EPP Options History — October 2008

In October 2008, EPP traded between $22.05 and $35.86. ATM implied volatility averaged 84.6%, placing in the 61.1% IV rank vs the trailing year. The 30-day expected move averaged 21.0%. IV traded below realized volatility by 12.5% (HV 20d: 97.1%). Max pain ranged from $30.00 to $40.00. Net GEX was positive for 0 of 23 trading days. Term structure was in contango for 2 of 23 days. Put/call ratio averaged 2.08.

Notable Days

2008-10-24: Highest Volume — 146 contracts
2008-10-15: Largest IV spike — 136.6% change
2008-10-06: Highest IV Rank — 100.0%
2008-10-27: Largest Expected Move — 25.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$27.80	$22.05	$35.86	$35.86	$26.38
Max Pain	$33.70	$30.00	$40.00	$40.00	$30.00
ATM IV	84.6%	55.8%	193.9%	65.2%	81.3%
Expected Move	21.0%	16.0%	25.6%	18.7%	23.3%
HV 20d	97.1%	72.5%	118.1%	72.5%	118.1%
HV 60d	64.2%	45.5%	80.5%	45.5%	80.4%
IV Rank	61.1%	20.9%	100.0%	90.5%	35.5%
IV Percentile	97.0%	89.8%	100.0%	99.3%	92.8%
Term Structure	-8.3%	-20.2%	5.6%	-6.6%	-10.7%
VWIV	70.0%	57.7%	89.2%	57.7%	89.2%
Skew 25d	9.3%	1.2%	28.0%	7.2%	6.9%
Skew 10d	17.7%	-0.8%	37.2%	27.9%	12.3%
Call IV 25d	64.3%	49.5%	94.3%	62.4%	66.3%
Put IV 25d	73.6%	61.6%	99.3%	69.6%	73.2%
Bid-Ask Spread %	72.25	43.59	118.42	64.75	96.42
Gamma HHI	0.93	0.84	0.98	0.98	0.84
Net GEX	-645.2K	-2.4M	-185.3K	-2.4M	-272.9K
Net DEX	93.7M	65.9M	114.3M	103.7M	78.8M
Net VEX	-87.3K	-247.3K	-34.2K	-247.3K	-39.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.08	0.00	10.33	0.20	1.10
Total Volume	50.13	0	146	20	21
Total OI	38,535.739	32,549	42,938	42,893	33,099

