GPK Options History — February 2014

In February 2014, GPK traded between $9.30 and $10.57. ATM implied volatility averaged 52.4%, placing in the 31.4% IV rank vs the trailing year. The 30-day expected move averaged 12.9%. IV traded above realized volatility by 31.5% (HV 20d: 21.0%). Max pain ranged from $7.50 to $10.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 0.02.

Notable Days

2014-02-10: Highest Volume — 278 contracts
2014-02-12: Largest IV drop — 67.0% change
2014-02-03: Highest IV Rank — 100.0%
2014-02-06: Largest Expected Move — 39.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$10.12	$9.30	$10.57	$9.30	$10.24
Max Pain	$9.87	$7.50	$10.00	$10.00	$10.00
ATM IV	52.4%	21.9%	136.1%	131.9%	28.6%
Expected Move	12.9%	6.3%	39.0%	37.8%	8.2%
HV 20d	21.0%	16.0%	23.4%	16.5%	22.3%
HV 60d	17.0%	14.6%	17.6%	17.3%	17.5%
IV Rank	31.4%	5.8%	100.0%	100.0%	11.3%
IV Percentile	59.9%	5.6%	100.0%	100.0%	36.9%
Term Structure	-16.3%	-117.4%	10.6%	-106.9%	-0.9%
VWIV	37.7%	24.7%	79.6%	63.6%	27.9%
Skew 25d	19.3%	0.5%	60.1%	0.9%	52.2%
Skew 10d	30.5%	-1.6%	103.1%	1.1%	103.1%
Call IV 25d	36.8%	20.1%	89.3%	28.2%	33.3%
Put IV 25d	56.1%	26.7%	122.0%	29.1%	85.5%
Bid-Ask Spread %	137.02	124.72	151.22	151.22	137.78
Gamma HHI	0.99	0.98	1.00	0.99	0.99
Net GEX	68.2K	62.4K	75.4K	62.4K	67.7K
Net DEX	-1.5M	-2.0M	-933.6K	-933.6K	-1.5M
Net VEX	-5.9K	-6.8K	-5.1K	-6.0K	-5.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.02	0.00	0.16	0.00	0.00
Total Volume	89.263	5	278	269	10
Total OI	2,908.316	2,607	3,241	3,130	2,627

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
2014-02-03	$9.30	$10.00	131.9%	37.8%	16.5%	100.0%	63.6%	0.9%	-106.9%	62.4K	-933.6K	-6.0K	0.00	151.22	269	0	3,019	111
2014-02-04	$9.43	$10.00	64.2%	18.4%	16.0%	42.2%	0.0%	0.6%	-36.4%	65.6K	-1.0M	-6.2K	0.00	132.54	60	0	3,078	111
2014-02-05	$9.45	$10.00	89.1%	25.5%	16.0%	63.4%	79.6%	32.7%	-61.4%	64.7K	-1.1M	-6.4K	0.00	130.37	5	0	3,128	111
2014-02-06	$9.54	$7.50	136.1%	39.0%	16.2%	100.0%	0.0%	0.5%	-117.4%	73.2K	-1.2M	-6.8K	0.00	143.74	222	0	3,130	111
2014-02-07	$9.89	$10.00	47.6%	8.3%	20.3%	27.0%	29.0%	32.4%	-1.6%	72.2K	-1.4M	-6.7K	0.00	124.72	172	0	3,012	111
2014-02-10	$10.18	$10.00	66.7%	8.6%	22.1%	42.8%	29.8%	39.1%	0.7%	73.0K	-1.6M	-6.6K	0.00	129.52	278	0	2,996	111
2014-02-11	$10.22	$10.00	111.1%	8.7%	21.9%	79.4%	0.0%	60.1%	-2.4%	75.4K	-1.7M	-6.5K	0.00	131.40	150	0	2,941	111
2014-02-12	$10.24	$10.00	36.6%	9.4%	21.3%	18.0%	33.0%	4.5%	-4.5%	67.6K	-1.6M	-6.3K	0.07	131.66	107	7	2,839	111
2014-02-13	$10.50	$10.00	34.5%	9.9%	22.4%	16.2%	26.4%	25.5%	3.4%	64.5K	-1.8M	-6.1K	0.00	136.00	110	0	2,822	118
2014-02-14	$10.50	$10.00	32.8%	9.4%	22.1%	14.8%	33.8%	0.8%	-4.7%	68.4K	-1.9M	-6.1K	0.00	135.71	101	0	2,848	118
2014-02-18	$10.57	$10.00	24.8%	7.1%	21.3%	8.2%	0.0%	28.4%	10.6%	73.4K	-2.0M	-5.8K	0.06	141.33	34	2	2,823	118
2014-02-19	$10.37	$10.00	29.8%	8.5%	23.1%	12.3%	29.1%	6.6%	-3.4%	72.8K	-1.8M	-5.9K	0.00	137.42	20	0	2,827	118
2014-02-20	$10.31	$10.00	25.4%	7.3%	23.4%	8.7%	24.7%	32.7%	4.0%	65.5K	-1.6M	-5.3K	0.00	136.06	31	0	2,552	118
2014-02-21	$10.32	$10.00	21.9%	6.3%	23.3%	5.8%	0.0%	31.9%	10.1%	68.5K	-1.6M	-5.3K	0.00	137.00	21	0	2,542	118
2014-02-24	$10.28	$10.00	27.2%	7.8%	22.8%	10.2%	27.9%	2.9%	-2.9%	63.8K	-1.6M	-5.1K	0.16	140.71	61	10	2,489	118
2014-02-25	$10.29	$10.00	30.2%	8.7%	22.4%	12.6%	0.0%	7.2%	-0.9%	63.9K	-1.5M	-5.2K	0.00	146.53	10	0	2,499	118
2014-02-26	$10.30	$10.00	33.2%	9.5%	22.4%	15.1%	0.0%	2.4%	-1.8%	64.0K	-1.6M	-5.2K	0.00	149.18	10	0	2,509	118
2014-02-27	$10.31	$10.00	24.9%	7.1%	22.4%	8.3%	0.0%	5.1%	7.4%	68.8K	-1.5M	-5.1K	0.00	130.45	6	0	2,509	118
2014-02-28	$10.24	$10.00	28.6%	8.2%	22.3%	11.3%	0.0%	52.2%	-0.9%	67.7K	-1.5M	-5.1K	0.00	137.78	10	0	2,509	118