GPK Options History — November 2012

In November 2012, GPK traded between $5.88 and $6.49. ATM implied volatility averaged 74.5%, placing in the 26.2% IV rank vs the trailing year. The 30-day expected move averaged 13.1%. IV traded above realized volatility by 45.0% (HV 20d: 29.4%). 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 8 of 21 days. Put/call ratio averaged 1.25.

Notable Days

2012-11-14: Highest Volume — 77 contracts
2012-11-15: Largest IV drop — 67.0% change
2012-11-13: Highest IV Rank — 94.5%
2012-11-01: Largest Expected Move — 21.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$6.18	$5.88	$6.49	$6.00	$6.49
Max Pain	$5.00	$5.00	$5.00	$5.00	$5.00
ATM IV	74.5%	34.0%	185.2%	75.2%	46.1%
Expected Move	13.1%	9.6%	21.5%	21.5%	13.2%
HV 20d	29.4%	24.7%	34.5%	25.1%	27.5%
HV 60d	21.2%	18.1%	23.3%	18.1%	22.5%
IV Rank	26.2%	1.2%	94.5%	26.6%	8.7%
IV Percentile	48.7%	0.8%	99.2%	84.0%	11.6%
Term Structure	-6.0%	-47.1%	15.5%	-47.1%	0.2%
VWIV	47.9%	30.0%	81.7%	81.7%	51.1%
Skew 25d	6.2%	5.3%	7.1%	5.3%	7.1%
Skew 10d	5.6%	4.0%	9.2%	4.0%	9.2%
Call IV 25d	32.7%	31.8%	33.1%	32.9%	31.8%
Put IV 25d	38.9%	38.2%	39.6%	38.2%	38.9%
Bid-Ask Spread %	123.49	87.00	182.39	111.14	182.34
Gamma HHI	0.61	0.50	0.97	0.51	0.67
Net GEX	597	186	1.1K	716	314
Net DEX	-39.8K	-65.8K	-5.1K	-50.6K	-48.3K
Net VEX	-185	-379	-56	-62	-379
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.25	0.00	14.40	0.00	0.00
Total Volume	14.714	0	77	17	0
Total OI	232.381	147	331	147	331

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
2012-11-01	$6.00	$5.00	75.2%	21.5%	25.1%	26.6%	81.7%	0.0%	-47.1%	716	-50.6K	-62	0.00	111.14	17	0	132	15
2012-11-02	$6.02	$5.00	66.4%	19.0%	24.7%	21.2%	0.0%	0.0%	-27.8%	676	-51.1K	-59	0.00	109.91	20	0	132	15
2012-11-05	$6.11	$5.00	93.4%	13.5%	25.1%	37.9%	0.0%	0.0%	-3.3%	911	-62.0K	-77	0.00	118.48	0	0	152	15
2012-11-06	$6.13	$5.00	84.8%	10.6%	25.1%	32.5%	0.0%	0.0%	8.1%	680	-65.8K	-56	0.00	107.04	30	0	152	15
2012-11-07	$5.91	$5.00	94.8%	10.6%	28.7%	38.7%	0.0%	0.0%	15.5%	1.0K	-63.9K	-98	0.00	118.97	0	0	182	15
2012-11-08	$5.88	$5.00	84.0%	9.6%	28.8%	32.0%	0.0%	0.0%	11.7%	953	-63.2K	-78	0.00	108.16	0	0	182	15
2012-11-09	$6.01	$5.00	115.0%	13.6%	29.7%	51.2%	36.9%	0.0%	0.5%	1.1K	-63.0K	-97	0.00	120.76	20	0	182	15
2012-11-12	$6.11	$5.00	114.1%	10.8%	29.7%	50.6%	30.0%	0.0%	6.1%	737	-57.3K	-73	0.00	106.40	10	0	162	15
2012-11-13	$6.24	$5.00	185.2%	14.5%	30.2%	94.5%	39.9%	0.0%	-0.6%	931	-59.0K	-91	0.00	119.50	20	0	162	15
2012-11-14	$6.23	$5.00	173.5%	13.6%	30.3%	87.3%	0.0%	0.0%	-11.5%	796	-48.0K	-83	14.40	109.65	5	72	142	15
2012-11-15	$6.03	$5.00	57.3%	16.4%	32.1%	15.6%	0.0%	0.0%	-16.1%	380	-13.6K	-206	0.00	118.15	0	0	147	87
2012-11-16	$6.03	$5.00	51.6%	14.8%	32.1%	12.1%	0.0%	0.0%	-23.5%	186	-5.4K	-155	0.00	110.70	0	0	147	87
2012-11-19	$6.27	$5.00	34.0%	9.8%	34.5%	1.2%	51.1%	5.3%	7.4%	255	-8.2K	-210	0.54	87.00	37	20	130	87
2012-11-20	$6.30	$5.00	40.6%	11.6%	33.7%	5.2%	0.0%	0.0%	-11.5%	387	-5.1K	-272	0.00	108.46	10	0	166	107
2012-11-21	$6.31	$5.00	43.4%	12.4%	33.4%	7.0%	0.0%	5.9%	-11.8%	526	-10.1K	-288	0.07	115.17	30	2	176	107
2012-11-23	$6.35	$5.00	36.8%	10.5%	32.9%	2.9%	0.0%	6.5%	1.0%	577	-25.1K	-308	0.00	103.32	0	0	206	109
2012-11-26	$6.34	$5.00	34.0%	9.7%	32.9%	1.2%	0.0%	7.1%	0.2%	517	-22.0K	-269	0.00	94.34	1	0	206	109
2012-11-27	$6.30	$5.00	38.7%	11.1%	27.1%	4.1%	0.0%	0.0%	0.0%	302	-36.8K	-343	0.00	179.13	0	0	207	109
2012-11-28	$6.39	$5.00	46.8%	13.4%	27.2%	9.1%	0.0%	0.0%	0.0%	266	-39.8K	-344	0.00	182.39	0	0	207	109
2012-11-29	$6.38	$5.00	48.0%	13.8%	27.3%	9.8%	0.0%	0.0%	0.0%	236	-37.5K	-330	0.00	182.34	15	0	207	109
2012-11-30	$6.49	$5.00	46.1%	13.2%	27.5%	8.7%	0.0%	0.0%	0.0%	314	-48.3K	-379	0.00	182.34	0	0	222	109