GPK Options History — November 2014

In November 2014, GPK traded between $11.88 and $12.65. ATM implied volatility averaged 30.8%, placing in the 9.5% IV rank vs the trailing year. The 30-day expected move averaged 7.6%. IV traded below realized volatility by 2.5% (HV 20d: 33.3%). Max pain ranged from $10.00 to $12.50. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 0.34.

Notable Days

2014-11-25: Highest Volume — 542 contracts
2014-11-04: Largest IV spike — 283.4% change
2014-11-04: Highest IV Rank — 36.8%
2014-11-17: Largest Expected Move — 8.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$12.28	$11.88	$12.65	$12.20	$12.45
Max Pain	$10.39	$10.00	$12.50	$10.00	$12.50
ATM IV	30.8%	19.5%	74.8%	19.5%	31.7%
Expected Move	7.6%	6.9%	8.0%	7.9%	7.4%
HV 20d	33.3%	22.5%	42.5%	42.5%	22.5%
HV 60d	28.0%	27.4%	28.7%	27.6%	28.7%
IV Rank	9.5%	2.9%	36.8%	2.9%	9.7%
IV Percentile	34.9%	4.8%	83.3%	4.8%	48.8%
Term Structure	-3.4%	-33.8%	7.4%	7.4%	-32.6%
VWIV	27.1%	22.2%	34.1%	25.4%	26.6%
Skew 25d	3.7%	-12.6%	86.4%	5.3%	-12.6%
Skew 10d	5.0%	-18.2%	131.7%	-4.8%	-0.5%
Call IV 25d	32.0%	21.1%	61.9%	51.7%	41.0%
Put IV 25d	35.7%	21.0%	111.8%	57.0%	28.5%
Bid-Ask Spread %	110.15	80.52	135.02	109.42	135.02
Gamma HHI	0.94	0.92	0.96	0.95	0.94
Net GEX	169.5K	124.0K	236.4K	134.6K	172.4K
Net DEX	-2.0M	-2.5M	-1.6M	-2.0M	-2.2M
Net VEX	-7.1K	-7.9K	-6.3K	-7.6K	-6.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.34	0.00	0.67	0.14	0.00
Total Volume	179.421	5	542	326	5
Total OI	3,614.684	3,499	4,011	3,499	3,831

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
2014-11-03	$12.20	$10.00	19.5%	7.9%	42.5%	2.9%	25.4%	5.3%	7.4%	134.6K	-2.0M	-7.6K	0.14	109.42	287	39	3,444	55
2014-11-04	$12.30	$10.00	74.8%	7.5%	42.1%	36.8%	28.9%	-7.9%	-33.8%	133.7K	-2.0M	-7.8K	0.17	111.33	232	39	3,537	55
2014-11-05	$12.50	$10.00	47.7%	7.7%	42.1%	20.2%	29.4%	10.8%	-14.7%	139.4K	-2.2M	-7.9K	0.28	108.91	152	43	3,504	55
2014-11-06	$12.62	$10.00	31.5%	7.9%	39.2%	10.2%	24.9%	-7.6%	-8.7%	171.2K	-2.3M	-7.8K	0.29	103.97	150	43	3,513	65
2014-11-07	$12.65	$10.00	27.5%	7.6%	39.0%	7.7%	26.7%	1.8%	3.0%	163.2K	-2.5M	-7.7K	0.67	80.52	64	43	3,506	65
2014-11-10	$12.48	$10.00	41.3%	7.0%	35.8%	16.3%	25.2%	2.4%	6.5%	217.5K	-2.3M	-7.5K	0.67	111.92	64	43	3,516	65
2014-11-11	$12.31	$10.00	30.9%	6.9%	36.4%	9.8%	22.2%	-2.5%	5.7%	211.8K	-2.2M	-7.3K	0.58	112.82	74	43	3,514	46
2014-11-12	$12.44	$10.00	30.1%	7.6%	36.4%	9.4%	28.6%	86.4%	-0.3%	160.2K	-2.1M	-7.3K	0.44	105.31	109	48	3,523	65
2014-11-13	$12.29	$10.00	23.3%	7.1%	36.6%	5.2%	23.3%	-0.0%	1.3%	168.6K	-1.8M	-7.1K	0.37	107.49	116	43	3,502	75
2014-11-14	$11.88	$10.00	22.5%	7.6%	38.8%	4.7%	0.0%	-1.2%	3.5%	164.8K	-1.8M	-6.8K	0.00	121.42	25	0	3,501	80
2014-11-17	$11.94	$10.00	31.6%	8.0%	38.8%	10.3%	26.3%	-3.4%	-3.9%	124.0K	-1.6M	-6.7K	0.53	105.69	90	48	3,497	80
2014-11-18	$12.05	$10.00	24.8%	8.0%	29.0%	5.4%	26.9%	1.6%	1.9%	149.4K	-1.6M	-6.7K	0.53	105.13	90	48	3,483	80
2014-11-19	$11.95	$10.00	26.5%	7.7%	26.6%	6.4%	27.0%	-1.6%	-0.8%	147.6K	-1.7M	-6.6K	0.00	114.74	52	0	3,482	80
2014-11-20	$12.07	$10.00	27.4%	7.8%	26.5%	7.0%	31.4%	0.0%	-2.9%	139.0K	-1.7M	-6.6K	0.40	115.27	119	48	3,499	75
2014-11-21	$12.08	$10.00	24.1%	7.5%	26.2%	4.9%	34.1%	2.5%	3.2%	173.3K	-1.7M	-6.4K	0.49	121.82	97	48	3,499	75
2014-11-24	$12.36	$10.00	23.2%	7.8%	26.2%	4.4%	27.2%	-2.5%	0.3%	210.1K	-1.8M	-6.3K	0.30	110.12	280	85	3,498	75
2014-11-25	$12.39	$12.50	25.4%	7.6%	23.9%	5.7%	26.6%	0.5%	-0.8%	203.0K	-1.9M	-6.8K	0.32	105.11	410	132	3,568	160
2014-11-26	$12.38	$12.50	21.6%	7.8%	23.6%	3.4%	0.0%	-2.4%	0.8%	236.4K	-2.2M	-7.1K	0.00	106.89	200	0	3,842	169
2014-11-28	$12.45	$12.50	31.7%	7.4%	22.5%	9.7%	0.0%	-12.6%	-32.6%	172.4K	-2.2M	-6.8K	0.00	135.02	0	5	3,662	169