BHE Options History — February 2024

In February 2024, BHE traded between $28.66 and $30.76. ATM implied volatility averaged 31.0%, placing in the 10.9% IV rank vs the trailing year. The 30-day expected move averaged 8.9%. IV traded below realized volatility by 15.4% (HV 20d: 46.4%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 10 of 20 days. Put/call ratio averaged 0.28.

Notable Days

2024-02-14: Highest Volume — 80 contracts
2024-02-16: Largest IV spike — 87.4% change
2024-02-16: Highest IV Rank — 43.0%
2024-02-16: Largest Expected Move — 19.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$29.87	$28.66	$30.76	$29.57	$30.71
Max Pain	$28.25	$25.00	$30.00	$30.00	$30.00
ATM IV	31.0%	23.7%	67.0%	28.2%	26.9%
Expected Move	8.9%	6.8%	19.2%	7.2%	7.7%
HV 20d	46.4%	37.7%	50.5%	37.7%	49.4%
HV 60d	32.1%	28.1%	34.2%	28.1%	34.2%
IV Rank	10.9%	4.4%	43.0%	8.4%	7.2%
IV Percentile	15.6%	1.6%	96.0%	5.6%	6.0%
Term Structure	-3.3%	-34.0%	8.4%	5.6%	-0.7%
VWIV	29.3%	23.6%	36.3%	31.2%	25.7%
Skew 25d	3.2%	-6.8%	43.3%	2.8%	-6.8%
Skew 10d	3.9%	-13.6%	70.3%	3.3%	-2.0%
Call IV 25d	32.3%	24.4%	45.9%	27.5%	37.1%
Put IV 25d	35.5%	24.1%	89.1%	30.2%	30.3%
Bid-Ask Spread %	113.33	104.08	126.90	104.08	112.00
Gamma HHI	0.83	0.46	0.98	0.94	0.91
Net GEX	12.1K	367	29.0K	18.9K	9.2K
Net DEX	-303.0K	-445.1K	-139.6K	-358.3K	-341.3K
Net VEX	-504	-635	-323	-458	-571
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.28	0.00	2.50	1.39	0.00
Total Volume	18.15	0	80	74	1
Total OI	277.15	232	349	253	277

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	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2024-02-01	$29.57	$30.00	28.2%	7.2%	37.7%	8.4%	31.2%	2.8%	5.6%	18.9K	-358.3K	-458	1.39	104.08	N/A	N/A	31	43	185	68
2024-02-02	$30.68	$25.00	29.5%	8.2%	39.4%	9.5%	28.7%	0.5%	-2.0%	17.5K	-445.1K	-423	0.00	106.11	N/A	N/A	29	0	185	108
2024-02-05	$30.05	$25.00	27.8%	7.8%	40.4%	8.0%	0.0%	-1.2%	0.4%	20.9K	-392.8K	-458	0.00	112.00	N/A	N/A	1	0	182	108
2024-02-06	$29.34	$25.00	29.2%	10.0%	41.7%	9.3%	0.0%	2.2%	-7.3%	17.3K	-340.6K	-480	0.00	118.46	N/A	N/A	0	0	181	108
2024-02-07	$28.66	$25.00	24.8%	7.1%	42.7%	5.4%	24.9%	3.6%	0.6%	14.3K	-263.1K	-409	0.00	106.33	N/A	N/A	10	0	181	108
2024-02-08	$29.44	$25.00	27.6%	7.9%	43.5%	7.9%	0.0%	-5.9%	-1.5%	24.2K	-331.4K	-466	0.00	111.90	N/A	N/A	34	0	191	108
2024-02-09	$30.16	$25.00	25.4%	7.3%	44.0%	5.9%	0.0%	-1.9%	1.0%	26.3K	-390.8K	-386	0.00	111.94	N/A	N/A	0	0	175	108
2024-02-12	$30.76	$25.00	23.7%	6.8%	44.1%	4.4%	23.6%	0.4%	4.2%	19.6K	-431.1K	-323	2.50	116.32	N/A	N/A	10	25	175	108
2024-02-13	$28.98	$30.00	26.4%	7.6%	49.9%	6.7%	0.0%	3.8%	2.3%	11.4K	-212.7K	-457	0.00	109.06	N/A	N/A	2	0	167	133
2024-02-14	$29.86	$30.00	33.1%	9.5%	47.8%	12.7%	33.0%	36.3%	-6.7%	12.0K	-296.6K	-399	0.29	119.14	N/A	N/A	62	18	168	133
2024-02-15	$30.42	$30.00	35.8%	10.3%	47.9%	15.1%	36.3%	1.5%	-10.0%	29.0K	-411.3K	-613	0.00	121.32	N/A	N/A	11	0	198	151
2024-02-16	$30.45	$30.00	67.0%	19.2%	48.0%	43.0%	0.0%	5.1%	-34.0%	367	-406.2K	-619	0.00	126.90	N/A	N/A	6	0	197	151
2024-02-20	$29.21	$30.00	32.8%	9.4%	50.5%	12.5%	33.5%	-2.8%	8.4%	1.4K	-139.6K	-621	0.04	114.09	N/A	N/A	23	1	127	105
2024-02-21	$29.54	$30.00	36.0%	10.3%	50.4%	15.3%	35.0%	-1.2%	-2.6%	1.8K	-192.1K	-595	0.00	117.28	N/A	N/A	0	1	127	106
2024-02-22	$29.55	$30.00	24.6%	7.0%	50.4%	5.1%	24.7%	-3.3%	3.3%	2.3K	-175.8K	-528	0.00	106.07	N/A	N/A	20	0	127	107
2024-02-23	$29.69	$30.00	25.5%	7.3%	50.4%	6.0%	25.5%	-3.3%	1.4%	1.8K	-218.9K	-635	0.00	111.74	N/A	N/A	4	0	139	107
2024-02-26	$29.94	$30.00	25.7%	7.4%	50.3%	6.1%	0.0%	-3.8%	-0.8%	4.1K	-225.5K	-585	0.00	111.94	N/A	N/A	0	0	141	107
2024-02-27	$30.41	$30.00	44.2%	12.7%	50.2%	22.6%	0.0%	43.3%	-28.1%	4.9K	-252.5K	-506	0.00	118.81	N/A	N/A	0	0	141	107
2024-02-28	$30.06	$30.00	25.7%	7.4%	49.6%	6.1%	25.7%	-4.3%	0.3%	3.8K	-234.6K	-545	0.03	111.02	N/A	N/A	30	1	141	107
2024-02-29	$30.71	$30.00	26.9%	7.7%	49.4%	7.2%	0.0%	-6.8%	-0.7%	9.2K	-341.3K	-571	0.00	112.00	N/A	N/A	1	0	169	108