CQP Options History — February 2019

In February 2019, CQP traded between $40.86 and $44.95. ATM implied volatility averaged 28.1%, placing in the 45.4% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded below realized volatility by 2.0% (HV 20d: 30.0%). Max pain ranged from $38.00 to $40.00. Net GEX was positive for 16 of 19 trading days. Term structure was in contango for 4 of 19 days. Put/call ratio averaged 0.67.

Notable Days

2019-02-05: Highest Volume — 4,515 contracts
2019-02-27: Largest IV drop — 13.6% change
2019-02-07: Highest IV Rank — 59.2%
2019-02-07: Largest Expected Move — 9.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$42.45	$40.86	$44.95	$41.80	$44.95
Max Pain	$39.74	$38.00	$40.00	$38.00	$40.00
ATM IV	28.1%	23.3%	31.7%	24.7%	23.3%
Expected Move	8.1%	6.7%	9.1%	7.5%	6.7%
HV 20d	30.0%	24.0%	33.0%	33.0%	30.1%
HV 60d	29.6%	27.7%	31.8%	31.7%	29.4%
IV Rank	45.4%	27.1%	59.2%	32.6%	27.1%
IV Percentile	73.3%	50.8%	89.7%	60.7%	50.8%
Term Structure	-1.7%	-4.2%	1.6%	1.0%	1.6%
VWIV	29.7%	22.9%	37.3%	27.0%	22.9%
Skew 25d	3.9%	1.7%	5.3%	5.3%	1.7%
Skew 10d	12.9%	8.6%	23.5%	19.2%	11.1%
Call IV 25d	27.0%	22.9%	30.2%	24.2%	22.9%
Put IV 25d	30.9%	24.6%	34.2%	29.4%	24.6%
Bid-Ask Spread %	73.10	63.69	85.64	82.74	84.37
Gamma HHI	0.29	0.22	0.51	0.49	0.23
Net GEX	505.1K	-352.8K	1.1M	-352.8K	927.2K
Net DEX	-13.0M	-25.6M	-244.6K	-428.5K	-25.6M
Net VEX	-41.1K	-57.7K	-23.2K	-35.0K	-23.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.67	0.05	4.99	0.51	1.00
Total Volume	1,441.842	492	4,515	613	3,284
Total OI	12,226.316	8,051	14,174	8,418	12,499

Daily Data (19 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
2019-02-01	$41.80	$38.00	24.7%	7.5%	33.0%	32.6%	27.0%	5.3%	1.0%	-352.8K	-428.5K	-35.0K	0.51	82.74	406	207	2,034	6,384
2019-02-04	$42.43	$38.00	26.4%	7.3%	32.0%	39.1%	25.7%	3.5%	0.5%	-275.0K	-1.8M	-30.8K	0.23	80.54	401	91	2,069	6,394
2019-02-05	$42.35	$39.00	29.0%	8.7%	32.0%	49.1%	31.1%	4.1%	-3.7%	-308.6K	-244.6K	-29.9K	0.05	68.83	4,301	214	1,589	6,462
2019-02-06	$41.93	$40.00	30.0%	8.6%	32.0%	52.7%	31.7%	4.7%	-3.4%	158.5K	-7.8M	-47.9K	0.05	65.60	1,759	89	4,873	6,570
2019-02-07	$41.41	$40.00	31.7%	9.1%	32.5%	59.2%	32.4%	4.0%	-4.2%	295.0K	-8.6M	-54.4K	0.11	63.69	1,163	124	5,928	6,608
2019-02-08	$41.42	$40.00	30.6%	8.8%	32.5%	55.1%	31.4%	4.5%	-3.9%	418.2K	-10.7M	-57.7K	0.61	68.99	517	316	6,744	6,729
2019-02-11	$42.24	$40.00	29.5%	8.5%	32.5%	50.9%	31.0%	4.4%	-3.0%	563.1K	-14.6M	-52.8K	0.59	70.90	341	201	7,042	6,922
2019-02-12	$42.48	$40.00	29.1%	8.3%	32.4%	49.5%	31.3%	4.2%	-2.2%	606.3K	-16.8M	-49.1K	0.37	66.64	509	186	7,172	7,002
2019-02-13	$42.50	$40.00	29.0%	8.3%	29.1%	49.2%	29.8%	3.5%	-2.5%	606.3K	-16.4M	-47.8K	0.61	70.37	308	188	7,037	7,007
2019-02-14	$43.09	$40.00	28.1%	8.0%	28.1%	45.4%	29.4%	3.7%	-2.0%	692.3K	-19.3M	-42.8K	0.41	65.12	542	220	7,069	7,026
2019-02-15	$43.15	$40.00	27.5%	7.9%	28.1%	43.2%	28.9%	3.4%	-1.4%	767.7K	-17.2M	-46.7K	0.48	67.35	564	270	6,912	7,029
2019-02-19	$43.90	$40.00	26.9%	7.7%	28.2%	41.0%	32.6%	4.2%	-0.8%	535.2K	-20.1M	-34.0K	0.87	65.28	574	498	6,481	6,415
2019-02-20	$43.00	$40.00	27.9%	8.0%	24.0%	44.7%	37.3%	3.6%	-2.3%	548.2K	-16.3M	-38.5K	4.99	71.32	346	1,728	6,245	6,480
2019-02-21	$41.38	$40.00	30.0%	8.6%	28.3%	52.9%	33.0%	4.0%	-1.4%	619.0K	-10.4M	-42.3K	1.30	74.10	1,393	1,805	6,298	5,156
2019-02-22	$40.86	$40.00	28.3%	8.1%	28.9%	46.4%	28.2%	2.9%	-0.7%	767.6K	-9.2M	-44.1K	0.17	75.89	1,548	258	7,290	5,184
2019-02-25	$41.45	$40.00	30.0%	8.6%	28.5%	52.7%	29.4%	4.7%	-2.3%	894.9K	-11.6M	-41.4K	0.17	80.72	652	110	7,327	5,244
2019-02-26	$42.18	$40.00	27.5%	7.9%	28.8%	43.3%	28.3%	4.1%	-1.4%	1.1M	-15.6M	-35.6K	0.17	85.64	526	89	7,256	5,320
2019-02-27	$44.08	$40.00	23.8%	6.8%	29.6%	29.0%	23.6%	3.3%	0.7%	1.0M	-23.3M	-27.0K	0.14	80.72	1,463	204	7,187	5,316
2019-02-28	$44.95	$40.00	23.3%	6.7%	30.1%	27.1%	22.9%	1.7%	1.6%	927.2K	-25.6M	-23.2K	1.00	84.37	1,638	1,646	7,162	5,337