Daily Data (23 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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2008-10-01	$35.86	$40.00	65.2%	18.7%	72.5%	90.5%	57.7%	7.2%	-6.6%	-2.4M	103.7M	-247.3K	0.00	64.75	N/A	N/A	0	20	1,019	41,874
2008-10-02	$33.70	$40.00	66.9%	19.2%	73.3%	93.7%	0.0%	3.8%	-8.1%	-1.7M	110.5M	-192.2K	0.00	71.34	N/A	N/A	0	63	1,019	41,884
2008-10-03	$33.30	$40.00	66.8%	19.2%	73.2%	93.7%	66.9%	16.4%	-10.1%	-1.7M	111.2M	-190.3K	0.20	74.30	N/A	N/A	56	11	1,019	41,865
2008-10-06	$29.95	$35.00	79.6%	19.3%	79.5%	100.0%	61.7%	1.2%	-7.8%	-849.5K	111.2M	-113.5K	7.50	43.59	N/A	N/A	2	15	1,051	41,855
2008-10-07	$29.66	$35.00	81.4%	18.5%	77.7%	100.0%	70.6%	6.1%	-8.6%	-758.6K	112.3M	-106.4K	6.67	46.24	N/A	N/A	3	20	1,053	41,850
2008-10-08	$28.20	$35.00	87.0%	19.3%	78.1%	100.0%	0.0%	19.0%	-11.0%	-606.1K	108.0M	-85.7K	4.00	57.03	N/A	N/A	10	40	1,056	41,860
2008-10-09	$26.54	$35.00	109.5%	22.5%	79.8%	100.0%	0.0%	3.3%	-11.6%	-483.9K	102.2M	-84.4K	0.29	79.13	N/A	N/A	35	10	1,066	41,860
2008-10-10	$26.10	$35.00	98.8%	23.1%	77.8%	88.1%	0.0%	28.0%	-20.2%	-360.2K	103.6M	-53.3K	0.00	84.42	N/A	N/A	0	0	1,066	41,819
2008-10-13	$30.43	$35.00	81.3%	20.0%	97.4%	68.8%	69.7%	12.1%	-13.2%	-802.9K	114.3M	-109.9K	10.33	55.47	N/A	N/A	3	31	1,066	41,819
2008-10-14	$29.53	$35.00	82.0%	19.4%	97.4%	69.4%	0.0%	9.4%	-11.2%	-706.8K	110.8M	-104.7K	0.00	48.19	N/A	N/A	0	9	1,069	41,848
2008-10-15	$26.34	$35.00	193.9%	17.1%	102.6%	100.0%	59.7%	4.3%	5.6%	-382.7K	103.6M	-62.3K	0.00	114.32	N/A	N/A	1	0	1,070	41,849
2008-10-16	$27.95	$35.00	71.0%	20.4%	103.1%	29.6%	0.0%	11.5%	-10.8%	-513.3K	108.2M	-75.5K	0.00	50.53	N/A	N/A	0	40	1,071	41,849
2008-10-17	$26.53	$35.00	74.8%	21.4%	101.1%	31.8%	78.4%	6.6%	-1.9%	-443.9K	102.7M	-75.3K	2.69	47.08	N/A	N/A	16	43	1,071	41,867
2008-10-20	$28.73	$35.00	55.8%	16.0%	106.7%	20.9%	58.2%	10.2%	3.1%	-597.6K	80.8M	-88.2K	0.19	55.53	N/A	N/A	107	20	917	31,632
2008-10-21	$27.41	$30.00	66.5%	19.1%	107.4%	27.0%	67.4%	5.0%	-2.1%	-436.0K	79.3M	-68.7K	0.44	65.01	N/A	N/A	34	15	1,021	31,632
2008-10-22	$25.31	$30.00	76.9%	22.0%	109.0%	33.0%	0.0%	5.0%	-6.7%	-272.9K	75.8M	-42.1K	0.02	66.34	N/A	N/A	55	1	1,025	31,647
2008-10-23	$25.42	$30.00	77.5%	22.2%	109.0%	33.3%	75.4%	8.6%	-8.5%	-286.1K	75.8M	-42.8K	0.10	82.01	N/A	N/A	119	12	1,050	31,648
2008-10-24	$23.25	$30.00	85.3%	24.5%	111.6%	37.8%	85.3%	4.0%	-9.0%	-202.6K	69.9M	-34.2K	0.27	77.96	N/A	N/A	115	31	1,164	31,656
2008-10-27	$22.05	$30.00	89.3%	25.6%	106.5%	40.1%	89.2%	2.4%	-10.8%	-185.3K	65.9M	-37.7K	3.00	81.90	N/A	N/A	1	3	1,278	31,685
2008-10-28	$25.22	$30.00	83.5%	23.9%	117.0%	36.7%	0.0%	8.5%	-11.3%	-268.3K	75.1M	-41.8K	0.26	76.48	N/A	N/A	82	21	1,279	31,686
2008-10-29	$25.14	$30.00	87.5%	25.1%	116.9%	39.0%	0.0%	18.1%	-10.3%	-305.9K	73.4M	-55.6K	0.00	118.42	N/A	N/A	54	0	1,337	31,695
2008-10-30	$26.42	$30.00	84.0%	24.1%	118.0%	37.1%	0.0%	15.6%	-8.9%	-339.3K	77.3M	-55.4K	0.42	105.36	N/A	N/A	24	10	1,381	31,695
2008-10-31	$26.38	$30.00	81.3%	23.3%	118.1%	35.5%	0.0%	6.9%	-10.7%	-272.9K	78.8M	-39.7K	1.10	96.42	N/A	N/A	10	11	1,394	31,705