EPP Options History — March 2013

In March 2013, EPP traded between $48.98 and $50.54. ATM implied volatility averaged 14.4%, placing in the 26.0% IV rank vs the trailing year. The 30-day expected move averaged 4.1%. IV traded above realized volatility by 1.1% (HV 20d: 13.3%). Max pain ranged from $45.00 to $50.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 1.40.

Notable Days

2013-03-28: Highest Volume — 429 contracts
2013-03-12: Largest IV spike — 16.3% change
2013-03-04: Highest IV Rank — 33.4%
2013-03-21: Largest Expected Move — 4.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$49.77	$48.98	$50.54	$49.64	$49.70
Max Pain	$45.25	$45.00	$50.00	$50.00	$45.00
ATM IV	14.4%	12.4%	16.0%	14.4%	13.8%
Expected Move	4.1%	3.8%	4.5%	4.1%	4.0%
HV 20d	13.3%	11.0%	14.5%	14.4%	11.0%
HV 60d	12.2%	11.8%	12.4%	12.0%	11.8%
IV Rank	26.0%	16.9%	33.4%	26.2%	23.4%
IV Percentile	20.7%	12.7%	29.8%	18.3%	17.9%
Term Structure	1.2%	-0.3%	2.5%	0.8%	0.5%
VWIV	13.8%	8.9%	17.9%	17.6%	12.1%
Skew 25d	3.3%	2.6%	4.2%	4.2%	3.7%
Skew 10d	9.0%	6.3%	11.9%	10.2%	8.9%
Call IV 25d	13.1%	12.3%	14.4%	13.7%	12.3%
Put IV 25d	16.5%	15.6%	17.9%	17.9%	15.9%
Bid-Ask Spread %	36.52	26.28	84.16	35.32	31.55
Gamma HHI	0.40	0.28	0.71	0.39	0.31
Net GEX	742.2K	257.2K	1.7M	700.8K	277.2K
Net DEX	-4.2M	-6.5M	-2.6M	-4.2M	-3.2M
Net VEX	-10.9K	-14.2K	-8.6K	-14.2K	-8.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.40	0.00	14.00	14.00	0.32
Total Volume	42.85	0	429	30	429
Total OI	2,608.2	2,014	3,241	2,956	2,048

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
2013-03-01	$49.64	$50.00	14.4%	4.1%	14.4%	26.2%	17.6%	4.2%	0.8%	700.8K	-4.2M	-14.2K	14.00	35.32	N/A	N/A	2	28	2,156	800
2013-03-04	$49.32	$45.00	16.0%	4.4%	14.5%	33.4%	0.0%	3.4%	1.1%	674.3K	-3.5M	-13.2K	0.00	84.16	N/A	N/A	0	1	2,158	828
2013-03-05	$49.91	$45.00	13.6%	3.9%	14.2%	22.5%	13.1%	3.4%	1.8%	876.0K	-4.6M	-13.2K	0.00	37.28	N/A	N/A	4	0	2,158	829
2013-03-06	$50.10	$45.00	13.9%	3.9%	14.3%	23.9%	13.8%	3.5%	1.9%	932.6K	-5.2M	-12.7K	0.28	37.17	N/A	N/A	18	5	2,162	829
2013-03-07	$50.30	$45.00	14.8%	4.1%	14.3%	28.2%	0.0%	3.8%	2.0%	977.8K	-5.7M	-13.1K	0.00	34.02	N/A	N/A	0	0	2,180	829
2013-03-08	$50.34	$45.00	13.9%	4.1%	13.9%	23.8%	13.3%	3.0%	2.5%	1.1M	-5.9M	-12.2K	0.61	34.29	N/A	N/A	18	11	2,180	829
2013-03-11	$50.54	$45.00	12.4%	3.8%	13.3%	16.9%	12.5%	3.3%	2.0%	1.2M	-6.5M	-11.4K	0.00	32.88	N/A	N/A	221	0	2,198	840
2013-03-12	$50.40	$45.00	14.4%	4.1%	13.4%	26.3%	13.0%	3.1%	2.2%	1.4M	-6.3M	-12.0K	0.00	26.28	N/A	N/A	1	0	2,400	840
2013-03-13	$49.97	$45.00	13.7%	4.2%	13.9%	23.0%	0.0%	3.1%	1.6%	1.3M	-5.0M	-11.9K	0.00	39.92	N/A	N/A	0	0	2,401	840
2013-03-14	$49.89	$45.00	14.1%	4.1%	13.6%	25.0%	14.1%	3.3%	1.9%	1.6M	-4.6M	-11.1K	2.50	34.30	N/A	N/A	2	5	2,390	836
2013-03-15	$50.21	$45.00	13.9%	4.0%	13.7%	23.7%	13.9%	3.4%	2.1%	1.7M	-5.8M	-10.6K	0.00	33.95	N/A	N/A	33	0	2,392	838
2013-03-18	$49.58	$45.00	14.4%	4.1%	14.4%	26.0%	13.9%	3.3%	0.5%	258.4K	-3.2M	-9.7K	0.44	36.01	N/A	N/A	9	4	1,335	679
2013-03-19	$48.98	$45.00	15.8%	4.5%	14.0%	32.4%	17.9%	3.2%	0.9%	257.2K	-2.6M	-9.6K	0.00	36.19	N/A	N/A	0	6	1,344	675
2013-03-20	$49.22	$45.00	15.2%	4.4%	13.4%	29.9%	8.9%	3.5%	1.1%	261.7K	-2.8M	-9.8K	0.00	35.12	N/A	N/A	5	0	1,344	681
2013-03-21	$49.03	$45.00	15.8%	4.5%	12.4%	32.7%	14.5%	3.1%	0.3%	257.5K	-2.7M	-9.3K	0.00	36.90	N/A	N/A	3	0	1,339	681
2013-03-22	$49.56	$45.00	13.9%	4.0%	12.2%	23.8%	0.0%	2.7%	0.6%	270.2K	-3.1M	-8.8K	0.00	29.19	N/A	N/A	0	10	1,340	681
2013-03-25	$49.29	$45.00	15.1%	4.3%	11.6%	29.5%	13.9%	3.5%	0.5%	271.8K	-2.9M	-8.6K	0.00	32.70	N/A	N/A	0	2	1,340	691
2013-03-26	$49.65	$45.00	13.8%	4.0%	11.9%	23.5%	12.1%	3.8%	0.3%	274.9K	-3.2M	-8.6K	0.00	33.55	N/A	N/A	34	0	1,340	691
2013-03-27	$49.77	$45.00	14.5%	4.2%	11.0%	26.7%	0.0%	2.6%	-0.3%	280.1K	-3.3M	-8.6K	0.00	29.67	N/A	N/A	0	6	1,351	691
2013-03-28	$49.70	$45.00	13.8%	4.0%	11.0%	23.4%	0.0%	3.7%	0.5%	277.2K	-3.2M	-8.6K	0.32	31.55	N/A	N/A	324	105	1,351	697