BHE Options History — December 2023

In December 2023, BHE traded between $25.13 and $28.48. ATM implied volatility averaged 42.1%, placing in the 20.8% IV rank vs the trailing year. The 30-day expected move averaged 10.5%. IV traded above realized volatility by 21.0% (HV 20d: 21.1%). Max pain ranged from $20.00 to $25.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 0.00.

Notable Days

2023-12-14: Highest Volume — 63 contracts
2023-12-12: Largest IV spike — 95.2% change
2023-12-12: Highest IV Rank — 51.7%
2023-12-01: Largest Expected Move — 16.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$26.96	$25.13	$28.48	$25.35	$27.79
Max Pain	$24.75	$20.00	$25.00	$20.00	$25.00
ATM IV	42.1%	19.7%	76.8%	57.7%	43.0%
Expected Move	10.5%	5.6%	16.6%	16.6%	12.3%
HV 20d	21.1%	17.9%	22.9%	20.8%	21.9%
HV 60d	22.8%	22.0%	23.8%	22.1%	23.2%
IV Rank	20.8%	0.8%	51.7%	34.7%	21.6%
IV Percentile	46.0%	0.8%	97.6%	85.3%	56.7%
Term Structure	-3.5%	-30.3%	16.4%	-30.3%	-10.4%
VWIV	51.1%	26.1%	101.9%	101.9%	38.4%
Skew 25d	5.7%	-27.1%	31.2%	-27.1%	-16.8%
Skew 10d	7.5%	-33.2%	64.3%	-33.2%	-8.8%
Call IV 25d	34.7%	18.7%	78.3%	78.3%	44.0%
Put IV 25d	40.5%	27.3%	81.9%	51.2%	27.3%
Bid-Ask Spread %	117.31	93.17	136.60	134.53	123.21
Gamma HHI	0.71	0.50	0.93	0.50	0.76
Net GEX	10.0K	898	20.5K	898	13.8K
Net DEX	-189.3K	-366.3K	-17.0K	-17.0K	-257.0K
Net VEX	-1.0K	-1.3K	-771	-949	-1.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	5.1	0	63	17	0
Total OI	354.05	318	394	318	375

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	Spread %	Call Wall	Put Wall	Call Vol	Call OI	Put OI
2023-12-01	$25.35	$20.00	57.7%	16.6%	20.8%	34.7%	101.9%	-27.1%	-30.3%	898	-17.0K	-949	134.53	N/A	N/A	17	212	106
2023-12-04	$25.56	$25.00	67.6%	12.2%	20.9%	43.5%	0.0%	22.3%	-6.4%	4.4K	-82.1K	-1.1K	136.60	N/A	N/A	0	228	106
2023-12-05	$25.41	$25.00	54.5%	13.2%	20.9%	31.8%	0.0%	0.2%	-12.1%	4.9K	-85.3K	-1.1K	128.36	N/A	N/A	0	228	106
2023-12-06	$25.13	$25.00	42.1%	14.0%	20.4%	20.8%	0.0%	-1.5%	-18.7%	5.3K	-76.0K	-1.1K	128.65	N/A	N/A	3	228	106
2023-12-07	$25.37	$25.00	59.6%	10.4%	19.8%	36.3%	0.0%	14.1%	-5.9%	1.8K	-41.7K	-948	123.70	N/A	N/A	0	228	106
2023-12-08	$25.66	$25.00	50.1%	9.5%	20.0%	27.9%	0.0%	3.9%	2.3%	3.1K	-72.6K	-939	115.27	N/A	N/A	0	228	106
2023-12-11	$26.16	$25.00	39.3%	10.0%	20.1%	18.3%	0.0%	4.2%	-6.4%	4.4K	-111.3K	-931	117.78	N/A	N/A	1	228	106
2023-12-12	$26.13	$25.00	76.8%	10.2%	19.8%	51.7%	31.2%	15.0%	-0.2%	3.1K	-90.5K	-922	110.76	N/A	N/A	13	228	106
2023-12-13	$26.49	$25.00	31.1%	8.9%	17.9%	10.9%	0.0%	14.3%	5.6%	3.0K	-118.1K	-885	110.71	N/A	N/A	0	225	106
2023-12-14	$27.51	$25.00	19.7%	5.6%	21.9%	0.8%	0.0%	14.3%	11.2%	8.5K	-209.2K	-947	115.76	N/A	N/A	63	226	106
2023-12-15	$28.01	$25.00	20.4%	5.8%	21.3%	1.4%	26.1%	25.7%	16.4%	13.0K	-310.7K	-1.2K	114.50	N/A	N/A	1	288	106
2023-12-18	$27.60	$25.00	31.9%	9.2%	22.4%	11.7%	58.1%	-5.0%	-3.7%	13.3K	-224.0K	-1.1K	116.83	N/A	N/A	1	274	100
2023-12-19	$28.11	$25.00	44.0%	12.6%	22.9%	22.4%	0.0%	13.9%	-5.9%	13.5K	-288.7K	-1.3K	120.86	N/A	N/A	0	273	100
2023-12-20	$27.88	$25.00	32.4%	9.3%	22.4%	12.1%	0.0%	11.3%	12.9%	15.4K	-278.9K	-1.1K	116.46	N/A	N/A	0	273	100
2023-12-21	$27.92	$25.00	40.0%	11.5%	22.1%	18.9%	38.4%	10.6%	-10.5%	16.5K	-285.3K	-1.2K	115.29	N/A	N/A	2	273	100
2023-12-22	$28.19	$25.00	24.9%	7.2%	22.1%	5.5%	0.0%	-1.5%	9.3%	16.1K	-293.0K	-1.1K	106.63	N/A	N/A	0	275	100
2023-12-26	$28.48	$25.00	45.1%	12.9%	22.1%	23.4%	0.0%	-8.0%	-17.3%	19.5K	-366.3K	-1.1K	93.17	N/A	N/A	0	275	100
2023-12-27	$28.29	$25.00	35.1%	10.1%	21.0%	14.5%	0.0%	-6.4%	-0.5%	19.7K	-301.8K	-1.1K	102.47	N/A	N/A	0	275	100
2023-12-28	$28.12	$25.00	27.0%	7.7%	21.1%	7.3%	0.0%	31.2%	1.4%	20.5K	-275.9K	-771	114.60	N/A	N/A	1	275	100
2023-12-29	$27.79	$25.00	43.0%	12.3%	21.9%	21.6%	0.0%	-16.8%	-10.4%	13.8K	-257.0K	-1.1K	123.21	N/A	N/A	0	275	100