GPK Options History — December 2013

In December 2013, GPK traded between $8.97 and $9.60. ATM implied volatility averaged 38.7%, placing in the 27.9% IV rank vs the trailing year. The 30-day expected move averaged 9.6%. IV traded above realized volatility by 23.2% (HV 20d: 15.5%). Max pain ranged from $7.50 to $7.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 4 of 21 days. Put/call ratio averaged 0.02.

Notable Days

2013-12-02: Highest Volume — 3,291 contracts
2013-12-11: Largest IV spike — 96.3% change
2013-12-11: Highest IV Rank — 86.9%
2013-12-03: Largest Expected Move — 10.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$9.24	$8.97	$9.60	$9.00	$9.60
Max Pain	$7.50	$7.50	$7.50	$7.50	$7.50
ATM IV	38.7%	30.1%	89.1%	33.9%	30.1%
Expected Move	9.6%	6.2%	10.8%	9.7%	8.6%
HV 20d	15.5%	13.1%	27.9%	27.9%	13.3%
HV 60d	23.3%	21.8%	24.0%	23.7%	21.8%
IV Rank	27.9%	17.9%	86.9%	22.3%	17.9%
IV Percentile	65.0%	45.6%	99.2%	60.7%	45.6%
Term Structure	-3.2%	-10.8%	11.7%	7.3%	11.7%
VWIV	34.8%	21.0%	55.0%	24.6%	21.0%
Skew 25d	19.8%	-5.6%	99.9%	-2.0%	59.2%
Skew 10d	18.3%	-18.5%	123.5%	-3.5%	81.6%
Call IV 25d	33.6%	20.8%	38.1%	31.8%	30.6%
Put IV 25d	53.4%	25.8%	136.3%	29.8%	89.9%
Bid-Ask Spread %	115.91	95.91	140.09	129.27	140.09
Gamma HHI	0.98	0.83	1.00	0.83	1.00
Net GEX	58.9K	8.3K	73.2K	8.3K	73.2K
Net DEX	-1.3M	-1.4M	-214.2K	-214.2K	-1.4M
Net VEX	-8.2K	-9.0K	-797	-797	-8.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.02	0.00	0.15	0.00	0.00
Total Volume	220.19	0	3,291	3,291	57
Total OI	3,652.476	734	4,072	734	3,513

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
2013-12-02	$9.00	$7.50	33.9%	9.7%	27.9%	22.3%	24.6%	-2.0%	7.3%	8.3K	-214.2K	-797	0.00	129.27	3,290	1	620	114
2013-12-03	$9.04	$7.50	37.8%	10.8%	23.1%	26.8%	0.0%	4.5%	-1.4%	48.1K	-1.3M	-8.4K	0.05	135.95	190	10	3,517	115
2013-12-04	$9.12	$7.50	36.4%	10.4%	20.2%	25.2%	0.0%	9.8%	-5.7%	52.5K	-1.3M	-8.5K	0.15	137.17	82	12	3,621	125
2013-12-05	$8.97	$7.50	37.1%	10.6%	21.4%	26.0%	0.0%	-5.1%	-7.5%	50.7K	-1.2M	-8.2K	0.07	127.49	136	10	3,623	137
2013-12-06	$9.10	$7.50	38.5%	6.2%	15.1%	27.6%	0.0%	7.4%	9.3%	55.9K	-1.2M	-8.5K	0.15	95.91	68	10	3,749	147
2013-12-09	$9.12	$7.50	59.1%	10.2%	13.3%	51.8%	55.0%	-1.0%	-4.6%	56.1K	-1.3M	-8.6K	0.05	110.28	196	10	3,719	157
2013-12-10	$9.13	$7.50	45.4%	9.3%	13.2%	35.8%	0.0%	6.1%	-8.0%	60.3K	-1.3M	-8.8K	0.00	108.85	58	0	3,899	167
2013-12-11	$9.03	$7.50	89.1%	9.4%	13.7%	86.9%	0.0%	4.7%	-7.3%	61.4K	-1.2M	-9.0K	0.00	112.05	74	0	3,905	167
2013-12-12	$9.12	$7.50	34.6%	9.9%	13.9%	23.1%	0.0%	1.4%	-3.9%	59.1K	-1.3M	-8.8K	0.00	106.53	30	0	3,841	167
2013-12-13	$9.12	$7.50	36.3%	10.4%	13.9%	25.1%	0.0%	7.8%	-10.8%	60.9K	-1.3M	-8.8K	0.00	112.25	15	0	3,826	167
2013-12-16	$9.28	$7.50	35.5%	10.2%	13.3%	24.2%	0.0%	94.0%	-10.8%	63.3K	-1.3M	-8.9K	0.00	111.82	102	0	3,811	167
2013-12-17	$9.19	$7.50	33.8%	9.7%	14.1%	22.2%	0.0%	-0.1%	-9.6%	64.7K	-1.3M	-8.5K	0.00	109.34	5	0	3,723	167
2013-12-18	$9.30	$7.50	36.6%	10.5%	14.1%	25.5%	0.0%	97.0%	-9.3%	62.7K	-1.3M	-8.6K	0.00	116.88	28	0	3,723	167
2013-12-19	$9.31	$7.50	32.6%	9.3%	14.1%	20.7%	0.0%	5.9%	-4.3%	64.4K	-1.3M	-8.6K	0.00	113.61	56	0	3,701	167
2013-12-20	$9.36	$7.50	33.0%	9.5%	13.6%	21.3%	0.0%	99.9%	-3.8%	62.3K	-1.4M	-8.7K	0.00	107.03	25	0	3,699	167
2013-12-23	$9.39	$7.50	36.2%	10.4%	13.6%	25.0%	0.0%	7.1%	-5.4%	65.2K	-1.3M	-8.6K	0.00	114.09	58	0	3,539	63
2013-12-24	$9.44	$7.50	30.3%	8.7%	13.4%	18.1%	0.0%	7.4%	1.1%	65.0K	-1.3M	-8.6K	0.00	105.03	0	0	3,532	63
2013-12-26	$9.49	$7.50	30.2%	8.7%	13.4%	17.9%	0.0%	-5.6%	-0.9%	65.2K	-1.4M	-8.6K	0.00	106.84	12	0	3,532	63
2013-12-27	$9.47	$7.50	30.8%	8.8%	13.1%	18.7%	38.4%	21.2%	-1.7%	67.1K	-1.4M	-8.7K	0.00	124.48	64	0	3,521	63
2013-12-30	$9.56	$7.50	34.6%	9.9%	13.3%	23.1%	0.0%	-3.1%	-2.3%	70.7K	-1.4M	-8.4K	0.00	109.23	25	0	3,475	63
2013-12-31	$9.60	$7.50	30.1%	8.6%	13.3%	17.9%	21.0%	59.2%	11.7%	73.2K	-1.4M	-8.3K	0.00	140.09	57	0	3,450	63