BHE Options History — August 2025

In August 2025, BHE traded between $37.58 and $41.24. ATM implied volatility averaged 57.0%, placing in the 29.3% IV rank vs the trailing year. The 30-day expected move averaged 12.6%. IV traded above realized volatility by 18.6% (HV 20d: 38.4%). Max pain ranged from $35.00 to $40.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 0.49.

Notable Days

2025-08-07: Highest Volume — 18 contracts
2025-08-11: Largest IV spike — 212.6% change
2025-08-12: Highest IV Rank — 100.0%
2025-08-19: Largest Expected Move — 16.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$39.51	$37.58	$41.24	$37.58	$40.52
Max Pain	$39.76	$35.00	$40.00	$35.00	$40.00
ATM IV	57.0%	29.2%	142.8%	39.0%	37.5%
Expected Move	12.6%	8.4%	16.8%	11.2%	10.8%
HV 20d	38.4%	29.7%	43.7%	29.7%	39.6%
HV 60d	29.9%	26.5%	32.4%	26.5%	31.6%
IV Rank	29.3%	4.1%	100.0%	14.3%	11.0%
IV Percentile	53.2%	4.8%	100.0%	28.6%	21.0%
Term Structure	-9.0%	-25.8%	4.1%	4.1%	-13.4%
VWIV	39.0%	29.4%	49.5%	45.7%	29.4%
Skew 25d	-8.3%	-33.7%	48.6%	48.6%	-1.2%
Skew 10d	-9.8%	-50.4%	99.6%	99.6%	10.5%
Call IV 25d	52.3%	31.5%	76.7%	34.0%	70.5%
Put IV 25d	44.0%	21.9%	82.5%	82.5%	69.3%
Bid-Ask Spread %	113.38	76.74	127.39	120.77	110.65
Gamma HHI	0.55	0.33	0.81	0.80	0.38
Net GEX	4.0K	2.7K	6.1K	3.9K	4.0K
Net DEX	-84.8K	-111.0K	-48.3K	-68.9K	-93.8K
Net VEX	-567	-674	-332	-332	-668
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.49	0.00	2.00	0.50	0.00
Total Volume	4.524	0	18	2	2
Total OI	88.048	57	101	57	101

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
2025-08-01	$37.58	$35.00	39.0%	11.2%	29.7%	14.3%	0.0%	48.6%	4.1%	3.9K	-68.9K	-332	0.00	120.77	N/A	N/A	0	2	52	5
2025-08-04	$39.75	$40.00	71.1%	11.8%	35.8%	45.4%	45.7%	-6.7%	-10.7%	3.9K	-95.1K	-351	0.50	115.42	N/A	N/A	8	4	52	7
2025-08-05	$39.02	$40.00	48.7%	12.5%	35.8%	23.8%	0.0%	-19.3%	-9.8%	5.2K	-95.1K	-428	2.00	114.97	N/A	N/A	1	2	60	11
2025-08-06	$38.64	$40.00	56.1%	11.3%	35.9%	30.9%	39.4%	-10.7%	-1.2%	4.8K	-90.6K	-445	0.30	101.69	N/A	N/A	10	3	60	13
2025-08-07	$38.39	$40.00	82.1%	12.6%	35.5%	56.2%	49.5%	-14.4%	-16.7%	4.4K	-79.5K	-481	0.20	102.33	N/A	N/A	15	3	62	16
2025-08-08	$38.52	$40.00	38.0%	8.8%	34.9%	13.4%	0.0%	-2.5%	2.1%	6.1K	-77.6K	-514	1.33	102.54	N/A	N/A	3	4	66	19
2025-08-11	$37.98	$40.00	118.9%	11.6%	35.2%	91.9%	0.0%	-18.0%	-11.1%	4.3K	-79.2K	-560	0.00	117.86	N/A	N/A	0	0	68	23
2025-08-12	$39.78	$40.00	142.8%	11.9%	38.9%	100.0%	0.0%	-21.8%	-9.5%	5.0K	-96.5K	-556	1.00	119.54	N/A	N/A	1	1	68	23
2025-08-13	$40.39	$40.00	40.3%	11.6%	39.3%	13.5%	31.4%	14.5%	-7.3%	5.0K	-111.0K	-550	0.50	103.13	N/A	N/A	4	2	68	24
2025-08-14	$39.92	$40.00	41.8%	12.0%	38.8%	14.8%	0.0%	-14.7%	-1.8%	5.3K	-104.1K	-597	0.50	120.16	N/A	N/A	2	1	71	26
2025-08-15	$38.98	$40.00	57.4%	16.5%	39.3%	28.0%	0.0%	-8.7%	-23.2%	3.1K	-67.7K	-593	0.43	120.43	N/A	N/A	7	3	72	27
2025-08-18	$39.69	$40.00	29.2%	8.4%	39.7%	4.1%	35.1%	-0.5%	-0.6%	3.4K	-67.3K	-625	0.50	76.74	N/A	N/A	4	2	57	30
2025-08-19	$38.95	$40.00	58.7%	16.8%	40.2%	29.1%	0.0%	-23.6%	-10.2%	2.7K	-61.1K	-674	0.00	104.30	N/A	N/A	1	0	61	32
2025-08-20	$38.19	$40.00	43.3%	12.4%	40.2%	16.1%	42.5%	-23.3%	-10.0%	2.7K	-63.5K	-640	0.00	120.59	N/A	N/A	2	0	61	32
2025-08-21	$38.31	$40.00	54.8%	15.7%	37.8%	25.8%	0.0%	-33.7%	-25.8%	2.8K	-48.3K	-621	0.00	122.60	N/A	N/A	0	1	63	32
2025-08-22	$40.73	$40.00	52.2%	15.0%	43.7%	23.6%	0.0%	12.3%	-14.3%	3.3K	-90.7K	-663	0.00	127.39	N/A	N/A	0	0	63	33
2025-08-25	$40.92	$40.00	55.6%	15.9%	43.7%	26.4%	0.0%	-5.3%	-7.9%	3.3K	-91.3K	-649	0.00	116.80	N/A	N/A	0	0	63	33
2025-08-26	$41.05	$40.00	39.5%	11.3%	42.5%	12.8%	29.4%	-29.5%	-1.8%	2.9K	-98.6K	-644	0.50	122.10	N/A	N/A	2	1	63	33
2025-08-27	$41.19	$40.00	37.8%	10.8%	40.4%	11.2%	0.0%	-29.0%	-9.6%	3.2K	-95.0K	-640	0.00	126.08	N/A	N/A	3	0	65	33
2025-08-28	$41.24	$40.00	51.8%	14.9%	39.9%	23.1%	0.0%	13.0%	-10.8%	3.9K	-105.5K	-667	0.00	114.98	N/A	N/A	1	0	68	33
2025-08-29	$40.52	$40.00	37.5%	10.8%	39.6%	11.0%	0.0%	-1.2%	-13.4%	4.0K	-93.8K	-668	0.00	110.65	N/A	N/A	2	0	68	33