GPK Options History — July 2016

In July 2016, GPK traded between $12.30 and $13.80. ATM implied volatility averaged 32.3%, placing in the 15.6% IV rank vs the trailing year. The 30-day expected move averaged 9.1%. IV traded above realized volatility by 3.9% (HV 20d: 28.4%). Max pain ranged from $12.50 to $12.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 0.75.

Notable Days

2016-07-28: Highest Volume — 3,828 contracts
2016-07-11: Largest IV spike — 37.9% change
2016-07-12: Highest IV Rank — 41.3%
2016-07-14: Largest Expected Move — 10.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$13.07	$12.30	$13.80	$12.56	$13.64
Max Pain	$12.50	$12.50	$12.50	$12.50	$12.50
ATM IV	32.3%	24.5%	46.7%	25.4%	24.5%
Expected Move	9.1%	7.0%	10.2%	7.3%	7.0%
HV 20d	28.4%	23.0%	32.4%	29.1%	23.0%
HV 60d	24.9%	23.8%	25.5%	24.5%	24.9%
IV Rank	15.6%	2.1%	41.3%	3.4%	2.1%
IV Percentile	42.9%	1.6%	94.0%	2.8%	1.6%
Term Structure	-0.9%	-9.7%	6.0%	6.0%	5.4%
VWIV	33.0%	23.8%	45.7%	25.4%	26.6%
Skew 25d	-2.5%	-18.1%	4.7%	-18.1%	-9.7%
Skew 10d	5.8%	-27.4%	17.8%	-27.4%	8.6%
Call IV 25d	36.6%	29.7%	43.5%	43.5%	41.7%
Put IV 25d	34.0%	22.2%	39.3%	25.4%	32.0%
Bid-Ask Spread %	105.78	94.52	123.85	103.51	123.85
Gamma HHI	0.78	0.51	0.97	0.75	0.97
Net GEX	98.8K	27.6K	195.7K	112.9K	159.8K
Net DEX	-927.1K	-2.1M	-141.0K	-683.8K	-1.4M
Net VEX	-4.2K	-11.2K	-2.1K	-2.9K	-9.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.75	0.04	3.07	3.07	0.06
Total Volume	1,643.35	122	3,828	122	3,799
Total OI	4,189.5	2,859	6,108	3,808	6,108

Daily Data (20 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
2016-07-01	$12.56	$12.50	25.4%	7.3%	29.1%	3.4%	25.4%	-18.1%	6.0%	112.9K	-683.8K	-2.9K	3.07	103.51	30	92	3,497	311
2016-07-05	$12.30	$12.50	31.9%	8.9%	29.8%	13.9%	31.1%	1.9%	-1.0%	96.4K	-451.3K	-2.6K	3.07	106.75	30	92	3,497	311
2016-07-06	$12.52	$12.50	30.0%	9.1%	30.6%	10.8%	31.6%	3.5%	-2.9%	119.3K	-600.2K	-2.6K	3.07	108.59	30	92	3,497	311
2016-07-07	$12.44	$12.50	30.3%	8.8%	30.6%	11.3%	30.7%	3.1%	-0.0%	121.5K	-587.4K	-2.6K	3.07	109.57	30	92	3,497	311
2016-07-08	$12.74	$12.50	25.3%	8.9%	32.1%	3.5%	31.0%	4.7%	-0.0%	121.6K	-899.9K	-2.7K	0.09	100.15	1,029	92	3,497	311
2016-07-11	$12.92	$12.50	34.9%	9.5%	32.4%	20.5%	33.3%	4.2%	-2.4%	195.7K	-2.1M	-2.8K	0.09	117.36	1,029	92	4,498	311
2016-07-12	$13.11	$12.50	46.7%	9.5%	29.4%	41.3%	36.4%	0.4%	1.5%	78.0K	-1.4M	-2.6K	0.04	94.52	2,135	92	3,498	311
2016-07-13	$13.10	$12.50	35.2%	10.1%	29.5%	21.1%	37.9%	0.9%	-6.0%	102.8K	-1.4M	-2.8K	0.04	98.01	2,135	92	4,555	311
2016-07-14	$13.24	$12.50	35.7%	10.2%	29.6%	21.9%	37.0%	0.3%	-2.0%	80.8K	-1.6M	-3.3K	0.04	101.28	2,167	92	4,552	311
2016-07-15	$13.23	$12.50	33.5%	9.6%	29.6%	18.1%	35.7%	-1.5%	-0.9%	48.2K	-1.6M	-2.7K	0.04	100.28	2,167	92	4,588	311
2016-07-18	$13.11	$12.50	32.2%	9.2%	29.7%	15.8%	45.7%	-6.3%	1.7%	35.6K	-190.8K	-2.3K	0.06	119.43	1,160	72	2,568	291
2016-07-19	$12.99	$12.50	30.0%	8.6%	28.6%	11.8%	32.8%	-4.1%	4.0%	27.6K	-145.3K	-2.1K	0.41	97.90	175	72	2,568	291
2016-07-20	$13.18	$12.50	31.3%	9.0%	29.0%	14.2%	32.0%	-2.6%	0.2%	37.4K	-193.3K	-2.2K	0.56	99.71	129	72	2,568	291
2016-07-21	$13.10	$12.50	32.4%	9.3%	29.1%	16.1%	33.0%	-1.2%	-1.8%	33.9K	-164.1K	-2.1K	0.56	110.95	129	72	2,568	291
2016-07-22	$13.05	$12.50	32.6%	9.3%	29.1%	16.4%	33.0%	-0.2%	-2.7%	30.1K	-141.0K	-2.1K	0.56	104.72	129	72	2,568	291
2016-07-25	$13.12	$12.50	33.7%	9.7%	26.9%	18.4%	34.0%	-6.8%	-1.4%	29.2K	-187.3K	-2.3K	0.06	95.93	3,604	203	2,568	291
2016-07-26	$13.69	$12.50	34.6%	9.9%	23.1%	20.0%	33.5%	-11.1%	-9.7%	170.1K	-1.6M	-11.2K	0.06	115.66	3,621	205	5,645	434
2016-07-27	$13.80	$12.50	31.3%	9.0%	23.0%	14.2%	23.8%	-10.9%	-6.6%	194.7K	-1.7M	-11.1K	0.06	100.81	3,618	205	5,645	410
2016-07-28	$13.66	$12.50	33.3%	9.5%	23.2%	17.6%	35.3%	2.8%	1.6%	181.1K	-1.5M	-10.4K	0.06	106.69	3,623	205	5,698	410
2016-07-29	$13.64	$12.50	24.5%	7.0%	23.0%	2.1%	26.6%	-9.7%	5.4%	159.8K	-1.4M	-9.9K	0.06	123.85	3,594	205	5,698	410