GPK Options History — January 2014

In January 2014, GPK traded between $9.17 and $9.50. ATM implied volatility averaged 42.6%, placing in the 32.5% IV rank vs the trailing year. The 30-day expected move averaged 10.4%. IV traded above realized volatility by 28.6% (HV 20d: 14.1%). Max pain ranged from $7.50 to $10.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.16.

Notable Days

2014-01-09: Highest Volume — 285 contracts
2014-01-07: Largest IV spike — 69.4% change
2014-01-29: Highest IV Rank — 79.7%
2014-01-29: Largest Expected Move — 23.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$9.32	$9.17	$9.50	$9.48	$9.50
Max Pain	$9.76	$7.50	$10.00	$7.50	$10.00
ATM IV	42.6%	26.7%	83.0%	31.0%	73.0%
Expected Move	10.4%	7.1%	23.8%	8.9%	20.9%
HV 20d	14.1%	13.2%	15.6%	14.5%	15.0%
HV 60d	20.8%	17.7%	22.4%	21.9%	17.7%
IV Rank	32.5%	13.9%	79.7%	18.9%	68.0%
IV Percentile	70.0%	27.0%	98.4%	49.6%	97.2%
Term Structure	-2.9%	-28.1%	12.7%	12.7%	-18.1%
Skew 25d	12.5%	2.5%	28.2%	2.5%	20.4%
Skew 10d	7.4%	-0.2%	25.3%	5.8%	6.1%
Call IV 25d	34.4%	24.6%	57.7%	35.9%	52.4%
Put IV 25d	47.0%	33.3%	76.8%	38.4%	72.8%
Bid-Ask Spread %	121.68	105.90	139.44	111.41	134.06
Gamma HHI	0.99	0.98	1.00	0.99	1.00
Net GEX	63.1K	56.8K	71.4K	71.4K	61.7K
Net DEX	-1.1M	-1.4M	-946.0K	-1.4M	-1.1M
Net VEX	-6.9K	-8.4K	-6.0K	-8.4K	-6.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.16	0.00	2.94	0.17	0.00
Total Volume	38.81	0	285	69	16
Total OI	3,272.476	3,080	3,562	3,538	3,125

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
2014-01-02	$9.48	$7.50	31.0%	8.9%	14.5%	18.9%	0.0%	2.5%	12.7%	71.4K	-1.4M	-8.4K	0.17	111.41	59	10	3,475	63
2014-01-03	$9.39	$7.50	29.3%	8.4%	14.8%	17.0%	0.0%	28.2%	10.9%	66.9K	-1.4M	-8.2K	0.00	105.90	1	0	3,467	73
2014-01-06	$9.23	$10.00	29.9%	7.1%	14.9%	17.7%	0.0%	3.8%	0.8%	62.8K	-1.2M	-7.7K	0.00	117.87	63	0	3,468	73
2014-01-07	$9.25	$10.00	50.7%	7.8%	14.1%	42.0%	0.0%	11.7%	7.3%	66.9K	-1.1M	-7.6K	0.00	124.13	2	0	3,488	73
2014-01-08	$9.23	$10.00	42.3%	8.1%	14.2%	32.1%	0.0%	7.4%	0.9%	63.7K	-1.2M	-7.6K	0.00	117.75	31	0	3,489	73
2014-01-09	$9.27	$10.00	37.8%	8.0%	14.2%	26.8%	0.0%	16.7%	2.0%	66.6K	-1.1M	-7.5K	0.00	114.00	285	0	3,489	73
2014-01-10	$9.26	$10.00	42.8%	8.1%	13.6%	32.7%	0.0%	12.5%	2.3%	63.6K	-1.1M	-7.0K	0.00	113.86	74	0	3,295	73
2014-01-13	$9.22	$10.00	49.3%	8.3%	13.3%	40.3%	0.0%	8.4%	-2.4%	65.0K	-1.0M	-7.0K	0.00	133.51	1	0	3,275	73
2014-01-14	$9.40	$10.00	58.6%	10.0%	14.9%	51.2%	0.0%	10.7%	5.5%	64.5K	-1.2M	-7.2K	0.00	138.11	26	0	3,274	73
2014-01-15	$9.40	$10.00	48.1%	7.9%	13.6%	38.9%	0.0%	14.9%	4.1%	66.8K	-1.1M	-6.7K	0.00	114.66	0	0	3,065	63
2014-01-16	$9.35	$10.00	30.8%	8.8%	13.3%	18.6%	0.0%	4.3%	-1.4%	60.8K	-1.0M	-6.6K	0.00	113.68	35	0	3,065	63
2014-01-17	$9.25	$10.00	29.6%	8.5%	13.2%	17.2%	0.0%	12.6%	-1.7%	61.1K	-1.0M	-6.5K	0.00	114.86	16	0	3,094	63
2014-01-21	$9.27	$10.00	31.5%	9.0%	13.2%	19.5%	0.0%	17.7%	5.1%	59.7K	-948.3K	-6.2K	0.00	123.12	0	0	3,029	63
2014-01-22	$9.36	$10.00	36.0%	10.3%	13.6%	24.8%	0.0%	10.3%	-6.4%	60.1K	-1.1M	-6.5K	0.00	139.44	20	0	3,029	63
2014-01-23	$9.33	$10.00	26.7%	7.7%	13.5%	13.9%	0.0%	8.6%	-0.0%	59.9K	-1.0M	-6.4K	0.00	122.22	5	0	3,027	63
2014-01-24	$9.23	$10.00	32.9%	9.4%	13.9%	21.0%	0.0%	12.0%	0.2%	62.0K	-979.4K	-6.3K	0.00	117.78	68	0	3,027	63
2014-01-27	$9.17	$10.00	34.2%	9.8%	13.8%	22.7%	0.0%	13.6%	-5.5%	61.1K	-946.8K	-6.0K	2.94	118.70	17	50	3,017	63
2014-01-28	$9.27	$10.00	50.3%	14.4%	14.5%	41.4%	0.0%	17.8%	-28.1%	56.8K	-946.0K	-6.1K	0.00	126.19	3	0	3,013	111
2014-01-29	$9.31	$10.00	83.0%	23.8%	14.1%	79.7%	0.0%	19.1%	-24.4%	58.5K	-1.0M	-6.4K	0.00	130.37	13	0	3,013	111
2014-01-30	$9.48	$10.00	47.6%	13.6%	15.6%	38.3%	0.0%	10.0%	-24.9%	65.7K	-1.1M	-6.3K	0.00	123.54	20	0	3,014	111
2014-01-31	$9.50	$10.00	73.0%	20.9%	15.0%	68.0%	0.0%	20.4%	-18.1%	61.7K	-1.1M	-6.5K	0.00	134.06	16	0	3,014	111