GPK Options History — February 2017

In February 2017, GPK traded between $12.63 and $13.76. ATM implied volatility averaged 32.4%, placing in the 17.2% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded above realized volatility by 9.2% (HV 20d: 23.2%). Max pain ranged from $12.50 to $12.50. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.42.

Notable Days

2017-02-07: Highest Volume — 2,584 contracts
2017-02-17: Largest IV spike — 48.0% change
2017-02-07: Highest IV Rank — 35.9%
2017-02-17: Largest Expected Move — 10.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$13.26	$12.63	$13.76	$12.74	$13.34
Max Pain	$12.50	$12.50	$12.50	$12.50	$12.50
ATM IV	32.4%	24.9%	45.0%	33.2%	33.3%
Expected Move	8.7%	7.1%	10.6%	9.5%	9.6%
HV 20d	23.2%	19.5%	27.6%	19.8%	23.5%
HV 60d	21.3%	19.6%	22.6%	19.7%	22.2%
IV Rank	17.2%	6.2%	35.9%	18.4%	18.6%
IV Percentile	57.1%	10.7%	95.2%	68.3%	73.4%
Term Structure	-0.5%	-13.8%	13.8%	-2.8%	-9.0%
VWIV	28.3%	20.8%	39.2%	33.2%	39.2%
Skew 25d	3.6%	-9.3%	10.5%	-4.0%	-9.3%
Skew 10d	9.6%	-5.7%	17.9%	-5.7%	-4.9%
Call IV 25d	28.8%	21.1%	45.6%	37.3%	45.6%
Put IV 25d	32.5%	28.4%	37.4%	33.2%	36.3%
Bid-Ask Spread %	97.16	86.00	104.05	97.58	95.22
Gamma HHI	0.57	0.50	0.76	0.62	0.60
Net GEX	172.0K	97.7K	229.2K	140.2K	169.0K
Net DEX	-4.4M	-5.6M	-2.6M	-2.7M	-5.0M
Net VEX	-16.4K	-17.9K	-14.1K	-15.0K	-16.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.42	0.10	0.78	0.28	0.70
Total Volume	1,876.316	556	2,584	1,958	854
Total OI	9,942	8,784	10,620	8,784	10,480

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
2017-02-01	$12.74	$12.50	33.2%	9.5%	19.8%	18.4%	33.2%	-4.0%	-2.8%	140.2K	-2.7M	-15.0K	0.28	97.58	1,524	434	8,038	746
2017-02-02	$12.65	$12.50	34.9%	8.7%	19.5%	20.9%	29.8%	4.1%	-1.7%	136.3K	-2.7M	-14.8K	0.29	98.36	1,522	434	8,038	746
2017-02-03	$12.63	$12.50	34.0%	8.4%	19.5%	19.6%	29.1%	3.7%	-2.0%	136.3K	-2.6M	-14.5K	0.42	96.67	1,120	468	8,040	746
2017-02-06	$12.68	$12.50	40.8%	8.0%	19.5%	29.6%	28.6%	9.9%	1.0%	121.6K	-2.6M	-14.1K	0.65	93.18	1,146	748	8,051	751
2017-02-07	$12.70	$12.50	45.0%	8.1%	19.5%	35.9%	28.3%	2.9%	-1.7%	97.7K	-2.8M	-14.4K	0.41	100.32	1,836	748	8,052	1,266
2017-02-08	$13.12	$12.50	30.0%	8.6%	22.5%	13.7%	22.7%	7.7%	-0.0%	127.1K	-3.7M	-16.6K	0.54	93.63	1,442	784	8,657	1,266
2017-02-09	$13.29	$12.50	28.2%	8.1%	22.9%	11.0%	25.1%	3.2%	2.4%	156.7K	-4.2M	-17.1K	0.48	101.26	1,492	722	8,861	1,302
2017-02-10	$13.10	$12.50	28.6%	8.2%	23.4%	11.7%	27.1%	3.3%	1.7%	124.7K	-4.0M	-16.9K	0.49	98.48	1,468	722	8,936	1,320
2017-02-13	$13.00	$12.50	28.9%	8.3%	23.2%	12.0%	28.4%	3.7%	0.1%	119.7K	-3.8M	-16.4K	0.49	100.11	1,468	722	8,916	1,320
2017-02-14	$13.56	$12.50	28.3%	8.1%	27.4%	11.2%	23.4%	7.5%	5.9%	198.1K	-4.9M	-17.0K	0.45	100.26	1,575	712	8,916	1,320
2017-02-15	$13.75	$12.50	28.5%	8.2%	27.6%	11.5%	22.5%	10.1%	8.2%	229.0K	-5.6M	-17.7K	0.53	104.05	1,332	712	9,237	1,330
2017-02-16	$13.76	$12.50	24.9%	7.1%	26.7%	6.2%	20.8%	10.3%	7.4%	229.2K	-5.5M	-17.6K	0.53	96.71	1,333	712	9,290	1,330
2017-02-17	$13.60	$12.50	36.9%	10.6%	25.0%	23.9%	25.9%	-0.3%	-11.2%	219.6K	-5.4M	-17.9K	0.51	96.83	1,398	712	9,290	1,330
2017-02-21	$13.73	$12.50	31.5%	9.0%	24.9%	16.0%	36.5%	-4.3%	-3.7%	227.7K	-5.5M	-17.3K	0.10	94.02	1,603	167	9,300	784
2017-02-22	$13.65	$12.50	34.0%	9.7%	24.5%	19.6%	26.6%	6.5%	-8.7%	213.1K	-5.5M	-17.3K	0.11	99.74	1,561	167	9,525	784
2017-02-23	$13.57	$12.50	30.1%	8.6%	24.4%	13.9%	24.4%	10.5%	3.7%	211.8K	-5.6M	-17.0K	0.11	96.14	1,561	167	9,526	784
2017-02-24	$13.52	$12.50	32.8%	9.4%	24.4%	17.8%	28.7%	5.3%	-13.8%	192.9K	-5.3M	-17.0K	0.11	97.48	1,561	167	9,526	784
2017-02-27	$13.55	$12.50	31.0%	8.9%	22.6%	15.2%	38.3%	-1.5%	13.8%	217.8K	-5.6M	-16.3K	0.78	86.00	312	244	9,526	784
2017-02-28	$13.34	$12.50	33.3%	9.6%	23.5%	18.6%	39.2%	-9.3%	-9.0%	169.0K	-5.0M	-16.9K	0.70	95.22	503	351	9,601	879