KNOP Options History — January 2015

In January 2015, KNOP traded between $19.21 and $23.13. ATM implied volatility averaged 39.7%, placing in the 16.4% IV rank vs the trailing year. The 30-day expected move averaged 10.3%. IV traded below realized volatility by 27.9% (HV 20d: 67.6%). Max pain ranged from $20.00 to $22.50. Net GEX was positive for 6 of 20 trading days. Term structure was in contango for 5 of 20 days. Put/call ratio averaged 2.67.

Notable Days

2015-01-28: Highest Volume — 266 contracts
2015-01-12: Largest IV spike — 48.9% change
2015-01-12: Highest IV Rank — 32.1%
2015-01-29: Largest Expected Move — 13.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$21.60	$19.21	$23.13	$23.13	$21.34
Max Pain	$22.08	$20.00	$22.50	$22.50	$20.00
ATM IV	39.7%	27.3%	62.8%	40.0%	33.3%
Expected Move	10.3%	7.8%	13.7%	10.3%	9.5%
HV 20d	67.6%	60.1%	72.2%	66.7%	60.1%
HV 60d	60.5%	58.4%	62.0%	62.0%	60.7%
IV Rank	16.4%	7.9%	32.1%	16.6%	12.0%
IV Percentile	65.3%	35.3%	84.5%	68.3%	57.5%
Term Structure	-2.1%	-15.1%	7.1%	-2.3%	5.2%
VWIV	39.5%	30.2%	49.0%	42.1%	35.4%
Skew 25d	7.9%	-2.4%	22.9%	22.9%	21.1%
Skew 10d	13.4%	0.4%	37.3%	37.3%	15.3%
Call IV 25d	35.7%	29.0%	46.2%	29.2%	32.5%
Put IV 25d	43.6%	32.7%	55.7%	52.1%	53.5%
Bid-Ask Spread %	119.20	109.24	130.85	110.86	116.29
Gamma HHI	0.44	0.28	0.74	0.48	0.40
Net GEX	-3.8K	-11.1K	882	-8.5K	882
Net DEX	328.8K	223.6K	435.0K	347.2K	239.8K
Net VEX	-532	-785	-290	-785	-555
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.67	0.00	4.89	4.76	1.31
Total Volume	143.6	0	266	219	266
Total OI	346.6	190	436	422	287

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 Vol	Put Vol	Call OI	Put OI
2015-01-02	$23.13	$0.00	40.0%	10.3%	66.7%	16.6%	0.0%	22.9%	-2.3%	-8.5K	347.2K	-785	4.76	110.86	38	181	186	236
2015-01-05	$22.65	$0.00	41.1%	10.2%	66.8%	17.4%	0.0%	4.2%	-1.3%	-7.4K	357.3K	-701	0.00	117.23	0	0	186	236
2015-01-06	$21.59	$0.00	37.4%	9.5%	68.3%	14.8%	0.0%	-2.4%	-1.3%	-8.9K	403.0K	-523	0.00	119.31	0	0	186	236
2015-01-07	$22.05	$0.00	35.1%	9.2%	64.7%	13.3%	0.0%	0.9%	-0.2%	-10.4K	390.1K	-562	0.00	121.13	0	0	186	236
2015-01-08	$22.08	$0.00	44.2%	9.9%	64.6%	19.5%	0.0%	8.1%	-2.5%	-8.3K	374.8K	-564	4.89	116.52	38	186	186	236
2015-01-09	$22.62	$0.00	42.1%	10.0%	64.6%	18.0%	0.0%	4.0%	-0.9%	-11.1K	370.5K	-615	4.89	117.75	38	186	186	236
2015-01-12	$21.44	$0.00	62.8%	10.5%	66.2%	32.1%	0.0%	3.5%	-0.1%	-6.7K	385.7K	-447	4.89	121.96	38	186	186	236
2015-01-13	$20.24	$0.00	58.4%	11.4%	69.1%	29.1%	42.1%	6.9%	-3.1%	-3.3K	435.0K	-302	3.64	117.65	47	171	186	236
2015-01-14	$19.21	$22.50	42.5%	12.2%	71.5%	18.3%	49.0%	11.8%	-6.6%	-2.3K	422.4K	-290	3.81	118.53	47	179	198	238
2015-01-15	$19.44	$22.50	44.1%	12.6%	68.6%	19.4%	48.9%	14.5%	-9.7%	-2.8K	419.6K	-330	3.81	111.69	47	179	198	238
2015-01-16	$20.86	$22.50	39.3%	11.3%	70.2%	16.1%	0.0%	3.0%	-8.3%	-2.8K	433.8K	-386	0.00	130.85	0	0	198	236
2015-01-20	$21.83	$22.50	33.1%	9.5%	71.8%	11.8%	39.1%	13.8%	0.5%	-2.6K	271.9K	-449	0.00	124.05	7	0	30	160
2015-01-21	$22.33	$22.50	31.4%	9.0%	70.7%	10.7%	0.0%	7.0%	5.9%	-2.6K	267.8K	-492	0.00	129.93	0	0	37	160
2015-01-22	$21.80	$22.50	35.4%	10.1%	70.4%	13.4%	32.6%	11.4%	-5.7%	-2.4K	266.2K	-459	1.40	113.73	105	147	37	160
2015-01-23	$22.67	$22.50	27.3%	7.8%	71.6%	7.9%	30.2%	15.8%	7.1%	370	233.6K	-739	1.39	109.24	106	147	112	160
2015-01-26	$22.13	$22.50	29.3%	8.4%	72.2%	9.3%	0.0%	1.8%	1.2%	720	224.0K	-719	0.00	124.66	0	0	113	160
2015-01-27	$22.21	$22.50	31.2%	9.0%	70.5%	10.6%	33.3%	-2.2%	-0.9%	582	223.6K	-733	0.00	123.51	1	0	113	160
2015-01-28	$21.10	$22.50	38.6%	11.1%	63.7%	15.6%	37.9%	-0.8%	-3.0%	571	255.4K	-486	1.31	124.11	115	151	114	160
2015-01-29	$21.22	$20.00	47.7%	13.7%	60.2%	21.9%	46.2%	12.7%	-15.1%	485	253.5K	-511	1.31	115.03	115	151	123	164
2015-01-30	$21.34	$20.00	33.3%	9.5%	60.1%	12.0%	35.4%	21.1%	5.2%	882	239.8K	-555	1.31	116.29	115	151	123	164