limited-reward); the modeled P&L assumes European-style exercise at expiration and ignores early assignment, transaction costs, dividends paid before expiry on the stock leg (when present), and the bid-ask spread on the listed chain. BXDC positions also carry Real Estate sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move BXDC alongside the broader basket even when BXDC-specific fundamentals are unchanged. Always rebuild the position from current BXDC chain quotes before placing a trade.
Frequently asked questions
- What is a butterfly on BXDC?
- A butterfly on BXDC is the butterfly strategy applied to BXDC (stock). The strategy is structurally neutral / pin (limited-risk, limited-reward): A long call butterfly buys one lower-strike call, sells two ATM calls, and buys one higher-strike call, paying a small net debit for a defined-risk position that maxes out if the underlying pins the middle strike at expiration. With BXDC stock at $17.63 on the most recent close, the strikes shown on this page are snapped to the nearest listed BXDC chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are BXDC butterfly max profit and max loss calculated?
- Max profit equals the wing width minus net debit times 100 (reached when the underlying pins the middle strike); max loss equals the net debit times 100. Two breakevens at lower-wing plus debit and upper-wing minus debit. For the BXDC butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 182.30%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a BXDC butterfly?
- The breakeven for the BXDC butterfly priced on this page is no defined breakeven on the modeled curve at expiration, derived from the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The BXDC market-implied 1-standard-deviation expected move in the same options snapshot is approximately 52.26%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a butterfly on BXDC?
- Butterflies on BXDC are pinning bets - traders use them when they expect BXDC to settle near a specific level at expiration (often the prior close, a round number, or the max-pain strike) and want defined-risk exposure to that outcome.
- How does current BXDC implied volatility affect this butterfly?
- Current BXDC ATM IV is 182.30%; IV rank context is unavailable in the current snapshot.