Thanks for both of your replies. I think I see what's going on. I set the ejector charge on the motor to trigger at apogee, thinking that the nose cone, shock chord, and the Jolly Logic with the chute would eject at apogee and that the Jolly Logic would keep the chute bound by a rubber band and not allow it to open until 500 ft.
Since there is no deployment at apogee (only an ejection charge), OR must treat the nose cone as still attached to the rocket with the shock cord, Jolly Logic, and chute still inside the rocket. OR must then treat the rocket like a glider and it glides very fast (44 mph horizontally).
To test this I added a very small lightweight streamer so as not to effect the rocket weight or cg, assigned a very high cd (drag coefficient), and deployed it at apogee. The steamer deployed at apogee and the chute at 500 ft. With 0 mph wind velocity the rocket landed only several feet from the launch site.