KNOP Options History — July 2015

In July 2015, KNOP traded between $15.61 and $19.71. ATM implied volatility averaged 40.8%, placing in the 29.2% IV rank vs the trailing year. The 30-day expected move averaged 11.4%. IV traded below realized volatility by 0.1% (HV 20d: 40.8%). Max pain ranged from $20.00 to $25.00. Net GEX was positive for 11 of 22 trading days. Term structure was in contango for 10 of 22 days. Put/call ratio averaged 0.61.

Notable Days

2015-07-02: Highest Volume — 459 contracts
2015-07-13: Largest IV spike — 46.5% change
2015-07-14: Highest IV Rank — 55.1%
2015-07-07: Largest Expected Move — 13.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$17.69	$15.61	$19.71	$19.32	$15.61
Max Pain	$20.45	$20.00	$25.00	$25.00	$20.00
ATM IV	40.8%	29.2%	62.9%	29.2%	41.5%
Expected Move	11.4%	8.4%	13.4%	8.4%	11.9%
HV 20d	40.8%	30.3%	54.2%	30.3%	53.4%
HV 60d	41.6%	38.4%	46.9%	38.4%	46.9%
IV Rank	29.2%	15.7%	55.1%	15.7%	30.1%
IV Percentile	81.0%	47.2%	99.2%	47.2%	85.7%
Term Structure	-2.1%	-9.6%	5.7%	1.2%	-3.2%
VWIV	38.0%	30.1%	48.3%	31.3%	43.2%
Skew 25d	5.8%	-8.9%	20.3%	4.7%	-8.9%
Skew 10d	7.8%	-12.9%	25.7%	-0.7%	-12.9%
Call IV 25d	39.4%	32.8%	51.8%	32.8%	51.8%
Put IV 25d	45.2%	37.5%	57.2%	37.5%	42.9%
Bid-Ask Spread %	102.42	90.15	115.88	111.83	98.60
Gamma HHI	0.53	0.22	0.78	0.37	0.78
Net GEX	807	-8.0K	9.6K	4.3K	-8.0K
Net DEX	363.0K	192.7K	531.8K	428.6K	311.4K
Net VEX	-690	-1.2K	-335	-978	-435
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.61	0.33	0.69	0.62	0.50
Total Volume	372	256	459	452	291
Total OI	808.818	522	988	878	685

Daily Data (22 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
2015-07-01	$19.32	$25.00	29.2%	8.4%	30.3%	15.7%	31.3%	4.7%	1.2%	4.3K	428.6K	-978	0.62	111.83	279	173	573	305
2015-07-02	$19.71	$25.00	30.4%	8.7%	32.1%	17.2%	32.0%	2.6%	5.5%	9.6K	357.3K	-1.2K	0.62	115.88	284	175	654	305
2015-07-06	$18.83	$20.00	36.8%	9.6%	34.7%	24.6%	37.7%	6.4%	-5.5%	5.6K	430.3K	-887	0.69	97.87	255	175	659	308
2015-07-07	$18.60	$20.00	51.0%	13.4%	34.6%	41.2%	37.2%	8.0%	-8.4%	4.7K	447.8K	-788	0.69	96.71	255	175	660	308
2015-07-08	$18.79	$20.00	33.1%	10.3%	35.1%	20.3%	36.5%	8.6%	-5.5%	5.6K	444.2K	-855	0.62	99.54	255	159	660	311
2015-07-09	$19.19	$20.00	32.5%	10.8%	36.8%	19.6%	33.8%	8.7%	5.7%	8.7K	412.6K	-995	0.65	106.16	255	165	660	311
2015-07-10	$19.39	$20.00	30.0%	10.9%	37.4%	16.6%	35.4%	8.6%	-2.2%	9.4K	407.6K	-1.1K	0.65	106.07	255	165	660	320
2015-07-13	$18.91	$20.00	43.9%	10.9%	37.5%	32.9%	36.1%	5.8%	0.4%	6.0K	445.1K	-909	0.69	104.07	255	175	647	320
2015-07-14	$19.01	$20.00	62.9%	10.5%	37.4%	55.1%	37.4%	6.6%	-3.3%	6.0K	445.4K	-924	0.69	110.96	255	175	647	330
2015-07-15	$18.01	$20.00	44.5%	12.8%	40.3%	33.6%	48.3%	-2.8%	-7.6%	476	496.4K	-672	0.67	110.87	255	171	647	330
2015-07-16	$17.81	$20.00	44.0%	12.6%	38.2%	33.0%	34.5%	6.9%	-6.5%	-5	513.3K	-640	0.67	112.11	255	171	647	341
2015-07-17	$16.75	$20.00	39.3%	11.3%	41.3%	27.5%	31.0%	8.8%	-9.6%	-731	531.8K	-335	0.68	108.14	255	173	647	341
2015-07-20	$16.59	$20.00	44.9%	12.9%	40.1%	34.1%	30.1%	7.4%	2.0%	-801	234.1K	-392	0.35	99.48	190	66	353	169
2015-07-21	$17.29	$20.00	44.5%	12.8%	44.6%	33.6%	32.4%	17.2%	-4.3%	-104	197.4K	-503	0.33	106.01	200	66	372	170
2015-07-22	$17.13	$20.00	39.9%	11.4%	44.6%	28.2%	38.5%	10.6%	2.3%	85	192.7K	-519	0.58	100.62	200	116	382	170
2015-07-23	$16.50	$20.00	38.7%	11.1%	45.2%	26.9%	47.2%	7.0%	0.1%	-2.5K	231.3K	-465	0.58	92.10	200	116	382	220
2015-07-24	$16.34	$20.00	38.0%	10.9%	44.9%	26.0%	43.2%	2.7%	4.1%	-5.5K	265.3K	-491	0.59	95.23	200	119	382	270
2015-07-27	$16.00	$20.00	43.6%	12.5%	43.4%	32.6%	44.0%	-4.9%	-7.4%	-6.5K	290.4K	-469	0.65	90.15	200	130	368	273
2015-07-28	$16.13	$20.00	46.5%	13.3%	42.5%	35.9%	43.4%	-0.8%	-8.8%	-6.7K	311.2K	-429	0.69	98.15	191	131	368	288
2015-07-29	$17.22	$20.00	41.6%	11.9%	49.3%	30.3%	42.9%	20.3%	0.2%	-4.8K	277.8K	-644	0.60	95.17	191	114	368	294
2015-07-30	$16.05	$20.00	40.1%	11.5%	54.2%	28.4%	40.8%	4.8%	5.5%	-7.1K	314.8K	-541	0.54	97.60	194	104	368	321
2015-07-31	$15.61	$20.00	41.5%	11.9%	53.4%	30.1%	43.2%	-8.9%	-3.2%	-8.0K	311.4K	-435	0.50	98.60	194	97	373	312