EPP Options History — April 2012

In April 2012, EPP traded between $42.04 and $44.25. ATM implied volatility averaged 20.6%, placing in the 15.3% IV rank vs the trailing year. The 30-day expected move averaged 5.9%. IV traded above realized volatility by 2.9% (HV 20d: 17.7%). Max pain ranged from $42.00 to $42.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 20 of 20 days. Put/call ratio averaged 0.81.

Notable Days

2012-04-19: Highest Volume — 293 contracts
2012-04-10: Largest IV spike — 16.3% change
2012-04-10: Highest IV Rank — 24.8%
2012-04-10: Largest Expected Move — 7.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$43.34	$42.04	$44.25	$43.86	$44.10
Max Pain	$42.00	$42.00	$42.00	$42.00	$42.00
ATM IV	20.6%	17.2%	25.2%	18.3%	18.0%
Expected Move	5.9%	4.9%	7.1%	5.3%	5.2%
HV 20d	17.7%	16.0%	21.1%	21.1%	17.3%
HV 60d	17.4%	16.9%	17.8%	17.1%	17.4%
IV Rank	15.3%	8.3%	24.8%	11.3%	9.9%
IV Percentile	26.7%	2.0%	53.6%	11.5%	5.2%
Term Structure	1.3%	0.1%	3.0%	2.1%	1.0%
VWIV	19.9%	16.5%	26.4%	22.2%	17.9%
Skew 25d	7.2%	4.8%	9.6%	6.0%	6.3%
Skew 10d	11.4%	5.5%	16.7%	11.7%	6.5%
Call IV 25d	16.8%	12.7%	21.2%	16.6%	14.8%
Put IV 25d	24.0%	20.8%	27.4%	22.5%	21.1%
Bid-Ask Spread %	59.02	24.02	85.37	35.07	41.75
Gamma HHI	0.36	0.24	0.52	0.30	0.28
Net GEX	400.1K	126.0K	722.4K	417.2K	219.2K
Net DEX	-2.4M	-4.9M	-916.9K	-3.5M	-1.8M
Net VEX	-8.0K	-9.6K	-6.1K	-9.6K	-8.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.81	0.00	6.00	0.00	0.75
Total Volume	80.3	0	293	10	14
Total OI	2,518.45	1,322	3,397	2,791	1,609

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2012-04-02	$43.86	$42.00	18.3%	5.3%	21.1%	11.3%	0.0%	6.0%	2.1%	417.2K	-3.5M	-9.6K	0.00	35.07	N/A	N/A	10	0	1,939	852
2012-04-03	$43.28	$42.00	20.3%	5.8%	17.8%	15.2%	0.0%	8.1%	1.3%	427.1K	-2.8M	-9.5K	2.78	32.58	N/A	N/A	23	64	1,949	852
2012-04-04	$42.82	$42.00	20.4%	5.9%	18.1%	15.4%	22.2%	6.3%	1.5%	397.6K	-2.0M	-9.5K	1.20	24.02	N/A	N/A	5	6	1,961	916
2012-04-05	$43.07	$42.00	20.8%	6.0%	17.2%	16.1%	0.0%	6.9%	0.7%	417.2K	-2.5M	-9.4K	0.00	31.30	N/A	N/A	0	0	1,961	916
2012-04-09	$42.63	$42.00	21.7%	6.5%	17.6%	17.9%	22.9%	6.7%	0.8%	410.5K	-1.9M	-8.4K	6.00	79.11	N/A	N/A	5	30	1,961	916
2012-04-10	$42.04	$42.00	25.2%	7.1%	18.0%	24.8%	0.0%	6.2%	0.4%	343.7K	-1.1M	-7.9K	1.24	79.14	N/A	N/A	29	36	1,959	940
2012-04-11	$42.39	$42.00	23.8%	6.9%	16.0%	22.0%	23.1%	6.7%	0.7%	403.5K	-1.5M	-7.9K	0.00	81.67	N/A	N/A	26	0	1,961	929
2012-04-12	$43.50	$42.00	22.7%	6.5%	18.3%	19.9%	16.5%	7.8%	1.3%	486.8K	-3.2M	-7.8K	0.04	75.77	N/A	N/A	234	10	1,971	929
2012-04-13	$42.98	$42.00	23.4%	6.7%	18.3%	20.4%	0.0%	8.1%	1.4%	493.0K	-2.5M	-8.1K	0.00	83.01	N/A	N/A	14	0	2,031	939
2012-04-16	$43.07	$42.00	23.2%	6.6%	18.2%	20.0%	26.4%	7.4%	0.7%	537.8K	-2.6M	-7.1K	1.27	84.14	N/A	N/A	11	14	2,035	939
2012-04-17	$43.59	$42.00	19.6%	5.6%	18.8%	12.9%	19.3%	9.6%	2.6%	562.6K	-3.6M	-6.7K	0.00	83.87	N/A	N/A	29	0	2,046	935
2012-04-18	$43.48	$42.00	22.5%	6.4%	17.3%	18.7%	18.6%	8.4%	0.2%	654.4K	-3.6M	-6.3K	0.27	84.24	N/A	N/A	153	41	2,075	935
2012-04-19	$43.52	$42.00	19.9%	5.7%	17.2%	13.6%	22.3%	7.5%	2.2%	722.4K	-4.0M	-6.1K	0.10	84.83	N/A	N/A	266	27	2,228	945
2012-04-20	$43.74	$42.00	18.1%	5.2%	17.0%	10.1%	16.8%	8.0%	3.0%	625.1K	-4.9M	-7.6K	0.07	85.37	N/A	N/A	218	15	2,441	956
2012-04-23	$43.06	$42.00	20.7%	5.9%	17.6%	15.2%	21.4%	5.9%	1.1%	126.0K	-916.9K	-7.0K	0.95	38.44	N/A	N/A	38	36	1,023	299
2012-04-24	$43.38	$42.00	20.5%	5.9%	16.8%	14.9%	17.0%	4.8%	0.1%	139.8K	-1.1M	-7.3K	0.00	40.70	N/A	N/A	118	0	1,048	335
2012-04-25	$43.95	$42.00	17.7%	5.1%	17.3%	9.3%	17.2%	6.9%	1.3%	194.0K	-1.6M	-8.3K	0.59	43.75	N/A	N/A	17	10	1,166	335
2012-04-26	$44.12	$42.00	17.8%	5.1%	17.3%	9.4%	0.0%	7.9%	1.8%	199.5K	-1.7M	-8.5K	0.13	36.72	N/A	N/A	77	10	1,183	345
2012-04-27	$44.25	$42.00	17.2%	4.9%	17.2%	8.3%	17.1%	8.1%	2.2%	223.9K	-1.9M	-9.0K	0.00	34.98	N/A	N/A	20	0	1,254	355
2012-04-30	$44.10	$42.00	18.0%	5.2%	17.3%	9.9%	17.9%	6.3%	1.0%	219.2K	-1.8M	-8.7K	0.75	41.75	N/A	N/A	8	6	1,254	355