KNOP Options History — February 2014

In February 2014, KNOP traded between $26.06 and $28.75. ATM implied volatility averaged 33.1%, placing in the 12.0% IV rank vs the trailing year. The 30-day expected move averaged 9.0%. IV traded above realized volatility by 13.6% (HV 20d: 19.4%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 1 of 19 trading days. Term structure was in contango for 2 of 19 days. Put/call ratio averaged 1.75.

Notable Days

2014-02-03: Highest Volume — 60 contracts
2014-02-11: Largest IV spike — 71.9% change
2014-02-11: Highest IV Rank — 36.1%
2014-02-11: Largest Expected Move — 11.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$27.39	$26.06	$28.75	$27.00	$28.75
Max Pain	$25.00	$25.00	$25.00	$25.00	$25.00
ATM IV	33.1%	23.8%	61.7%	25.2%	26.4%
Expected Move	9.0%	6.8%	11.7%	7.2%	7.6%
HV 20d	19.4%	13.5%	24.6%	18.1%	24.4%
HV 60d	26.6%	25.9%	27.5%	26.0%	26.5%
IV Rank	12.0%	4.2%	36.1%	5.4%	6.4%
IV Percentile	48.3%	14.6%	91.1%	19.9%	23.8%
Term Structure	-5.4%	-12.5%	5.4%	-6.5%	-7.8%
VWIV	22.9%	22.9%	22.9%	22.9%	22.9%
Skew 25d	2.9%	-4.6%	15.3%	4.1%	3.0%
Skew 10d	3.8%	-6.4%	29.4%	0.5%	-2.1%
Call IV 25d	27.3%	16.7%	36.4%	24.0%	26.1%
Put IV 25d	30.2%	21.1%	37.2%	28.1%	29.1%
Bid-Ask Spread %	123.30	112.83	132.11	119.15	117.77
Gamma HHI	0.42	0.33	0.70	0.50	0.43
Net GEX	-1.2K	-3.1K	353	353	-235
Net DEX	-58.8K	-91.2K	-22.3K	-33.1K	-89.3K
Net VEX	-309	-407	-154	-154	-242
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.75	0.00	9.00	5.00	0.00
Total Volume	5.579	0	60	60	0
Total OI	129.263	56	137	56	133

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
2014-02-03	$27.00	$25.00	25.2%	7.2%	18.1%	5.4%	0.0%	4.1%	-6.5%	353	-33.1K	-154	5.00	119.15	10	50	21	35
2014-02-04	$26.85	$25.00	37.9%	10.9%	17.4%	16.1%	0.0%	-3.1%	-11.4%	-3.1K	-22.3K	-308	0.00	126.28	10	0	31	85
2014-02-05	$26.94	$25.00	30.2%	8.6%	17.2%	9.6%	0.0%	-0.5%	-4.4%	-2.3K	-54.8K	-278	0.00	124.36	1	0	41	85
2014-02-06	$26.99	$25.00	37.0%	10.6%	17.2%	15.3%	0.0%	-0.2%	-12.5%	-1.7K	-50.6K	-329	0.00	123.20	0	0	42	85
2014-02-07	$26.53	$25.00	38.5%	9.7%	14.4%	16.6%	0.0%	5.1%	-7.2%	-2.5K	-33.6K	-352	0.00	125.67	10	0	42	85
2014-02-10	$26.39	$25.00	35.9%	9.4%	13.5%	14.4%	0.0%	7.7%	-6.8%	-2.3K	-31.5K	-384	0.00	112.83	0	0	52	85
2014-02-11	$26.06	$25.00	61.7%	11.7%	14.2%	36.1%	0.0%	5.6%	-8.3%	-1.5K	-29.9K	-407	0.00	132.11	0	0	52	85
2014-02-12	$26.99	$25.00	33.9%	9.2%	18.1%	12.7%	0.0%	15.3%	-2.9%	-1.2K	-50.8K	-378	0.00	122.27	3	0	52	85
2014-02-13	$26.82	$25.00	31.0%	8.9%	17.9%	10.3%	0.0%	10.5%	-4.1%	-1.3K	-50.4K	-376	0.00	125.31	0	0	52	85
2014-02-14	$26.98	$25.00	23.8%	6.8%	17.7%	4.2%	0.0%	-1.7%	-5.0%	-1.1K	-70.0K	-316	0.00	116.82	0	0	52	85
2014-02-18	$26.75	$25.00	32.2%	9.2%	17.8%	11.3%	0.0%	2.4%	-7.1%	-1.1K	-56.0K	-309	0.00	119.36	0	0	52	85
2014-02-19	$26.84	$25.00	33.5%	9.6%	17.8%	12.3%	0.0%	-2.9%	-9.6%	-1.3K	-53.7K	-331	0.00	128.52	0	0	52	85
2014-02-20	$28.09	$25.00	24.0%	6.9%	23.7%	4.4%	0.0%	11.8%	5.4%	-389	-89.2K	-259	0.00	120.68	0	0	52	85
2014-02-21	$28.43	$25.00	29.2%	8.4%	23.6%	8.8%	22.9%	6.0%	0.4%	-473	-91.2K	-288	0.00	128.86	1	0	52	85
2014-02-24	$28.60	$25.00	32.8%	9.4%	23.6%	11.8%	0.0%	-3.5%	-3.5%	-362	-83.2K	-283	9.00	127.25	2	18	51	85
2014-02-25	$28.50	$25.00	30.8%	8.8%	23.8%	10.1%	0.0%	-4.6%	-3.9%	-542	-76.8K	-304	0.00	125.11	0	0	49	85
2014-02-26	$28.20	$25.00	35.2%	10.1%	24.2%	13.8%	0.0%	-4.2%	-3.6%	-715	-64.2K	-317	0.00	126.74	0	0	49	85
2014-02-27	$28.70	$25.00	29.3%	8.4%	24.6%	8.8%	0.0%	4.8%	-4.6%	-409	-87.2K	-261	0.00	120.30	1	0	49	85
2014-02-28	$28.75	$25.00	26.4%	7.6%	24.4%	6.4%	0.0%	3.0%	-7.8%	-235	-89.3K	-242	0.00	117.77	0	0	48	85