GPK Options History — June 2014

In June 2014, GPK traded between $11.10 and $11.76. ATM implied volatility averaged 49.8%, placing in the 21.4% IV rank vs the trailing year. The 30-day expected move averaged 13.8%. IV traded above realized volatility by 31.3% (HV 20d: 18.4%). 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 12 of 21 days. Put/call ratio averaged 0.40.

Notable Days

2014-06-10: Highest Volume — 1,377 contracts
2014-06-23: Largest IV spike — 332.3% change
2014-06-27: Highest IV Rank — 52.5%
2014-06-27: Largest Expected Move — 28.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$11.49	$11.10	$11.76	$11.10	$11.70
Max Pain	$10.00	$10.00	$10.00	$10.00	$10.00
ATM IV	49.8%	17.8%	100.4%	25.5%	77.2%
Expected Move	13.8%	5.1%	28.8%	7.3%	22.1%
HV 20d	18.4%	13.5%	24.6%	23.2%	13.8%
HV 60d	22.0%	20.6%	23.1%	22.5%	20.6%
IV Rank	21.4%	1.8%	52.5%	6.5%	38.3%
IV Percentile	57.5%	0.8%	96.0%	14.3%	88.1%
Term Structure	-5.8%	-72.9%	13.6%	-3.9%	-17.2%
VWIV	31.7%	27.2%	37.7%	27.2%	37.7%
Skew 25d	6.1%	-16.4%	63.5%	-2.5%	37.3%
Skew 10d	10.9%	-8.5%	62.0%	1.6%	-8.5%
Call IV 25d	37.5%	18.2%	106.7%	23.0%	106.7%
Put IV 25d	43.6%	20.5%	143.9%	20.5%	143.9%
Bid-Ask Spread %	117.31	16.83	152.09	104.61	135.12
Gamma HHI	0.87	0.50	0.99	0.98	0.99
Net GEX	48.7K	24.9K	84.9K	73.2K	26.5K
Net DEX	-3.1M	-4.7M	-620.5K	-4.0M	-653.4K
Net VEX	-3.3K	-5.0K	-1.5K	-1.8K	-3.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.40	0.00	3.56	3.56	0.00
Total Volume	111.476	0	1,377	114	15
Total OI	3,665.952	1,433	5,005	4,119	1,451

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
2014-06-02	$11.10	$10.00	25.5%	7.3%	23.2%	6.5%	27.2%	-2.5%	-3.9%	73.2K	-4.0M	-1.8K	3.56	104.61	25	89	3,962	157
2014-06-03	$11.37	$10.00	70.9%	20.3%	24.3%	34.4%	30.2%	1.3%	9.3%	72.7K	-3.7M	-2.9K	0.00	121.94	426	0	3,963	240
2014-06-04	$11.24	$10.00	35.2%	10.1%	24.6%	12.5%	0.0%	7.8%	-9.9%	73.4K	-3.9M	-2.2K	0.00	120.35	1	0	3,922	240
2014-06-05	$11.41	$10.00	28.8%	8.3%	23.5%	8.5%	37.7%	4.0%	5.4%	53.9K	-3.9M	-1.5K	0.00	108.92	7	0	3,743	240
2014-06-06	$11.46	$10.00	27.4%	6.4%	22.3%	7.7%	0.0%	-0.3%	3.1%	52.0K	-3.9M	-1.5K	0.00	110.11	3	0	3,738	240
2014-06-09	$11.45	$10.00	81.3%	14.8%	22.4%	40.8%	0.0%	-0.1%	13.6%	60.1K	-3.3M	-2.7K	2.00	141.79	5	10	3,738	240
2014-06-10	$11.42	$10.00	43.9%	6.9%	21.7%	17.8%	0.0%	6.7%	5.7%	63.3K	-3.7M	-1.8K	0.00	111.86	1,377	0	3,738	250
2014-06-11	$11.36	$10.00	36.4%	16.8%	21.6%	13.2%	0.0%	6.2%	-0.1%	82.2K	-4.2M	-4.4K	0.00	110.04	52	0	4,739	250
2014-06-12	$11.28	$10.00	59.9%	17.2%	21.4%	27.7%	0.0%	0.0%	0.6%	83.2K	-4.1M	-4.2K	0.00	127.81	25	0	4,715	250
2014-06-13	$11.38	$10.00	21.9%	6.3%	19.1%	4.3%	0.0%	-0.7%	3.2%	53.6K	-4.4M	-3.8K	0.00	99.98	8	0	4,740	250
2014-06-16	$11.47	$10.00	56.0%	16.0%	19.0%	25.2%	0.0%	6.2%	8.2%	84.9K	-3.8M	-5.0K	2.50	134.72	12	30	4,737	250
2014-06-17	$11.57	$10.00	57.1%	16.4%	18.5%	25.9%	0.0%	4.1%	0.2%	37.1K	-4.5M	-3.8K	0.00	150.48	4	0	4,725	280
2014-06-18	$11.63	$10.00	30.6%	8.8%	14.0%	9.6%	0.0%	0.7%	-4.6%	25.5K	-4.6M	-3.8K	0.00	124.16	31	0	4,724	280
2014-06-19	$11.66	$10.00	30.2%	8.7%	13.9%	9.4%	0.0%	7.7%	-4.7%	24.9K	-4.6M	-3.8K	0.00	122.31	27	0	4,715	280
2014-06-20	$11.76	$10.00	17.8%	5.1%	13.5%	1.8%	0.0%	5.9%	9.8%	25.4K	-4.7M	-3.8K	0.00	16.83	124	0	4,693	280
2014-06-23	$11.64	$10.00	77.2%	22.1%	14.6%	38.3%	0.0%	-16.4%	-36.6%	26.3K	-628.5K	-3.8K	0.00	127.82	10	0	1,283	150
2014-06-24	$11.62	$10.00	60.6%	17.4%	13.9%	28.1%	0.0%	7.3%	6.0%	25.0K	-657.2K	-3.8K	0.00	124.45	20	0	1,283	150
2014-06-25	$11.66	$10.00	83.5%	23.9%	13.9%	42.1%	0.0%	-5.1%	-40.0%	27.1K	-639.7K	-3.8K	0.00	152.09	37	0	1,303	150
2014-06-26	$11.60	$10.00	23.4%	6.7%	14.0%	5.2%	0.0%	-5.3%	3.8%	26.3K	-620.5K	-3.6K	0.00	80.95	0	0	1,298	150
2014-06-27	$11.61	$10.00	100.4%	28.8%	13.9%	52.5%	0.0%	63.5%	-72.9%	26.8K	-641.4K	-3.7K	0.00	137.24	3	0	1,298	150
2014-06-30	$11.70	$10.00	77.2%	22.1%	13.8%	38.3%	0.0%	37.3%	-17.2%	26.5K	-653.4K	-3.7K	0.00	135.12	15	0	1,301	150