GPK Options History — July 2012

In July 2012, GPK traded between $5.24 and $5.78. ATM implied volatility averaged 68.4%, placing in the 19.6% IV rank vs the trailing year. The 30-day expected move averaged 18.3%. IV traded above realized volatility by 36.6% (HV 20d: 31.8%). Max pain ranged from $5.00 to $7.50. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 0.05.

Notable Days

2012-07-17: Highest Volume — 66 contracts
2012-07-25: Largest IV spike — 152.5% change
2012-07-25: Highest IV Rank — 60.0%
2012-07-25: Largest Expected Move — 38.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$5.51	$5.24	$5.78	$5.59	$5.60
Max Pain	$5.89	$5.00	$7.50	$5.00	$5.00
ATM IV	68.4%	35.1%	133.9%	62.8%	73.1%
Expected Move	18.3%	10.1%	38.4%	18.0%	21.0%
HV 20d	31.8%	25.3%	38.9%	38.9%	33.7%
HV 60d	33.7%	32.4%	36.4%	34.2%	35.9%
IV Rank	19.6%	0.0%	60.0%	15.9%	23.0%
IV Percentile	45.9%	0.0%	90.4%	47.2%	64.4%
Term Structure	-18.8%	-73.6%	7.2%	-8.1%	-22.6%
VWIV	53.6%	39.4%	70.2%	51.1%	70.2%
Bid-Ask Spread %	132.03	109.00	185.17	114.68	120.11
Gamma HHI	0.65	0.50	0.97	0.79	0.70
Net GEX	222	-256	763	-256	763
Net DEX	-23.8K	-56.7K	1.4K	823	-47.0K
Net VEX	-128	-181	-49	-49	-159
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.05	0.00	0.43	0.00	0.00
Total Volume	9.048	0	66	0	6
Total OI	142.19	64	194	64	194

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
2012-07-02	$5.59	$5.00	62.8%	18.0%	38.9%	15.9%	0.0%	0.0%	-8.1%	-256	823	-49	0.00	114.68	0	0	21	43
2012-07-03	$5.59	$5.00	67.6%	19.4%	37.5%	18.8%	0.0%	0.0%	-17.3%	-206	1.4K	-53	0.00	109.00	50	0	21	43
2012-07-05	$5.61	$5.00	71.2%	20.4%	35.7%	21.0%	0.0%	0.0%	-15.8%	72	-18.7K	-116	0.00	114.85	0	0	71	43
2012-07-06	$5.57	$0.00	68.1%	14.2%	35.9%	19.1%	0.0%	0.0%	-20.5%	57	-18.3K	-111	0.00	125.88	0	0	71	43
2012-07-09	$5.48	$0.00	67.9%	15.1%	36.6%	19.0%	0.0%	0.0%	-7.9%	57	-16.4K	-116	0.00	126.87	0	0	71	43
2012-07-10	$5.39	$0.00	80.7%	15.0%	35.2%	26.9%	0.0%	0.0%	-8.4%	33	-14.9K	-116	0.00	130.40	0	0	71	43
2012-07-11	$5.40	$0.00	84.4%	15.2%	29.2%	29.1%	0.0%	0.0%	-8.6%	42	-14.9K	-116	0.00	128.51	0	0	71	43
2012-07-12	$5.37	$0.00	40.2%	11.5%	28.7%	2.0%	0.0%	0.0%	-8.3%	-62	-15.3K	-110	0.00	128.08	1	0	71	43
2012-07-13	$5.46	$0.00	51.7%	14.8%	29.2%	9.1%	0.0%	0.0%	-8.5%	49	-16.5K	-115	0.00	127.51	0	0	72	43
2012-07-16	$5.54	$0.00	55.0%	15.8%	29.5%	11.0%	51.1%	0.0%	-9.6%	47	-18.3K	-110	0.00	127.04	9	0	72	43
2012-07-17	$5.59	$5.00	59.3%	17.0%	29.5%	13.7%	0.0%	0.0%	-12.5%	125	-20.8K	-112	0.43	125.98	46	20	76	43
2012-07-18	$5.59	$7.50	55.9%	16.0%	28.5%	11.6%	0.0%	0.0%	-15.7%	165	-15.2K	-140	0.00	122.50	0	0	102	63
2012-07-19	$5.59	$7.50	56.8%	16.3%	28.4%	12.2%	0.0%	0.0%	-11.6%	199	-20.5K	-141	0.00	124.27	0	0	102	53
2012-07-20	$5.49	$7.50	36.6%	10.5%	25.3%	0.0%	39.4%	0.0%	3.0%	221	-18.1K	-135	0.00	122.71	36	0	102	53
2012-07-23	$5.42	$7.50	35.1%	10.1%	25.7%	0.0%	0.0%	0.0%	7.2%	583	-28.1K	-158	0.00	124.83	12	0	133	53
2012-07-24	$5.25	$7.50	53.0%	15.2%	27.6%	10.9%	0.0%	0.0%	6.2%	593	-24.6K	-171	0.00	123.90	10	0	141	53
2012-07-25	$5.24	$5.00	133.9%	38.4%	27.4%	60.0%	0.0%	0.0%	-73.6%	563	-38.1K	-181	0.00	185.17	0	0	151	43
2012-07-26	$5.58	$5.00	113.7%	32.6%	35.0%	47.7%	0.0%	0.0%	-59.8%	473	-49.9K	-164	0.00	183.11	0	0	151	43
2012-07-27	$5.78	$5.00	102.0%	29.3%	36.8%	40.6%	0.0%	0.0%	-64.5%	431	-56.7K	-160	0.00	181.90	0	0	151	43
2012-07-30	$5.64	$5.00	67.5%	19.3%	34.1%	19.6%	0.0%	0.0%	-39.0%	706	-49.3K	-160	0.00	125.31	0	0	151	43
2012-07-31	$5.60	$5.00	73.1%	21.0%	33.7%	23.0%	70.2%	0.0%	-22.6%	763	-47.0K	-159	0.00	120.11	6	0	151	43