BHE Options History — October 2025

In October 2025, BHE traded between $36.33 and $43.86. ATM implied volatility averaged 65.0%, placing in the 29.9% IV rank vs the trailing year. The 30-day expected move averaged 14.8%. IV traded above realized volatility by 32.3% (HV 20d: 32.6%). Max pain ranged from $35.00 to $40.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 5 of 23 days. Put/call ratio averaged 1.61.

Notable Days

2025-10-22: Highest Volume — 40 contracts
2025-10-14: Largest IV spike — 117.4% change
2025-10-14: Highest IV Rank — 100.0%
2025-10-27: Largest Expected Move — 18.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$40.44	$36.33	$43.86	$38.39	$43.56
Max Pain	$35.24	$35.00	$40.00	$35.00	$40.00
ATM IV	65.0%	41.5%	169.7%	57.8%	58.4%
Expected Move	14.8%	10.0%	18.9%	16.6%	16.7%
HV 20d	32.6%	25.4%	38.1%	26.9%	36.0%
HV 60d	34.1%	32.4%	36.8%	32.4%	33.0%
IV Rank	29.9%	10.9%	100.0%	27.3%	22.7%
IV Percentile	64.6%	27.4%	100.0%	67.1%	65.5%
Term Structure	-7.5%	-22.6%	23.4%	-0.5%	-12.2%
VWIV	50.2%	39.8%	70.4%	50.7%	70.4%
Skew 25d	3.2%	-49.2%	181.1%	-49.2%	4.0%
Skew 10d	4.6%	-78.9%	182.8%	-78.9%	63.2%
Call IV 25d	62.6%	33.5%	83.9%	80.7%	78.9%
Put IV 25d	65.8%	27.5%	223.3%	31.5%	82.9%
Bid-Ask Spread %	118.50	103.29	126.94	105.00	124.80
Gamma HHI	0.34	0.23	0.47	0.32	0.23
Net GEX	4.4K	2.5K	7.1K	3.4K	3.8K
Net DEX	-137.1K	-283.2K	-50.1K	-53.1K	-185.6K
Net VEX	-1.0K	-1.5K	-655	-655	-1.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.61	0.00	9.00	0.00	0.07
Total Volume	8.609	0	40	23	2
Total OI	161.826	119	214	119	214

Daily Data (23 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
2025-10-01	$38.39	$35.00	57.8%	16.6%	26.9%	27.3%	0.0%	-49.2%	-0.5%	3.4K	-53.1K	-655	0.00	105.00	N/A	N/A	23	0	82	37
2025-10-02	$38.69	$35.00	47.3%	13.6%	25.4%	18.4%	0.0%	181.1%	5.3%	5.6K	-88.9K	-847	0.00	113.82	N/A	N/A	0	0	105	37
2025-10-03	$38.09	$35.00	41.5%	11.9%	25.7%	13.4%	0.0%	-21.8%	23.4%	5.2K	-103.0K	-878	0.00	103.29	N/A	N/A	1	0	105	37
2025-10-06	$38.62	$0.00	65.9%	14.5%	26.3%	34.3%	0.0%	-15.5%	-11.5%	5.3K	-113.4K	-917	0.00	116.20	N/A	N/A	2	0	106	37
2025-10-07	$37.37	$0.00	63.8%	13.6%	27.0%	32.5%	50.7%	3.7%	-10.0%	4.1K	-73.0K	-867	0.00	110.91	N/A	N/A	0	1	108	37
2025-10-08	$38.03	$35.00	71.5%	10.0%	26.7%	39.0%	39.8%	-0.8%	-5.7%	4.2K	-85.6K	-862	0.50	111.45	N/A	N/A	4	2	108	38
2025-10-09	$37.73	$35.00	68.0%	11.1%	26.4%	36.1%	0.0%	-2.5%	1.1%	4.5K	-80.8K	-884	0.00	115.91	N/A	N/A	30	0	110	40
2025-10-10	$36.33	$35.00	122.8%	15.3%	28.6%	82.9%	0.0%	2.6%	4.0%	3.3K	-50.1K	-852	1.00	122.17	N/A	N/A	1	1	120	40
2025-10-13	$36.94	$35.00	78.0%	15.6%	29.4%	44.7%	0.0%	-14.7%	-13.6%	4.7K	-69.4K	-889	0.50	125.56	N/A	N/A	2	1	121	41
2025-10-14	$37.72	$35.00	169.7%	14.6%	30.6%	100.0%	0.0%	-8.2%	-9.2%	5.1K	-87.7K	-910	0.00	124.56	N/A	N/A	7	0	123	42
2025-10-15	$40.07	$35.00	51.8%	14.9%	37.8%	18.1%	0.0%	2.5%	-22.6%	6.3K	-182.4K	-1.0K	0.00	121.39	N/A	N/A	0	0	130	42
2025-10-16	$41.52	$35.00	50.6%	14.5%	37.7%	17.3%	42.4%	16.9%	-12.2%	7.1K	-223.0K	-1.0K	0.00	121.86	N/A	N/A	4	0	130	42
2025-10-17	$41.93	$35.00	47.9%	13.7%	37.5%	15.4%	0.0%	1.9%	-5.6%	5.0K	-283.2K	-1.0K	0.00	122.17	N/A	N/A	12	0	132	42
2025-10-20	$42.80	$35.00	49.2%	14.1%	38.0%	16.2%	0.0%	-4.9%	-12.2%	5.3K	-192.8K	-1.0K	0.00	120.58	N/A	N/A	16	0	102	32
2025-10-21	$42.58	$35.00	54.4%	15.6%	38.1%	19.9%	0.0%	-7.1%	-22.4%	5.3K	-181.9K	-998	0.00	118.60	N/A	N/A	0	1	102	32
2025-10-22	$42.35	$35.00	52.2%	15.0%	37.4%	18.4%	0.0%	-3.1%	-9.7%	5.5K	-176.5K	-973	9.00	121.65	N/A	N/A	4	36	102	33
2025-10-23	$42.84	$35.00	41.5%	11.9%	35.5%	10.9%	0.0%	6.8%	14.3%	2.9K	-148.9K	-1.2K	4.00	120.07	N/A	N/A	2	8	99	69
2025-10-24	$42.36	$35.00	58.6%	16.8%	35.9%	22.8%	50.5%	-2.9%	-15.1%	3.2K	-142.3K	-1.3K	1.00	113.83	N/A	N/A	2	2	101	77
2025-10-27	$42.41	$35.00	66.1%	18.9%	35.1%	28.0%	50.8%	7.6%	-12.9%	3.0K	-140.8K	-1.3K	8.00	122.54	N/A	N/A	1	8	103	79
2025-10-28	$42.46	$35.00	64.7%	18.6%	35.2%	27.1%	47.1%	-17.4%	-10.6%	2.5K	-138.2K	-1.4K	4.00	122.03	N/A	N/A	1	4	104	87
2025-10-29	$43.86	$35.00	54.8%	15.7%	36.4%	20.2%	0.0%	2.8%	-16.4%	3.8K	-183.5K	-1.4K	1.00	126.94	N/A	N/A	2	2	104	91
2025-10-30	$43.49	$35.00	57.7%	16.6%	36.8%	22.2%	70.4%	-9.4%	-18.1%	3.1K	-170.2K	-1.4K	0.07	120.14	N/A	N/A	15	1	106	93
2025-10-31	$43.56	$40.00	58.4%	16.7%	36.0%	22.7%	0.0%	4.0%	-12.2%	3.8K	-185.6K	-1.5K	0.00	124.80	N/A	N/A	0	2	120	94