GPK Options History — April 2013

In April 2013, GPK traded between $7.26 and $7.78. ATM implied volatility averaged 27.7%, placing in the 3.9% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded above realized volatility by 1.4% (HV 20d: 26.3%). Max pain ranged from $7.50 to $7.50. Net GEX was positive for 17 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 1.82.

Notable Days

2013-04-11: Highest Volume — 67 contracts
2013-04-11: Largest IV spike — 47.5% change
2013-04-17: Highest IV Rank — 7.6%
2013-04-17: Largest Expected Move — 9.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$7.49	$7.26	$7.78	$7.41	$7.52
Max Pain	$7.50	$7.50	$7.50	$7.50	$7.50
ATM IV	27.7%	21.5%	33.7%	27.1%	25.5%
Expected Move	8.1%	6.8%	9.7%	7.8%	7.3%
HV 20d	26.3%	16.8%	32.8%	17.4%	32.6%
HV 60d	23.8%	20.5%	26.0%	21.6%	25.9%
IV Rank	3.9%	0.1%	7.6%	3.6%	2.5%
IV Percentile	8.9%	0.4%	20.4%	6.4%	6.8%
Term Structure	1.1%	-8.4%	13.5%	5.4%	2.5%
VWIV	27.1%	16.8%	32.9%	27.2%	22.9%
Skew 25d	24.7%	-0.4%	55.2%	3.7%	38.7%
Skew 10d	44.1%	-3.1%	82.1%	5.0%	58.3%
Call IV 25d	37.6%	30.8%	60.5%	38.2%	60.5%
Put IV 25d	62.3%	36.9%	99.2%	41.9%	99.2%
Bid-Ask Spread %	50.07	21.95	103.15	103.15	28.95
Gamma HHI	0.97	0.85	1.00	0.96	1.00
Net GEX	2.8K	-640	5.9K	2.9K	-374
Net DEX	-42.5K	-162.4K	62.2K	-2.6K	-43.5K
Net VEX	-614	-783	-503	-756	-503
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.82	0.00	25.00	0.00	0.00
Total Volume	12.318	0	67	10	0
Total OI	833.818	604	936	926	627

Daily Data (22 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
2013-04-01	$7.41	$7.50	27.1%	7.8%	17.4%	3.6%	27.2%	3.7%	5.4%	2.9K	-2.6K	-756	0.00	103.15	10	0	452	474
2013-04-02	$7.42	$7.50	29.5%	8.5%	17.0%	5.0%	0.0%	3.9%	-3.6%	3.5K	-23.7K	-783	0.00	94.86	8	0	462	474
2013-04-03	$7.35	$7.50	30.1%	8.6%	17.2%	5.4%	0.0%	-0.4%	2.2%	3.1K	3.5K	-728	0.00	101.84	0	0	454	474
2013-04-04	$7.35	$7.50	26.0%	7.5%	17.1%	2.9%	0.0%	41.1%	7.9%	3.3K	946	-720	0.00	47.78	0	0	454	474
2013-04-05	$7.34	$7.50	24.4%	8.3%	16.8%	1.9%	0.0%	3.0%	0.8%	4.0K	10.3K	-716	0.00	89.70	0	0	454	474
2013-04-08	$7.45	$7.50	29.2%	7.6%	17.4%	4.8%	0.0%	43.0%	-1.5%	4.0K	-8.5K	-698	0.00	33.37	0	0	454	474
2013-04-09	$7.37	$7.50	26.2%	8.4%	17.7%	3.0%	0.0%	6.9%	0.5%	4.5K	-8.4K	-694	0.00	24.18	0	0	454	474
2013-04-10	$7.69	$7.50	21.5%	8.6%	23.5%	0.1%	0.0%	31.4%	-0.5%	5.1K	-124.1K	-664	0.00	29.68	2	0	454	474
2013-04-11	$7.76	$7.50	31.7%	9.1%	23.7%	6.4%	0.0%	27.9%	2.7%	3.9K	-155.8K	-610	0.00	92.84	67	0	456	474
2013-04-12	$7.78	$7.50	31.3%	9.0%	23.6%	6.1%	31.3%	4.6%	-3.5%	3.6K	-162.4K	-603	0.00	21.95	5	0	461	474
2013-04-15	$7.34	$7.50	27.9%	8.0%	31.6%	4.0%	31.3%	3.7%	-0.3%	3.3K	-7.2K	-630	0.17	36.22	24	4	456	474
2013-04-16	$7.41	$7.50	32.0%	9.2%	31.6%	6.6%	0.0%	47.4%	-0.7%	5.9K	-10.8K	-613	0.00	23.09	0	0	452	474
2013-04-17	$7.26	$7.50	33.7%	9.7%	32.4%	7.6%	0.0%	52.6%	-1.3%	3.8K	62.2K	-530	0.14	24.71	21	3	452	474
2013-04-18	$7.36	$7.50	28.7%	8.2%	32.8%	4.6%	28.7%	55.2%	5.8%	5.5K	18.2K	-566	0.00	36.02	5	0	456	477
2013-04-19	$7.38	$7.50	24.8%	7.1%	31.8%	2.2%	25.9%	42.0%	5.1%	5.9K	6.2K	-564	0.00	45.14	1	0	459	477
2013-04-22	$7.56	$7.50	24.9%	7.1%	32.3%	2.2%	16.8%	49.1%	13.5%	-18	-63.7K	-510	2.06	66.40	16	33	288	316
2013-04-23	$7.66	$7.50	28.3%	8.1%	32.4%	4.3%	32.9%	-0.0%	-8.0%	278	-95.4K	-522	0.00	41.90	3	0	304	316
2013-04-24	$7.74	$7.50	24.0%	6.9%	31.5%	1.7%	22.9%	9.0%	0.5%	799	-113.6K	-523	25.00	44.41	1	25	307	316
2013-04-25	$7.58	$7.50	29.9%	8.6%	32.5%	5.2%	0.0%	2.8%	-8.4%	-406	-85.8K	-540	0.00	50.22	14	0	307	341
2013-04-26	$7.61	$7.50	28.1%	8.0%	32.2%	4.1%	0.0%	41.5%	-0.1%	-640	-72.6K	-521	0.00	29.67	1	0	297	341
2013-04-29	$7.49	$7.50	23.8%	6.8%	32.5%	1.5%	0.0%	36.9%	5.2%	-437	-58.1K	-509	0.00	35.37	28	0	297	341
2013-04-30	$7.52	$7.50	25.5%	7.3%	32.6%	2.5%	0.0%	38.7%	2.5%	-374	-43.5K	-503	0.00	28.95	0	0	286	341