BHE Options History — May 2022

In May 2022, BHE traded between $23.51 and $25.48. ATM implied volatility averaged 49.6%, placing in the 23.9% IV rank vs the trailing year. The 30-day expected move averaged 13.5%. IV traded above realized volatility by 16.2% (HV 20d: 33.4%). Max pain ranged from $17.50 to $25.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.75.

Notable Days

2022-05-18: Highest Volume — 64 contracts
2022-05-03: Largest IV spike — 58.6% change
2022-05-10: Highest IV Rank — 42.2%
2022-05-03: Largest Expected Move — 20.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$24.35	$23.51	$25.48	$23.66	$25.48
Max Pain	$23.21	$17.50	$25.00	$25.00	$22.50
ATM IV	49.6%	29.9%	73.0%	45.8%	39.9%
Expected Move	13.5%	8.6%	20.8%	13.1%	11.4%
HV 20d	33.4%	29.2%	37.4%	29.4%	33.8%
HV 60d	29.2%	27.4%	31.0%	29.7%	29.6%
IV Rank	23.9%	8.5%	42.2%	20.9%	16.3%
IV Percentile	58.3%	6.0%	95.6%	58.3%	36.1%
Term Structure	-2.8%	-30.6%	19.4%	-1.6%	17.4%
VWIV	49.3%	34.8%	73.8%	40.1%	47.2%
Skew 25d	11.8%	-2.7%	38.3%	12.0%	7.8%
Skew 10d	16.5%	-1.1%	42.8%	-0.4%	1.0%
Call IV 25d	41.9%	29.2%	68.2%	33.0%	35.9%
Put IV 25d	53.7%	40.8%	81.7%	45.0%	43.7%
Bid-Ask Spread %	120.76	104.76	137.63	132.45	120.74
Gamma HHI	0.76	0.64	0.87	0.73	0.84
Net GEX	5.9K	4.1K	10.6K	5.2K	8.7K
Net DEX	-77.8K	-118.6K	-55.0K	-60.6K	-118.6K
Net VEX	-365	-420	-302	-417	-302
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.75	0.64	0.86	0.67	0.82
Total Volume	51.81	39	64	55	40
Total OI	136	131	147	136	132

Daily Data (21 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
2022-05-02	$23.66	$25.00	45.8%	13.1%	29.4%	20.9%	40.1%	12.0%	-1.6%	5.2K	-60.6K	-417	0.67	132.45	N/A	N/A	33	22	105	31
2022-05-03	$23.78	$25.00	72.7%	20.8%	29.2%	41.9%	73.8%	1.5%	-30.6%	4.3K	-61.6K	-419	0.67	135.63	N/A	N/A	33	22	105	31
2022-05-04	$24.49	$25.00	65.2%	18.7%	30.0%	36.0%	73.5%	19.8%	-27.9%	6.2K	-64.7K	-390	0.67	137.63	N/A	N/A	33	22	105	31
2022-05-05	$24.05	$17.50	37.2%	8.7%	30.6%	14.2%	39.0%	38.3%	0.7%	5.6K	-72.6K	-396	0.67	118.26	N/A	N/A	33	22	105	31
2022-05-06	$24.34	$17.50	46.4%	12.1%	30.8%	21.4%	37.6%	24.6%	6.0%	5.0K	-73.1K	-404	0.67	108.78	N/A	N/A	33	22	105	31
2022-05-09	$24.19	$17.50	70.3%	16.4%	30.0%	40.0%	51.5%	23.4%	6.1%	4.3K	-77.7K	-420	0.67	110.49	N/A	N/A	33	22	105	31
2022-05-10	$24.53	$17.50	73.0%	11.8%	29.5%	42.2%	43.0%	17.4%	0.1%	5.6K	-91.8K	-397	0.70	107.58	N/A	N/A	33	23	105	31
2022-05-11	$24.68	$25.00	64.6%	18.5%	29.4%	35.6%	58.2%	7.4%	-12.4%	4.4K	-83.1K	-393	0.70	104.76	N/A	N/A	33	23	105	32
2022-05-12	$23.51	$25.00	49.2%	14.1%	33.7%	23.5%	61.0%	4.3%	-10.9%	4.1K	-55.0K	-367	0.76	117.47	N/A	N/A	33	25	105	32
2022-05-13	$24.13	$25.00	47.1%	13.5%	34.5%	21.9%	49.9%	11.1%	-4.1%	5.1K	-74.0K	-376	0.76	117.61	N/A	N/A	33	25	105	32
2022-05-16	$24.09	$25.00	48.1%	13.8%	34.3%	22.7%	50.0%	2.2%	-7.1%	5.1K	-69.0K	-352	0.76	116.74	N/A	N/A	33	25	105	32
2022-05-17	$25.12	$25.00	42.4%	12.2%	37.2%	18.3%	40.6%	3.1%	3.1%	7.3K	-97.7K	-365	0.76	111.19	N/A	N/A	33	25	105	32
2022-05-18	$25.10	$25.00	42.5%	12.2%	35.5%	18.3%	44.9%	15.2%	-8.3%	6.6K	-106.4K	-361	0.64	120.55	N/A	N/A	39	25	105	32
2022-05-19	$24.25	$25.00	53.4%	15.3%	37.4%	26.8%	55.5%	5.1%	-4.2%	5.8K	-89.4K	-362	0.81	122.16	N/A	N/A	31	25	114	32
2022-05-20	$23.96	$25.00	42.9%	12.3%	37.4%	18.6%	44.5%	12.9%	-4.2%	4.8K	-56.4K	-331	0.81	122.36	N/A	N/A	31	25	115	32
2022-05-23	$24.04	$25.00	47.2%	13.5%	37.4%	22.0%	59.1%	12.6%	7.5%	5.5K	-70.0K	-341	0.86	132.14	N/A	N/A	21	18	105	26
2022-05-24	$24.07	$25.00	49.7%	14.3%	36.8%	24.0%	49.2%	-2.7%	-14.8%	5.9K	-58.1K	-302	0.86	126.27	N/A	N/A	21	18	105	26
2022-05-25	$24.13	$25.00	35.3%	10.1%	36.5%	12.7%	41.1%	26.8%	3.3%	5.6K	-71.0K	-328	0.82	128.31	N/A	N/A	22	18	105	26
2022-05-26	$24.55	$22.50	38.8%	11.1%	33.4%	15.5%	40.3%	2.7%	3.2%	7.7K	-76.6K	-320	0.82	121.39	N/A	N/A	22	18	106	26
2022-05-27	$25.22	$22.50	29.9%	8.6%	33.8%	8.5%	34.8%	2.7%	19.4%	10.6K	-105.6K	-323	0.82	123.55	N/A	N/A	22	18	106	26
2022-05-31	$25.48	$22.50	39.9%	11.4%	33.8%	16.3%	47.2%	7.8%	17.4%	8.7K	-118.6K	-302	0.82	120.74	N/A	N/A	22	18	106	26