GPK Options History — April 2017

In April 2017, GPK traded between $12.75 and $13.70. ATM implied volatility averaged 27.6%, placing in the 10.3% IV rank vs the trailing year. The 30-day expected move averaged 8.2%. IV traded above realized volatility by 11.7% (HV 20d: 15.8%). 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 5 of 19 days. Put/call ratio averaged 0.17.

Notable Days

2017-04-20: Highest Volume — 1,423 contracts
2017-04-26: Largest IV drop — 28.3% change
2017-04-21: Highest IV Rank — 23.7%
2017-04-21: Largest Expected Move — 10.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$13.19	$12.75	$13.70	$13.06	$13.57
Max Pain	$12.50	$12.50	$12.50	$12.50	$12.50
ATM IV	27.6%	20.0%	36.8%	22.2%	24.2%
Expected Move	8.2%	5.7%	10.5%	6.4%	6.9%
HV 20d	15.8%	12.2%	25.9%	25.9%	13.4%
HV 60d	22.5%	21.6%	23.1%	23.1%	21.6%
IV Rank	10.3%	0.0%	23.7%	2.2%	6.2%
IV Percentile	35.7%	0.0%	90.5%	0.8%	9.5%
Term Structure	0.2%	-5.4%	10.2%	10.2%	3.2%
VWIV	28.9%	19.5%	36.5%	24.8%	23.3%
Skew 25d	1.9%	-2.7%	6.6%	0.8%	2.6%
Skew 10d	9.3%	-2.0%	67.7%	-1.2%	3.4%
Call IV 25d	28.1%	19.6%	36.2%	24.7%	21.0%
Put IV 25d	30.0%	17.0%	35.9%	25.6%	23.6%
Bid-Ask Spread %	71.57	8.23	101.64	83.90	25.85
Gamma HHI	0.75	0.54	0.84	0.78	0.63
Net GEX	215.8K	184.0K	245.0K	197.7K	245.0K
Net DEX	-5.3M	-6.9M	-4.1M	-4.8M	-6.5M
Net VEX	-16.3K	-18.4K	-13.0K	-18.4K	-14.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.17	0.13	0.27	0.15	0.22
Total Volume	1,289.842	700	1,423	1,328	1,373
Total OI	9,444.316	8,583	10,078	9,290	9,795

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
2017-04-03	$13.06	$12.50	22.2%	6.4%	25.9%	2.2%	24.8%	0.8%	10.2%	197.7K	-4.8M	-18.4K	0.15	83.90	1,150	178	8,216	1,074
2017-04-04	$12.94	$12.50	27.1%	7.8%	20.0%	9.5%	24.8%	-2.3%	-1.1%	210.0K	-4.8M	-17.8K	0.15	60.58	1,150	168	8,219	1,074
2017-04-05	$13.01	$12.50	23.8%	6.8%	17.2%	4.6%	25.9%	-0.2%	7.9%	210.3K	-4.8M	-17.7K	0.14	90.83	1,150	158	8,219	1,064
2017-04-06	$12.94	$12.50	22.1%	8.3%	17.0%	2.1%	28.8%	4.1%	-1.1%	216.1K	-4.7M	-17.5K	0.19	96.02	1,150	221	8,219	1,095
2017-04-07	$12.86	$12.50	23.9%	8.0%	16.8%	4.7%	28.0%	3.5%	-2.1%	209.2K	-4.7M	-17.5K	0.19	86.07	1,150	221	8,219	1,181
2017-04-10	$12.88	$12.50	24.6%	8.4%	16.4%	5.7%	28.9%	3.4%	-2.3%	215.1K	-4.5M	-17.4K	0.15	84.01	1,150	174	8,219	1,181
2017-04-11	$12.84	$12.50	24.2%	8.4%	16.4%	5.2%	29.4%	3.9%	-0.9%	214.8K	-4.2M	-17.1K	0.15	78.74	1,150	174	8,219	1,180
2017-04-12	$12.75	$12.50	29.6%	8.5%	15.9%	13.1%	29.6%	4.7%	-1.8%	219.6K	-4.1M	-16.9K	0.18	95.95	1,150	210	8,219	1,180
2017-04-13	$12.78	$12.50	29.0%	8.3%	15.4%	12.2%	29.0%	4.4%	-0.6%	210.4K	-4.1M	-16.8K	0.18	96.84	1,150	210	8,219	1,255
2017-04-17	$12.91	$12.50	31.3%	9.0%	15.8%	15.7%	31.3%	5.0%	-1.3%	208.7K	-4.5M	-16.4K	0.18	97.32	1,150	210	8,219	1,255
2017-04-18	$13.16	$12.50	31.0%	8.9%	15.7%	15.2%	32.5%	6.6%	0.9%	214.2K	-5.2M	-16.2K	0.15	101.64	1,090	159	8,219	1,255
2017-04-19	$13.30	$12.50	32.3%	9.2%	14.4%	17.1%	32.9%	4.5%	-0.4%	210.8K	-5.5M	-15.6K	0.15	95.03	1,087	159	8,224	1,255
2017-04-20	$13.49	$12.50	35.6%	10.2%	15.1%	22.0%	35.1%	-0.0%	-2.0%	184.0K	-5.8M	-15.8K	0.13	87.46	1,264	159	8,225	1,255
2017-04-21	$13.57	$12.50	36.8%	10.5%	15.1%	23.7%	36.5%	0.7%	-2.6%	198.6K	-6.1M	-15.7K	0.27	83.40	553	147	8,823	1,255
2017-04-24	$13.54	$12.50	35.0%	10.0%	12.2%	21.1%	34.7%	-2.7%	-5.4%	217.1K	-6.2M	-14.4K	0.15	25.69	1,163	177	7,561	1,022
2017-04-25	$13.70	$12.50	27.8%	8.0%	12.5%	10.5%	31.8%	0.7%	-2.6%	235.1K	-6.6M	-16.6K	0.13	20.29	1,049	139	8,563	1,062
2017-04-26	$13.60	$12.50	20.0%	5.7%	13.0%	0.0%	19.5%	-2.6%	6.2%	240.9K	-6.7M	-13.8K	0.13	8.23	1,052	139	8,539	1,058
2017-04-27	$13.67	$12.50	23.5%	6.7%	12.9%	5.1%	22.4%	-0.3%	-0.5%	242.7K	-6.9M	-13.0K	0.22	42.03	1,125	248	8,546	1,059
2017-04-28	$13.57	$12.50	24.2%	6.9%	13.4%	6.2%	23.3%	2.6%	3.2%	245.0K	-6.5M	-14.3K	0.22	25.85	1,125	248	8,622	1,173