BHE Options History — February 2026

In February 2026, BHE traded between $53.84 and $60.41. ATM implied volatility averaged 47.8%, placing in the 18.5% IV rank vs the trailing year. The 30-day expected move averaged 12.6%. IV traded above realized volatility by 13.5% (HV 20d: 34.2%). Max pain ranged from $45.00 to $55.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 3 of 19 days. Put/call ratio averaged 0.46.

Notable Days

  • 2026-02-12: Highest Volume — 1,703 contracts
  • 2026-02-11: Largest IV drop — 41.4% change
  • 2026-02-10: Highest IV Rank — 27.7%
  • 2026-02-02: Largest Expected Move — 17.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$57.87$53.84$60.41$53.84$57.66
Max Pain$52.63$45.00$55.00$45.00$55.00
ATM IV47.8%36.1%61.6%60.6%43.4%
Expected Move12.6%10.3%17.4%17.4%12.4%
HV 20d34.2%29.7%37.1%33.7%32.3%
HV 60d32.8%31.4%36.9%36.9%32.6%
IV Rank18.5%10.7%27.7%27.1%15.6%
IV Percentile37.9%12.3%70.2%68.3%27.4%
Term Structure-8.0%-20.3%15.2%-16.5%-10.3%
VWIV34.8%24.6%44.9%29.7%24.6%
Skew 25d7.2%-5.4%35.1%2.0%35.1%
Skew 10d6.6%-17.1%17.7%9.3%8.6%
Call IV 25d53.0%24.8%77.2%73.0%24.8%
Put IV 25d60.2%46.6%80.1%75.1%59.9%
Bid-Ask Spread %117.22106.45122.72121.73121.05
Gamma HHI0.910.650.970.960.65
Net GEX257.2K149.6K413.9K413.9K207.9K
Net DEX-7.2M-10.1M-4.3M-8.1M-5.5M
Net VEX-14.3K-27.1K-6.4K-26.8K-7.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.460.004.670.000.00
Total Volume161.31601,703212
Total OI2,168.8421,4673,3193,3181,706

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-02-02$53.84$45.0060.6%17.4%33.7%27.1%0.0%2.0%-16.5%413.9K-8.1M-26.8K0.00121.73N/AN/A203,024294
2026-02-03$55.55$45.0053.7%15.4%34.5%22.5%29.7%2.9%15.2%384.9K-9.7M-27.1K0.00112.32N/AN/A1303,025294
2026-02-04$56.09$45.0054.8%15.7%34.4%23.2%0.0%1.9%-16.6%401.4K-9.9M-24.9K0.00106.45N/AN/A1,00702,855294
2026-02-05$55.89$55.0055.8%11.4%33.4%23.9%0.0%-5.4%-5.2%360.2K-8.2M-20.7K0.00116.20N/AN/A002,359294
2026-02-06$58.77$55.0049.9%11.8%35.4%19.9%0.0%7.3%-10.4%308.2K-9.7M-19.6K1.29116.21N/AN/A792,352294
2026-02-09$58.97$55.0060.2%11.3%35.6%26.8%0.0%4.6%-2.5%322.0K-10.1M-18.7K4.67117.15N/AN/A3142,347303
2026-02-10$58.41$55.0061.6%10.7%36.4%27.7%0.0%0.3%-6.4%326.5K-10.0M-18.2K0.00121.28N/AN/A002,348317
2026-02-11$58.83$55.0036.1%10.3%35.6%10.7%0.0%0.1%-4.7%330.2K-10.1M-18.5K0.00121.38N/AN/A012,348317
2026-02-12$58.11$55.0037.4%10.7%36.5%11.6%0.0%-0.1%-5.0%314.9K-9.9M-18.2K0.00121.35N/AN/A1,70302,348318
2026-02-13$59.15$55.0039.5%11.3%35.5%13.0%27.4%2.1%-5.3%149.6K-5.3M-7.9K0.00115.76N/AN/A201,171318
2026-02-17$58.11$55.0042.6%12.2%36.5%15.1%0.0%6.6%-15.5%151.6K-4.8M-8.5K0.00118.13N/AN/A001,169318
2026-02-18$57.48$55.0044.5%12.8%37.1%16.4%0.0%4.0%0.8%153.4K-4.4M-8.9K0.00121.00N/AN/A001,169318
2026-02-19$57.14$55.0043.7%12.5%35.0%15.8%0.0%2.7%1.3%159.4K-4.3M-8.8K0.00122.72N/AN/A001,169318
2026-02-20$58.17$55.0041.2%11.8%34.6%14.2%0.0%-0.0%-6.4%164.7K-4.9M-7.9K0.00120.84N/AN/A101,169318
2026-02-23$57.97$55.0044.1%12.6%29.7%16.1%43.4%5.8%-17.5%161.6K-4.6M-7.8K0.00121.99N/AN/A101,159308
2026-02-24$59.85$50.0050.0%14.3%30.8%20.0%40.2%23.0%-20.3%151.2K-5.5M-6.4K0.00107.15N/AN/A24601,160308
2026-02-25$60.41$50.0042.5%12.2%30.5%15.0%44.9%20.1%-8.4%216.9K-6.0M-7.5K0.00111.21N/AN/A2301,398308
2026-02-26$59.11$50.0045.9%13.1%32.6%17.2%33.2%24.0%-18.5%208.1K-5.6M-7.9K0.00113.33N/AN/A2101,385308
2026-02-27$57.66$55.0043.4%12.4%32.3%15.6%24.6%35.1%-10.3%207.9K-5.5M-7.5K0.00121.05N/AN/A1201,398308