GPK Options History — December 2017

In December 2017, GPK traded between $15.18 and $15.47. ATM implied volatility averaged 23.8%, placing in the 29.7% IV rank vs the trailing year. The 30-day expected move averaged 6.3%. IV traded above realized volatility by 9.7% (HV 20d: 14.1%). Max pain ranged from $12.50 to $15.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 0.25.

Notable Days

2017-12-04: Highest Volume — 3,680 contracts
2017-12-13: Largest IV drop — 21.9% change
2017-12-11: Highest IV Rank — 54.4%
2017-12-01: Largest Expected Move — 7.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.34	$15.18	$15.47	$15.26	$15.45
Max Pain	$13.88	$12.50	$15.00	$15.00	$15.00
ATM IV	23.8%	20.0%	32.0%	24.3%	23.2%
Expected Move	6.3%	5.7%	7.0%	7.0%	6.7%
HV 20d	14.1%	11.2%	17.0%	16.9%	11.2%
HV 60d	19.6%	19.1%	20.3%	20.3%	19.1%
IV Rank	29.7%	18.4%	54.4%	31.4%	28.0%
IV Percentile	32.4%	9.1%	85.7%	34.9%	24.2%
Term Structure	3.6%	-0.7%	5.4%	-0.7%	3.4%
VWIV	22.8%	20.1%	28.3%	24.3%	23.6%
Skew 25d	5.7%	0.8%	48.4%	2.9%	0.8%
Skew 10d	10.1%	2.5%	99.1%	6.1%	8.6%
Call IV 25d	18.9%	16.4%	24.4%	24.4%	24.0%
Put IV 25d	24.6%	21.1%	66.1%	27.3%	24.8%
Bid-Ask Spread %	18.68	8.82	72.56	12.96	16.12
Gamma HHI	0.97	0.94	0.99	0.99	0.96
Net GEX	564.5K	154.5K	1.3M	916.9K	177.3K
Net DEX	-7.6M	-15.2M	-3.3M	-10.4M	-3.7M
Net VEX	-14.7K	-29.4K	-10.6K	-24.1K	-10.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.25	0.01	0.33	0.05	0.31
Total Volume	398.5	165	3,680	716	234
Total OI	8,194.05	4,154	15,397	12,654	4,207

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
2017-12-01	$15.26	$15.00	24.3%	7.0%	16.9%	31.4%	24.3%	2.9%	-0.7%	916.9K	-10.4M	-24.1K	0.05	12.96	683	33	11,755	899
2017-12-04	$15.33	$12.50	25.9%	6.5%	17.0%	36.1%	22.6%	4.7%	5.4%	910.9K	-11.2M	-22.5K	0.01	8.99	3,647	33	11,733	899
2017-12-05	$15.46	$12.50	26.5%	6.8%	16.2%	38.0%	23.9%	6.3%	1.0%	971.0K	-15.2M	-29.4K	0.24	17.94	134	32	14,499	898
2017-12-06	$15.36	$12.50	26.4%	6.8%	16.3%	37.5%	23.6%	4.6%	3.1%	916.8K	-10.6M	-17.7K	0.24	31.98	134	32	10,601	899
2017-12-07	$15.36	$12.50	26.2%	6.2%	16.3%	37.1%	21.8%	3.1%	3.1%	913.0K	-11.1M	-16.9K	0.24	43.66	133	32	10,600	899
2017-12-08	$15.40	$12.50	28.1%	6.2%	16.2%	42.7%	21.6%	3.5%	4.6%	921.0K	-11.1M	-16.6K	0.23	10.34	139	32	10,601	899
2017-12-11	$15.45	$12.50	32.0%	6.8%	15.8%	54.4%	28.3%	3.7%	3.1%	969.1K	-11.6M	-15.0K	0.20	8.82	160	32	10,599	899
2017-12-12	$15.31	$12.50	27.2%	6.2%	14.8%	40.0%	22.5%	4.0%	4.7%	1.3M	-10.8M	-15.0K	0.20	9.74	157	32	10,620	899
2017-12-13	$15.42	$12.50	21.2%	6.1%	15.0%	22.0%	27.8%	2.1%	4.8%	1.1M	-11.7M	-13.8K	0.20	72.56	157	32	10,620	899
2017-12-14	$15.28	$12.50	22.3%	6.4%	15.1%	25.2%	22.3%	48.4%	4.8%	696.9K	-8.2M	-12.2K	0.28	13.60	189	53	7,418	899
2017-12-15	$15.33	$15.00	21.8%	6.3%	15.1%	23.8%	21.9%	4.7%	4.5%	163.5K	-8.9M	-11.7K	0.20	11.60	262	53	7,477	920
2017-12-18	$15.47	$15.00	21.7%	6.2%	15.5%	23.5%	22.0%	5.1%	3.3%	154.5K	-3.6M	-11.4K	0.33	16.12	140	46	3,873	282
2017-12-19	$15.24	$15.00	20.5%	5.9%	11.3%	19.8%	20.6%	3.3%	3.7%	165.4K	-3.3M	-11.4K	0.33	13.71	140	46	3,871	283
2017-12-20	$15.20	$15.00	21.3%	6.1%	11.4%	22.3%	21.4%	3.6%	4.8%	170.4K	-3.3M	-11.3K	0.33	11.78	140	46	3,871	283
2017-12-21	$15.18	$15.00	20.0%	5.7%	11.3%	18.4%	20.1%	2.8%	3.7%	172.8K	-3.3M	-11.3K	0.33	16.40	140	46	3,871	283
2017-12-22	$15.25	$15.00	21.3%	6.1%	11.4%	22.3%	20.8%	0.8%	3.6%	176.2K	-3.3M	-11.2K	0.33	13.32	140	46	3,871	283
2017-12-26	$15.18	$15.00	22.0%	6.3%	11.6%	24.4%	22.0%	3.1%	4.0%	178.8K	-3.3M	-11.0K	0.33	11.91	140	46	3,871	283
2017-12-27	$15.40	$15.00	22.6%	6.5%	12.3%	26.2%	22.7%	4.0%	3.7%	172.8K	-3.6M	-10.6K	0.32	19.08	145	46	3,871	283
2017-12-28	$15.44	$15.00	21.1%	6.1%	11.9%	21.7%	21.2%	2.2%	4.4%	173.3K	-3.6M	-10.7K	0.24	12.96	192	46	3,880	283
2017-12-29	$15.45	$15.00	23.2%	6.7%	11.2%	28.0%	23.6%	0.8%	3.4%	177.3K	-3.7M	-10.7K	0.31	16.12	179	55	3,924	283