GPK Options History — May 2014

In May 2014, GPK traded between $10.22 and $10.99. ATM implied volatility averaged 58.9%, placing in the 30.5% IV rank vs the trailing year. The 30-day expected move averaged 8.8%. IV traded above realized volatility by 35.0% (HV 20d: 24.0%). Max pain ranged from $10.00 to $10.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 18 of 21 days. Put/call ratio averaged 0.40.

Notable Days

2014-05-29: Highest Volume — 262 contracts
2014-05-05: Largest IV spike — 374.5% change
2014-05-06: Highest IV Rank — 100.0%
2014-05-01: Largest Expected Move — 26.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$10.55	$10.22	$10.99	$10.22	$10.99
Max Pain	$10.00	$10.00	$10.00	$10.00	$10.00
ATM IV	58.9%	16.7%	177.7%	92.4%	22.3%
Expected Move	8.8%	4.8%	26.5%	26.5%	6.4%
HV 20d	24.0%	22.3%	27.4%	23.8%	23.1%
HV 60d	21.5%	20.5%	22.5%	21.8%	22.4%
IV Rank	30.5%	1.1%	100.0%	64.0%	4.6%
IV Percentile	52.0%	0.8%	100.0%	96.0%	6.0%
Term Structure	-0.2%	-111.2%	17.7%	-111.2%	17.7%
VWIV	21.5%	14.1%	26.4%	20.1%	17.3%
Skew 25d	10.4%	-67.5%	51.7%	2.8%	10.4%
Skew 10d	32.2%	-88.9%	101.7%	11.4%	5.4%
Call IV 25d	35.7%	19.5%	93.2%	30.5%	22.5%
Put IV 25d	46.1%	19.4%	110.1%	33.3%	32.8%
Bid-Ask Spread %	113.49	43.79	153.94	142.91	74.79
Gamma HHI	0.99	0.98	0.99	0.99	0.98
Net GEX	144.3K	61.9K	206.6K	148.4K	61.9K
Net DEX	-3.0M	-4.1M	-2.4M	-2.5M	-4.1M
Net VEX	-4.3K	-5.9K	-1.4K	-5.8K	-1.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.40	0.00	5.33	0.00	0.00
Total Volume	28.762	0	262	0	7
Total OI	4,046.857	3,994	4,117	3,994	4,117

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
2014-05-01	$10.22	$0.00	92.4%	26.5%	23.8%	64.0%	0.0%	2.8%	-111.2%	148.4K	-2.5M	-5.8K	0.00	142.91	0	0	3,903	91
2014-05-02	$10.27	$0.00	26.6%	7.6%	23.8%	9.7%	0.0%	-67.5%	-1.4%	134.5K	-2.4M	-5.9K	0.00	117.14	0	58	3,903	91
2014-05-05	$10.36	$10.00	126.3%	7.3%	22.6%	91.9%	0.0%	45.0%	5.3%	206.6K	-2.5M	-5.3K	0.00	105.75	0	0	3,903	141
2014-05-06	$10.29	$10.00	138.0%	7.1%	22.3%	100.0%	0.0%	25.7%	3.6%	155.6K	-2.5M	-5.6K	0.00	153.94	5	0	3,903	141
2014-05-07	$10.57	$10.00	38.3%	7.0%	24.0%	19.0%	20.1%	16.7%	5.0%	176.9K	-2.9M	-4.9K	0.00	109.78	10	0	3,903	141
2014-05-08	$10.40	$10.00	177.7%	7.3%	24.4%	100.0%	25.2%	-0.8%	0.3%	156.3K	-2.7M	-5.3K	1.07	138.35	28	30	3,903	141
2014-05-09	$10.41	$10.00	122.2%	6.9%	23.0%	65.9%	20.2%	36.8%	5.1%	181.4K	-2.6M	-5.1K	0.00	133.81	50	0	3,904	141
2014-05-12	$10.63	$10.00	84.0%	7.8%	23.3%	42.5%	0.0%	26.0%	10.6%	110.2K	-2.9M	-4.9K	0.00	119.64	0	0	3,914	141
2014-05-13	$10.77	$10.00	21.4%	6.1%	23.5%	4.0%	0.0%	1.7%	14.6%	123.1K	-3.4M	-3.8K	0.00	135.72	5	0	3,914	141
2014-05-14	$10.67	$10.00	78.9%	6.4%	23.1%	39.3%	23.0%	7.6%	2.6%	138.4K	-3.4M	-4.0K	0.00	121.35	4	0	3,919	141
2014-05-15	$10.42	$10.00	21.2%	6.1%	25.0%	3.9%	21.8%	-9.5%	6.2%	179.1K	-2.9M	-4.7K	0.00	113.96	40	0	3,902	141
2014-05-16	$10.51	$10.00	26.0%	7.5%	24.9%	6.9%	26.4%	9.6%	5.3%	181.0K	-2.9M	-4.5K	0.00	43.79	10	0	3,907	141
2014-05-19	$10.69	$10.00	28.8%	8.3%	25.3%	8.6%	21.1%	2.0%	3.5%	135.8K	-3.5M	-3.2K	0.00	114.06	1	0	3,902	141
2014-05-20	$10.39	$10.00	19.8%	5.7%	27.4%	3.0%	24.5%	-5.5%	6.1%	176.3K	-2.8M	-4.4K	0.00	52.12	10	0	3,902	141
2014-05-21	$10.50	$10.00	20.3%	5.8%	27.0%	3.3%	0.0%	2.4%	9.2%	180.4K	-3.2M	-3.7K	0.00	74.61	0	0	3,902	141
2014-05-22	$10.45	$10.00	27.8%	8.0%	23.3%	7.9%	0.0%	-0.8%	1.4%	165.8K	-2.9M	-4.3K	0.00	132.47	4	0	3,902	141
2014-05-23	$10.54	$10.00	40.8%	11.7%	23.4%	16.0%	18.5%	41.9%	8.3%	124.1K	-2.8M	-4.4K	5.33	133.36	3	16	3,906	141
2014-05-27	$10.73	$10.00	16.7%	4.8%	23.7%	1.1%	14.1%	-15.1%	4.6%	96.9K	-3.8M	-1.8K	0.00	117.61	29	0	3,906	157
2014-05-28	$10.78	$10.00	51.3%	14.7%	23.1%	22.4%	21.6%	51.7%	3.1%	105.4K	-3.1M	-3.7K	0.00	129.40	32	0	3,901	157
2014-05-29	$10.90	$10.00	56.5%	16.2%	23.2%	25.5%	25.5%	36.6%	-4.5%	92.8K	-3.2M	-3.7K	0.00	118.67	262	0	3,900	157
2014-05-30	$10.99	$10.00	22.3%	6.4%	23.1%	4.6%	17.3%	10.4%	17.7%	61.9K	-4.1M	-1.4K	0.00	74.79	7	0	3,960	157