BHE Options History — January 2024

In January 2024, BHE traded between $25.49 and $27.64. ATM implied volatility averaged 43.1%, placing in the 21.6% IV rank vs the trailing year. The 30-day expected move averaged 12.0%. IV traded above realized volatility by 20.5% (HV 20d: 22.6%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 19 of 21 trading days. Term structure was in contango for 4 of 21 days. Put/call ratio averaged 0.38.

Notable Days

2024-01-30: Highest Volume — 42 contracts
2024-01-09: Largest IV spike — 40.0% change
2024-01-02: Highest IV Rank — 35.2%
2024-01-02: Largest Expected Move — 16.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$26.73	$25.49	$27.64	$27.21	$27.21
Max Pain	$25.48	$25.00	$30.00	$25.00	$25.00
ATM IV	43.1%	30.4%	58.3%	58.3%	48.3%
Expected Move	12.0%	8.7%	16.7%	16.7%	13.9%
HV 20d	22.6%	17.5%	25.3%	23.0%	24.8%
HV 60d	22.8%	21.6%	23.9%	23.6%	22.7%
IV Rank	21.6%	10.3%	35.2%	35.2%	26.3%
IV Percentile	52.2%	9.5%	86.9%	86.9%	71.4%
Term Structure	-10.2%	-49.2%	20.4%	-45.9%	-26.1%
VWIV	40.0%	10.8%	55.3%	10.8%	48.2%
Skew 25d	2.2%	-34.6%	21.4%	-0.0%	0.2%
Skew 10d	2.9%	-30.4%	12.0%	5.5%	-3.3%
Call IV 25d	40.5%	29.1%	71.8%	37.9%	45.8%
Put IV 25d	42.6%	36.1%	60.5%	37.9%	46.0%
Bid-Ask Spread %	92.97	50.90	115.60	112.00	50.90
Gamma HHI	0.65	0.51	0.93	0.70	0.66
Net GEX	4.8K	-10.1K	10.3K	10.3K	5.1K
Net DEX	-119.8K	-200.7K	7.4K	-200.7K	-107.5K
Net VEX	-623	-892	-447	-813	-508
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.38	0.00	1.47	0.00	0.14
Total Volume	8.333	0	42	5	32
Total OI	315.19	175	425	375	209

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
2024-01-02	$27.21	$25.00	58.3%	16.7%	23.0%	35.2%	0.0%	-0.0%	-45.9%	10.3K	-200.7K	-813	0.00	112.00	N/A	N/A	5	0	275	100
2024-01-03	$26.73	$25.00	56.0%	16.0%	24.1%	33.1%	0.0%	-34.6%	-49.2%	5.6K	-138.9K	-749	0.50	115.60	N/A	N/A	2	1	279	100
2024-01-04	$26.77	$30.00	54.6%	10.6%	23.9%	31.9%	0.0%	3.6%	-4.6%	5.2K	-140.0K	-700	0.00	81.88	N/A	N/A	0	0	281	101
2024-01-05	$26.70	$30.00	47.9%	10.5%	23.5%	25.9%	10.8%	15.2%	20.4%	8.8K	-174.8K	-892	0.00	115.00	N/A	N/A	1	0	281	101
2024-01-08	$26.98	$25.00	36.0%	10.1%	23.5%	15.3%	0.0%	1.8%	-1.5%	7.4K	-157.4K	-646	0.00	92.06	N/A	N/A	0	0	282	101
2024-01-09	$26.77	$25.00	50.4%	15.8%	23.6%	28.1%	55.3%	14.0%	-32.2%	8.1K	-163.3K	-782	0.00	100.30	N/A	N/A	1	0	282	101
2024-01-10	$26.81	$25.00	47.6%	13.7%	22.7%	25.7%	0.0%	21.4%	-15.1%	3.9K	-160.6K	-590	0.00	105.58	N/A	N/A	8	0	283	101
2024-01-11	$26.83	$25.00	43.8%	12.6%	22.7%	22.3%	0.0%	13.2%	-12.7%	9.4K	-163.3K	-755	0.00	103.32	N/A	N/A	0	0	289	101
2024-01-12	$26.70	$25.00	33.9%	9.7%	22.3%	13.5%	0.0%	5.4%	0.6%	9.8K	-147.6K	-739	0.00	78.35	N/A	N/A	0	0	289	101
2024-01-16	$26.52	$25.00	38.7%	11.1%	17.5%	17.7%	38.7%	2.5%	-8.6%	7.7K	-130.4K	-627	0.00	85.06	N/A	N/A	0	35	289	101
2024-01-17	$25.49	$25.00	34.6%	9.9%	20.5%	14.1%	34.6%	-0.1%	-1.4%	-3.6K	7.4K	-619	0.80	108.91	N/A	N/A	5	4	289	136
2024-01-18	$25.73	$25.00	35.8%	10.3%	20.8%	15.1%	0.0%	-8.4%	-2.3%	-10.1K	-37.1K	-571	0.00	97.26	N/A	N/A	0	0	285	138
2024-01-19	$25.82	$25.00	39.8%	11.4%	19.3%	18.7%	0.0%	4.2%	-6.7%	1.6K	-92.5K	-539	0.00	75.19	N/A	N/A	0	0	285	138
2024-01-22	$26.54	$25.00	39.7%	11.4%	22.3%	18.6%	41.1%	1.0%	-6.3%	2.8K	-70.7K	-531	0.50	89.49	N/A	N/A	4	2	123	56
2024-01-23	$26.99	$25.00	30.4%	8.7%	23.3%	10.3%	0.0%	-4.9%	11.6%	4.5K	-99.2K	-559	0.00	95.91	N/A	N/A	0	0	127	58
2024-01-24	$27.04	$25.00	41.0%	11.8%	22.9%	19.8%	0.0%	3.9%	1.6%	4.5K	-104.4K	-513	0.00	95.78	N/A	N/A	0	0	132	58
2024-01-25	$27.02	$25.00	40.6%	11.6%	22.5%	19.4%	41.5%	2.2%	-6.3%	4.5K	-105.1K	-506	0.00	86.75	N/A	N/A	0	1	132	58
2024-01-26	$26.99	$25.00	41.8%	12.0%	22.4%	20.5%	0.0%	0.4%	-9.2%	4.4K	-106.1K	-498	0.00	87.91	N/A	N/A	0	0	132	59
2024-01-29	$26.76	$25.00	45.4%	13.0%	22.5%	23.7%	45.4%	1.8%	-10.8%	3.7K	-87.5K	-492	0.00	88.38	N/A	N/A	0	32	132	59
2024-01-30	$27.64	$25.00	40.1%	11.5%	25.3%	19.0%	44.4%	2.4%	-9.3%	7.2K	-137.0K	-447	1.47	86.76	N/A	N/A	17	25	132	43
2024-01-31	$27.21	$25.00	48.3%	13.9%	24.8%	26.3%	48.2%	0.2%	-26.1%	5.1K	-107.5K	-508	0.14	50.90	N/A	N/A	28	4	142	67