BHE Options History — November 2019

In November 2019, BHE traded between $32.49 and $34.78. ATM implied volatility averaged 22.2%, placing in the 16.8% IV rank vs the trailing year. The 30-day expected move averaged 6.1%. IV traded below realized volatility by 2.8% (HV 20d: 24.9%). Max pain ranged from $30.00 to $35.00. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 3.08.

Notable Days

2019-11-19: Highest Volume — 71 contracts
2019-11-07: Largest IV spike — 190.6% change
2019-11-07: Highest IV Rank — 64.6%
2019-11-22: Largest Expected Move — 11.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$33.82	$32.49	$34.78	$33.80	$34.45
Max Pain	$34.75	$30.00	$35.00	$30.00	$35.00
ATM IV	22.2%	13.7%	51.7%	16.2%	21.9%
Expected Move	6.1%	4.4%	11.6%	4.6%	6.3%
HV 20d	24.9%	23.4%	30.6%	24.2%	26.5%
HV 60d	23.3%	21.3%	25.0%	25.0%	23.4%
IV Rank	16.8%	3.1%	64.6%	7.1%	16.3%
IV Percentile	19.7%	0.4%	97.2%	4.4%	19.8%
Term Structure	0.1%	-25.1%	8.7%	8.5%	-0.3%
VWIV	36.7%	17.0%	97.9%	97.9%	18.6%
Skew 25d	2.1%	-5.1%	12.2%	5.4%	-2.3%
Skew 10d	0.5%	-8.5%	11.0%	-5.8%	-4.7%
Call IV 25d	21.5%	14.2%	27.1%	16.1%	24.3%
Put IV 25d	23.7%	17.9%	29.4%	21.6%	22.0%
Bid-Ask Spread %	92.00	60.16	108.59	108.59	91.56
Gamma HHI	0.71	0.32	0.98	0.85	0.73
Net GEX	10.2K	-3.1K	36.1K	24.5K	10.9K
Net DEX	-498.5K	-765.0K	-257.7K	-678.7K	-543.0K
Net VEX	-1.3K	-2.0K	-555	-588	-1.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.08	0.00	21.00	2.50	0.00
Total Volume	25	0	71	14	15
Total OI	510.3	431	635	463	517

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
2019-11-01	$33.80	$30.00	16.2%	4.6%	24.2%	7.1%	97.9%	5.4%	8.5%	24.5K	-678.7K	-588	2.50	108.59	N/A	N/A	4	10	308	155
2019-11-04	$34.11	$35.00	20.5%	6.0%	24.0%	14.0%	0.0%	4.9%	-0.4%	29.9K	-697.9K	-555	1.00	92.82	N/A	N/A	1	1	307	165
2019-11-05	$34.56	$35.00	22.1%	6.0%	23.6%	16.6%	0.0%	-3.7%	1.0%	36.1K	-765.0K	-600	21.00	100.38	N/A	N/A	3	63	308	166
2019-11-06	$34.02	$35.00	17.8%	5.9%	25.1%	9.7%	0.0%	4.8%	0.9%	21.8K	-554.9K	-935	1.33	92.92	N/A	N/A	3	4	311	229
2019-11-07	$34.08	$35.00	51.7%	7.1%	25.2%	64.6%	0.0%	6.2%	-1.5%	8.1K	-585.2K	-1.1K	0.00	104.93	N/A	N/A	0	32	308	230
2019-11-08	$33.89	$35.00	13.7%	6.1%	24.9%	3.1%	0.0%	5.6%	0.4%	8.7K	-488.7K	-899	0.00	94.18	N/A	N/A	0	6	308	258
2019-11-11	$33.81	$35.00	23.6%	6.0%	24.4%	19.1%	17.0%	-3.7%	0.9%	11.9K	-485.1K	-908	3.00	101.26	N/A	N/A	1	3	308	264
2019-11-12	$33.69	$35.00	21.8%	6.4%	24.1%	16.1%	0.0%	-4.1%	-2.1%	2.4K	-454.8K	-879	0.02	104.06	N/A	N/A	60	1	307	267
2019-11-13	$33.68	$35.00	19.1%	5.5%	24.1%	11.8%	0.0%	5.8%	1.8%	11.3K	-493.1K	-911	0.00	90.67	N/A	N/A	0	0	307	268
2019-11-14	$33.54	$35.00	21.7%	6.2%	23.9%	16.0%	21.5%	-4.2%	-0.8%	8.4K	-488.8K	-926	0.10	102.04	N/A	N/A	60	6	307	268
2019-11-15	$33.75	$35.00	22.7%	6.5%	23.4%	17.7%	0.0%	1.5%	0.0%	-3.1K	-528.4K	-1.3K	0.12	102.08	N/A	N/A	50	6	367	268
2019-11-18	$33.66	$35.00	15.9%	4.5%	23.4%	6.5%	0.0%	12.2%	8.7%	4.4K	-398.9K	-1.5K	0.00	77.92	N/A	N/A	0	1	251	180
2019-11-19	$33.45	$35.00	24.5%	7.0%	23.4%	20.6%	0.0%	0.5%	-8.3%	1.6K	-362.1K	-1.5K	6.10	74.68	N/A	N/A	10	61	251	181
2019-11-20	$32.88	$35.00	21.0%	6.0%	24.5%	14.8%	28.7%	1.7%	-0.1%	1.5K	-283.0K	-1.7K	0.00	63.08	N/A	N/A	0	10	261	201
2019-11-21	$32.55	$35.00	15.7%	4.5%	25.0%	6.3%	0.0%	12.1%	8.5%	1.8K	-268.8K	-1.6K	0.00	82.77	N/A	N/A	0	0	261	191
2019-11-22	$32.49	$35.00	40.4%	11.6%	23.4%	46.4%	0.0%	10.1%	-25.1%	1.6K	-257.7K	-1.7K	0.00	60.16	N/A	N/A	0	0	261	191
2019-11-25	$34.65	$35.00	18.4%	5.3%	30.6%	10.7%	18.6%	-3.5%	3.5%	963	-479.5K	-1.7K	0.02	99.46	N/A	N/A	60	1	261	191
2019-11-26	$34.58	$35.00	15.5%	4.4%	27.8%	5.9%	0.0%	-5.1%	4.5%	10.3K	-560.4K	-1.9K	1.75	99.19	N/A	N/A	8	14	315	192
2019-11-27	$34.78	$35.00	19.1%	5.5%	27.3%	11.8%	0.0%	-1.4%	2.5%	11.6K	-596.2K	-2.0K	0.00	97.16	N/A	N/A	6	0	321	196
2019-11-29	$34.45	$35.00	21.9%	6.3%	26.5%	16.3%	0.0%	-2.3%	-0.3%	10.9K	-543.0K	-1.9K	0.00	91.56	N/A	N/A	0	15	321	196