KNOP Options History — January 2017

In January 2017, KNOP traded between $21.70 and $24.40. ATM implied volatility averaged 26.3%, placing in the 11.6% IV rank vs the trailing year. The 30-day expected move averaged 7.8%. IV traded below realized volatility by 8.0% (HV 20d: 34.3%). Max pain ranged from $20.00 to $22.50. Net GEX was positive for 12 of 20 trading days. Term structure was in contango for 10 of 20 days. Put/call ratio averaged 2.09.

Notable Days

2017-01-05: Highest Volume — 1,028 contracts
2017-01-24: Largest IV spike — 32.8% change
2017-01-13: Highest IV Rank — 15.9%
2017-01-13: Largest Expected Move — 9.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$22.42	$21.70	$24.40	$24.40	$21.70
Max Pain	$22.25	$20.00	$22.50	$20.00	$22.50
ATM IV	26.3%	20.4%	32.2%	21.2%	25.2%
Expected Move	7.8%	5.9%	9.2%	6.1%	7.2%
HV 20d	34.3%	23.5%	38.1%	23.7%	34.0%
HV 60d	32.7%	30.0%	34.6%	30.1%	30.9%
IV Rank	11.6%	7.3%	15.9%	7.8%	10.8%
IV Percentile	23.4%	2.0%	44.4%	2.4%	17.9%
Term Structure	-0.0%	-7.9%	11.8%	11.8%	-6.1%
VWIV	28.3%	22.7%	32.4%	23.6%	26.5%
Skew 25d	7.6%	-7.5%	18.2%	18.2%	-0.8%
Skew 10d	11.1%	-11.4%	37.5%	9.2%	8.8%
Call IV 25d	26.5%	21.8%	37.2%	21.8%	27.4%
Put IV 25d	34.1%	23.7%	39.9%	39.9%	26.6%
Bid-Ask Spread %	105.03	89.12	115.12	106.80	111.44
Gamma HHI	0.55	0.31	0.81	0.60	0.54
Net GEX	33.7K	-29.6K	105.3K	28.2K	-20.5K
Net DEX	318.4K	-1.4M	1.0M	-1.3M	820.7K
Net VEX	-5.9K	-6.8K	-3.0K	-3.0K	-6.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.09	0.57	3.20	0.57	0.94
Total Volume	452.65	201	1,028	322	221
Total OI	2,024.6	1,530	2,534	1,530	1,797

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
2017-01-03	$24.40	$20.00	21.2%	6.1%	23.7%	7.8%	23.6%	18.2%	11.8%	28.2K	-1.3M	-3.0K	0.57	106.80	205	117	879	651
2017-01-04	$24.25	$20.00	25.9%	7.4%	23.5%	11.3%	31.9%	0.8%	-7.9%	34.7K	-1.4M	-3.6K	1.02	102.98	122	124	925	653
2017-01-05	$22.35	$22.50	21.4%	9.2%	38.1%	8.0%	32.4%	0.7%	-2.9%	101.3K	-415.2K	-3.5K	1.17	89.12	474	554	879	658
2017-01-06	$22.40	$22.50	23.2%	7.7%	37.8%	9.3%	27.0%	11.0%	1.1%	105.3K	-55.5K	-6.5K	0.85	108.84	372	316	1,113	1,195
2017-01-09	$22.28	$22.50	27.6%	8.1%	36.9%	12.6%	29.9%	7.9%	0.7%	65.9K	144.3K	-6.3K	2.51	111.71	133	334	978	1,246
2017-01-10	$22.13	$22.50	25.7%	7.6%	36.6%	11.1%	27.9%	9.4%	3.6%	59.1K	336.4K	-6.5K	3.08	112.89	117	360	998	1,317
2017-01-11	$22.18	$22.50	32.1%	9.2%	36.6%	15.8%	30.9%	8.6%	-0.4%	83.1K	467.1K	-6.6K	3.12	103.71	109	340	1,001	1,383
2017-01-12	$22.10	$22.50	27.8%	8.0%	36.6%	12.7%	29.1%	6.7%	-3.9%	70.3K	330.9K	-6.5K	3.20	115.12	109	349	1,002	1,383
2017-01-13	$22.20	$22.50	32.2%	9.2%	36.6%	15.9%	30.8%	6.9%	-3.7%	69.0K	410.9K	-6.4K	2.42	110.32	144	349	1,002	1,395
2017-01-17	$22.15	$22.50	30.6%	8.8%	36.4%	14.7%	30.7%	-7.5%	-0.4%	75.7K	293.6K	-6.3K	3.04	91.95	112	341	1,043	1,395
2017-01-18	$22.07	$22.50	27.5%	7.9%	35.8%	12.5%	30.2%	7.8%	0.4%	98.7K	451.6K	-6.0K	2.77	110.99	127	352	1,033	1,407
2017-01-19	$22.15	$22.50	27.2%	7.8%	35.8%	12.2%	26.4%	12.4%	6.1%	89.7K	643.1K	-6.2K	2.44	109.22	142	346	1,033	1,448
2017-01-20	$22.15	$22.50	27.1%	7.8%	35.7%	12.2%	27.8%	10.6%	2.6%	-27.8K	1.0M	-6.1K	2.48	101.96	141	350	1,073	1,461
2017-01-23	$22.08	$22.50	20.4%	5.9%	34.2%	7.3%	22.7%	10.3%	3.6%	-29.6K	822.4K	-5.9K	2.11	105.28	143	302	424	1,122
2017-01-24	$22.25	$22.50	27.1%	7.8%	34.2%	12.2%	29.6%	10.0%	0.6%	-27.2K	792.8K	-6.3K	2.51	90.76	140	351	449	1,162
2017-01-25	$22.33	$22.50	24.9%	7.1%	34.0%	10.5%	25.8%	13.1%	-0.0%	-29.6K	821.2K	-6.6K	3.05	107.53	115	351	473	1,232
2017-01-26	$22.43	$22.50	27.3%	7.8%	34.0%	12.3%	27.6%	13.4%	-2.4%	-26.6K	763.6K	-6.7K	2.66	103.55	132	351	487	1,232
2017-01-27	$22.45	$22.50	26.1%	7.5%	34.0%	11.4%	30.0%	13.5%	1.0%	-22.9K	718.4K	-6.8K	0.93	105.18	104	97	532	1,232
2017-01-30	$22.40	$22.50	26.5%	7.6%	32.5%	11.7%	25.9%	-1.5%	-4.2%	-22.2K	697.6K	-6.1K	0.88	101.24	110	97	556	1,243
2017-01-31	$21.70	$22.50	25.2%	7.2%	34.0%	10.8%	26.5%	-0.8%	-6.1%	-20.5K	820.7K	-6.5K	0.94	111.44	114	107	555	1,242