GPK Options History — September 2012

In September 2012, GPK traded between $5.61 and $5.83. ATM implied volatility averaged 57.1%, placing in the 14.7% IV rank vs the trailing year. The 30-day expected move averaged 15.9%. IV traded above realized volatility by 41.9% (HV 20d: 15.2%). Max pain ranged from $5.00 to $5.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 0 of 19 days. Put/call ratio averaged 0.42.

Notable Days

2012-09-13: Highest Volume — 26 contracts
2012-09-11: Largest IV spike — 110.5% change
2012-09-12: Highest IV Rank — 24.3%
2012-09-28: Largest Expected Move — 19.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$5.74	$5.61	$5.83	$5.61	$5.81
Max Pain	$5.00	$5.00	$5.00	$5.00	$5.00
ATM IV	57.1%	32.1%	72.8%	54.9%	69.3%
Expected Move	15.9%	8.5%	19.9%	15.7%	19.9%
HV 20d	15.2%	11.7%	16.5%	14.1%	11.7%
HV 60d	27.5%	24.7%	31.4%	31.4%	24.7%
IV Rank	14.7%	0.0%	24.3%	12.0%	22.2%
IV Percentile	38.4%	0.0%	71.6%	25.2%	71.6%
Term Structure	-15.3%	-19.6%	-6.5%	-18.8%	-19.6%
Bid-Ask Spread %	130.92	110.86	192.59	116.27	122.78
Gamma HHI	0.68	0.51	0.93	0.79	0.65
Net GEX	555	344	868	868	526
Net DEX	-39.7K	-60.2K	-30.2K	-50.7K	-30.4K
Net VEX	-82	-99	-64	-99	-75
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.42	0.00	1.67	0.00	0.00
Total Volume	3.632	0	26	0	4
Total OI	147.105	101	177	177	101

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 Vol	Put Vol	Call OI	Put OI
2012-09-04	$5.61	$5.00	54.9%	15.7%	14.1%	12.0%	0.0%	0.0%	-18.8%	868	-50.7K	-99	0.00	116.27	0	0	146	31
2012-09-05	$5.64	$5.00	49.2%	14.1%	14.2%	8.5%	0.0%	0.0%	0.0%	841	-53.4K	-78	0.00	191.11	0	0	146	31
2012-09-06	$5.70	$5.00	59.2%	17.0%	14.4%	14.6%	0.0%	0.0%	0.0%	733	-58.2K	-64	0.00	192.59	0	0	146	31
2012-09-07	$5.79	$0.00	32.1%	8.5%	15.4%	0.0%	0.0%	0.0%	0.0%	621	-60.2K	-79	0.00	175.41	15	0	146	31
2012-09-10	$5.78	$0.00	32.6%	11.2%	15.4%	0.3%	0.0%	0.0%	-12.7%	644	-51.7K	-75	1.67	111.81	9	15	131	31
2012-09-11	$5.77	$0.00	68.5%	15.7%	15.3%	21.7%	0.0%	0.0%	-14.2%	487	-42.8K	-95	0.00	122.84	0	0	122	46
2012-09-12	$5.75	$0.00	72.8%	15.4%	15.4%	24.3%	0.0%	0.0%	-11.7%	486	-42.5K	-91	0.00	122.36	0	0	122	46
2012-09-13	$5.79	$0.00	55.9%	16.0%	15.4%	14.2%	0.0%	0.0%	-14.0%	513	-40.8K	-98	0.00	122.84	26	0	122	46
2012-09-14	$5.78	$0.00	56.8%	16.3%	15.4%	14.8%	0.0%	0.0%	-16.0%	344	-33.1K	-92	0.00	122.55	0	0	105	46
2012-09-17	$5.68	$0.00	56.9%	16.3%	16.5%	14.8%	0.0%	0.0%	-16.8%	354	-33.1K	-85	0.00	121.65	0	0	107	46
2012-09-18	$5.69	$0.00	57.6%	16.5%	16.5%	15.2%	0.0%	0.0%	-16.0%	349	-31.6K	-87	0.00	121.65	0	0	107	46
2012-09-19	$5.69	$0.00	58.5%	16.8%	16.4%	15.8%	0.0%	0.0%	-14.2%	528	-34.3K	-83	0.00	121.37	0	0	107	46
2012-09-20	$5.68	$0.00	59.7%	17.1%	16.2%	16.4%	0.0%	0.0%	-17.7%	533	-34.2K	-81	0.00	121.65	0	0	107	46
2012-09-21	$5.76	$0.00	61.4%	17.6%	16.0%	17.5%	0.0%	0.0%	-15.6%	523	-35.6K	-82	0.00	122.38	0	0	107	46
2012-09-24	$5.81	$0.00	56.3%	16.1%	16.1%	14.4%	0.0%	0.0%	-19.4%	561	-30.5K	-74	0.00	122.55	0	0	86	15
2012-09-25	$5.83	$0.00	56.9%	16.3%	15.9%	14.8%	0.0%	0.0%	-12.9%	533	-30.9K	-76	0.00	122.53	0	0	86	15
2012-09-26	$5.79	$0.00	59.0%	16.9%	14.9%	16.1%	0.0%	0.0%	-6.5%	575	-30.3K	-72	0.00	122.33	0	0	86	15
2012-09-27	$5.80	$0.00	68.0%	19.5%	14.3%	21.4%	0.0%	0.0%	-18.9%	528	-30.2K	-75	0.00	110.86	0	0	86	15
2012-09-28	$5.81	$0.00	69.3%	19.9%	11.7%	22.2%	0.0%	0.0%	-19.6%	526	-30.4K	-75	0.00	122.78	4	0	86	15