KNOP Options History — February 2016

In February 2016, KNOP traded between $11.09 and $16.17. ATM implied volatility averaged 57.1%, placing in the 25.7% IV rank vs the trailing year. The 30-day expected move averaged 16.6%. IV traded below realized volatility by 16.7% (HV 20d: 73.8%). Max pain ranged from $12.50 to $15.00. Net GEX was positive for 15 of 20 trading days. Term structure was in contango for 13 of 20 days. Put/call ratio averaged 0.82.

Notable Days

2016-02-22: Highest Volume — 1,494 contracts
2016-02-17: Largest IV spike — 457.8% change
2016-02-12: Highest IV Rank — 79.7%
2016-02-12: Largest Expected Move — 42.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$13.77	$11.09	$16.17	$13.65	$15.99
Max Pain	$14.32	$12.50	$15.00	$12.50	$15.00
ATM IV	57.1%	10.5%	146.9%	53.5%	47.4%
Expected Move	16.6%	12.8%	42.1%	15.3%	13.6%
HV 20d	73.8%	65.5%	82.2%	82.2%	73.2%
HV 60d	77.2%	74.2%	80.7%	74.2%	80.5%
IV Rank	25.7%	0.0%	79.7%	21.0%	21.9%
IV Percentile	77.7%	0.0%	99.6%	88.9%	69.0%
Term Structure	9.0%	-63.0%	120.4%	-32.8%	5.4%
VWIV	47.9%	32.6%	53.4%	48.6%	50.0%
Skew 25d	8.2%	-8.3%	25.7%	-4.8%	3.1%
Skew 10d	21.9%	-7.1%	52.5%	8.6%	28.6%
Call IV 25d	60.8%	37.2%	106.4%	64.0%	55.8%
Put IV 25d	69.0%	49.7%	109.2%	59.2%	59.0%
Bid-Ask Spread %	113.36	96.56	184.81	102.32	109.42
Gamma HHI	0.44	0.31	0.69	0.36	0.43
Net GEX	59	-31.6K	22.6K	9.7K	-23.2K
Net DEX	-51.3K	-444.3K	216.4K	-161.8K	4.8K
Net VEX	-2.5K	-5.2K	-1.1K	-1.9K	-5.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.82	0.28	3.27	0.47	0.37
Total Volume	402.55	240	1,494	389	367
Total OI	1,520.1	1,012	2,531	1,164	2,531

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
2016-02-01	$13.65	$12.50	53.5%	15.3%	82.2%	21.0%	48.6%	-4.8%	-32.8%	9.7K	-161.8K	-1.9K	0.47	102.32	265	124	825	339
2016-02-02	$13.31	$12.50	58.1%	16.7%	80.9%	23.9%	50.6%	8.9%	53.5%	9.4K	-122.0K	-2.0K	0.45	109.94	277	124	867	367
2016-02-03	$13.58	$12.50	66.1%	19.0%	81.3%	28.9%	53.4%	8.6%	120.4%	7.6K	-98.3K	-1.9K	0.79	98.55	157	124	867	367
2016-02-04	$13.31	$0.00	59.8%	15.4%	81.0%	24.9%	0.0%	3.5%	3.5%	9.0K	-96.9K	-1.8K	0.71	103.09	157	111	866	367
2016-02-05	$13.29	$0.00	54.2%	15.4%	77.6%	21.4%	0.0%	-3.6%	0.3%	9.6K	-100.6K	-1.8K	0.71	107.54	157	111	866	377
2016-02-08	$12.67	$0.00	66.2%	16.4%	75.6%	29.0%	0.0%	10.3%	-1.2%	8.6K	18.6K	-1.6K	0.71	96.56	157	111	866	377
2016-02-09	$11.71	$0.00	71.5%	16.2%	76.2%	32.3%	0.0%	2.5%	-2.5%	5.4K	130.7K	-1.3K	0.71	104.31	157	111	866	377
2016-02-10	$11.09	$0.00	60.1%	17.2%	69.5%	25.1%	0.0%	14.9%	-5.9%	4.9K	180.6K	-1.3K	0.71	103.64	157	111	856	376
2016-02-11	$11.26	$0.00	54.2%	15.5%	65.5%	21.4%	0.0%	2.8%	-0.8%	4.6K	216.4K	-1.1K	0.71	111.93	157	111	856	376
2016-02-12	$12.01	$0.00	146.9%	42.1%	68.7%	79.7%	0.0%	0.0%	-63.0%	4.6K	-27.8K	-1.6K	0.63	184.81	177	111	856	376
2016-02-16	$12.67	$0.00	10.5%	0.0%	69.5%	0.0%	0.0%	0.0%	43.3%	22.6K	-95.4K	-1.7K	0.63	181.42	177	111	865	376
2016-02-17	$13.25	$0.00	58.5%	16.8%	70.6%	28.5%	0.0%	25.7%	-0.3%	5.0K	-137.1K	-1.3K	0.63	103.31	176	111	865	376
2016-02-18	$13.58	$15.00	55.8%	16.0%	67.6%	26.9%	32.6%	25.1%	12.4%	6.5K	-213.1K	-1.5K	0.35	115.30	178	62	879	376
2016-02-19	$14.93	$15.00	47.2%	13.5%	71.9%	21.8%	47.5%	19.5%	0.2%	9.7K	-444.3K	-1.9K	0.29	107.88	194	56	881	377
2016-02-22	$16.17	$15.00	44.5%	12.8%	71.8%	20.2%	49.7%	12.2%	13.2%	11.1K	-403.3K	-2.2K	2.99	111.18	374	1,120	716	296
2016-02-23	$15.48	$15.00	48.5%	13.9%	74.1%	22.6%	46.7%	-8.3%	2.8%	-25.6K	102.7K	-4.9K	3.27	96.78	243	794	961	1,342
2016-02-24	$15.89	$15.00	49.1%	14.1%	72.9%	22.9%	52.0%	20.7%	6.8%	-31.6K	79.2K	-4.6K	0.70	109.72	243	170	971	1,357
2016-02-25	$15.66	$15.00	44.6%	12.8%	73.3%	20.2%	47.3%	5.8%	11.7%	-27.8K	127.1K	-5.1K	0.28	103.38	276	76	974	1,480
2016-02-26	$15.99	$15.00	45.7%	13.1%	73.4%	20.9%	49.0%	0.4%	12.2%	-18.8K	15.2K	-5.1K	0.29	106.15	276	80	1,008	1,481
2016-02-29	$15.99	$15.00	47.4%	13.6%	73.2%	21.9%	50.0%	3.1%	5.4%	-23.2K	4.8K	-5.2K	0.37	109.42	268	99	1,018	1,513