BHE Options History — January 2021

In January 2021, BHE traded between $25.17 and $29.30. ATM implied volatility averaged 48.4%, placing in the 25.7% IV rank vs the trailing year. The 30-day expected move averaged 12.9%. IV traded above realized volatility by 10.9% (HV 20d: 37.5%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 4 of 19 days. Put/call ratio averaged 0.18.

Notable Days

2021-01-20: Highest Volume — 110 contracts
2021-01-12: Largest IV spike — 88.9% change
2021-01-12: Highest IV Rank — 44.7%
2021-01-27: Largest Expected Move — 20.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$27.34	$25.17	$29.30	$26.85	$25.17
Max Pain	$25.00	$25.00	$25.00	$25.00	$25.00
ATM IV	48.4%	38.0%	71.9%	58.9%	61.7%
Expected Move	12.9%	9.1%	20.3%	12.2%	17.7%
HV 20d	37.5%	32.7%	41.8%	38.4%	33.2%
HV 60d	39.8%	38.9%	40.8%	39.1%	39.2%
IV Rank	25.7%	16.6%	44.7%	36.4%	36.2%
IV Percentile	40.4%	19.4%	78.6%	65.5%	67.9%
Term Structure	-2.2%	-11.7%	8.2%	5.4%	-3.2%
VWIV	48.3%	39.9%	65.8%	47.0%	54.3%
Skew 25d	5.5%	-8.8%	29.2%	11.0%	2.2%
Skew 10d	15.2%	-3.3%	48.9%	1.1%	-1.5%
Call IV 25d	44.7%	34.0%	68.4%	36.9%	63.4%
Put IV 25d	50.2%	35.7%	72.1%	47.9%	65.5%
Bid-Ask Spread %	103.03	79.84	123.36	105.40	114.01
Gamma HHI	0.65	0.47	0.83	0.47	0.77
Net GEX	9.3K	4.9K	12.2K	9.9K	9.2K
Net DEX	-242.4K	-358.0K	-130.4K	-219.9K	-153.1K
Net VEX	-712	-1.0K	-449	-527	-826
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.18	0.00	1.00	0.00	1.00
Total Volume	10.842	0	110	0	2
Total OI	228.105	139	271	208	271

Daily Data (19 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
2021-01-04	$26.85	$25.00	58.9%	12.2%	38.4%	36.4%	0.0%	11.0%	5.4%	9.9K	-219.9K	-527	0.00	105.40	N/A	N/A	0	0	180	28
2021-01-05	$27.71	$25.00	43.0%	12.2%	37.9%	23.7%	47.0%	2.9%	-4.0%	10.1K	-261.1K	-522	0.00	105.25	N/A	N/A	2	0	180	28
2021-01-06	$29.07	$25.00	42.7%	9.1%	41.0%	23.5%	0.0%	-1.4%	8.2%	9.1K	-317.8K	-575	0.00	114.11	N/A	N/A	4	0	182	28
2021-01-07	$29.30	$25.00	45.1%	11.8%	41.0%	22.4%	41.0%	9.8%	-5.3%	12.0K	-349.5K	-449	0.40	107.12	N/A	N/A	5	2	182	28
2021-01-08	$28.80	$25.00	38.6%	11.3%	41.3%	17.0%	39.9%	9.8%	-0.4%	8.8K	-314.2K	-550	0.00	112.51	N/A	N/A	2	0	182	28
2021-01-11	$28.84	$25.00	38.0%	9.7%	41.0%	16.6%	0.0%	7.9%	1.8%	9.2K	-314.5K	-499	0.00	109.47	N/A	N/A	35	0	182	28
2021-01-12	$28.35	$25.00	71.9%	12.8%	41.8%	44.7%	53.8%	7.2%	-0.8%	11.7K	-358.0K	-721	1.00	101.76	N/A	N/A	2	2	217	28
2021-01-13	$27.60	$25.00	40.3%	11.6%	37.9%	18.5%	0.0%	8.4%	-2.3%	11.1K	-297.9K	-675	0.00	82.88	N/A	N/A	3	0	217	30
2021-01-14	$28.10	$25.00	40.2%	11.5%	37.9%	18.3%	0.0%	5.5%	-2.3%	5.7K	-316.1K	-651	0.00	81.25	N/A	N/A	0	1	217	30
2021-01-15	$27.46	$25.00	41.3%	11.9%	38.8%	19.3%	44.2%	-8.8%	-11.7%	4.9K	-303.5K	-640	0.00	109.85	N/A	N/A	10	0	217	29
2021-01-19	$27.35	$25.00	38.9%	11.2%	38.8%	17.3%	65.8%	10.6%	-1.9%	5.4K	-146.7K	-655	0.00	123.36	N/A	N/A	0	1	129	10
2021-01-20	$27.25	$25.00	45.0%	12.9%	38.7%	22.3%	0.0%	5.3%	-0.5%	6.0K	-130.4K	-616	0.00	88.41	N/A	N/A	110	0	129	11
2021-01-21	$26.97	$25.00	46.9%	13.5%	33.8%	24.0%	0.0%	6.9%	-3.2%	12.2K	-205.3K	-995	0.00	84.14	N/A	N/A	0	0	239	11
2021-01-22	$27.01	$25.00	45.4%	13.0%	33.7%	22.7%	41.3%	3.1%	-3.8%	12.1K	-199.4K	-987	0.00	79.84	N/A	N/A	3	0	239	11
2021-01-25	$26.99	$25.00	43.2%	12.4%	32.7%	20.9%	47.7%	-8.6%	5.9%	11.4K	-217.4K	-1.0K	0.00	106.58	N/A	N/A	2	0	239	11
2021-01-26	$26.07	$25.00	60.1%	17.2%	35.0%	35.0%	54.3%	10.1%	-9.1%	9.7K	-182.3K	-916	0.00	100.68	N/A	N/A	20	0	240	11
2021-01-27	$25.17	$25.00	71.0%	20.3%	35.7%	44.0%	0.0%	-6.7%	-10.4%	8.4K	-166.7K	-892	0.00	108.83	N/A	N/A	0	0	260	11
2021-01-28	$25.44	$25.00	48.4%	13.9%	34.3%	25.2%	0.0%	29.2%	-4.4%	8.9K	-151.0K	-811	0.00	122.04	N/A	N/A	0	0	260	11
2021-01-29	$25.17	$25.00	61.7%	17.7%	33.2%	36.2%	0.0%	2.2%	-3.2%	9.2K	-153.1K	-826	1.00	114.01	N/A	N/A	1	1	260	11