GPK Options History — December 2011

In December 2011, GPK traded between $4.00 and $4.38. ATM implied volatility averaged 76.9%, placing in the 31.7% IV rank vs the trailing year. The 30-day expected move averaged 15.6%. IV traded above realized volatility by 14.2% (HV 20d: 62.7%). Max pain ranged from $5.00 to $5.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 0.00.

Notable Days

2011-12-09: Highest Volume — 10 contracts
2011-12-15: Largest IV drop — 70.3% change
2011-12-14: Highest IV Rank — 96.9%
2011-12-29: Largest Expected Move — 18.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$4.22	$4.00	$4.38	$4.27	$4.26
Max Pain	$5.00	$5.00	$5.00	$5.00	$5.00
ATM IV	76.9%	44.3%	194.1%	57.8%	63.6%
Expected Move	15.6%	12.7%	18.5%	16.6%	18.2%
HV 20d	62.7%	49.3%	68.8%	68.8%	49.3%
HV 60d	72.8%	64.9%	75.9%	73.9%	64.9%
IV Rank	31.7%	13.6%	96.9%	21.1%	24.3%
IV Percentile	37.7%	6.1%	99.1%	22.2%	35.1%
Term Structure	10.7%	-1.4%	22.5%	-0.5%	6.9%
Bid-Ask Spread %	136.97	112.19	192.59	112.19	128.16
Gamma HHI	0.99	0.98	1.00	0.99	1.00
Net GEX	434	212	838	663	382
Net DEX	-9.5K	-15.5K	-2.3K	-15.5K	-9.0K
Net VEX	-48	-75	-10	-75	-43
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	0.476	0	10	0	0
Total OI	96.048	67	122	122	67

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	Spread %	Call Vol	Call OI
2011-12-01	$4.27	$5.00	57.8%	16.6%	68.8%	21.1%	0.0%	0.0%	-0.5%	663	-15.5K	-75	112.19	0	122
2011-12-02	$4.28	$5.00	63.7%	18.3%	67.0%	24.4%	0.0%	0.0%	-1.2%	698	-14.9K	-71	113.58	0	122
2011-12-05	$4.33	$0.00	68.5%	13.3%	66.7%	27.0%	0.0%	0.0%	16.7%	780	-14.8K	-71	125.18	0	122
2011-12-06	$4.38	$0.00	68.6%	13.5%	66.9%	27.1%	0.0%	0.0%	16.7%	838	-15.5K	-70	126.18	0	122
2011-12-07	$4.26	$0.00	77.3%	14.0%	66.4%	32.0%	0.0%	0.0%	22.5%	381	-12.5K	-61	124.00	0	122
2011-12-08	$4.07	$0.00	89.5%	15.5%	62.6%	38.7%	0.0%	0.0%	9.9%	371	-9.0K	-53	124.55	0	122
2011-12-09	$4.36	$0.00	79.8%	13.9%	67.1%	33.4%	0.0%	0.0%	13.5%	417	-13.4K	-65	124.33	10	122
2011-12-12	$4.14	$0.00	123.5%	15.8%	65.6%	57.6%	0.0%	0.0%	18.4%	311	-9.9K	-49	125.45	0	112
2011-12-13	$4.09	$0.00	186.8%	15.8%	63.3%	92.8%	0.0%	0.0%	8.7%	327	-8.2K	-45	123.59	0	112
2011-12-14	$4.00	$0.00	194.1%	17.1%	62.8%	96.9%	0.0%	0.0%	-1.4%	305	-7.1K	-41	125.02	0	112
2011-12-15	$4.18	$0.00	57.7%	16.5%	64.8%	21.1%	0.0%	0.0%	10.1%	328	-8.4K	-44	126.47	0	112
2011-12-16	$4.31	$0.00	52.7%	15.1%	65.5%	18.3%	0.0%	0.0%	15.7%	356	-10.1K	-49	126.33	0	112
2011-12-19	$4.15	$0.00	58.2%	16.7%	65.9%	21.3%	0.0%	0.0%	10.8%	347	-8.6K	-44	125.51	0	67
2011-12-20	$4.20	$0.00	57.1%	16.4%	62.7%	20.7%	0.0%	0.0%	14.3%	391	-7.7K	-41	126.65	0	67
2011-12-21	$4.19	$0.00	55.3%	15.8%	62.4%	19.7%	0.0%	0.0%	14.1%	391	-7.3K	-40	125.18	0	67
2011-12-22	$4.30	$0.00	44.3%	12.7%	62.6%	13.6%	0.0%	0.0%	0.0%	398	-9.8K	-47	191.67	0	67
2011-12-23	$4.30	$0.00	45.1%	12.9%	62.4%	14.0%	0.0%	0.0%	0.0%	427	-4.0K	-24	192.59	0	67
2011-12-27	$4.27	$0.00	49.7%	14.3%	56.9%	16.6%	0.0%	0.0%	0.0%	380	-3.5K	-20	190.91	0	67
2011-12-28	$4.12	$0.00	56.9%	16.3%	56.7%	20.6%	0.0%	0.0%	0.0%	212	-2.3K	-10	190.91	0	67
2011-12-29	$4.22	$0.00	64.6%	18.5%	50.8%	24.9%	0.0%	0.0%	7.3%	404	-7.7K	-39	127.89	0	67
2011-12-30	$4.26	$0.00	63.6%	18.2%	49.3%	24.3%	0.0%	0.0%	6.9%	382	-9.0K	-43	128.16	0	67