GPK Options History — February 2015

In February 2015, GPK traded between $14.48 and $15.75. ATM implied volatility averaged 26.4%, placing in the 6.4% IV rank vs the trailing year. The 30-day expected move averaged 7.2%. IV traded above realized volatility by 3.0% (HV 20d: 23.4%). 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 11 of 19 days. Put/call ratio averaged 0.93.

Notable Days

2015-02-05: Highest Volume — 494 contracts
2015-02-17: Largest IV spike — 36.4% change
2015-02-04: Highest IV Rank — 12.1%
2015-02-04: Largest Expected Move — 10.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.13	$14.48	$15.75	$14.48	$15.08
Max Pain	$12.11	$10.00	$12.50	$10.00	$12.50
ATM IV	26.4%	19.5%	35.6%	26.2%	23.0%
Expected Move	7.2%	5.6%	10.2%	7.5%	6.6%
HV 20d	23.4%	21.8%	27.4%	23.4%	21.8%
HV 60d	20.2%	19.1%	20.8%	20.5%	20.8%
IV Rank	6.4%	2.1%	12.1%	6.2%	4.3%
IV Percentile	31.0%	4.4%	63.1%	28.6%	17.5%
Term Structure	1.6%	-9.3%	10.6%	5.0%	3.4%
VWIV	25.2%	19.5%	36.9%	31.6%	22.8%
Skew 25d	-4.2%	-39.1%	3.6%	2.8%	-39.1%
Skew 10d	-11.6%	-64.3%	4.9%	-57.6%	-63.7%
Call IV 25d	31.0%	22.3%	84.0%	24.8%	62.4%
Put IV 25d	26.8%	22.1%	50.1%	27.6%	23.3%
Bid-Ask Spread %	101.34	37.28	127.88	126.41	122.49
Gamma HHI	0.55	0.47	0.62	0.48	0.62
Net GEX	47.3K	34.8K	61.8K	35.5K	61.8K
Net DEX	-1.9M	-2.1M	-1.7M	-1.7M	-1.8M
Net VEX	-3.1K	-3.8K	-2.6K	-3.2K	-3.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.93	0.00	1.59	0.57	1.01
Total Volume	302.158	0	494	0	334
Total OI	1,905.842	1,728	2,100	1,763	2,100

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
2015-02-02	$14.48	$10.00	26.2%	7.5%	23.4%	6.2%	0.0%	2.8%	5.0%	35.5K	-1.7M	-3.2K	0.00	126.41	0	0	1,610	153
2015-02-03	$14.60	$10.00	30.3%	8.7%	23.5%	8.8%	31.6%	0.5%	-7.4%	37.5K	-1.8M	-3.1K	0.57	121.14	218	124	1,615	153
2015-02-04	$14.72	$10.00	35.6%	10.2%	23.5%	12.1%	36.9%	-34.0%	-7.0%	34.8K	-1.8M	-2.9K	0.69	127.88	195	134	1,575	153
2015-02-05	$15.07	$12.50	26.3%	6.2%	23.9%	6.3%	21.8%	0.1%	3.6%	36.2K	-1.9M	-2.6K	0.37	112.90	360	134	1,557	173
2015-02-06	$14.87	$12.50	33.4%	8.3%	22.5%	10.7%	26.4%	1.1%	-2.0%	41.1K	-1.8M	-3.0K	0.89	44.72	151	134	1,640	173
2015-02-09	$14.79	$12.50	35.2%	6.4%	22.4%	11.8%	22.6%	0.6%	4.4%	46.5K	-1.8M	-3.1K	0.85	37.28	157	134	1,660	173
2015-02-10	$15.11	$12.50	28.0%	7.9%	23.2%	7.3%	28.1%	-1.8%	-1.5%	48.5K	-1.9M	-2.8K	0.96	93.94	144	138	1,666	173
2015-02-11	$15.09	$12.50	27.0%	7.7%	23.2%	6.7%	27.5%	0.2%	-1.2%	43.0K	-1.9M	-2.8K	1.25	60.40	134	168	1,666	173
2015-02-12	$15.11	$12.50	24.4%	7.0%	23.2%	5.1%	24.5%	-0.7%	2.0%	47.5K	-1.8M	-3.0K	1.02	116.57	164	168	1,656	203
2015-02-13	$15.42	$12.50	20.3%	5.8%	23.6%	2.6%	22.0%	0.9%	10.6%	54.9K	-2.0M	-2.8K	1.04	119.06	162	168	1,716	203
2015-02-17	$15.43	$12.50	27.8%	8.0%	23.5%	7.2%	27.8%	3.5%	1.5%	49.1K	-2.0M	-2.9K	1.43	105.32	164	235	1,708	203
2015-02-18	$15.71	$12.50	23.4%	6.7%	24.0%	4.5%	25.8%	3.6%	8.5%	52.8K	-2.1M	-3.1K	1.59	111.64	148	235	1,714	273
2015-02-19	$15.67	$12.50	23.4%	6.7%	24.0%	4.5%	19.7%	0.9%	8.7%	51.8K	-2.1M	-3.0K	0.24	120.87	123	30	1,729	273
2015-02-20	$15.75	$12.50	22.4%	6.4%	23.8%	3.9%	19.5%	-2.2%	7.4%	55.9K	-2.1M	-3.2K	0.00	127.25	56	0	1,753	303
2015-02-23	$15.21	$12.50	28.6%	8.2%	27.4%	7.7%	28.8%	-3.4%	-9.3%	44.5K	-1.8M	-3.5K	1.51	101.92	129	195	1,712	287
2015-02-24	$15.12	$12.50	24.2%	6.9%	23.6%	5.0%	24.4%	-6.8%	-1.0%	49.1K	-1.7M	-3.5K	1.31	94.02	145	190	1,688	287
2015-02-25	$15.06	$12.50	23.3%	6.7%	22.4%	4.4%	23.3%	-6.1%	-1.5%	54.0K	-1.7M	-3.6K	0.95	82.09	200	190	1,708	302
2015-02-26	$15.21	$12.50	19.5%	5.6%	21.8%	2.1%	19.8%	-0.2%	7.1%	53.4K	-1.8M	-3.8K	1.00	99.55	190	190	1,778	302
2015-02-27	$15.08	$12.50	23.0%	6.6%	21.8%	4.3%	22.8%	-39.1%	3.4%	61.8K	-1.8M	-3.8K	1.01	122.49	166	168	1,798	302