BHE Options History — September 2019

In September 2019, BHE traded between $26.10 and $29.54. ATM implied volatility averaged 24.7%, placing in the 18.2% IV rank vs the trailing year. The 30-day expected move averaged 6.2%. IV traded below realized volatility by 2.6% (HV 20d: 27.3%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 8.00.

Notable Days

2019-09-26: Highest Volume — 82 contracts
2019-09-11: Largest IV drop — 39.6% change
2019-09-10: Highest IV Rank — 38.9%
2019-09-03: Largest Expected Move — 8.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$28.48	$26.10	$29.54	$26.10	$29.12
Max Pain	$25.00	$25.00	$25.00	$25.00	$25.00
ATM IV	24.7%	18.3%	37.0%	30.9%	22.3%
Expected Move	6.2%	5.2%	8.9%	8.9%	6.4%
HV 20d	27.3%	22.2%	31.9%	29.2%	22.2%
HV 60d	25.5%	24.4%	25.8%	24.6%	25.7%
IV Rank	18.2%	7.5%	38.9%	28.7%	14.1%
IV Percentile	24.1%	6.0%	71.8%	45.2%	14.7%
Term Structure	8.3%	-1.6%	57.7%	-1.6%	8.6%
VWIV	28.9%	22.2%	35.6%	35.6%	22.2%
Skew 25d	13.9%	-5.9%	47.6%	0.1%	-0.1%
Skew 10d	13.0%	-15.1%	63.4%	-2.3%	-8.9%
Call IV 25d	24.0%	17.8%	31.2%	31.2%	25.2%
Put IV 25d	38.0%	17.5%	77.2%	31.3%	25.1%
Bid-Ask Spread %	88.44	53.11	121.36	53.11	91.75
Gamma HHI	0.69	0.46	0.95	0.48	0.47
Net GEX	22.6K	1.9K	54.4K	1.9K	8.1K
Net DEX	-362.2K	-549.9K	-135.6K	-135.6K	-299.3K
Net VEX	-934	-1.4K	-632	-1.2K	-632
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	8.00	0.00	40.00	0.00	0.00
Total Volume	7.55	0	82	0	55
Total OI	450.9	281	513	512	350

Daily Data (20 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2019-09-03	$26.10	$25.00	30.9%	8.9%	29.2%	28.7%	0.0%	0.1%	-1.6%	1.9K	-135.6K	-1.2K	0.00	53.11	N/A	N/A	0	0	379	133
2019-09-04	$26.60	$25.00	26.7%	7.7%	29.7%	21.7%	0.0%	4.0%	7.3%	5.4K	-183.7K	-1.2K	0.00	57.27	N/A	N/A	0	0	379	133
2019-09-05	$27.60	$25.00	36.9%	6.2%	31.9%	38.7%	35.6%	16.5%	8.4%	19.2K	-334.9K	-1.4K	0.00	108.36	N/A	N/A	0	3	379	133
2019-09-06	$27.52	$25.00	36.5%	5.8%	30.9%	38.0%	0.0%	1.9%	3.5%	18.8K	-345.5K	-1.3K	0.00	114.52	N/A	N/A	0	0	379	134
2019-09-09	$28.07	$25.00	30.3%	5.2%	30.8%	27.6%	0.0%	12.1%	8.6%	26.5K	-361.0K	-1.1K	0.00	75.95	N/A	N/A	0	0	379	134
2019-09-10	$27.93	$25.00	37.0%	5.4%	30.8%	38.9%	0.0%	-4.8%	5.0%	23.2K	-384.4K	-1.2K	0.00	86.86	N/A	N/A	0	0	379	134
2019-09-11	$28.54	$25.00	22.4%	6.4%	31.4%	14.3%	0.0%	22.6%	4.3%	36.0K	-421.2K	-1.0K	0.00	103.24	N/A	N/A	4	0	379	134
2019-09-12	$28.81	$25.00	18.3%	5.2%	29.6%	7.5%	0.0%	22.7%	5.3%	39.6K	-472.8K	-1.0K	0.00	104.67	N/A	N/A	0	0	379	134
2019-09-13	$28.59	$25.00	21.0%	6.0%	29.6%	12.0%	0.0%	4.0%	4.6%	36.3K	-421.5K	-1.0K	0.00	97.35	N/A	N/A	2	0	379	134
2019-09-16	$28.84	$25.00	20.1%	5.8%	27.1%	10.5%	0.0%	1.6%	3.5%	42.9K	-440.3K	-928	0.00	97.19	N/A	N/A	0	0	379	134
2019-09-17	$29.23	$25.00	20.5%	5.9%	27.3%	11.2%	0.0%	25.0%	5.7%	54.4K	-501.2K	-886	0.00	83.88	N/A	N/A	0	0	379	134
2019-09-18	$29.18	$25.00	19.5%	5.6%	26.7%	9.6%	0.0%	41.9%	6.4%	40.6K	-549.9K	-831	0.00	113.10	N/A	N/A	0	0	379	134
2019-09-19	$28.98	$25.00	20.7%	5.9%	26.0%	11.5%	0.0%	4.9%	6.4%	50.0K	-425.5K	-768	0.00	114.05	N/A	N/A	0	0	379	134
2019-09-20	$28.49	$25.00	18.7%	5.4%	27.0%	8.2%	0.0%	47.6%	4.3%	9.0K	-309.2K	-688	0.00	121.36	N/A	N/A	4	0	379	134
2019-09-23	$28.96	$25.00	22.3%	6.4%	23.2%	14.2%	0.0%	30.6%	57.7%	8.2K	-318.2K	-719	0.00	79.93	N/A	N/A	0	1	174	107
2019-09-24	$29.06	$25.00	21.3%	6.1%	23.2%	12.5%	0.0%	28.7%	7.2%	8.5K	-326.0K	-680	0.00	75.35	N/A	N/A	0	0	174	108
2019-09-25	$29.54	$25.00	21.9%	6.3%	22.8%	13.6%	0.0%	28.6%	7.2%	8.7K	-345.0K	-653	0.00	58.56	N/A	N/A	0	0	174	108
2019-09-26	$29.28	$25.00	21.9%	6.3%	23.4%	13.5%	22.2%	-3.6%	8.7%	8.2K	-336.2K	-658	40.00	65.42	N/A	N/A	2	80	174	108
2019-09-27	$29.12	$25.00	24.5%	7.0%	22.8%	18.0%	0.0%	-5.9%	4.8%	7.2K	-332.8K	-694	0.00	66.85	N/A	N/A	0	0	174	188
2019-09-30	$29.12	$25.00	22.3%	6.4%	22.2%	14.1%	0.0%	-0.1%	8.6%	8.1K	-299.3K	-632	0.00	91.75	N/A	N/A	55	0	162	188