KNOP Options History — September 2025

In September 2025, KNOP traded between $8.07 and $9.28. ATM implied volatility averaged 37.1%, placing in the 15.1% IV rank vs the trailing year. The 30-day expected move averaged 10.7%. IV traded below realized volatility by 12.5% (HV 20d: 49.6%). Max pain ranged from $5.00 to $7.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 1.15.

Notable Days

2025-09-25: Highest Volume — 1,328 contracts
2025-09-18: Largest IV spike — 101.4% change
2025-09-18: Highest IV Rank — 29.1%
2025-09-18: Largest Expected Move — 15.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$8.73	$8.07	$9.28	$8.46	$8.89
Max Pain	$5.60	$5.00	$7.50	$5.00	$7.50
ATM IV	37.1%	25.9%	52.2%	46.7%	27.5%
Expected Move	10.7%	7.4%	15.0%	13.4%	7.9%
HV 20d	49.6%	41.3%	55.5%	41.3%	47.2%
HV 60d	39.2%	36.0%	41.1%	36.0%	39.0%
IV Rank	15.1%	4.7%	29.1%	24.0%	6.3%
IV Percentile	34.7%	2.4%	74.2%	63.9%	4.4%
Term Structure	-2.8%	-23.2%	13.8%	7.2%	3.0%
VWIV	39.6%	23.3%	59.8%	33.3%	40.3%
Skew 25d	2.6%	-14.3%	24.2%	24.2%	4.5%
Skew 10d	20.4%	-23.9%	108.1%	60.9%	7.5%
Call IV 25d	36.1%	24.2%	51.3%	39.2%	26.8%
Put IV 25d	38.6%	28.6%	63.4%	63.4%	31.3%
Bid-Ask Spread %	76.55	18.05	100.24	93.52	76.70
Gamma HHI	0.68	0.48	0.93	0.77	0.86
Net GEX	10.5K	4.0K	33.6K	7.8K	16.9K
Net DEX	-642.4K	-842.6K	-492.7K	-554.6K	-664.8K
Net VEX	-1.2K	-2.1K	-871	-871	-1.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.15	0.00	10.00	0.01	0.06
Total Volume	168.333	2	1,328	109	113
Total OI	1,594.667	1,165	3,085	1,165	3,085

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
2025-09-02	$8.46	$5.00	46.7%	13.4%	41.3%	24.0%	33.3%	24.2%	7.2%	7.8K	-554.6K	-871	0.01	93.52	108	1	935	230
2025-09-03	$8.16	$5.00	31.8%	9.1%	44.5%	10.2%	34.6%	-14.2%	6.2%	9.4K	-519.9K	-999	0.17	100.24	24	4	993	229
2025-09-04	$8.07	$5.00	32.6%	12.5%	44.7%	11.0%	0.0%	16.5%	-1.6%	9.9K	-492.7K	-1.0K	0.00	67.65	3	0	993	227
2025-09-05	$8.13	$5.00	34.8%	11.1%	44.5%	13.0%	39.0%	-3.2%	-3.3%	10.2K	-507.9K	-960	0.89	71.63	18	16	995	227
2025-09-08	$8.33	$5.00	41.8%	11.5%	44.4%	19.5%	40.5%	11.1%	-14.5%	8.7K	-562.1K	-894	10.00	75.79	2	20	1,007	219
2025-09-09	$8.27	$5.00	45.8%	11.6%	44.4%	23.2%	40.6%	9.3%	-2.2%	9.1K	-554.0K	-925	7.00	72.64	2	14	1,005	209
2025-09-10	$8.93	$5.00	42.0%	12.0%	50.5%	19.7%	53.6%	8.8%	-8.3%	7.4K	-660.9K	-906	0.58	80.04	84	49	1,004	205
2025-09-11	$8.54	$5.00	45.1%	12.9%	53.7%	22.6%	25.8%	15.7%	-6.4%	7.4K	-621.2K	-1.1K	0.73	63.17	74	54	1,068	226
2025-09-12	$8.59	$5.00	29.7%	8.5%	50.7%	8.3%	0.0%	11.4%	13.8%	5.9K	-642.5K	-1.0K	0.00	90.87	2	0	1,091	279
2025-09-15	$8.93	$5.00	45.2%	13.0%	51.2%	22.7%	47.9%	-14.3%	-11.9%	7.7K	-708.1K	-984	0.58	75.82	50	29	1,091	279
2025-09-16	$8.79	$5.00	28.9%	8.3%	51.1%	7.6%	30.0%	0.7%	7.2%	4.7K	-685.1K	-1.0K	1.15	87.90	13	15	1,126	308
2025-09-17	$8.97	$5.00	25.9%	7.4%	50.4%	4.7%	23.3%	4.4%	13.0%	4.0K	-723.6K	-1.0K	0.09	78.02	58	5	1,134	323
2025-09-18	$8.70	$5.00	52.2%	15.0%	52.3%	29.1%	59.8%	1.7%	-23.2%	6.4K	-662.3K	-1.4K	1.67	73.15	18	30	1,172	328
2025-09-19	$9.03	$5.00	26.2%	7.5%	53.2%	5.0%	35.6%	2.4%	-3.0%	4.4K	-747.2K	-1.1K	0.00	88.98	12	0	1,187	358
2025-09-22	$8.91	$5.00	35.2%	10.1%	53.6%	13.4%	42.5%	6.1%	-3.6%	6.7K	-583.0K	-1.2K	0.07	74.65	58	4	1,023	346
2025-09-23	$8.95	$5.00	48.8%	14.0%	53.5%	26.0%	49.3%	-12.6%	-12.2%	7.1K	-597.8K	-1.3K	0.04	71.34	104	4	1,076	351
2025-09-24	$9.28	$7.50	34.8%	10.0%	54.1%	13.1%	45.5%	-11.0%	-3.8%	9.7K	-612.8K	-1.3K	0.07	90.28	387	27	1,076	355
2025-09-25	$9.23	$7.50	34.0%	9.8%	54.4%	12.3%	38.6%	3.2%	-16.6%	13.4K	-714.5K	-1.4K	0.23	18.05	1,082	246	1,233	382
2025-09-26	$9.04	$7.50	32.4%	9.3%	55.5%	10.8%	34.9%	-14.0%	5.0%	30.7K	-833.0K	-2.1K	0.15	77.60	626	94	2,513	559
2025-09-29	$9.07	$7.50	37.3%	10.7%	46.9%	15.3%	37.0%	3.6%	-2.6%	33.6K	-842.6K	-1.9K	0.57	79.55	54	31	2,508	533
2025-09-30	$8.89	$7.50	27.5%	7.9%	47.2%	6.3%	40.3%	4.5%	3.0%	16.9K	-664.8K	-1.6K	0.06	76.70	107	6	2,552	533