GPK Options History — February 2013

In February 2013, GPK traded between $7.05 and $7.55. ATM implied volatility averaged 33.7%, placing in the 5.2% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded above realized volatility by 13.0% (HV 20d: 20.8%). Max pain ranged from $7.50 to $7.50. Net GEX was positive for 3 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 0.22.

Notable Days

2013-02-11: Highest Volume — 226 contracts
2013-02-04: Largest IV spike — 78.6% change
2013-02-06: Highest IV Rank — 21.3%
2013-02-19: Largest Expected Move — 11.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$7.27	$7.05	$7.55	$7.10	$7.42
Max Pain	$7.50	$7.50	$7.50	$7.50	$7.50
ATM IV	33.7%	23.9%	62.6%	33.3%	23.9%
Expected Move	8.7%	6.9%	11.5%	9.0%	6.9%
HV 20d	20.8%	16.8%	27.0%	20.4%	27.0%
HV 60d	24.3%	22.0%	25.8%	25.8%	25.6%
IV Rank	5.2%	0.0%	21.3%	2.4%	0.0%
IV Percentile	9.8%	0.0%	65.2%	2.8%	0.0%
Term Structure	0.9%	-14.8%	12.3%	0.2%	7.6%
VWIV	23.6%	16.2%	31.2%	22.6%	21.3%
Skew 25d	14.6%	-4.2%	54.3%	2.8%	47.4%
Skew 10d	20.3%	-1.9%	77.9%	4.0%	72.1%
Call IV 25d	30.4%	23.3%	39.1%	23.9%	29.1%
Put IV 25d	45.0%	26.7%	87.2%	26.7%	76.4%
Bid-Ask Spread %	114.81	91.77	131.04	98.18	123.90
Gamma HHI	0.86	0.53	1.00	0.54	1.00
Net GEX	-382	-867	933	-149	-790
Net DEX	-13.7K	-51.6K	24.1K	-5.7K	-19.8K
Net VEX	-754	-844	-646	-704	-765
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.22	0.00	3.04	0.00	0.00
Total Volume	21.105	0	226	15	11
Total OI	695.053	534	784	534	763

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
2013-02-01	$7.10	$7.50	33.3%	9.0%	20.4%	2.4%	0.0%	2.8%	0.2%	-149	-5.7K	-704	0.00	98.18	15	0	282	252
2013-02-04	$7.05	$7.50	59.4%	10.5%	18.5%	19.2%	0.0%	3.4%	-11.9%	-635	2.8K	-646	0.00	111.11	2	0	297	252
2013-02-05	$7.10	$7.50	41.5%	10.6%	16.8%	7.7%	0.0%	3.5%	-4.9%	-141	-14.1K	-711	0.00	91.77	3	0	299	252
2013-02-06	$7.09	$7.50	62.6%	8.4%	16.8%	21.3%	22.6%	3.9%	3.1%	-416	-1.2K	-672	0.00	124.22	35	0	296	252
2013-02-07	$7.15	$7.50	28.9%	8.3%	16.8%	0.0%	31.2%	2.1%	0.8%	598	-14.5K	-711	0.00	103.33	17	0	324	252
2013-02-08	$7.24	$7.50	24.6%	7.1%	17.1%	0.0%	26.1%	0.0%	1.1%	933	-21.9K	-712	0.00	111.81	9	0	327	252
2013-02-11	$7.38	$7.50	32.1%	9.2%	17.9%	4.7%	24.6%	5.0%	-11.6%	714	-46.4K	-738	3.04	104.08	56	170	325	252
2013-02-12	$7.34	$7.50	24.0%	6.9%	18.1%	0.0%	0.0%	5.3%	12.3%	-828	-12.7K	-844	0.00	120.16	0	0	352	422
2013-02-13	$7.48	$7.50	27.3%	7.8%	18.7%	2.1%	0.0%	6.3%	7.9%	-572	-29.6K	-831	0.00	128.30	20	0	362	422
2013-02-14	$7.49	$7.50	26.0%	7.5%	18.7%	1.3%	0.0%	-4.2%	-0.3%	-270	-28.9K	-813	0.00	95.66	4	0	361	422
2013-02-15	$7.55	$7.50	26.6%	7.6%	18.2%	1.6%	16.2%	-3.2%	11.8%	-407	-51.6K	-828	0.00	128.24	40	0	362	422
2013-02-19	$7.42	$7.50	40.1%	11.5%	19.5%	10.0%	0.0%	5.9%	-10.4%	-867	-25.1K	-804	0.00	130.81	0	0	352	422
2013-02-20	$7.16	$7.50	32.0%	9.2%	23.9%	5.0%	0.0%	9.8%	5.8%	-773	24.1K	-733	0.00	123.60	2	0	352	422
2013-02-21	$7.17	$7.50	26.2%	7.5%	23.1%	1.4%	21.3%	4.8%	5.9%	-714	-1.9K	-800	0.00	103.38	6	0	350	422
2013-02-22	$7.35	$7.50	31.1%	8.9%	23.7%	4.4%	0.0%	49.0%	7.8%	-798	-12.7K	-778	0.00	114.94	0	0	349	422
2013-02-25	$7.09	$7.50	39.5%	11.3%	25.9%	9.6%	0.0%	13.5%	-14.8%	-692	9.1K	-749	0.00	131.04	0	0	349	422
2013-02-26	$7.24	$7.50	34.6%	9.9%	26.4%	6.6%	0.0%	54.0%	2.8%	-707	4.1K	-735	0.00	112.43	0	0	349	422
2013-02-27	$7.38	$7.50	27.0%	7.8%	27.0%	1.9%	0.0%	54.3%	4.4%	-743	-14.4K	-761	0.00	124.39	11	0	349	422
2013-02-28	$7.42	$7.50	23.9%	6.9%	27.0%	0.0%	0.0%	47.4%	7.6%	-790	-19.8K	-765	0.00	123.90	11	0	341	422