EMLP Options History — March 2015

In March 2015, EMLP traded between $26.09 and $27.36. ATM implied volatility averaged 96.6%, placing in the 40.8% IV rank vs the trailing year. The 30-day expected move averaged 24.7%. IV traded above realized volatility by 81.3% (HV 20d: 15.4%). Max pain ranged from $30.00 to $30.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 0 of 22 days. Put/call ratio averaged 0.15.

Notable Days

2015-03-02: Highest Volume — 29 contracts
2015-03-11: Largest IV drop — 47.7% change
2015-03-10: Highest IV Rank — 64.1%
2015-03-04: Largest Expected Move — 31.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$26.77	$26.09	$27.36	$27.17	$26.83
Max Pain	$30.00	$30.00	$30.00	$30.00	$30.00
ATM IV	96.6%	74.7%	142.8%	102.9%	106.6%
Expected Move	24.7%	19.1%	31.3%	29.5%	30.6%
HV 20d	15.4%	12.3%	17.4%	16.8%	16.2%
HV 60d	17.3%	15.9%	18.7%	18.7%	16.5%
IV Rank	40.8%	29.7%	64.1%	44.0%	45.8%
IV Percentile	59.4%	22.9%	93.4%	72.6%	74.9%
Term Structure	-32.9%	-41.8%	-24.0%	-36.3%	-41.8%
VWIV	123.6%	120.7%	128.3%	120.7%	128.3%
Skew 25d	10.9%	-6.6%	27.0%	25.1%	12.0%
Skew 10d	39.6%	29.0%	74.2%	74.2%	43.1%
Call IV 25d	115.5%	89.6%	145.8%	124.2%	145.8%
Put IV 25d	126.3%	83.0%	158.8%	149.4%	157.7%
Bid-Ask Spread %	153.36	148.99	176.26	174.61	150.90
Gamma HHI	0.79	0.52	1.00	0.55	1.00
Net GEX	588	442	861	856	446
Net DEX	-15.3K	-20.7K	-11.3K	-18.7K	-13.8K
Net VEX	-132	-149	-122	-147	-125
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.15	0.12	0.21	0.12	0.21
Total Volume	8.909	0	29	29	17
Total OI	21.091	17	23	23	17

Daily Data (22 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 Vol	Put Vol	Call OI	Put OI
2015-03-02	$27.17	$30.00	102.9%	29.5%	16.8%	44.0%	120.7%	25.1%	-36.3%	856	-18.7K	-147	0.12	174.61	26	3	20	3
2015-03-03	$27.36	$30.00	105.5%	30.2%	16.6%	45.2%	121.9%	27.0%	-37.5%	861	-19.7K	-149	0.12	176.26	26	3	20	3
2015-03-04	$27.14	$30.00	109.2%	31.3%	15.7%	47.2%	128.3%	26.6%	-41.1%	847	-18.7K	-145	0.12	176.24	26	3	20	3
2015-03-05	$27.26	$0.00	112.5%	19.1%	15.0%	48.8%	0.0%	-6.6%	-24.0%	736	-20.7K	-147	0.12	149.65	26	3	20	3
2015-03-06	$26.67	$0.00	117.7%	19.5%	15.5%	51.4%	0.0%	7.3%	-26.3%	709	-18.2K	-142	0.12	149.79	26	3	20	3
2015-03-09	$26.52	$0.00	133.1%	20.3%	13.7%	59.2%	0.0%	7.9%	-28.9%	697	-17.6K	-139	0.00	149.08	0	0	20	3
2015-03-10	$26.37	$0.00	142.8%	21.0%	13.6%	64.1%	0.0%	7.6%	-27.9%	691	-16.9K	-134	0.00	149.31	0	0	20	3
2015-03-11	$26.16	$0.00	74.7%	21.4%	12.8%	29.7%	0.0%	7.9%	-29.4%	676	-16.1K	-133	0.00	148.99	0	0	20	3
2015-03-12	$26.36	$0.00	75.4%	21.6%	12.9%	30.1%	0.0%	8.1%	-29.5%	744	-15.4K	-135	0.00	150.03	0	0	20	3
2015-03-13	$26.09	$0.00	76.9%	22.1%	12.3%	30.8%	0.0%	8.1%	-31.3%	719	-14.3K	-129	0.00	149.93	0	0	20	3
2015-03-16	$26.27	$0.00	80.3%	23.0%	12.8%	32.5%	0.0%	8.6%	-33.5%	445	-11.3K	-122	0.00	149.06	0	0	20	3
2015-03-17	$26.46	$0.00	81.2%	23.3%	13.3%	33.0%	0.0%	8.8%	-33.7%	451	-11.8K	-126	0.00	149.14	0	0	20	3
2015-03-18	$27.10	$0.00	80.0%	22.9%	16.1%	32.4%	0.0%	8.7%	-35.0%	464	-13.9K	-130	0.00	150.36	0	0	20	3
2015-03-19	$26.80	$0.00	81.8%	23.4%	16.5%	33.3%	0.0%	9.7%	-37.4%	458	-12.9K	-126	0.00	150.23	0	0	20	3
2015-03-20	$27.05	$0.00	82.9%	23.8%	16.9%	33.9%	0.0%	9.7%	-37.6%	442	-13.9K	-129	0.00	149.42	0	0	20	3
2015-03-23	$27.23	$0.00	87.6%	25.1%	17.1%	36.2%	0.0%	10.0%	-27.4%	454	-14.4K	-128	0.00	150.20	0	0	14	3
2015-03-24	$27.05	$0.00	89.4%	25.6%	17.2%	37.1%	0.0%	10.4%	-28.5%	446	-14.5K	-128	0.00	150.19	0	0	14	3
2015-03-25	$26.79	$0.00	91.7%	26.3%	17.4%	38.3%	0.0%	10.1%	-30.8%	449	-13.6K	-127	0.00	150.31	0	0	14	3
2015-03-26	$26.72	$0.00	93.8%	26.9%	16.5%	39.4%	0.0%	10.2%	-32.5%	446	-13.4K	-124	0.21	149.89	14	3	14	3
2015-03-27	$26.70	$0.00	96.1%	27.5%	16.4%	40.5%	0.0%	10.4%	-34.2%	442	-13.4K	-124	0.00	150.75	0	0	14	3
2015-03-30	$26.91	$0.00	103.5%	29.7%	16.4%	44.2%	0.0%	11.8%	-39.1%	448	-14.0K	-125	0.21	149.64	14	3	14	3
2015-03-31	$26.83	$0.00	106.6%	30.6%	16.2%	45.8%	0.0%	12.0%	-41.8%	446	-13.8K	-125	0.21	150.90	14	3	14	3