KNOP Options History — September 2018

In September 2018, KNOP traded between $21.23 and $22.50. ATM implied volatility averaged 15.5%, placing in the 19.2% IV rank vs the trailing year. The 30-day expected move averaged 4.5%. IV traded below realized volatility by 4.0% (HV 20d: 19.5%). Max pain ranged from $22.50 to $22.50. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 4.60.

Notable Days

2018-09-21: Highest Volume — 1,133 contracts
2018-09-07: Largest IV drop — 47.6% change
2018-09-06: Highest IV Rank — 40.7%
2018-09-06: Largest Expected Move — 6.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$21.86	$21.23	$22.50	$21.90	$21.75
Max Pain	$22.50	$22.50	$22.50	$22.50	$22.50
ATM IV	15.5%	10.8%	24.5%	16.1%	10.8%
Expected Move	4.5%	3.1%	6.7%	4.6%	3.1%
HV 20d	19.5%	11.2%	21.7%	11.2%	21.4%
HV 60d	15.9%	14.2%	17.1%	14.2%	15.9%
IV Rank	19.2%	8.0%	40.7%	20.7%	8.0%
IV Percentile	18.9%	2.8%	71.8%	17.5%	2.8%
Term Structure	0.8%	-5.0%	8.3%	-0.2%	8.3%
VWIV	17.7%	10.3%	25.8%	16.7%	10.3%
Skew 25d	7.3%	-0.4%	18.2%	8.0%	-0.4%
Skew 10d	10.0%	-17.9%	28.1%	11.2%	3.2%
Call IV 25d	16.0%	13.8%	22.0%	18.6%	15.3%
Put IV 25d	23.3%	14.9%	31.9%	26.6%	14.9%
Bid-Ask Spread %	34.01	21.57	47.86	33.46	42.31
Gamma HHI	0.68	0.48	0.83	0.64	0.71
Net GEX	149.5K	10.0K	240.0K	135.7K	136.5K
Net DEX	309.8K	-872.2K	1.3M	83.6K	1.1M
Net VEX	-12.2K	-14.9K	-9.9K	-13.6K	-9.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	4.60	1.36	11.73	4.01	3.81
Total Volume	585.158	274	1,133	817	543
Total OI	5,079.842	4,465	5,541	4,465	4,768

Daily Data (19 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
2018-09-04	$21.90	$22.50	16.1%	4.6%	11.2%	20.7%	16.7%	8.0%	-0.2%	135.7K	83.6K	-13.6K	4.01	33.46	163	654	2,303	2,162
2018-09-05	$21.53	$22.50	19.6%	5.6%	12.7%	28.8%	21.6%	7.2%	-5.0%	87.0K	813.5K	-13.1K	1.49	21.57	135	201	2,316	2,600
2018-09-06	$21.23	$22.50	24.5%	6.7%	13.5%	40.7%	23.3%	4.2%	0.4%	10.0K	1.3M	-12.5K	8.87	29.88	68	603	2,263	2,608
2018-09-07	$21.55	$22.50	12.9%	4.8%	14.6%	13.0%	20.3%	5.2%	1.0%	31.0K	1.0M	-13.7K	4.61	31.44	69	318	2,246	2,989
2018-09-10	$22.45	$22.50	15.1%	4.6%	20.9%	18.2%	16.0%	18.2%	0.9%	228.1K	-650.2K	-14.1K	1.36	27.36	348	475	2,250	3,005
2018-09-11	$22.36	$22.50	14.1%	4.8%	20.9%	16.0%	25.8%	8.6%	-0.1%	196.4K	-523.0K	-14.9K	3.33	37.96	162	540	2,401	3,026
2018-09-12	$22.50	$22.50	17.5%	5.0%	21.0%	23.9%	17.6%	8.9%	0.2%	178.0K	-872.2K	-14.6K	1.61	47.86	248	400	2,457	3,084
2018-09-13	$22.35	$22.50	16.3%	4.7%	21.2%	21.2%	16.6%	9.0%	1.1%	208.6K	-860.9K	-14.2K	2.90	44.51	151	438	2,527	2,966
2018-09-14	$22.13	$22.50	15.5%	4.5%	21.5%	19.3%	16.6%	4.6%	1.9%	211.8K	-275.0K	-12.4K	10.51	40.52	51	536	2,530	2,848
2018-09-17	$22.00	$22.50	15.9%	4.5%	21.4%	20.1%	16.9%	7.9%	1.4%	240.0K	-238.5K	-12.2K	5.61	42.73	94	527	2,532	2,759
2018-09-18	$21.93	$22.50	15.4%	4.4%	21.3%	19.0%	15.6%	6.5%	1.8%	221.5K	173.2K	-11.5K	3.26	22.39	120	391	2,566	2,759
2018-09-19	$21.93	$22.50	16.0%	4.6%	21.2%	20.4%	16.2%	8.1%	1.5%	216.1K	101.3K	-11.8K	3.23	33.33	121	391	2,532	2,793
2018-09-20	$21.83	$22.50	18.0%	5.1%	21.2%	25.1%	21.8%	6.5%	-0.7%	172.0K	300.9K	-11.3K	6.25	32.76	60	375	2,512	2,797
2018-09-21	$21.68	$22.50	11.1%	3.2%	21.3%	8.9%	10.4%	7.8%	2.9%	223.4K	325.8K	-10.8K	11.73	32.26	89	1,044	2,532	2,743
2018-09-24	$21.38	$22.50	16.1%	4.6%	21.7%	20.8%	23.2%	8.4%	0.6%	78.7K	1.1M	-10.4K	7.73	26.04	74	572	2,252	2,393
2018-09-25	$21.40	$22.50	14.8%	4.2%	20.9%	17.6%	16.9%	5.1%	-2.3%	50.7K	1.1M	-10.5K	1.84	29.66	124	228	2,262	2,414
2018-09-26	$21.55	$22.50	13.0%	3.7%	21.0%	13.3%	14.1%	6.7%	-0.4%	68.3K	1.0M	-10.7K	1.66	38.41	103	171	2,205	2,460
2018-09-27	$21.80	$22.50	11.8%	3.4%	21.5%	10.4%	16.3%	8.3%	2.1%	146.2K	872.3K	-10.2K	3.62	31.72	115	416	2,196	2,461
2018-09-28	$21.75	$22.50	10.8%	3.1%	21.4%	8.0%	10.3%	-0.4%	8.3%	136.5K	1.1M	-9.9K	3.81	42.31	113	430	2,199	2,569