KNOP Options History — November 2015

In November 2015, KNOP traded between $13.99 and $16.50. ATM implied volatility averaged 56.2%, placing in the 31.2% IV rank vs the trailing year. The 30-day expected move averaged 16.0%. IV traded above realized volatility by 19.9% (HV 20d: 36.2%). Max pain ranged from $15.00 to $17.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 0.23.

Notable Days

2015-11-18: Highest Volume — 594 contracts
2015-11-27: Largest IV spike — 323.2% change
2015-11-11: Highest IV Rank — 100.0%
2015-11-27: Largest Expected Move — 51.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.47	$13.99	$16.50	$16.50	$15.90
Max Pain	$16.13	$15.00	$17.50	$17.50	$15.00
ATM IV	56.2%	36.9%	179.1%	36.9%	39.9%
Expected Move	16.0%	10.6%	51.4%	10.6%	11.4%
HV 20d	36.2%	23.0%	52.2%	25.4%	50.3%
HV 60d	53.3%	50.5%	56.7%	56.7%	53.4%
IV Rank	31.2%	12.4%	100.0%	20.5%	12.4%
IV Percentile	77.5%	51.6%	100.0%	54.4%	57.1%
Term Structure	-5.1%	-70.0%	10.7%	4.4%	0.8%
VWIV	54.8%	33.6%	145.1%	40.9%	41.8%
Skew 25d	10.0%	-9.4%	97.8%	14.6%	-4.1%
Skew 10d	17.0%	-8.5%	131.8%	13.8%	11.5%
Call IV 25d	49.5%	33.9%	173.6%	39.1%	41.9%
Put IV 25d	59.5%	37.8%	164.2%	53.7%	37.8%
Bid-Ask Spread %	117.38	102.17	165.35	105.23	121.25
Gamma HHI	0.42	0.28	0.71	0.59	0.34
Net GEX	10.9K	6.7K	17.4K	10.1K	14.9K
Net DEX	-15.3K	-338.3K	142.1K	-56.9K	-206.6K
Net VEX	-2.0K	-3.0K	-1.4K	-2.5K	-1.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.23	0.00	0.41	0.17	0.00
Total Volume	381.5	0	594	550	109
Total OI	1,360.35	1,209	1,497	1,322	1,325

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
2015-11-02	$16.50	$17.50	36.9%	10.6%	25.4%	20.5%	40.9%	14.6%	4.4%	10.1K	-56.9K	-2.5K	0.17	105.23	470	80	991	331
2015-11-03	$16.46	$17.50	44.2%	12.7%	24.3%	29.5%	48.7%	12.8%	-2.1%	11.6K	-81.0K	-2.5K	0.17	111.83	470	80	1,017	331
2015-11-04	$16.21	$17.50	41.7%	11.9%	23.9%	26.5%	51.1%	-4.9%	9.7%	10.3K	-33.7K	-2.4K	0.18	105.46	439	80	1,017	331
2015-11-05	$16.01	$17.50	47.2%	12.7%	23.0%	33.3%	43.9%	1.8%	3.7%	10.6K	80.6K	-1.9K	0.18	110.03	438	80	1,022	331
2015-11-06	$16.13	$17.50	44.5%	13.5%	23.5%	30.0%	0.0%	7.0%	-0.5%	11.1K	-116	-2.2K	0.00	113.24	0	0	1,015	322
2015-11-09	$16.01	$17.50	47.6%	11.5%	23.5%	33.7%	0.0%	9.3%	10.7%	10.2K	51.3K	-2.0K	0.00	118.54	0	0	1,015	322
2015-11-10	$15.23	$17.50	45.1%	12.8%	28.3%	30.6%	43.5%	-9.4%	-0.8%	8.6K	125.0K	-1.7K	0.18	105.48	438	80	1,023	331
2015-11-11	$15.32	$17.50	142.7%	40.9%	28.5%	100.0%	145.1%	-9.4%	-70.0%	7.4K	-259.8K	-3.0K	0.18	165.35	438	80	1,023	331
2015-11-12	$14.46	$17.50	46.1%	13.2%	32.8%	21.2%	47.5%	13.7%	-2.3%	8.4K	142.1K	-1.6K	0.21	102.17	402	84	1,043	331
2015-11-13	$15.27	$15.00	49.2%	14.1%	39.9%	23.7%	46.6%	20.2%	-3.3%	13.2K	95.0K	-1.6K	0.22	108.44	397	87	1,083	330
2015-11-16	$15.34	$15.00	46.6%	13.4%	40.2%	21.6%	46.6%	7.9%	-2.0%	12.3K	96.8K	-1.5K	0.34	115.13	149	50	1,075	321
2015-11-17	$15.09	$15.00	44.1%	12.6%	39.9%	19.5%	43.7%	5.0%	-1.3%	11.9K	92.1K	-1.8K	0.23	115.67	468	109	1,137	360
2015-11-18	$14.68	$15.00	44.8%	12.8%	40.4%	20.1%	44.2%	6.5%	-0.9%	11.4K	42.4K	-1.8K	0.27	117.79	468	126	1,137	303
2015-11-19	$14.25	$15.00	49.1%	14.1%	40.2%	23.7%	50.0%	-4.0%	-4.1%	8.2K	108.2K	-1.5K	0.27	114.06	466	126	1,137	304
2015-11-20	$13.99	$15.00	47.5%	13.6%	40.2%	22.3%	49.2%	6.0%	-4.9%	6.7K	141.1K	-1.4K	0.27	113.96	466	126	1,137	304
2015-11-23	$14.82	$15.00	46.9%	13.4%	47.0%	21.8%	46.9%	4.5%	-1.3%	8.0K	18.7K	-1.4K	0.12	112.18	90	11	978	231
2015-11-24	$15.63	$15.00	37.9%	10.9%	50.8%	14.5%	33.6%	10.7%	5.8%	11.4K	-111.0K	-1.8K	0.33	112.66	30	10	1,043	238
2015-11-25	$16.14	$15.00	42.3%	12.1%	52.2%	18.1%	37.2%	14.0%	6.8%	14.4K	-211.8K	-2.0K	0.39	116.92	251	97	1,081	228
2015-11-27	$16.06	$15.00	179.1%	51.4%	50.2%	100.0%	126.2%	97.8%	-50.6%	17.4K	-338.3K	-2.5K	0.41	162.18	238	97	1,100	228
2015-11-30	$15.90	$15.00	39.9%	11.4%	50.3%	12.4%	41.8%	-4.1%	0.8%	14.9K	-206.6K	-1.9K	0.00	121.25	109	0	1,097	228