BHE Options History — March 2021

In March 2021, BHE traded between $28.93 and $31.94. ATM implied volatility averaged 40.0%, placing in the 18.2% IV rank vs the trailing year. The 30-day expected move averaged 11.5%. IV traded above realized volatility by 8.4% (HV 20d: 31.7%). Max pain ranged from $20.00 to $30.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 13 of 23 days. Put/call ratio averaged 1.08.

Notable Days

  • 2021-03-19: Highest Volume — 121 contracts
  • 2021-03-16: Largest IV spike — 61.5% change
  • 2021-03-02: Highest IV Rank — 32.9%
  • 2021-03-02: Largest Expected Move — 16.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$30.41$28.93$31.94$29.65$31.20
Max Pain$23.48$20.00$30.00$25.00$30.00
ATM IV40.0%25.4%57.7%36.7%40.0%
Expected Move11.5%7.3%16.5%10.5%11.5%
HV 20d31.7%28.6%37.3%34.5%34.1%
HV 60d34.5%32.4%35.9%35.6%34.1%
IV Rank18.2%6.1%32.9%15.5%18.2%
IV Percentile20.6%0.8%61.9%9.1%19.4%
Term Structure-0.6%-18.8%18.0%9.6%-9.9%
VWIV38.6%20.1%57.7%36.5%44.0%
Skew 25d-0.5%-16.3%15.4%-5.4%-11.2%
Skew 10d-2.1%-21.6%18.6%-8.7%-12.1%
Call IV 25d40.1%25.0%61.2%45.7%47.1%
Put IV 25d39.6%24.9%56.9%40.3%36.0%
Bid-Ask Spread %110.6686.61121.03115.44118.03
Gamma HHI0.720.440.850.780.53
Net GEX17.4K7.3K27.2K22.8K12.3K
Net DEX-430.3K-664.4K-211.8K-420.0K-233.9K
Net VEX-930-1.2K-734-961-904
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.080.0015.000.000.00
Total Volume15.0870121641
Total OI276.174195318274218

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-03-01$29.65$25.0036.7%10.5%34.5%15.5%36.5%-5.4%9.6%22.8K-420.0K-9610.00115.44N/AN/A64025519
2021-03-02$29.55$25.0057.7%16.5%31.4%32.9%57.7%-12.1%-15.7%17.9K-419.7K-1.0K0.25116.94N/AN/A4126119
2021-03-03$29.79$25.0046.9%13.4%30.0%23.9%47.2%-2.6%-0.7%21.9K-416.4K-9821.00113.50N/AN/A1126218
2021-03-04$28.93$20.0038.0%10.9%31.8%16.5%0.0%7.2%-0.5%22.6K-373.0K-99815.00108.82N/AN/A11526819
2021-03-05$29.70$20.0044.8%11.7%31.9%22.2%41.0%3.9%1.3%18.7K-404.5K-1.2K0.00106.42N/AN/A2026734
2021-03-08$30.16$20.0046.0%11.8%31.9%23.2%39.6%-6.4%-3.6%24.3K-466.8K-1.1K0.71109.86N/AN/A7526833
2021-03-09$30.57$20.0043.8%14.9%29.9%21.4%37.5%3.0%-18.8%27.2K-490.6K-1.1K0.00109.47N/AN/A9027238
2021-03-10$31.00$20.0053.7%15.4%29.7%29.6%51.1%15.4%-15.7%22.5K-544.9K-1.1K0.00109.21N/AN/A9027838
2021-03-11$31.35$20.0041.3%11.8%28.6%19.2%41.9%4.4%-4.4%24.1K-592.8K-1.0K0.00106.65N/AN/A6027938
2021-03-12$31.66$20.0042.9%12.3%28.7%20.6%42.9%11.5%-4.0%23.4K-636.0K-9680.00107.03N/AN/A7027738
2021-03-15$31.94$20.0025.4%7.3%28.7%6.1%26.9%-6.3%1.7%21.4K-638.4K-8910.00115.24N/AN/A1027938
2021-03-16$31.48$20.0041.1%11.8%29.6%19.1%28.9%10.2%2.2%24.3K-636.4K-8580.14107.54N/AN/A7127938
2021-03-17$31.84$25.0044.8%12.8%29.5%22.1%0.0%1.7%0.3%19.4K-664.4K-8380.00111.87N/AN/A0027939
2021-03-18$31.20$25.0032.6%9.3%30.7%12.0%43.1%-4.3%18.0%24.2K-575.0K-8750.33113.09N/AN/A3127939
2021-03-19$30.95$25.0039.8%11.4%30.3%18.0%20.1%14.3%1.8%7.3K-645.0K-7970.00108.91N/AN/A121027839
2021-03-22$30.68$25.0031.9%9.1%30.6%11.4%25.7%7.2%15.3%8.8K-294.3K-7780.20109.81N/AN/A5117124
2021-03-23$28.93$25.0036.0%10.3%37.3%14.9%33.7%-9.3%0.9%8.3K-222.0K-7344.00113.81N/AN/A1417125
2021-03-24$29.20$25.0033.7%9.7%35.6%13.0%0.0%-6.9%2.2%7.8K-235.8K-7730.02116.96N/AN/A50117229
2021-03-25$29.40$25.0028.9%8.3%33.9%9.0%0.0%5.6%5.7%9.9K-240.2K-8390.00121.03N/AN/A16022230
2021-03-26$30.11$25.0033.2%9.5%34.6%12.5%0.0%-16.3%0.1%11.3K-274.0K-8940.00120.84N/AN/A0022230
2021-03-29$29.73$25.0041.7%12.0%32.1%19.6%0.0%-6.4%0.9%10.1K-261.6K-8890.0098.02N/AN/A2022230
2021-03-30$30.37$30.0039.7%11.4%32.9%18.0%0.0%-8.3%-0.6%10.5K-211.8K-9110.0086.61N/AN/A0018830
2021-03-31$31.20$30.0040.0%11.5%34.1%18.2%44.0%-11.2%-9.9%12.3K-233.9K-9040.00118.03N/AN/A1018830