BHE Options History — April 2007

In April 2007, BHE traded between $20.58 and $22.33. ATM implied volatility averaged 27.5%. The 30-day expected move averaged 8.2%. IV traded above realized volatility by 12.2% (HV 20d: 15.3%). Max pain ranged from $20.00 to $22.50. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 1.51.

Notable Days

  • 2007-04-24: Highest Volume — 811 contracts
  • 2007-04-09: Largest IV spike — 35.8% change
  • 2007-04-10: Largest Expected Move — 9.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$21.35$20.58$22.33$20.58$21.18
Max Pain$22.00$20.00$22.50$20.00$22.50
ATM IV27.5%19.0%31.8%27.1%30.6%
Expected Move8.2%5.8%9.2%7.8%8.8%
HV 20d15.3%9.9%24.3%9.9%24.3%
HV 60d21.7%20.7%23.5%20.8%23.2%
Term Structure1.0%-7.8%14.9%4.8%-7.8%
VWIV29.4%20.5%32.0%30.2%24.7%
Skew 25d-0.1%-4.6%6.0%-2.3%-4.6%
Skew 10d1.1%-6.8%12.7%-3.0%-2.8%
Call IV 25d29.3%25.1%34.0%29.4%29.1%
Put IV 25d29.2%23.7%33.3%27.1%24.5%
Bid-Ask Spread %44.0612.4071.2112.4034.67
Gamma HHI0.490.410.680.420.48
Net GEX53.4K-716129.8K-71667.5K
Net DEX-1.4M-2.6M-560.3K-560.3K-1.1M
Net VEX-14.4K-16.9K-12.2K-13.4K-16.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.510.008.331.471.23
Total Volume129.908114729
Total OI4,525.353,7154,9574,4294,476

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-04-02$20.58$20.0027.1%7.8%9.9%0.0%30.2%-2.3%4.8%-716-560.3K-13.4K1.4712.40N/AN/A19282,7161,713
2007-04-03$20.99$20.0021.3%6.1%10.1%0.0%20.5%-3.3%12.3%7.4K-951.4K-13.4K0.1737.35N/AN/A65112,7291,741
2007-04-04$20.91$20.0024.2%6.9%10.1%0.0%0.0%-3.0%8.5%8.0K-927.4K-13.4K0.0025.53N/AN/A002,7161,741
2007-04-05$20.96$20.0020.2%5.8%10.0%0.0%0.0%-2.5%14.9%14.6K-1.0M-13.2K0.0051.38N/AN/A5702,7161,741
2007-04-09$20.92$22.5027.4%9.2%10.0%0.0%31.9%1.2%-1.3%13.1K-1.1M-13.1K1.5416.46N/AN/A13202,7701,740
2007-04-10$21.12$22.5019.0%9.2%10.4%0.0%31.4%2.3%-1.3%29.8K-1.4M-12.5K0.0039.71N/AN/A13402,7701,760
2007-04-11$20.86$22.5023.9%8.9%10.9%0.0%31.5%-1.4%-0.6%9.2K-1.0M-13.0K0.0059.21N/AN/A13902,8201,760
2007-04-12$20.96$22.5030.3%8.7%10.9%0.0%30.5%0.9%-0.1%26.0K-1.2M-12.2K0.9519.03N/AN/A1111052,8361,760
2007-04-13$21.53$22.5030.3%8.7%14.0%0.0%30.4%0.9%0.5%45.9K-1.6M-14.5K5.5051.29N/AN/A2112,9471,833
2007-04-16$21.90$22.5031.8%9.1%14.6%0.0%32.0%1.6%-1.8%82.3K-2.3M-14.0K0.9747.23N/AN/A35342,9461,833
2007-04-17$21.98$22.5031.1%8.9%14.6%0.0%0.0%1.3%-2.1%91.8K-2.4M-13.9K1.0052.26N/AN/A46462,9641,816
2007-04-18$21.94$22.5029.9%8.6%14.7%0.0%29.9%-1.7%-1.4%93.6K-2.3M-14.2K4.2963.01N/AN/A241033,0081,861
2007-04-19$22.03$22.5031.6%9.0%14.6%0.0%31.7%-0.9%-2.8%91.6K-2.3M-14.6K8.3358.86N/AN/A6503,0111,914
2007-04-20$22.33$22.5030.2%8.7%14.9%0.0%0.0%0.9%-3.0%129.8K-2.6M-14.8K1.0571.21N/AN/A77813,0111,946
2007-04-23$22.10$22.5031.5%9.0%15.8%0.0%31.5%6.0%-2.1%85.7K-1.9M-15.0K0.5166.51N/AN/A2391232,3901,325
2007-04-24$21.06$22.5027.3%7.8%24.3%0.0%28.7%-1.8%2.7%62.6K-836.6K-14.9K0.3354.47N/AN/A6121992,5571,420
2007-04-25$21.21$22.5031.4%9.0%24.3%0.0%0.0%4.1%-3.0%68.8K-1.1M-16.9K1.0057.50N/AN/A39392,8721,503
2007-04-26$21.19$22.5027.3%7.8%24.3%0.0%27.1%-0.6%2.5%67.1K-931.1K-16.8K0.2229.36N/AN/A3782,8751,542
2007-04-27$21.31$22.5024.2%6.9%24.3%0.0%24.7%1.2%0.1%74.6K-1.1M-16.8K0.1233.80N/AN/A5062,8781,550
2007-04-30$21.18$22.5030.6%8.8%24.3%0.0%0.0%-4.6%-7.8%67.5K-1.1M-16.9K1.2334.67N/AN/A13162,9221,554