KNOP Options History — February 2015

In February 2015, KNOP traded between $21.29 and $24.12. ATM implied volatility averaged 33.7%, placing in the 12.3% IV rank vs the trailing year. The 30-day expected move averaged 9.3%. IV traded below realized volatility by 14.1% (HV 20d: 47.8%). Max pain ranged from $20.00 to $22.50. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 0.77.

Notable Days

2015-02-09: Highest Volume — 409 contracts
2015-02-11: Largest IV drop — 12.9% change
2015-02-06: Highest IV Rank — 15.5%
2015-02-04: Largest Expected Move — 10.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$22.91	$21.29	$24.12	$21.29	$22.42
Max Pain	$22.24	$20.00	$22.50	$22.50	$22.50
ATM IV	33.7%	29.4%	38.5%	33.1%	34.2%
Expected Move	9.3%	8.0%	10.5%	9.5%	9.8%
HV 20d	47.8%	33.4%	59.1%	58.1%	33.7%
HV 60d	58.3%	54.8%	60.8%	60.5%	54.8%
IV Rank	12.3%	9.3%	15.5%	11.9%	12.6%
IV Percentile	56.1%	40.5%	65.9%	57.1%	59.5%
Term Structure	0.4%	-12.1%	7.4%	-3.7%	-0.5%
VWIV	34.9%	24.2%	44.0%	38.1%	36.3%
Skew 25d	4.5%	-2.9%	17.9%	2.5%	1.7%
Skew 10d	6.9%	-6.3%	27.3%	7.9%	5.6%
Call IV 25d	34.0%	21.9%	41.7%	32.8%	35.8%
Put IV 25d	38.5%	32.0%	57.1%	35.3%	37.4%
Bid-Ask Spread %	115.75	101.33	127.26	125.24	125.00
Gamma HHI	0.75	0.38	0.96	0.38	0.86
Net GEX	11.5K	443	18.2K	443	10.4K
Net DEX	106.3K	-16.8K	243.0K	243.0K	177.6K
Net VEX	-1.1K	-1.5K	-585	-585	-872
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.77	0.58	1.31	1.31	0.74
Total Volume	272.158	0	409	0	306
Total OI	429.526	277	496	277	476

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
2015-02-02	$21.29	$22.50	33.1%	9.5%	58.1%	11.9%	0.0%	2.5%	-3.7%	443	243.0K	-585	0.00	125.24	0	0	113	164
2015-02-03	$21.98	$20.00	33.1%	9.5%	59.1%	11.9%	38.1%	15.4%	-3.6%	958	222.1K	-661	1.31	117.98	115	151	123	164
2015-02-04	$21.88	$20.00	36.7%	10.5%	56.5%	14.3%	36.5%	15.4%	-7.5%	879	219.8K	-662	1.31	113.50	115	151	123	164
2015-02-05	$22.53	$22.50	34.3%	8.8%	57.0%	12.7%	24.2%	17.9%	-0.7%	2.0K	189.2K	-702	0.82	109.79	184	151	123	164
2015-02-06	$23.31	$22.50	38.5%	9.6%	58.2%	15.5%	25.3%	8.2%	-0.8%	6.8K	104.6K	-1.1K	0.68	105.03	222	151	193	164
2015-02-09	$24.12	$22.50	38.0%	9.2%	58.7%	15.2%	37.8%	0.3%	-12.1%	10.7K	48.9K	-1.2K	0.59	101.33	258	151	241	164
2015-02-10	$22.98	$22.50	36.9%	8.0%	58.1%	14.5%	34.2%	-1.6%	6.7%	17.1K	58.6K	-1.2K	0.58	113.75	258	149	327	164
2015-02-11	$23.26	$22.50	32.2%	9.2%	53.5%	11.2%	34.1%	2.7%	6.3%	16.3K	45.5K	-1.3K	0.71	116.61	185	131	327	163
2015-02-12	$23.74	$22.50	35.0%	10.0%	48.8%	13.2%	34.3%	5.5%	5.1%	16.8K	-7.7K	-1.5K	0.71	111.15	185	131	328	163
2015-02-13	$23.52	$22.50	33.7%	9.7%	49.3%	12.3%	34.5%	5.4%	7.4%	17.3K	-12.3K	-1.4K	0.69	106.77	190	131	328	163
2015-02-17	$23.54	$22.50	32.1%	9.2%	43.8%	11.2%	34.9%	1.5%	6.6%	17.5K	-16.8K	-1.5K	0.69	113.99	190	131	333	163
2015-02-18	$23.65	$22.50	33.7%	9.7%	41.3%	12.3%	28.3%	8.0%	-4.7%	18.2K	22.6K	-1.3K	0.69	120.04	190	131	333	163
2015-02-19	$23.05	$22.50	31.5%	9.0%	41.9%	10.8%	0.0%	1.3%	-4.7%	15.2K	78.2K	-1.3K	0.00	120.39	0	0	308	163
2015-02-20	$23.23	$22.50	30.6%	8.8%	40.8%	10.2%	0.0%	6.3%	1.4%	15.3K	85.0K	-1.2K	0.00	127.26	0	2	308	163
2015-02-23	$22.90	$22.50	32.5%	9.3%	39.0%	11.5%	42.1%	-2.7%	5.8%	16.2K	108.9K	-1.0K	0.72	114.03	176	126	317	155
2015-02-24	$22.55	$22.50	31.7%	9.1%	38.4%	10.9%	44.0%	-2.8%	4.2%	11.6K	160.9K	-910	0.72	114.29	176	126	317	155
2015-02-25	$22.80	$22.50	29.4%	8.4%	38.5%	9.3%	39.5%	-2.9%	1.8%	14.0K	143.1K	-933	0.72	118.93	176	126	317	155
2015-02-26	$22.60	$22.50	32.9%	9.4%	33.4%	11.7%	34.1%	2.8%	0.8%	11.0K	148.0K	-992	0.74	124.23	176	130	317	155
2015-02-27	$22.42	$22.50	34.2%	9.8%	33.7%	12.6%	36.3%	1.7%	-0.5%	10.4K	177.6K	-872	0.74	125.00	176	130	317	159