KNOP Options History — December 2017

In December 2017, KNOP traded between $19.65 and $21.00. ATM implied volatility averaged 21.7%, placing in the 23.9% IV rank vs the trailing year. The 30-day expected move averaged 5.6%. IV traded below realized volatility by 2.6% (HV 20d: 24.3%). Max pain ranged from $20.00 to $22.50. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 17 of 20 days. Put/call ratio averaged 0.69.

Notable Days

2017-12-11: Highest Volume — 945 contracts
2017-12-13: Largest IV drop — 49.6% change
2017-12-12: Highest IV Rank — 65.7%
2017-12-20: Largest Expected Move — 6.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$20.27	$19.65	$21.00	$20.13	$20.73
Max Pain	$20.88	$20.00	$22.50	$22.50	$20.00
ATM IV	21.7%	17.2%	35.9%	20.4%	22.6%
Expected Move	5.6%	4.2%	6.5%	5.9%	6.5%
HV 20d	24.3%	19.2%	35.2%	35.2%	22.9%
HV 60d	24.5%	23.4%	25.9%	23.4%	25.7%
IV Rank	23.9%	9.1%	65.7%	17.4%	30.3%
IV Percentile	36.9%	6.0%	98.0%	25.4%	50.8%
Term Structure	3.1%	-3.1%	13.6%	-1.8%	6.4%
VWIV	27.7%	15.6%	62.0%	20.5%	62.0%
Skew 25d	12.5%	2.1%	31.6%	31.6%	10.3%
Skew 10d	22.3%	4.4%	57.7%	57.7%	12.6%
Call IV 25d	16.0%	10.5%	23.6%	23.6%	14.9%
Put IV 25d	28.5%	18.4%	55.3%	55.3%	25.2%
Bid-Ask Spread %	81.09	38.64	109.81	99.12	79.04
Gamma HHI	0.42	0.36	0.51	0.45	0.38
Net GEX	-46.1K	-56.8K	-33.7K	-38.2K	-43.5K
Net DEX	1.7M	709.5K	2.9M	2.5M	750.3K
Net VEX	-11.2K	-13.0K	-9.4K	-9.8K	-12.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.69	0.35	1.28	0.59	0.66
Total Volume	521.2	267	945	294	510
Total OI	4,317.5	3,678	4,773	3,678	4,773

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
2017-12-01	$20.13	$22.50	20.4%	5.9%	35.2%	17.4%	20.5%	31.6%	-1.8%	-38.2K	2.5M	-9.8K	0.59	99.12	185	109	1,390	2,288
2017-12-04	$20.20	$22.50	20.8%	4.5%	35.2%	18.4%	15.6%	15.9%	5.5%	-33.7K	2.6M	-9.4K	0.50	100.33	178	89	1,390	2,317
2017-12-05	$20.15	$22.50	22.1%	5.6%	35.0%	22.8%	19.7%	20.9%	3.7%	-37.6K	2.4M	-10.2K	1.20	76.18	163	195	1,396	2,318
2017-12-06	$19.65	$22.50	24.9%	6.2%	25.9%	31.2%	22.1%	2.1%	2.4%	-42.5K	2.8M	-9.9K	1.23	89.82	156	192	1,397	2,448
2017-12-07	$19.95	$22.50	23.9%	5.7%	25.8%	28.4%	20.1%	25.8%	2.4%	-52.3K	2.8M	-9.6K	1.28	109.81	201	257	1,407	2,489
2017-12-08	$19.90	$22.50	22.4%	5.3%	25.8%	23.5%	18.5%	4.4%	-0.3%	-56.8K	2.9M	-9.7K	1.28	90.46	201	257	1,462	2,551
2017-12-11	$19.73	$22.50	26.9%	4.2%	25.8%	37.6%	23.7%	10.6%	6.3%	-56.4K	2.7M	-10.2K	0.35	53.88	701	244	1,462	2,551
2017-12-12	$20.25	$20.00	35.9%	5.8%	27.7%	65.7%	20.4%	24.9%	0.6%	-46.9K	1.8M	-11.7K	0.69	95.56	397	272	1,962	2,584
2017-12-13	$20.27	$20.00	18.1%	5.2%	20.1%	12.6%	18.9%	22.5%	2.6%	-52.5K	1.5M	-12.5K	0.77	95.07	345	267	2,024	2,634
2017-12-14	$20.18	$20.00	20.3%	5.8%	19.2%	21.6%	34.5%	5.6%	1.9%	-56.4K	1.6M	-12.5K	0.52	94.04	355	183	2,029	2,674
2017-12-15	$20.20	$20.00	17.2%	4.9%	19.2%	9.1%	24.8%	5.3%	3.3%	-39.1K	1.5M	-11.6K	0.52	103.56	310	161	2,039	2,580
2017-12-18	$20.65	$20.00	21.7%	6.2%	20.7%	26.9%	21.7%	11.8%	0.2%	-48.7K	984.9K	-11.9K	0.58	57.29	346	201	1,998	2,357
2017-12-19	$20.30	$20.00	17.7%	5.1%	20.1%	11.2%	36.2%	4.2%	1.9%	-40.2K	1.3M	-12.0K	0.58	86.16	331	193	2,034	2,431
2017-12-20	$20.20	$20.00	22.7%	6.5%	19.9%	30.7%	40.3%	4.9%	-3.1%	-38.7K	1.3M	-12.4K	0.63	87.26	331	207	2,033	2,437
2017-12-21	$20.38	$20.00	20.7%	5.9%	19.8%	23.1%	30.0%	3.7%	1.1%	-47.9K	1.2M	-11.6K	0.53	38.64	390	206	2,033	2,470
2017-12-22	$20.38	$20.00	18.4%	5.3%	19.8%	14.1%	18.6%	15.4%	7.1%	-49.6K	1.2M	-10.3K	0.54	72.03	339	183	2,090	2,473
2017-12-26	$21.00	$20.00	17.6%	5.1%	22.4%	10.9%	60.6%	13.6%	13.6%	-53.9K	709.5K	-11.7K	0.41	71.50	440	182	2,023	2,474
2017-12-27	$20.60	$20.00	19.9%	5.7%	22.9%	19.8%	20.4%	10.8%	2.1%	-44.7K	835.4K	-12.3K	0.43	68.17	454	197	2,124	2,472
2017-12-28	$20.48	$20.00	20.4%	5.9%	22.7%	21.8%	26.3%	5.1%	5.6%	-42.0K	863.4K	-13.0K	0.59	53.77	312	184	2,226	2,510
2017-12-29	$20.73	$20.00	22.6%	6.5%	22.9%	30.3%	62.0%	10.3%	6.4%	-43.5K	750.3K	-12.4K	0.66	79.04	307	203	2,255	2,518