BHE Options History — January 2022

In January 2022, BHE traded between $23.27 and $27.93. ATM implied volatility averaged 48.8%, placing in the 44.0% IV rank vs the trailing year. The 30-day expected move averaged 13.6%. IV traded above realized volatility by 23.0% (HV 20d: 25.8%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 0.69.

Notable Days

2022-01-18: Highest Volume — 150 contracts
2022-01-25: Largest IV spike — 102.1% change
2022-01-25: Highest IV Rank — 100.0%
2022-01-25: Largest Expected Move — 28.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$25.76	$23.27	$27.93	$27.46	$23.93
Max Pain	$26.00	$25.00	$30.00	$25.00	$25.00
ATM IV	48.8%	31.5%	100.9%	32.0%	36.9%
Expected Move	13.6%	8.9%	28.9%	9.2%	10.6%
HV 20d	25.8%	23.5%	30.5%	26.2%	27.2%
HV 60d	33.3%	30.0%	35.2%	33.8%	30.0%
IV Rank	44.0%	20.2%	100.0%	21.1%	21.8%
IV Percentile	56.3%	10.7%	100.0%	13.5%	31.3%
Term Structure	-1.9%	-23.0%	20.0%	-7.0%	4.2%
VWIV	45.2%	30.4%	63.5%	30.5%	48.1%
Skew 25d	10.9%	-7.2%	55.1%	12.0%	8.9%
Skew 10d	15.5%	-3.5%	53.6%	13.4%	15.6%
Call IV 25d	43.7%	22.9%	75.9%	25.4%	45.5%
Put IV 25d	54.5%	34.6%	88.9%	37.4%	54.4%
Bid-Ask Spread %	114.75	103.81	125.98	109.12	117.03
Gamma HHI	0.45	0.29	0.67	0.54	0.32
Net GEX	5.2K	1.6K	9.4K	8.4K	2.0K
Net DEX	-78.7K	-162.0K	-6.8K	-147.4K	-11.2K
Net VEX	-377	-595	-205	-531	-205
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.69	0.36	0.93	0.81	0.38
Total Volume	118.75	83	150	123	84
Total OI	210.5	136	249	233	144

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
2022-01-03	$27.46	$25.00	32.0%	9.2%	26.2%	21.1%	30.5%	12.0%	-7.0%	8.4K	-147.4K	-531	0.81	109.12	N/A	N/A	68	55	166	67
2022-01-04	$27.93	$25.00	31.5%	9.0%	25.2%	20.2%	59.4%	55.1%	20.0%	7.9K	-162.0K	-595	0.81	111.63	N/A	N/A	68	55	169	67
2022-01-05	$27.54	$25.00	34.8%	10.0%	25.3%	25.6%	35.7%	9.7%	-4.7%	9.4K	-150.8K	-520	0.81	103.81	N/A	N/A	68	55	169	67
2022-01-06	$27.55	$30.00	36.0%	8.9%	24.9%	27.5%	30.4%	5.9%	3.6%	8.4K	-127.2K	-470	0.81	107.54	N/A	N/A	68	55	170	67
2022-01-07	$27.10	$30.00	54.2%	14.2%	25.6%	57.1%	35.5%	17.3%	-10.1%	8.2K	-120.1K	-497	0.81	114.79	N/A	N/A	68	55	170	67
2022-01-10	$26.60	$30.00	78.6%	12.8%	25.1%	96.6%	34.9%	21.7%	18.0%	7.0K	-111.0K	-500	0.88	118.67	N/A	N/A	68	60	170	67
2022-01-11	$26.37	$30.00	33.8%	14.0%	25.5%	23.9%	46.1%	1.0%	-12.7%	6.1K	-83.6K	-309	0.93	114.87	N/A	N/A	68	63	170	67
2022-01-12	$26.06	$25.00	42.6%	12.2%	25.7%	38.3%	40.1%	4.2%	-13.1%	5.0K	-72.4K	-389	0.93	111.07	N/A	N/A	68	63	170	70
2022-01-13	$26.43	$25.00	35.7%	10.2%	26.0%	27.0%	38.0%	-4.1%	-2.5%	6.0K	-86.6K	-355	0.93	118.59	N/A	N/A	68	63	170	70
2022-01-14	$26.95	$25.00	34.6%	9.9%	26.5%	25.2%	31.6%	15.7%	-1.4%	7.2K	-109.7K	-413	0.91	111.50	N/A	N/A	69	63	170	70
2022-01-18	$25.94	$25.00	41.5%	11.9%	30.4%	36.5%	37.6%	6.9%	-10.9%	3.4K	-93.3K	-288	0.72	105.08	N/A	N/A	87	63	170	70
2022-01-19	$25.48	$25.00	43.5%	12.5%	30.5%	39.7%	45.9%	-3.6%	6.5%	6.1K	-85.8K	-394	0.72	114.16	N/A	N/A	87	63	180	69
2022-01-20	$24.92	$25.00	58.9%	16.9%	26.8%	64.6%	51.2%	-7.2%	18.3%	5.1K	-69.1K	-344	0.72	121.02	N/A	N/A	87	63	180	69
2022-01-21	$25.00	$25.00	58.9%	16.9%	25.5%	64.8%	53.1%	-2.1%	10.7%	2.9K	-43.0K	-365	0.72	116.65	N/A	N/A	87	63	180	69
2022-01-24	$24.76	$25.00	49.9%	14.3%	24.3%	50.1%	59.1%	28.9%	-3.3%	2.6K	-21.2K	-219	0.36	118.37	N/A	N/A	61	22	109	27
2022-01-25	$24.53	$25.00	100.9%	28.9%	23.5%	100.0%	57.8%	6.7%	-19.9%	2.5K	-47.2K	-362	0.41	125.98	N/A	N/A	61	25	112	28
2022-01-26	$24.05	$25.00	51.5%	14.8%	23.6%	39.6%	63.5%	17.4%	-5.1%	2.3K	-17.7K	-279	0.41	108.60	N/A	N/A	61	25	112	31
2022-01-27	$23.39	$25.00	60.0%	17.2%	24.1%	50.1%	55.7%	26.9%	-23.0%	1.6K	-6.8K	-238	0.38	122.89	N/A	N/A	61	23	112	31
2022-01-28	$23.27	$25.00	60.4%	17.3%	24.1%	50.5%	50.4%	-4.4%	-5.6%	1.6K	-7.8K	-274	0.38	123.73	N/A	N/A	61	23	112	32
2022-01-31	$23.93	$25.00	36.9%	10.6%	27.2%	21.8%	48.1%	8.9%	4.2%	2.0K	-11.2K	-205	0.38	117.03	N/A	N/A	61	23	112	32