BHE Options History — December 2021

In December 2021, BHE traded between $24.31 and $27.37. ATM implied volatility averaged 46.5%, placing in the 44.6% IV rank vs the trailing year. The 30-day expected move averaged 11.1%. IV traded above realized volatility by 11.6% (HV 20d: 34.9%). Max pain ranged from $22.50 to $25.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 11 of 22 days. Put/call ratio averaged 1.83.

Notable Days

2021-12-29: Highest Volume — 129 contracts
2021-12-13: Largest IV spike — 69.9% change
2021-12-14: Highest IV Rank — 78.6%
2021-12-03: Largest Expected Move — 19.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$25.68	$24.31	$27.37	$24.31	$27.24
Max Pain	$23.30	$22.50	$25.00	$22.50	$25.00
ATM IV	46.5%	27.1%	67.5%	59.6%	37.4%
Expected Move	11.1%	6.5%	19.1%	17.1%	10.7%
HV 20d	34.9%	26.9%	41.8%	34.6%	26.9%
HV 60d	33.3%	31.9%	34.2%	31.9%	33.9%
IV Rank	44.6%	13.1%	78.6%	65.8%	29.8%
IV Percentile	55.7%	4.4%	96.0%	92.1%	32.1%
Term Structure	-1.6%	-28.8%	27.7%	-28.8%	-1.7%
VWIV	41.4%	26.6%	87.0%	55.2%	32.7%
Skew 25d	6.2%	-15.8%	20.8%	-13.9%	9.2%
Skew 10d	13.3%	-8.2%	47.1%	13.1%	28.7%
Call IV 25d	35.9%	23.6%	72.4%	60.5%	28.4%
Put IV 25d	42.2%	30.9%	80.4%	46.6%	37.6%
Bid-Ask Spread %	110.39	90.58	133.00	119.60	118.09
Gamma HHI	0.37	0.24	0.52	0.30	0.49
Net GEX	3.6K	2.0K	8.3K	2.2K	8.3K
Net DEX	-57.6K	-127.9K	-17.9K	-33.2K	-127.4K
Net VEX	-313	-522	-208	-388	-522
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.83	0.66	3.67	0.66	0.74
Total Volume	81.773	64	129	103	129
Total OI	170.818	134	232	161	232

Daily Data (22 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
2021-12-01	$24.31	$22.50	59.6%	17.1%	34.6%	65.8%	55.2%	-13.9%	-28.8%	2.2K	-33.2K	-388	0.66	119.60	N/A	N/A	62	41	106	55
2021-12-02	$25.14	$22.50	58.6%	16.8%	34.3%	64.1%	64.9%	-15.8%	-7.2%	2.2K	-49.5K	-335	0.66	133.00	N/A	N/A	62	41	104	55
2021-12-03	$24.83	$22.50	66.7%	19.1%	34.1%	77.3%	87.0%	16.3%	-24.0%	2.1K	-38.5K	-317	1.11	124.58	N/A	N/A	38	42	104	55
2021-12-06	$25.55	$22.50	55.2%	8.7%	34.6%	58.7%	39.5%	6.3%	2.7%	3.3K	-54.5K	-297	1.11	111.33	N/A	N/A	38	42	106	57
2021-12-07	$26.05	$22.50	49.1%	11.5%	35.3%	48.7%	41.7%	1.4%	-11.0%	3.7K	-68.0K	-334	1.11	90.58	N/A	N/A	38	42	106	57
2021-12-08	$25.78	$22.50	40.6%	9.5%	35.5%	34.9%	39.6%	0.9%	-0.6%	3.4K	-60.6K	-303	1.08	99.41	N/A	N/A	38	41	106	57
2021-12-09	$25.60	$22.50	65.4%	7.8%	35.5%	75.2%	26.6%	7.1%	2.5%	4.4K	-47.5K	-237	1.78	104.19	N/A	N/A	23	41	106	56
2021-12-10	$25.03	$22.50	39.5%	10.2%	36.3%	33.2%	37.8%	11.0%	0.5%	3.1K	-44.2K	-299	1.78	94.54	N/A	N/A	23	41	108	56
2021-12-13	$25.11	$22.50	67.2%	7.4%	36.2%	78.1%	32.3%	10.7%	7.5%	3.7K	-44.6K	-254	1.87	103.81	N/A	N/A	23	43	108	56
2021-12-14	$24.88	$22.50	67.5%	6.5%	36.3%	78.6%	28.7%	8.5%	5.9%	3.0K	-32.7K	-208	1.78	114.25	N/A	N/A	23	41	108	58
2021-12-15	$24.91	$22.50	35.8%	10.3%	36.3%	27.2%	39.8%	4.2%	-0.8%	2.5K	-37.9K	-267	1.83	115.00	N/A	N/A	23	42	108	58
2021-12-16	$24.85	$22.50	29.7%	8.5%	36.3%	17.4%	38.5%	20.8%	14.0%	2.6K	-41.5K	-284	1.83	108.04	N/A	N/A	23	42	108	59
2021-12-17	$24.72	$22.50	27.1%	7.8%	36.3%	13.1%	34.0%	2.7%	7.2%	2.6K	-26.0K	-222	1.83	109.50	N/A	N/A	23	42	108	59
2021-12-20	$24.33	$22.50	39.8%	11.4%	36.4%	33.6%	40.2%	-2.1%	9.7%	2.1K	-17.9K	-246	2.89	104.73	N/A	N/A	19	55	103	31
2021-12-21	$25.50	$22.50	51.6%	14.8%	40.5%	52.8%	45.8%	17.8%	-1.9%	2.0K	-47.3K	-325	3.67	104.79	N/A	N/A	15	55	103	66
2021-12-22	$26.04	$25.00	31.4%	9.0%	41.2%	20.1%	32.8%	20.8%	27.7%	3.5K	-53.6K	-278	3.67	114.85	N/A	N/A	15	55	104	67
2021-12-23	$26.56	$25.00	38.6%	11.1%	41.8%	31.8%	36.4%	12.6%	0.5%	3.8K	-63.9K	-292	3.67	112.81	N/A	N/A	15	55	104	67
2021-12-27	$26.93	$25.00	37.6%	10.8%	31.3%	30.1%	36.2%	10.4%	1.0%	4.2K	-69.5K	-269	3.44	110.24	N/A	N/A	16	55	104	67
2021-12-28	$27.12	$25.00	43.9%	12.6%	30.0%	40.3%	43.0%	2.3%	-3.7%	4.2K	-83.0K	-334	2.29	111.98	N/A	N/A	24	55	105	67
2021-12-29	$27.37	$25.00	47.4%	13.6%	29.6%	46.1%	42.0%	10.9%	-22.7%	4.8K	-98.2K	-350	0.74	116.09	N/A	N/A	74	55	115	67
2021-12-30	$27.21	$25.00	34.4%	9.9%	28.9%	24.9%	34.8%	-4.9%	-11.7%	7.6K	-127.9K	-516	0.74	107.24	N/A	N/A	74	55	165	67
2021-12-31	$27.24	$25.00	37.4%	10.7%	26.9%	29.8%	32.7%	9.2%	-1.7%	8.3K	-127.4K	-522	0.74	118.09	N/A	N/A	74	55	165	67