CQP Options History — December 2018

In December 2018, CQP traded between $35.82 and $38.23. ATM implied volatility averaged 31.7%, placing in the 59.5% IV rank vs the trailing year. The 30-day expected move averaged 8.9%. IV traded above realized volatility by 2.0% (HV 20d: 29.7%). Max pain ranged from $35.00 to $38.00. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 14 of 20 days. Put/call ratio averaged 0.76.

Notable Days

2018-12-28: Highest Volume — 700 contracts
2018-12-24: Largest IV spike — 16.0% change
2018-12-24: Highest IV Rank — 76.0%
2018-12-24: Largest Expected Move — 10.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$37.06	$35.82	$38.23	$38.23	$36.02
Max Pain	$36.30	$35.00	$38.00	$38.00	$36.00
ATM IV	31.7%	27.1%	36.0%	29.1%	32.1%
Expected Move	8.9%	7.8%	10.3%	8.3%	9.2%
HV 20d	29.7%	23.5%	36.2%	35.0%	23.6%
HV 60d	27.8%	26.8%	29.1%	26.8%	29.1%
IV Rank	59.5%	41.9%	76.0%	49.5%	60.8%
IV Percentile	91.8%	81.3%	97.2%	90.1%	92.1%
Term Structure	4.6%	-3.7%	24.5%	-0.4%	1.7%
VWIV	31.3%	26.9%	35.0%	31.5%	31.6%
Skew 25d	4.8%	0.3%	8.6%	0.3%	4.7%
Skew 10d	13.2%	-2.9%	19.6%	18.8%	15.8%
Call IV 25d	30.0%	26.9%	34.4%	29.3%	30.8%
Put IV 25d	34.8%	29.6%	42.1%	29.6%	35.6%
Bid-Ask Spread %	85.92	73.34	108.89	106.19	82.50
Gamma HHI	0.71	0.59	0.80	0.74	0.59
Net GEX	-980.4K	-1.9M	-376.8K	-1.1M	-472.9K
Net DEX	13.8M	10.4M	18.8M	10.9M	12.0M
Net VEX	-55.9K	-69.1K	-43.6K	-69.1K	-44.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.76	0.13	2.00	0.86	0.82
Total Volume	244.3	40	700	128	102
Total OI	11,458.75	7,262	13,170	12,632	7,723

Daily Data (20 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
2018-12-03	$38.23	$38.00	29.1%	8.3%	35.0%	49.5%	31.5%	0.3%	-0.4%	-1.1M	10.9M	-69.1K	0.86	106.19	69	59	2,682	9,950
2018-12-04	$37.49	$38.00	32.1%	9.2%	36.0%	61.0%	31.8%	5.1%	-3.7%	-1.1M	13.5M	-67.6K	0.80	106.97	80	64	2,672	9,950
2018-12-05	$37.62	$38.00	31.1%	8.9%	36.0%	57.2%	32.0%	4.6%	-2.8%	-1.0M	13.4M	-67.2K	0.80	108.89	80	64	2,672	9,950
2018-12-06	$37.18	$36.00	34.8%	9.5%	36.2%	71.4%	32.8%	6.6%	6.0%	-932.6K	15.2M	-64.7K	0.60	79.14	25	15	2,670	9,960
2018-12-07	$37.47	$36.00	32.0%	8.2%	34.6%	60.4%	29.6%	3.9%	-1.5%	-994.8K	11.9M	-64.9K	0.78	87.75	74	58	2,682	9,970
2018-12-10	$37.01	$37.00	34.6%	9.1%	35.0%	70.4%	34.8%	4.7%	-3.3%	-1.0M	15.7M	-61.5K	0.48	73.70	44	21	2,707	9,985
2018-12-11	$36.99	$37.00	33.2%	8.6%	34.9%	65.2%	32.0%	4.2%	3.3%	-1.1M	16.2M	-60.4K	0.21	73.34	100	21	2,721	10,006
2018-12-12	$37.12	$37.00	29.7%	8.5%	33.4%	51.6%	31.2%	4.7%	5.1%	-1.2M	15.9M	-59.6K	0.41	83.39	98	40	2,724	10,006
2018-12-13	$37.73	$35.00	27.6%	7.9%	33.6%	43.7%	26.9%	4.1%	5.3%	-1.4M	13.6M	-59.9K	0.42	73.50	127	53	2,788	10,013
2018-12-14	$38.14	$35.00	27.1%	7.8%	25.9%	41.9%	28.2%	2.9%	11.9%	-1.4M	10.4M	-59.6K	0.34	78.73	186	63	2,806	10,017
2018-12-17	$37.10	$35.00	29.4%	8.4%	27.8%	50.4%	30.2%	3.0%	0.9%	-1.3M	16.1M	-54.8K	1.02	75.73	50	51	2,823	10,027
2018-12-18	$36.84	$35.00	30.2%	8.7%	27.9%	53.7%	30.1%	4.9%	12.4%	-1.1M	16.0M	-53.2K	1.42	78.73	57	81	2,843	10,044
2018-12-19	$37.79	$35.00	28.8%	8.2%	27.0%	48.1%	28.4%	5.3%	9.8%	-1.9M	12.4M	-53.6K	0.74	91.70	110	81	2,839	10,056
2018-12-20	$37.42	$35.00	30.5%	8.7%	25.7%	54.6%	28.8%	3.9%	3.3%	-1.8M	16.6M	-50.9K	0.13	85.37	390	49	2,816	10,061
2018-12-21	$37.17	$36.00	31.1%	8.9%	23.5%	56.9%	28.1%	7.4%	0.1%	-442.1K	18.8M	-48.3K	0.26	87.36	410	106	3,101	10,069
2018-12-24	$35.94	$37.00	36.0%	10.3%	26.5%	76.0%	34.5%	8.6%	14.4%	-376.8K	11.0M	-44.5K	1.21	87.11	150	181	1,355	5,907
2018-12-26	$36.28	$37.00	35.8%	10.3%	24.0%	75.2%	33.5%	7.1%	24.5%	-422.5K	11.3M	-45.3K	2.00	79.90	122	244	1,401	6,007
2018-12-27	$35.82	$37.00	34.0%	9.8%	23.8%	68.2%	34.0%	6.1%	6.7%	-418.7K	12.3M	-43.6K	0.93	83.66	343	318	1,461	6,076
2018-12-28	$35.86	$36.00	35.5%	10.2%	23.6%	74.0%	35.0%	4.0%	-2.3%	-420.5K	11.7M	-44.8K	1.01	94.71	348	352	1,515	6,120
2018-12-31	$36.02	$36.00	32.1%	9.2%	23.6%	60.8%	31.6%	4.7%	1.7%	-472.9K	12.0M	-44.0K	0.82	82.50	56	46	1,549	6,174