KNOP Options History — May 2020

In May 2020, KNOP traded between $12.70 and $15.51. ATM implied volatility averaged 57.7%, placing in the 37.9% IV rank vs the trailing year. The 30-day expected move averaged 15.5%. IV traded below realized volatility by 5.0% (HV 20d: 62.7%). Max pain ranged from $12.50 to $15.00. Net GEX was positive for 12 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 6.07.

Notable Days

2020-05-15: Highest Volume — 629 contracts
2020-05-15: Largest IV spike — 31.7% change
2020-05-05: Highest IV Rank — 60.3%
2020-05-15: Largest Expected Move — 21.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$13.74	$12.70	$15.51	$13.84	$15.19
Max Pain	$13.00	$12.50	$15.00	$15.00	$12.50
ATM IV	57.7%	39.4%	86.3%	60.5%	40.2%
Expected Move	15.5%	11.3%	21.5%	17.3%	11.5%
HV 20d	62.7%	50.2%	86.2%	85.4%	51.2%
HV 60d	91.0%	89.6%	93.1%	89.6%	93.1%
IV Rank	37.9%	23.7%	60.3%	40.1%	24.2%
IV Percentile	84.4%	73.4%	96.8%	88.9%	73.4%
Term Structure	-2.7%	-38.1%	17.2%	-16.1%	-2.8%
VWIV	52.2%	40.1%	73.3%	61.0%	40.1%
Skew 25d	11.1%	1.6%	37.1%	8.0%	8.6%
Skew 10d	19.0%	-64.4%	91.3%	19.3%	13.1%
Call IV 25d	46.3%	28.7%	64.6%	54.8%	31.6%
Put IV 25d	57.4%	39.2%	79.1%	62.8%	40.2%
Bid-Ask Spread %	85.02	36.27	105.75	105.75	101.72
Gamma HHI	0.38	0.30	0.59	0.44	0.59
Net GEX	3.5K	-13.5K	25.3K	18.0K	25.3K
Net DEX	376.2K	-326.1K	694.9K	134.3K	-103.3K
Net VEX	-5.5K	-6.1K	-4.7K	-5.3K	-5.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	6.07	0.00	43.93	4.49	0.13
Total Volume	140.5	6	629	269	53
Total OI	4,267.85	3,891	4,528	3,896	4,528

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
2020-05-01	$13.84	$15.00	60.5%	17.3%	85.4%	40.1%	61.0%	8.0%	-16.1%	18.0K	134.3K	-5.3K	4.49	105.75	49	220	2,029	1,867
2020-05-04	$13.91	$15.00	77.8%	13.6%	81.9%	53.6%	44.9%	9.7%	5.6%	18.0K	163.1K	-5.6K	2.00	77.20	2	4	2,010	2,032
2020-05-05	$13.07	$15.00	86.3%	17.1%	86.2%	60.3%	57.8%	15.0%	-4.1%	10.7K	476.9K	-4.8K	6.60	82.41	20	132	2,012	2,028
2020-05-06	$13.28	$15.00	59.1%	16.7%	86.2%	39.1%	56.6%	11.8%	-2.5%	5.8K	539.7K	-4.7K	0.14	48.21	37	5	2,016	2,140
2020-05-07	$13.39	$12.50	71.7%	17.2%	80.8%	48.9%	51.5%	11.6%	-4.2%	9.4K	455.0K	-4.8K	12.84	36.27	19	244	2,037	2,140
2020-05-08	$13.38	$12.50	69.5%	15.7%	74.7%	47.2%	54.7%	11.3%	0.9%	9.1K	481.6K	-5.5K	0.89	72.32	53	47	2,048	2,305
2020-05-11	$13.26	$12.50	55.6%	16.2%	60.9%	36.3%	0.0%	1.6%	-2.2%	319	502.3K	-5.3K	42.00	85.71	1	42	2,073	2,301
2020-05-12	$13.28	$12.50	47.4%	16.1%	56.1%	29.9%	53.3%	4.6%	-3.2%	-2.0K	536.5K	-4.8K	0.00	83.02	10	0	2,074	2,342
2020-05-13	$12.84	$12.50	55.5%	15.9%	50.2%	36.2%	55.3%	7.5%	-2.8%	-5.9K	619.4K	-4.9K	0.14	77.47	29	4	2,079	2,342
2020-05-14	$12.70	$12.50	56.9%	16.3%	50.3%	37.3%	56.0%	8.4%	-2.0%	-12.0K	608.1K	-5.0K	2.74	84.53	23	63	2,094	2,341
2020-05-15	$12.95	$12.50	74.9%	21.5%	50.8%	51.3%	73.3%	14.5%	-38.1%	776	386.8K	-5.9K	43.93	96.63	14	615	2,059	2,403
2020-05-18	$13.59	$12.50	61.3%	17.6%	53.2%	40.7%	49.7%	10.9%	-2.1%	-13.5K	694.9K	-5.8K	0.17	99.47	247	42	1,660	2,231
2020-05-19	$13.30	$12.50	54.9%	15.7%	53.7%	35.7%	54.6%	8.1%	-0.9%	-10.1K	679.1K	-5.9K	3.11	92.81	47	146	1,888	2,267
2020-05-20	$13.60	$12.50	51.9%	14.9%	53.1%	33.4%	44.9%	4.8%	-7.8%	-8.6K	597.4K	-5.9K	0.39	98.65	18	7	1,899	2,300
2020-05-21	$13.72	$12.50	45.1%	12.9%	53.0%	28.1%	0.0%	25.4%	17.2%	-8.4K	605.9K	-5.7K	0.05	97.61	103	5	1,915	2,300
2020-05-22	$14.09	$12.50	45.4%	13.0%	53.7%	28.3%	50.1%	14.0%	3.7%	-4.5K	384.7K	-6.1K	0.80	61.55	5	4	2,015	2,304
2020-05-26	$15.17	$12.50	55.8%	16.0%	58.1%	36.4%	49.0%	37.1%	1.5%	7.4K	-57.3K	-6.0K	0.09	99.86	285	25	2,008	2,306
2020-05-27	$15.51	$12.50	39.4%	11.3%	57.8%	23.7%	42.6%	4.0%	4.8%	17.7K	-326.1K	-5.8K	0.59	101.65	109	64	2,127	2,318
2020-05-28	$14.74	$12.50	44.1%	12.6%	56.4%	27.3%	44.1%	4.5%	0.9%	12.9K	145.9K	-6.1K	0.31	97.46	13	4	2,150	2,369
2020-05-29	$15.19	$12.50	40.2%	11.5%	51.2%	24.2%	40.1%	8.6%	-2.8%	25.3K	-103.3K	-5.7K	0.13	101.72	47	6	2,155	2,373