GPK Options History — January 2013

In January 2013, GPK traded between $6.55 and $7.01. ATM implied volatility averaged 40.3%, placing in the 6.1% IV rank vs the trailing year. The 30-day expected move averaged 10.6%. IV traded above realized volatility by 15.9% (HV 20d: 24.4%). Max pain ranged from $10.00 to $10.00. Net GEX was positive for 2 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 2.79.

Notable Days

2013-01-15: Highest Volume — 79 contracts
2013-01-30: Largest IV spike — 38.0% change
2013-01-30: Highest IV Rank — 15.4%
2013-01-30: Largest Expected Move — 15.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$6.79	$6.55	$7.01	$6.55	$7.01
Max Pain	$10.00	$10.00	$10.00	$10.00	$10.00
ATM IV	40.3%	29.5%	53.5%	52.6%	53.4%
Expected Move	10.6%	7.3%	15.3%	15.1%	15.3%
HV 20d	24.4%	20.2%	29.8%	29.8%	20.2%
HV 60d	27.1%	25.7%	27.9%	27.0%	25.8%
IV Rank	6.1%	0.0%	15.4%	13.4%	15.3%
IV Percentile	10.8%	0.0%	33.6%	27.2%	33.2%
Term Structure	-3.3%	-32.5%	12.3%	-12.1%	-32.5%
VWIV	55.4%	55.4%	55.4%	55.4%	55.4%
Skew 25d	13.6%	-0.1%	27.1%	15.6%	3.7%
Skew 10d	11.1%	1.3%	28.3%	8.2%	6.1%
Call IV 25d	30.1%	24.6%	46.2%	32.1%	30.1%
Put IV 25d	43.7%	25.2%	62.7%	47.7%	33.8%
Bid-Ask Spread %	107.14	58.45	122.44	107.99	122.44
Gamma HHI	0.77	0.50	0.95	0.94	0.64
Net GEX	-3.7K	-11.1K	62	-7.7K	-432
Net DEX	274.3K	19.3K	485.0K	383.6K	30.0K
Net VEX	-542	-657	-370	-596	-622
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.79	0.00	25.33	0.00	0.00
Total Volume	13.857	0	79	2	45
Total OI	796.048	406	1,064	971	491

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
2013-01-02	$6.55	$10.00	52.6%	15.1%	29.8%	13.4%	0.0%	0.0%	-12.1%	-7.7K	383.6K	-596	0.00	107.99	0	2	174	797
2013-01-03	$6.60	$10.00	47.8%	13.7%	28.9%	10.2%	0.0%	15.6%	-9.3%	-7.9K	393.3K	-569	0.00	103.81	0	0	174	797
2013-01-04	$6.79	$0.00	47.6%	9.3%	27.7%	10.2%	55.4%	24.7%	-0.8%	-11.1K	369.9K	-631	0.00	114.58	11	0	174	797
2013-01-07	$6.66	$10.00	50.2%	9.8%	29.0%	11.8%	0.0%	19.4%	-3.9%	-8.4K	401.5K	-515	0.00	119.41	3	0	185	797
2013-01-08	$6.70	$10.00	50.4%	9.5%	29.0%	12.0%	0.0%	27.1%	-0.5%	-9.0K	394.9K	-564	0.00	98.77	0	0	188	797
2013-01-09	$6.68	$10.00	46.1%	7.3%	28.9%	9.2%	0.0%	17.9%	10.3%	-7.4K	409.9K	-508	0.00	97.63	0	0	188	797
2013-01-10	$6.70	$10.00	34.3%	9.8%	28.5%	1.4%	0.0%	14.0%	5.5%	-8.9K	399.1K	-519	0.00	65.31	0	0	188	797
2013-01-11	$6.72	$10.00	31.6%	9.1%	27.5%	0.0%	0.0%	24.6%	12.3%	-9.0K	401.8K	-501	0.00	105.06	0	0	188	797
2013-01-14	$6.70	$10.00	37.9%	10.9%	21.7%	4.1%	0.0%	0.0%	-2.7%	62	446.3K	-370	0.00	121.57	0	0	188	797
2013-01-15	$6.76	$10.00	35.8%	10.3%	21.4%	2.7%	0.0%	25.1%	-5.2%	28	437.4K	-410	25.33	118.82	3	76	188	797
2013-01-16	$6.76	$10.00	33.0%	9.5%	21.4%	0.9%	0.0%	23.4%	-5.4%	-670	485.0K	-491	0.00	111.77	0	0	191	873
2013-01-17	$6.72	$10.00	31.3%	9.0%	21.7%	0.0%	0.0%	0.0%	10.6%	-771	472.2K	-529	0.00	114.10	0	0	191	873
2013-01-18	$6.83	$10.00	29.5%	8.5%	22.0%	0.0%	0.0%	0.0%	7.9%	-792	480.2K	-517	0.00	58.45	10	0	191	873
2013-01-22	$6.79	$10.00	35.3%	10.1%	21.8%	3.7%	0.0%	2.5%	-9.9%	-862	47.9K	-481	0.00	115.48	5	0	181	225
2013-01-23	$6.92	$10.00	33.7%	9.7%	20.8%	2.7%	0.0%	16.5%	-6.7%	-1.2K	41.9K	-492	2.00	99.99	12	24	181	225
2013-01-24	$6.82	$10.00	33.1%	9.5%	22.0%	2.3%	0.0%	-0.1%	4.2%	-995	52.5K	-526	0.00	106.02	62	0	188	249
2013-01-25	$7.01	$10.00	36.0%	10.3%	23.4%	4.2%	0.0%	9.9%	-9.4%	-364	19.3K	-657	0.00	120.94	0	0	249	249
2013-01-28	$6.93	$10.00	33.7%	9.7%	24.1%	2.7%	0.0%	-0.1%	7.1%	-472	24.9K	-639	0.00	112.79	30	0	249	249
2013-01-29	$6.91	$10.00	38.7%	11.1%	22.7%	5.9%	0.0%	3.2%	2.8%	-296	33.0K	-609	0.60	120.23	5	3	244	249
2013-01-30	$6.95	$10.00	53.5%	15.3%	20.4%	15.4%	0.0%	4.0%	-32.1%	-613	35.3K	-630	0.00	114.80	0	0	239	252
2013-01-31	$7.01	$10.00	53.4%	15.3%	20.2%	15.3%	0.0%	3.7%	-32.5%	-432	30.0K	-622	0.00	122.44	45	0	239	252