GPK Options History — September 2017

In September 2017, GPK traded between $13.01 and $13.96. ATM implied volatility averaged 24.8%, placing in the 26.2% IV rank vs the trailing year. The 30-day expected move averaged 6.5%. IV traded above realized volatility by 4.6% (HV 20d: 20.3%). 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 19 of 20 days. Put/call ratio averaged 0.41.

Notable Days

2017-09-29: Highest Volume — 4,694 contracts
2017-09-13: Largest IV drop — 48.5% change
2017-09-12: Highest IV Rank — 66.3%
2017-09-12: Largest Expected Move — 7.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$13.36	$13.01	$13.96	$13.16	$13.96
Max Pain	$12.50	$12.50	$12.50	$12.50	$12.50
ATM IV	24.8%	17.4%	47.0%	24.4%	17.4%
Expected Move	6.5%	5.0%	7.6%	7.0%	5.0%
HV 20d	20.3%	16.4%	24.0%	23.7%	16.5%
HV 60d	17.8%	17.3%	18.4%	17.6%	18.4%
IV Rank	26.2%	10.4%	66.3%	20.8%	10.4%
IV Percentile	31.8%	4.4%	99.6%	28.6%	4.4%
Term Structure	4.1%	-1.5%	9.2%	3.0%	8.5%
VWIV	22.7%	18.5%	27.5%	26.6%	18.8%
Skew 25d	2.4%	-3.3%	8.3%	5.5%	-2.4%
Skew 10d	6.9%	-4.1%	59.6%	11.8%	-1.3%
Call IV 25d	20.6%	17.5%	28.7%	23.2%	19.8%
Put IV 25d	23.1%	16.6%	28.7%	28.7%	17.4%
Bid-Ask Spread %	12.43	7.28	32.13	9.04	7.32
Gamma HHI	0.80	0.50	1.00	0.51	0.96
Net GEX	166.7K	96.6K	232.3K	152.1K	216.9K
Net DEX	-1.8M	-2.9M	-691.8K	-1.9M	-2.9M
Net VEX	-9.3K	-16.5K	-5.8K	-7.3K	-16.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.41	0.01	1.65	1.03	0.01
Total Volume	780.65	196	4,694	241	4,694
Total OI	6,909.95	5,759	7,852	7,071	6,993

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
2017-09-01	$13.16	$12.50	24.4%	7.0%	23.7%	20.8%	26.6%	5.5%	3.0%	152.1K	-1.9M	-7.3K	1.03	9.04	119	122	6,515	556
2017-09-05	$13.09	$12.50	27.0%	7.3%	23.7%	26.2%	25.5%	7.3%	0.9%	155.4K	-1.7M	-6.7K	1.00	7.72	122	122	6,515	556
2017-09-06	$13.18	$12.50	30.1%	7.4%	23.8%	32.4%	25.8%	8.3%	1.5%	165.9K	-2.1M	-8.4K	0.18	9.77	669	122	6,524	556
2017-09-07	$13.15	$12.50	25.1%	7.2%	23.8%	22.3%	25.3%	7.4%	1.1%	170.3K	-2.1M	-7.5K	1.65	12.15	74	122	7,126	556
2017-09-08	$13.18	$12.50	26.2%	7.3%	23.8%	24.5%	25.5%	7.6%	1.8%	171.4K	-2.4M	-8.6K	1.42	9.88	93	132	7,126	556
2017-09-11	$13.32	$12.50	38.3%	7.3%	24.0%	48.8%	27.5%	-3.3%	-1.5%	157.3K	-2.3M	-7.3K	0.47	13.51	252	119	7,146	576
2017-09-12	$13.15	$12.50	47.0%	7.6%	22.0%	66.3%	24.1%	3.9%	0.8%	179.3K	-2.0M	-8.1K	0.47	24.63	252	119	7,286	566
2017-09-13	$13.03	$12.50	24.2%	6.9%	22.2%	20.6%	23.8%	1.9%	1.8%	150.8K	-2.1M	-5.8K	0.11	8.85	1,039	119	7,286	566
2017-09-14	$13.06	$12.50	22.8%	6.5%	21.7%	26.7%	21.8%	1.1%	3.3%	106.7K	-1.5M	-6.3K	0.14	11.12	945	131	6,772	586
2017-09-15	$13.01	$12.50	23.1%	6.6%	21.5%	27.8%	22.9%	1.2%	2.9%	96.6K	-1.5M	-6.6K	0.14	11.74	945	131	7,065	591
2017-09-18	$13.23	$12.50	24.5%	7.0%	22.3%	31.8%	22.2%	-0.1%	0.4%	109.1K	-691.8K	-6.2K	0.12	15.38	498	58	5,405	354
2017-09-19	$13.33	$12.50	25.3%	7.2%	16.4%	34.2%	25.1%	7.6%	3.3%	141.1K	-1.0M	-7.8K	0.13	15.84	498	66	5,415	354
2017-09-20	$13.52	$12.50	23.6%	6.8%	16.5%	29.1%	20.4%	7.6%	8.8%	166.9K	-1.5M	-10.1K	0.12	32.13	556	66	5,415	374
2017-09-21	$13.70	$12.50	18.6%	5.3%	16.8%	14.1%	18.5%	-2.0%	8.8%	197.7K	-1.9M	-12.4K	0.17	9.10	392	66	5,761	374
2017-09-22	$13.68	$12.50	18.1%	5.2%	16.7%	12.7%	18.6%	-1.8%	7.8%	204.4K	-1.8M	-11.7K	0.18	8.55	375	66	5,922	374
2017-09-25	$13.37	$12.50	24.6%	7.0%	18.8%	32.1%	23.0%	5.8%	6.7%	154.9K	-1.0M	-8.4K	0.21	17.02	227	48	5,925	374
2017-09-26	$13.56	$12.50	17.6%	5.0%	17.5%	10.9%	18.6%	-2.7%	9.2%	184.3K	-1.6M	-11.3K	0.25	8.43	713	178	5,906	374
2017-09-27	$13.72	$12.50	20.7%	5.9%	17.2%	20.4%	20.5%	-0.9%	4.6%	220.3K	-2.1M	-13.3K	0.28	9.18	713	203	6,387	523
2017-09-28	$13.86	$12.50	18.1%	5.2%	16.5%	12.5%	19.5%	-3.2%	8.9%	232.3K	-2.3M	-15.0K	0.16	7.28	384	63	6,387	556
2017-09-29	$13.96	$12.50	17.4%	5.0%	16.5%	10.4%	18.8%	-2.4%	8.5%	216.9K	-2.9M	-16.5K	0.01	7.32	4,628	66	6,445	548