KXI Options History — November 2014

In November 2014, KXI traded between $44.64 and $46.48. ATM implied volatility averaged 7.6%, placing in the 5.2% IV rank vs the trailing year. The 30-day expected move averaged 2.9%. IV traded below realized volatility by 2.0% (HV 20d: 9.7%). Max pain ranged from $45.50 to $46.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 17 of 19 days. Put/call ratio averaged 1.23.

Notable Days

2014-11-03: Highest Volume — 120 contracts
2014-11-28: Largest IV spike — 45.5% change
2014-11-28: Highest IV Rank — 10.1%
2014-11-05: Largest Expected Move — 3.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$45.51	$44.64	$46.48	$44.64	$46.48
Max Pain	$45.82	$45.50	$46.00	$46.00	$45.50
ATM IV	7.6%	6.4%	10.0%	8.9%	10.0%
Expected Move	2.9%	2.7%	3.1%	3.1%	2.9%
HV 20d	9.7%	6.9%	15.1%	15.1%	6.9%
HV 60d	10.9%	10.8%	11.1%	10.9%	11.1%
IV Rank	5.2%	2.5%	10.1%	7.9%	10.1%
IV Percentile	13.8%	1.6%	59.9%	29.4%	59.9%
Term Structure	1.1%	-0.6%	2.2%	0.6%	-0.2%
VWIV	10.1%	9.2%	10.5%	10.5%	10.3%
Skew 25d	2.2%	-0.4%	3.5%	3.1%	-0.4%
Skew 10d	2.8%	-1.9%	6.7%	3.2%	-1.9%
Call IV 25d	8.3%	7.3%	10.5%	9.1%	10.5%
Put IV 25d	10.5%	7.9%	12.2%	12.2%	10.1%
Bid-Ask Spread %	46.01	40.76	49.97	45.36	46.66
Gamma HHI	0.25	0.21	0.32	0.21	0.31
Net GEX	20.6K	7.9K	28.9K	21.4K	7.9K
Net DEX	-332.4K	-444.5K	-193.9K	-193.9K	-444.5K
Net VEX	-886	-1.2K	-596	-1.2K	-596
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.23	0.00	1.57	1.50	0.00
Total Volume	82.632	0	120	120	0
Total OI	218.211	164	230	220	220

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2014-11-03	$44.64	$46.00	8.9%	3.1%	15.1%	7.9%	10.5%	3.1%	0.6%	21.4K	-193.9K	-1.2K	1.50	45.36	N/A	N/A	48	72	128	92
2014-11-04	$44.74	$46.00	9.1%	3.1%	14.7%	8.1%	9.2%	3.5%	0.2%	22.5K	-218.8K	-1.2K	1.29	48.17	N/A	N/A	48	62	128	92
2014-11-05	$45.06	$46.00	8.8%	3.1%	13.8%	7.7%	10.4%	2.9%	0.9%	22.6K	-248.2K	-1.2K	1.29	40.76	N/A	N/A	48	62	128	92
2014-11-06	$45.06	$46.00	8.4%	3.0%	12.4%	6.8%	10.1%	2.9%	1.1%	25.1K	-242.1K	-1.2K	1.29	46.56	N/A	N/A	48	62	128	92
2014-11-07	$45.05	$46.00	7.2%	3.0%	12.4%	4.2%	9.8%	3.4%	1.2%	27.5K	-256.7K	-1.1K	1.29	49.97	N/A	N/A	48	62	128	92
2014-11-10	$45.27	$46.00	7.1%	2.8%	10.6%	4.1%	9.7%	3.2%	1.3%	26.4K	-287.9K	-1.0K	1.29	42.33	N/A	N/A	48	62	128	92
2014-11-11	$45.45	$46.00	6.4%	2.9%	10.6%	2.5%	10.0%	2.0%	0.8%	18.1K	-254.2K	-762	1.29	48.32	N/A	N/A	48	62	102	62
2014-11-12	$45.28	$46.00	7.9%	2.7%	9.8%	5.7%	9.7%	2.6%	1.3%	25.6K	-300.5K	-984	1.29	45.80	N/A	N/A	48	62	128	92
2014-11-13	$45.54	$46.00	7.6%	2.9%	8.6%	5.1%	10.1%	2.4%	1.1%	22.7K	-359.9K	-842	1.29	43.87	N/A	N/A	48	62	128	92
2014-11-14	$45.33	$46.00	7.0%	2.8%	8.1%	3.8%	0.0%	3.4%	1.9%	28.9K	-333.9K	-860	0.00	44.05	N/A	N/A	0	0	128	92
2014-11-17	$45.48	$46.00	7.5%	2.8%	7.5%	4.8%	10.0%	2.8%	1.1%	26.8K	-340.2K	-864	1.29	46.28	N/A	N/A	48	62	128	92
2014-11-18	$45.78	$46.00	7.1%	2.7%	7.6%	4.0%	10.3%	2.8%	1.3%	19.0K	-383.7K	-783	1.15	45.84	N/A	N/A	54	62	128	92
2014-11-19	$45.91	$45.50	7.5%	2.9%	7.5%	4.8%	0.0%	1.3%	1.3%	19.2K	-420.9K	-770	0.00	42.92	N/A	N/A	0	0	134	92
2014-11-20	$45.70	$45.50	8.1%	2.9%	7.8%	6.1%	10.4%	1.3%	-0.6%	22.2K	-376.2K	-846	1.22	48.26	N/A	N/A	54	66	134	92
2014-11-21	$45.91	$45.50	6.6%	2.7%	7.8%	3.1%	10.4%	1.7%	1.8%	16.3K	-431.0K	-720	1.38	42.53	N/A	N/A	48	66	134	96
2014-11-24	$45.89	$45.50	6.4%	2.7%	7.8%	2.5%	0.0%	0.6%	2.2%	13.7K	-402.9K	-674	0.00	47.96	N/A	N/A	0	0	124	96
2014-11-25	$46.02	$45.50	6.7%	2.7%	7.4%	3.1%	10.3%	1.7%	2.2%	13.5K	-400.3K	-680	1.57	49.42	N/A	N/A	42	66	124	96
2014-11-26	$46.14	$45.50	6.9%	2.7%	7.0%	3.5%	0.0%	0.4%	1.9%	11.3K	-419.4K	-635	0.00	49.06	N/A	N/A	2	0	124	96
2014-11-28	$46.48	$45.50	10.0%	2.9%	6.9%	10.1%	0.0%	-0.4%	-0.2%	7.9K	-444.5K	-596	0.00	46.66	N/A	N/A	0	0	124	96