BHE Options History — January 2026

In January 2026, BHE traded between $43.82 and $52.01. ATM implied volatility averaged 64.3%, placing in the 29.6% IV rank vs the trailing year. The 30-day expected move averaged 13.8%. IV traded above realized volatility by 33.1% (HV 20d: 31.2%). Max pain ranged from $40.00 to $45.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 0 of 20 days. Put/call ratio averaged 1.23.

Notable Days

  • 2026-01-20: Highest Volume — 1,369 contracts
  • 2026-01-13: Largest IV drop — 45.6% change
  • 2026-01-12: Highest IV Rank — 71.1%
  • 2026-01-28: Largest Expected Move — 17.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$47.95$43.82$52.01$43.82$52.01
Max Pain$44.75$40.00$45.00$40.00$45.00
ATM IV64.3%40.9%126.4%59.6%53.7%
Expected Move13.8%11.1%17.4%17.1%15.4%
HV 20d31.2%25.7%35.2%31.1%33.0%
HV 60d35.3%33.6%36.5%36.5%36.4%
IV Rank29.6%13.9%71.1%26.4%22.5%
IV Percentile62.8%25.0%98.8%67.5%52.0%
Term Structure-15.6%-29.0%-3.0%-15.3%-5.5%
VWIV49.2%28.8%64.5%49.4%54.4%
Skew 25d16.7%-14.5%63.2%63.2%-9.8%
Skew 10d14.1%-22.5%63.8%47.8%-4.1%
Call IV 25d55.3%29.3%68.1%33.5%66.6%
Put IV 25d71.9%45.8%96.7%96.7%56.8%
Bid-Ask Spread %119.55111.46125.96125.96119.67
Gamma HHI0.630.270.950.360.94
Net GEX165.1K4.5K409.9K11.5K379.6K
Net DEX-2.4M-6.8M-195.9K-195.9K-6.8M
Net VEX-11.6K-28.2K-2.2K-2.9K-26.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.230.0014.500.000.00
Total Volume7401,369214
Total OI1,719.34513,3046613,304

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-01-02$43.82$40.0059.6%17.1%31.1%26.4%0.0%63.2%-15.3%11.5K-195.9K-2.9K0.00125.96N/AN/A20363298
2026-01-05$44.31$45.0070.3%12.4%31.4%33.6%0.0%14.5%-19.8%15.5K-258.8K-2.7K0.00118.24N/AN/A00365298
2026-01-06$45.08$45.0080.9%11.2%32.1%40.7%0.0%9.0%-13.2%15.7K-373.9K-2.3K0.00120.02N/AN/A00365298
2026-01-07$44.37$45.0085.8%11.8%32.2%43.9%0.0%13.8%-16.1%14.4K-283.8K-2.6K0.00123.00N/AN/A00365298
2026-01-08$44.09$45.0091.1%11.6%32.2%47.5%0.0%-9.7%-4.3%15.6K-277.5K-2.8K0.00118.68N/AN/A310365298
2026-01-09$44.92$45.0096.8%11.1%28.2%51.3%0.0%0.0%-12.0%19.7K-342.8K-3.2K0.00123.06N/AN/A30396298
2026-01-12$45.80$45.00126.4%11.9%29.4%71.1%49.4%13.9%-18.9%27.2K-400.1K-2.4K1.00120.99N/AN/A11399298
2026-01-13$47.34$45.0068.7%14.8%30.7%32.5%40.7%-14.5%-29.0%43.9K-580.9K-2.2K0.50118.93N/AN/A42400299
2026-01-14$47.77$45.0040.9%11.7%30.8%13.9%28.8%26.6%-11.6%55.5K-618.3K-2.4K0.00118.09N/AN/A70404301
2026-01-15$49.47$45.0045.6%13.1%30.1%17.1%0.0%12.2%-14.0%221.3K-768.5K-2.3K14.50118.44N/AN/A229411301
2026-01-16$49.40$45.0042.1%12.1%25.7%14.7%0.0%27.1%-11.8%4.5K-546.6K-2.2K0.00121.58N/AN/A00413330
2026-01-20$49.50$45.0050.3%14.4%25.7%20.2%0.0%38.6%-19.0%5.3K-239.4K-2.5K0.00115.66N/AN/A1,3690159292
2026-01-21$51.64$45.0046.9%13.4%28.8%17.9%0.0%14.9%-3.0%344.5K-6.3M-28.2K0.00119.70N/AN/A402,998292
2026-01-22$50.97$45.0053.7%15.4%29.7%22.5%0.0%19.3%-15.1%409.9K-5.9M-27.0K0.00118.11N/AN/A203,002292
2026-01-23$48.86$45.0049.2%14.1%34.4%19.5%0.0%-11.3%-17.5%340.4K-4.4M-23.3K0.00122.38N/AN/A003,003292
2026-01-26$49.25$45.0053.6%15.4%34.4%22.4%0.0%16.5%-21.9%325.9K-4.3M-23.4K0.00119.89N/AN/A103,003292
2026-01-27$49.14$45.0052.6%15.1%34.4%21.7%0.0%52.2%-26.2%350.7K-4.5M-23.7K0.00119.04N/AN/A003,004292
2026-01-28$49.56$45.0060.7%17.4%34.1%27.2%64.5%34.9%-21.6%335.6K-4.8M-23.4K0.00111.46N/AN/A603,004292
2026-01-29$51.65$45.0056.9%16.3%35.2%24.6%57.4%21.7%-16.7%365.2K-6.1M-26.2K0.00118.03N/AN/A023,010292
2026-01-30$52.01$45.0053.7%15.4%33.0%22.5%54.4%-9.8%-5.5%379.6K-6.8M-26.7K0.00119.67N/AN/A1403,010294