BHE Options History — February 2022

In February 2022, BHE traded between $23.92 and $26.14. ATM implied volatility averaged 52.7%, placing in the 41.1% IV rank vs the trailing year. The 30-day expected move averaged 14.2%. IV traded above realized volatility by 20.9% (HV 20d: 31.8%). Max pain ranged from $22.50 to $25.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 0.54.

Notable Days

2022-02-15: Highest Volume — 132 contracts
2022-02-23: Largest IV spike — 92.6% change
2022-02-03: Highest IV Rank — 69.3%
2022-02-23: Largest Expected Move — 20.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$24.96	$23.92	$26.14	$24.15	$26.14
Max Pain	$23.03	$22.50	$25.00	$25.00	$25.00
ATM IV	52.7%	32.9%	75.8%	46.9%	52.7%
Expected Move	14.2%	8.8%	20.4%	13.4%	15.1%
HV 20d	31.8%	26.0%	34.2%	27.2%	30.0%
HV 60d	31.4%	29.2%	33.3%	29.9%	29.2%
IV Rank	41.1%	16.9%	69.3%	34.0%	41.1%
IV Percentile	73.2%	14.7%	98.8%	67.9%	79.8%
Term Structure	-5.3%	-39.8%	13.3%	-3.4%	-7.7%
VWIV	52.0%	36.6%	68.7%	44.0%	52.1%
Skew 25d	15.3%	-17.9%	45.3%	4.1%	20.5%
Skew 10d	14.6%	-14.8%	41.1%	24.0%	20.9%
Call IV 25d	42.0%	25.7%	66.6%	45.2%	43.5%
Put IV 25d	57.4%	38.4%	84.7%	49.3%	64.1%
Bid-Ask Spread %	121.87	110.19	136.69	113.91	125.35
Gamma HHI	0.32	0.25	0.44	0.29	0.35
Net GEX	2.2K	1.3K	3.3K	2.0K	2.6K
Net DEX	-26.3K	-42.9K	1.6K	-10.8K	-42.9K
Net VEX	-241	-311	-150	-242	-209
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.54	0.31	1.40	0.38	0.85
Total Volume	96.474	35	132	84	63
Total OI	145.526	111	168	144	118

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
2022-02-01	$24.15	$25.00	46.9%	13.4%	27.2%	34.0%	44.0%	4.1%	-3.4%	2.0K	-10.8K	-242	0.38	113.91	N/A	N/A	61	23	112	32
2022-02-02	$24.17	$25.00	66.5%	19.1%	26.0%	58.0%	62.5%	13.1%	-39.8%	2.3K	-25.9K	-290	0.38	130.32	N/A	N/A	61	23	112	32
2022-02-03	$24.20	$22.50	75.8%	17.4%	26.0%	69.3%	67.1%	-2.6%	-8.5%	2.4K	-25.4K	-311	0.31	118.87	N/A	N/A	74	23	112	32
2022-02-04	$25.23	$22.50	53.7%	8.8%	31.1%	42.3%	53.6%	7.0%	8.4%	3.1K	-35.1K	-218	0.39	121.88	N/A	N/A	80	31	119	32
2022-02-07	$24.23	$22.50	40.8%	12.6%	33.4%	26.6%	45.9%	10.5%	-10.9%	1.5K	-7.3K	-188	0.39	119.65	N/A	N/A	80	31	116	41
2022-02-08	$24.43	$22.50	65.4%	11.2%	33.4%	56.6%	43.3%	8.2%	10.0%	1.9K	-14.4K	-260	0.39	136.69	N/A	N/A	80	31	116	41
2022-02-09	$24.81	$22.50	39.5%	11.3%	34.0%	24.9%	60.7%	28.1%	5.9%	2.2K	-20.1K	-235	0.39	129.81	N/A	N/A	80	31	116	41
2022-02-10	$24.42	$22.50	50.1%	14.4%	34.2%	37.9%	50.3%	16.6%	3.6%	2.6K	-26.3K	-273	0.37	120.61	N/A	N/A	84	31	116	41
2022-02-11	$23.92	$22.50	48.7%	14.0%	34.1%	36.2%	45.1%	5.5%	-6.5%	2.3K	-20.4K	-247	0.37	123.68	N/A	N/A	84	31	117	41
2022-02-14	$24.42	$22.50	48.2%	13.8%	34.2%	35.6%	43.7%	-5.1%	-24.0%	1.3K	1.6K	-150	0.34	121.11	N/A	N/A	92	31	117	41
2022-02-15	$25.17	$22.50	32.9%	9.4%	34.0%	16.9%	36.6%	10.0%	13.3%	3.3K	-32.8K	-239	0.31	118.52	N/A	N/A	101	31	127	41
2022-02-16	$25.29	$22.50	46.4%	13.3%	33.5%	33.4%	62.2%	34.3%	-6.2%	2.1K	-37.5K	-277	0.31	125.84	N/A	N/A	101	31	127	41
2022-02-17	$25.59	$22.50	54.1%	15.5%	32.7%	42.8%	58.1%	44.2%	10.5%	1.7K	-36.8K	-264	0.31	128.57	N/A	N/A	101	31	127	41
2022-02-18	$25.55	$22.50	61.1%	17.5%	32.7%	51.4%	58.3%	14.5%	-5.0%	1.7K	-42.8K	-280	0.31	121.00	N/A	N/A	101	31	127	41
2022-02-22	$25.68	$22.50	37.0%	10.6%	32.5%	22.0%	39.1%	24.2%	-6.9%	2.3K	-31.3K	-199	1.08	112.30	N/A	N/A	26	28	73	38
2022-02-23	$25.54	$22.50	71.3%	20.4%	32.4%	63.8%	68.7%	45.3%	-36.1%	1.6K	-28.9K	-239	1.33	118.55	N/A	N/A	15	20	73	38
2022-02-24	$25.36	$22.50	52.1%	14.9%	31.5%	40.4%	50.8%	-17.9%	-8.4%	2.5K	-26.4K	-221	1.40	110.19	N/A	N/A	15	21	74	39
2022-02-25	$25.99	$25.00	57.8%	16.6%	30.3%	47.3%	45.5%	30.9%	11.0%	2.2K	-35.4K	-239	0.62	118.59	N/A	N/A	34	21	73	40
2022-02-28	$26.14	$25.00	52.7%	15.1%	30.0%	41.1%	52.1%	20.5%	-7.7%	2.6K	-42.9K	-209	0.85	125.35	N/A	N/A	34	29	78	40