EPP Options History — February 2013

In February 2013, EPP traded between $48.31 and $50.21. ATM implied volatility averaged 12.5%, placing in the 16.7% IV rank vs the trailing year. The 30-day expected move averaged 3.7%. IV traded above realized volatility by 1.9% (HV 20d: 10.7%). Max pain ranged from $48.00 to $50.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 12 of 19 days. Put/call ratio averaged 0.81.

Notable Days

2013-02-14: Highest Volume — 818 contracts
2013-02-07: Largest IV spike — 39.9% change
2013-02-26: Highest IV Rank — 32.7%
2013-02-26: Largest Expected Move — 4.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$49.14	$48.31	$50.21	$49.08	$49.66
Max Pain	$49.82	$48.00	$50.00	$48.00	$50.00
ATM IV	12.5%	8.8%	15.8%	10.6%	15.3%
Expected Move	3.7%	3.1%	4.5%	3.3%	4.4%
HV 20d	10.7%	8.0%	14.4%	8.0%	14.4%
HV 60d	11.6%	10.9%	12.1%	12.1%	12.0%
IV Rank	16.7%	0.0%	32.7%	4.6%	30.2%
IV Percentile	10.9%	0.0%	23.8%	2.4%	21.8%
Term Structure	0.3%	-1.3%	1.9%	0.5%	-1.1%
VWIV	12.7%	10.2%	15.7%	12.9%	14.8%
Skew 25d	2.6%	-3.5%	4.3%	4.3%	3.2%
Skew 10d	6.6%	3.2%	11.4%	3.4%	9.1%
Call IV 25d	11.9%	8.9%	15.8%	8.9%	14.6%
Put IV 25d	14.5%	9.0%	18.3%	13.2%	17.8%
Bid-Ask Spread %	46.90	21.62	95.12	59.92	39.34
Gamma HHI	0.33	0.19	0.51	0.29	0.38
Net GEX	392.2K	167.0K	707.3K	194.7K	698.2K
Net DEX	-3.2M	-4.9M	-2.1M	-2.7M	-4.5M
Net VEX	-11.4K	-15.2K	-8.1K	-8.7K	-14.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.81	0.00	5.00	0.17	1.23
Total Volume	88.526	0	818	1	2
Total OI	2,185.263	1,535	2,954	1,543	2,954

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2013-02-01	$49.08	$0.00	10.6%	3.3%	8.0%	4.6%	0.0%	4.3%	0.5%	194.7K	-2.7M	-8.7K	0.00	59.92	N/A	N/A	0	1	954	589
2013-02-04	$48.49	$0.00	13.4%	3.9%	9.2%	18.1%	0.0%	3.4%	0.3%	211.6K	-2.3M	-9.0K	0.17	53.13	N/A	N/A	12	2	954	590
2013-02-05	$48.57	$0.00	9.9%	3.4%	9.0%	0.9%	0.0%	3.3%	1.9%	202.5K	-2.3M	-8.9K	0.00	47.38	N/A	N/A	0	12	943	592
2013-02-06	$48.65	$0.00	8.8%	4.4%	8.7%	0.0%	0.0%	-3.5%	0.6%	209.4K	-2.4M	-8.7K	0.00	95.12	N/A	N/A	0	4	943	602
2013-02-07	$48.31	$0.00	12.3%	3.5%	8.9%	16.2%	0.0%	3.0%	0.9%	230.3K	-2.1M	-8.9K	0.00	39.09	N/A	N/A	2	0	942	602
2013-02-08	$48.95	$0.00	12.0%	3.4%	9.4%	14.9%	0.0%	3.2%	-0.2%	199.5K	-2.6M	-8.1K	0.00	60.60	N/A	N/A	0	0	944	602
2013-02-11	$48.88	$0.00	11.4%	3.3%	8.8%	12.4%	0.0%	3.1%	1.1%	208.9K	-2.5M	-8.1K	1.92	46.17	N/A	N/A	12	23	944	602
2013-02-12	$48.95	$0.00	11.4%	3.3%	8.8%	12.3%	12.9%	2.8%	1.4%	177.6K	-2.5M	-8.7K	0.00	58.56	N/A	N/A	20	0	956	625
2013-02-13	$49.33	$48.00	11.6%	3.3%	9.0%	13.1%	11.2%	1.6%	1.2%	167.0K	-2.8M	-8.4K	0.81	46.64	N/A	N/A	175	141	966	625
2013-02-14	$49.60	$50.00	11.2%	3.2%	9.0%	11.3%	11.2%	2.5%	0.8%	172.9K	-2.8M	-9.7K	0.01	47.54	N/A	N/A	808	10	1,131	766
2013-02-15	$49.47	$50.00	12.1%	3.5%	9.1%	15.4%	11.0%	2.3%	0.5%	520.0K	-4.0M	-14.1K	0.50	48.00	N/A	N/A	6	3	1,828	776
2013-02-19	$50.21	$50.00	10.9%	3.1%	10.2%	9.8%	10.2%	2.4%	1.4%	595.1K	-4.9M	-13.2K	0.03	27.00	N/A	N/A	370	11	1,778	760
2013-02-20	$49.57	$50.00	11.6%	3.3%	11.4%	13.1%	0.0%	1.6%	0.7%	707.3K	-4.3M	-15.2K	5.00	41.30	N/A	N/A	2	10	2,146	771
2013-02-21	$48.86	$50.00	14.7%	4.2%	12.7%	27.6%	0.0%	3.8%	-0.9%	546.9K	-3.1M	-14.8K	0.00	32.21	N/A	N/A	2	0	2,146	778
2013-02-22	$49.47	$50.00	14.3%	4.1%	13.4%	25.6%	14.3%	2.9%	-0.3%	634.6K	-3.9M	-15.0K	0.00	21.62	N/A	N/A	0	13	2,147	778
2013-02-25	$48.90	$50.00	15.7%	4.5%	14.1%	31.9%	0.0%	4.2%	-1.3%	551.6K	-3.1M	-13.7K	0.00	62.26	N/A	N/A	0	1	2,147	781
2013-02-26	$49.01	$50.00	15.8%	4.5%	14.0%	32.7%	15.7%	2.5%	-0.5%	544.9K	-3.2M	-14.4K	0.00	32.96	N/A	N/A	11	0	2,147	782
2013-02-27	$49.66	$50.00	14.8%	4.2%	14.4%	27.8%	14.8%	2.6%	-0.6%	679.3K	-4.3M	-14.6K	1.23	32.22	N/A	N/A	13	16	2,147	782
2013-02-28	$49.66	$50.00	15.3%	4.4%	14.4%	30.2%	0.0%	3.2%	-1.1%	698.2K	-4.5M	-14.3K	0.00	39.34	N/A	N/A	0	2	2,156	798