BHE Options History — March 2022

In March 2022, BHE traded between $24.85 and $26.52. ATM implied volatility averaged 53.0%, placing in the 41.5% IV rank vs the trailing year. The 30-day expected move averaged 15.5%. IV traded above realized volatility by 25.9% (HV 20d: 27.1%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 22 of 23 trading days. Term structure was in contango for 8 of 23 days. Put/call ratio averaged 1.09.

Notable Days

2022-03-15: Highest Volume — 138 contracts
2022-03-31: Largest IV spike — 65.2% change
2022-03-07: Highest IV Rank — 77.5%
2022-03-07: Largest Expected Move — 23.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$25.80	$24.85	$26.52	$25.16	$24.85
Max Pain	$25.00	$25.00	$25.00	$25.00	$25.00
ATM IV	53.0%	32.9%	82.4%	74.1%	54.4%
Expected Move	15.5%	8.4%	23.6%	21.3%	12.5%
HV 20d	27.1%	23.3%	34.5%	32.6%	23.9%
HV 60d	28.7%	27.0%	30.0%	29.5%	28.7%
IV Rank	41.5%	17.0%	77.5%	67.3%	43.2%
IV Percentile	70.8%	12.3%	99.6%	98.4%	79.8%
Term Structure	-7.1%	-29.5%	13.2%	-18.6%	-16.0%
VWIV	61.1%	31.6%	92.2%	63.5%	31.6%
Skew 25d	3.1%	-27.7%	32.4%	5.9%	-8.9%
Skew 10d	1.7%	-42.4%	39.3%	-0.1%	-12.8%
Call IV 25d	45.1%	33.0%	64.0%	45.8%	50.0%
Put IV 25d	48.3%	27.4%	69.4%	51.7%	41.1%
Bid-Ask Spread %	117.23	80.45	136.53	118.13	104.46
Gamma HHI	0.43	0.27	0.79	0.29	0.52
Net GEX	2.6K	-216	4.7K	1.8K	2.8K
Net DEX	-59.9K	-136.7K	-18.8K	-33.1K	-34.4K
Net VEX	-253	-315	-190	-244	-199
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.09	0.69	1.92	0.69	0.93
Total Volume	82.391	52	138	71	52
Total OI	146.043	113	222	117	113

Daily Data (23 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
2022-03-01	$25.16	$25.00	74.1%	21.3%	32.6%	67.3%	63.5%	5.9%	-18.6%	1.8K	-33.1K	-244	0.69	118.13	N/A	N/A	42	29	78	39
2022-03-02	$25.93	$25.00	58.8%	16.8%	34.0%	48.5%	64.2%	-9.4%	-6.7%	2.8K	-66.8K	-284	0.69	124.45	N/A	N/A	42	29	86	39
2022-03-03	$25.87	$25.00	74.0%	21.2%	34.1%	67.1%	68.2%	24.2%	-21.1%	2.3K	-67.8K	-311	0.69	132.55	N/A	N/A	42	29	86	39
2022-03-04	$25.56	$25.00	69.1%	19.8%	34.5%	61.1%	90.0%	4.8%	-14.1%	2.1K	-62.4K	-309	0.69	128.66	N/A	N/A	42	29	86	39
2022-03-07	$26.04	$25.00	82.4%	23.6%	31.9%	77.5%	92.2%	-4.6%	0.6%	2.8K	-63.5K	-229	0.78	123.70	N/A	N/A	37	29	86	39
2022-03-08	$25.84	$25.00	45.8%	18.8%	28.1%	32.6%	80.0%	7.0%	2.4%	530	-37.7K	-298	1.89	129.88	N/A	N/A	37	70	87	79
2022-03-09	$25.79	$25.00	46.2%	18.3%	28.1%	33.2%	61.2%	-0.0%	-15.8%	522	-40.7K	-315	1.89	135.15	N/A	N/A	37	70	87	89
2022-03-10	$26.00	$25.00	44.9%	14.0%	27.8%	31.6%	49.2%	17.8%	-7.4%	1.2K	-52.4K	-299	1.89	121.77	N/A	N/A	37	70	87	89
2022-03-11	$25.91	$25.00	47.6%	19.1%	27.0%	34.9%	63.1%	2.5%	-11.2%	1.1K	-48.0K	-263	1.92	132.09	N/A	N/A	37	71	87	84
2022-03-14	$25.47	$25.00	39.6%	8.4%	26.6%	25.2%	33.2%	3.4%	-15.9%	-216	-18.8K	-236	1.08	91.83	N/A	N/A	66	71	87	84
2022-03-15	$25.67	$25.00	36.7%	12.6%	25.9%	21.5%	36.5%	-7.2%	8.2%	4.3K	-73.1K	-236	1.06	111.53	N/A	N/A	67	71	127	84
2022-03-16	$26.02	$25.00	45.3%	9.7%	24.1%	32.1%	31.6%	32.4%	-2.9%	4.1K	-85.2K	-230	1.25	106.99	N/A	N/A	57	71	128	84
2022-03-17	$26.28	$0.00	59.8%	17.4%	24.3%	49.8%	0.0%	8.0%	-2.9%	4.7K	-128.9K	-282	1.24	136.53	N/A	N/A	50	62	138	84
2022-03-18	$26.35	$0.00	54.7%	13.1%	24.0%	43.6%	0.0%	-12.4%	-29.5%	3.6K	-136.7K	-212	0.99	131.28	N/A	N/A	67	66	135	85
2022-03-21	$26.43	$0.00	42.3%	10.4%	24.0%	28.4%	0.0%	-4.4%	-12.8%	4.0K	-61.0K	-220	0.93	121.01	N/A	N/A	27	25	82	31
2022-03-22	$26.52	$0.00	58.8%	15.3%	24.0%	48.5%	0.0%	10.5%	-4.6%	2.9K	-65.7K	-288	0.93	111.84	N/A	N/A	27	25	82	31
2022-03-23	$25.82	$0.00	49.2%	15.1%	25.9%	36.8%	0.0%	16.0%	3.8%	3.1K	-60.2K	-243	0.93	114.77	N/A	N/A	27	25	82	31
2022-03-24	$25.60	$0.00	48.7%	15.4%	26.0%	36.3%	0.0%	5.8%	0.7%	3.1K	-55.0K	-235	0.93	113.69	N/A	N/A	27	25	82	31
2022-03-25	$25.83	$0.00	50.5%	15.1%	24.6%	38.4%	0.0%	10.8%	1.3%	2.9K	-53.5K	-237	0.93	110.99	N/A	N/A	27	25	82	31
2022-03-28	$25.31	$0.00	45.3%	14.5%	25.5%	32.0%	0.0%	15.2%	0.9%	3.0K	-43.7K	-225	0.93	80.45	N/A	N/A	27	25	82	31
2022-03-29	$25.96	$0.00	58.4%	12.4%	23.3%	48.1%	0.0%	-17.7%	-15.7%	3.0K	-51.4K	-225	0.93	112.56	N/A	N/A	27	25	82	31
2022-03-30	$25.13	$0.00	32.9%	12.0%	23.7%	17.0%	0.0%	-27.7%	13.2%	3.3K	-38.0K	-190	0.93	101.95	N/A	N/A	27	25	82	31
2022-03-31	$24.85	$0.00	54.4%	12.5%	23.9%	43.2%	0.0%	-8.9%	-16.0%	2.8K	-34.4K	-199	0.93	104.46	N/A	N/A	27	25	82	31