KNOP Options History — December 2016

In December 2016, KNOP traded between $21.25 and $23.80. ATM implied volatility averaged 27.2%, placing in the 12.2% IV rank vs the trailing year. The 30-day expected move averaged 7.6%. IV traded below realized volatility by 2.3% (HV 20d: 29.5%). Max pain ranged from $20.00 to $20.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 0.89.

Notable Days

2016-12-29: Highest Volume — 305 contracts
2016-12-12: Largest IV spike — 49.6% change
2016-12-12: Highest IV Rank — 26.7%
2016-12-20: Largest Expected Move — 8.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$22.51	$21.25	$23.80	$21.25	$23.60
Max Pain	$20.00	$20.00	$20.00	$20.00	$20.00
ATM IV	27.2%	17.5%	46.9%	28.3%	25.0%
Expected Move	7.6%	5.0%	8.7%	8.1%	7.2%
HV 20d	29.5%	26.5%	34.8%	30.9%	26.5%
HV 60d	31.5%	29.0%	35.2%	33.8%	29.4%
IV Rank	12.2%	5.1%	26.7%	13.1%	10.6%
IV Percentile	21.8%	0.4%	76.6%	23.8%	15.5%
Term Structure	2.0%	-5.6%	12.4%	-5.6%	7.5%
VWIV	26.7%	19.0%	34.7%	28.9%	20.9%
Skew 25d	4.9%	-6.9%	12.8%	-6.9%	7.5%
Skew 10d	14.1%	0.7%	73.6%	4.7%	8.0%
Call IV 25d	23.1%	17.0%	30.3%	30.3%	20.6%
Put IV 25d	28.1%	21.3%	37.0%	23.4%	28.1%
Bid-Ask Spread %	105.03	100.20	113.81	113.81	107.24
Gamma HHI	0.70	0.57	0.87	0.57	0.75
Net GEX	54.4K	46.4K	63.4K	53.0K	57.8K
Net DEX	-981.6K	-1.5M	-618.0K	-618.0K	-1.1M
Net VEX	-3.8K	-4.3K	-3.0K	-3.8K	-3.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.89	0.46	1.37	0.86	0.90
Total Volume	208.524	155	305	171	253
Total OI	1,536.381	1,375	1,595	1,456	1,520

Daily Data (21 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
2016-12-01	$21.25	$20.00	28.3%	8.1%	30.9%	13.1%	28.9%	-6.9%	-5.6%	53.0K	-618.0K	-3.8K	0.86	113.81	92	79	919	537
2016-12-02	$22.30	$20.00	27.0%	7.7%	34.6%	12.1%	27.0%	7.3%	2.4%	46.4K	-905.2K	-4.0K	0.73	102.23	123	90	929	545
2016-12-05	$22.70	$20.00	25.7%	7.8%	34.8%	11.2%	28.4%	12.8%	3.5%	54.4K	-1.2M	-4.2K	1.00	103.16	79	79	985	556
2016-12-06	$22.50	$20.00	26.0%	8.0%	32.2%	11.4%	28.2%	11.8%	-0.9%	51.3K	-1.1M	-4.2K	1.07	102.92	75	80	988	558
2016-12-07	$22.81	$20.00	21.3%	7.7%	31.6%	8.0%	26.2%	5.9%	-1.5%	63.4K	-1.2M	-3.8K	0.55	104.89	143	79	983	570
2016-12-08	$22.30	$20.00	26.0%	8.5%	30.7%	11.4%	26.8%	-3.4%	0.5%	48.6K	-988.5K	-4.3K	0.83	104.45	105	87	983	571
2016-12-09	$21.98	$20.00	31.4%	8.0%	28.3%	15.3%	28.1%	7.1%	-0.6%	53.0K	-805.3K	-4.3K	0.63	104.46	145	92	987	593
2016-12-12	$21.90	$20.00	46.9%	7.9%	27.9%	26.7%	28.7%	7.4%	-2.8%	49.9K	-733.7K	-4.1K	0.63	105.45	145	92	987	596
2016-12-13	$21.90	$20.00	34.1%	7.9%	27.8%	17.3%	29.0%	11.0%	-2.7%	50.4K	-722.8K	-4.2K	0.71	103.76	145	103	987	608
2016-12-14	$22.05	$20.00	28.0%	8.0%	27.8%	12.8%	28.2%	9.1%	-1.5%	52.9K	-842.3K	-4.2K	0.64	103.29	153	98	987	608
2016-12-15	$22.30	$20.00	26.2%	7.5%	27.9%	11.5%	26.8%	3.8%	0.6%	61.6K	-810.0K	-3.8K	0.91	100.20	113	103	977	604
2016-12-16	$21.90	$20.00	25.6%	7.3%	28.8%	11.1%	28.0%	8.2%	1.5%	55.1K	-732.1K	-4.0K	0.84	106.84	122	102	977	595
2016-12-19	$22.00	$20.00	27.2%	7.8%	28.6%	12.3%	25.0%	-0.5%	2.7%	54.6K	-769.6K	-3.8K	1.17	101.45	76	89	949	578
2016-12-20	$22.13	$20.00	30.2%	8.7%	28.3%	14.5%	26.7%	-3.6%	-3.5%	49.7K	-785.8K	-3.7K	1.37	103.53	71	97	949	591
2016-12-21	$22.75	$20.00	26.3%	7.5%	29.9%	11.6%	26.2%	0.9%	3.8%	59.4K	-1.1M	-3.5K	1.23	104.57	79	97	952	591
2016-12-22	$22.95	$20.00	25.5%	7.3%	30.0%	11.0%	25.2%	1.6%	4.8%	63.4K	-1.3M	-3.3K	1.31	106.91	74	97	971	591
2016-12-23	$23.15	$20.00	21.8%	6.3%	30.0%	8.3%	25.4%	4.2%	6.7%	57.1K	-1.4M	-3.1K	1.28	103.48	74	95	956	591
2016-12-27	$23.25	$20.00	22.2%	6.4%	27.6%	8.6%	22.9%	7.4%	10.0%	48.8K	-1.5M	-3.0K	0.85	105.34	104	88	966	591
2016-12-28	$23.20	$20.00	28.4%	8.1%	27.3%	13.1%	34.7%	6.0%	3.7%	47.8K	-921.5K	-3.3K	0.46	109.45	175	81	781	594
2016-12-29	$23.80	$20.00	17.5%	5.0%	28.0%	5.1%	19.0%	5.5%	12.4%	63.2K	-1.2M	-3.0K	0.65	108.30	185	120	858	605
2016-12-30	$23.60	$20.00	25.0%	7.2%	26.5%	10.6%	20.9%	7.5%	7.5%	57.8K	-1.1M	-3.5K	0.90	107.24	133	120	869	651