EMLP Options History — September 2015

In September 2015, EMLP traded between $20.95 and $23.27. ATM implied volatility averaged 107.1%, placing in the 45.2% IV rank vs the trailing year. The 30-day expected move averaged 28.1%. IV traded above realized volatility by 81.1% (HV 20d: 26.1%). Max pain ranged from $23.00 to $28.00. Net GEX was positive for 7 of 21 trading days. Term structure was in contango for 0 of 21 days. Put/call ratio averaged 1.40.

Notable Days

2015-09-01: Highest Volume — 47 contracts
2015-09-29: Largest IV spike — 67.1% change
2015-09-08: Highest IV Rank — 73.5%
2015-09-29: Largest Expected Move — 39.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$22.62	$20.95	$23.27	$23.16	$21.89
Max Pain	$23.48	$23.00	$28.00	$28.00	$23.00
ATM IV	107.1%	73.5%	162.2%	124.7%	135.4%
Expected Move	28.1%	21.1%	39.5%	35.8%	38.8%
HV 20d	26.1%	20.6%	28.2%	28.1%	28.2%
HV 60d	20.5%	19.7%	24.1%	19.7%	24.1%
IV Rank	45.2%	28.0%	73.5%	54.3%	59.7%
IV Percentile	64.9%	17.5%	98.0%	84.9%	88.5%
Term Structure	-41.9%	-60.2%	-28.2%	-45.4%	-60.2%
VWIV	100.8%	77.9%	159.3%	152.6%	116.4%
Skew 25d	8.6%	-23.9%	14.8%	14.8%	2.4%
Skew 10d	46.4%	36.5%	55.4%	55.4%	36.5%
Call IV 25d	142.7%	114.3%	187.2%	170.3%	185.2%
Put IV 25d	151.2%	122.0%	192.5%	185.1%	187.6%
Bid-Ask Spread %	150.95	148.78	151.99	148.78	151.20
Gamma HHI	0.40	0.35	0.47	0.35	0.43
Net GEX	-8	-309	371	362	-157
Net DEX	12.5K	3.3K	18.9K	3.9K	13.4K
Net VEX	-118	-161	-80	-161	-89
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.40	0.96	2.00	0.96	2.00
Total Volume	36.048	0	47	47	30
Total OI	46.524	36	53	53	36

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 Vol	Put Vol	Call OI	Put OI
2015-09-01	$23.16	$28.00	124.7%	35.8%	28.1%	54.3%	152.6%	14.8%	-45.4%	362	3.9K	-161	0.96	148.78	24	23	30	23
2015-09-02	$23.09	$28.00	128.8%	36.9%	27.6%	56.3%	159.3%	14.3%	-48.7%	360	4.2K	-159	0.96	149.52	24	23	30	23
2015-09-03	$23.27	$23.00	132.4%	22.4%	27.8%	58.2%	78.6%	6.3%	-28.2%	362	3.3K	-158	0.96	151.13	24	23	30	23
2015-09-04	$23.03	$23.00	137.9%	22.8%	28.0%	61.0%	77.9%	5.1%	-29.8%	371	4.5K	-153	0.96	150.20	24	23	30	23
2015-09-08	$23.24	$23.00	162.2%	23.9%	27.6%	73.5%	0.0%	9.5%	-32.2%	267	9.4K	-141	0.00	150.30	0	0	30	23
2015-09-09	$22.88	$23.00	85.1%	24.4%	28.0%	33.9%	82.0%	9.7%	-34.5%	192	13.2K	-134	0.96	151.54	24	23	30	23
2015-09-10	$22.77	$23.00	86.5%	24.8%	26.6%	34.6%	82.3%	9.7%	-35.9%	199	11.5K	-136	0.96	151.32	24	23	30	23
2015-09-11	$22.50	$23.00	90.4%	25.9%	26.6%	36.6%	81.4%	10.0%	-35.3%	-136	18.6K	-114	0.96	151.55	24	23	30	23
2015-09-14	$22.45	$23.00	94.7%	27.1%	26.3%	38.9%	84.8%	10.7%	-38.8%	-137	18.9K	-111	0.96	150.16	24	23	30	23
2015-09-15	$22.58	$23.00	93.6%	26.8%	26.1%	38.3%	0.0%	10.5%	-42.5%	-134	18.4K	-112	0.00	150.70	0	0	30	23
2015-09-16	$22.91	$23.00	94.6%	27.1%	27.0%	38.8%	91.4%	10.7%	-42.2%	-111	17.2K	-115	0.96	151.37	24	23	30	23
2015-09-17	$23.09	$23.00	95.9%	27.5%	27.2%	39.5%	94.5%	11.6%	-42.7%	-87	16.5K	-114	0.96	151.22	24	23	30	23
2015-09-18	$22.94	$23.00	97.9%	28.1%	26.8%	40.5%	94.9%	11.0%	-44.9%	-113	17.2K	-112	0.96	151.08	24	23	30	23
2015-09-21	$23.15	$23.00	103.3%	29.6%	26.4%	43.3%	102.5%	12.0%	-36.9%	-100	9.6K	-109	2.00	150.81	10	20	16	20
2015-09-22	$22.89	$23.00	105.7%	30.3%	22.5%	44.5%	102.0%	11.8%	-39.5%	-121	10.7K	-107	2.00	150.63	10	20	16	20
2015-09-23	$22.18	$23.00	112.1%	32.1%	25.0%	47.8%	99.9%	12.3%	-40.7%	-141	12.4K	-100	2.00	151.55	10	20	16	20
2015-09-24	$22.15	$23.00	73.5%	21.1%	24.4%	28.0%	101.9%	11.9%	-42.8%	-272	13.3K	-98	2.00	151.83	10	20	16	20
2015-09-25	$22.29	$23.00	74.9%	21.5%	20.6%	28.7%	105.7%	-23.9%	-44.0%	-309	13.1K	-97	2.00	151.13	10	20	16	20
2015-09-28	$21.54	$23.00	82.3%	23.6%	22.5%	32.5%	105.5%	14.5%	-56.2%	-275	15.8K	-87	2.00	151.99	10	20	16	20
2015-09-29	$20.95	$23.00	137.6%	39.5%	23.9%	60.9%	100.9%	5.3%	-59.2%	-184	16.7K	-80	2.00	151.85	10	20	16	20
2015-09-30	$21.89	$23.00	135.4%	38.8%	28.2%	59.7%	116.4%	2.4%	-60.2%	-157	13.4K	-89	2.00	151.20	10	20	16	20