GPK Options History — September 2018

In September 2018, GPK traded between $14.00 and $14.73. ATM implied volatility averaged 22.1%, placing in the 27.6% IV rank vs the trailing year. The 30-day expected move averaged 6.3%. IV traded above realized volatility by 1.9% (HV 20d: 20.2%). Max pain ranged from $12.50 to $15.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 16 of 19 days. Put/call ratio averaged 0.06.

Notable Days

2018-09-07: Highest Volume — 3,724 contracts
2018-09-10: Largest IV drop — 46.4% change
2018-09-07: Highest IV Rank — 48.2%
2018-09-05: Largest Expected Move — 7.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$14.34	$14.00	$14.73	$14.21	$14.00
Max Pain	$14.74	$12.50	$15.00	$12.50	$15.00
ATM IV	22.1%	15.9%	29.6%	21.4%	21.7%
Expected Move	6.3%	5.0%	7.5%	6.1%	6.2%
HV 20d	20.2%	15.2%	23.0%	15.2%	21.6%
HV 60d	18.7%	18.0%	19.2%	18.0%	19.1%
IV Rank	27.6%	10.4%	48.2%	25.7%	26.5%
IV Percentile	26.6%	2.0%	82.9%	16.3%	20.6%
Term Structure	1.2%	-4.8%	5.5%	-4.8%	5.5%
VWIV	22.7%	20.1%	26.8%	26.2%	21.2%
Skew 25d	-2.9%	-7.0%	0.1%	-5.9%	-0.8%
Skew 10d	-3.8%	-12.0%	0.6%	-7.0%	-2.9%
Call IV 25d	22.5%	19.4%	26.6%	26.0%	20.3%
Put IV 25d	19.6%	16.0%	25.7%	20.2%	19.4%
Bid-Ask Spread %	18.31	5.79	92.12	5.79	23.07
Gamma HHI	0.79	0.52	0.97	0.94	0.55
Net GEX	335.1K	19.8K	919.8K	497.3K	24.5K
Net DEX	-2.4M	-5.1M	-1.1M	-3.4M	-1.1M
Net VEX	-6.3K	-12.6K	-3.8K	-10.4K	-3.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.06	0.01	0.10	0.06	0.07
Total Volume	1,235.579	352	3,724	847	365
Total OI	8,766.105	1,961	13,404	13,315	2,013

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
2018-09-04	$14.21	$12.50	21.4%	6.1%	15.2%	25.7%	26.2%	-5.9%	-4.8%	497.3K	-3.4M	-10.4K	0.06	5.79	799	48	12,507	808
2018-09-05	$14.61	$12.50	26.2%	7.5%	17.9%	38.9%	26.8%	-0.9%	-4.6%	713.4K	-5.1M	-12.6K	0.07	12.44	680	47	12,531	808
2018-09-06	$14.33	$15.00	22.7%	6.5%	19.0%	29.1%	22.7%	-3.1%	1.7%	604.4K	-4.0M	-11.0K	0.06	11.48	660	41	12,595	808
2018-09-07	$14.20	$15.00	29.6%	6.3%	19.3%	48.2%	22.3%	-4.1%	1.9%	415.1K	-4.0M	-11.1K	0.01	11.76	3,683	41	12,596	808
2018-09-10	$14.25	$15.00	15.9%	6.5%	18.9%	10.4%	22.9%	-3.9%	0.2%	272.9K	-3.4M	-8.5K	0.01	11.38	3,683	41	9,559	808
2018-09-11	$14.12	$15.00	19.1%	5.0%	19.1%	19.4%	21.2%	-4.9%	2.5%	191.5K	-1.8M	-5.7K	0.01	14.55	3,683	41	9,559	807
2018-09-12	$14.18	$15.00	20.3%	5.8%	18.7%	22.5%	23.4%	-7.0%	0.6%	182.0K	-1.7M	-5.2K	0.01	32.41	3,683	41	9,559	807
2018-09-13	$14.30	$15.00	21.5%	6.2%	19.0%	25.8%	21.6%	-2.5%	2.7%	298.4K	-2.1M	-5.7K	0.07	92.12	610	41	9,551	807
2018-09-14	$14.46	$15.00	21.2%	6.1%	19.3%	25.0%	21.3%	-2.3%	1.4%	330.8K	-2.0M	-5.1K	0.07	11.03	570	41	9,548	807
2018-09-17	$14.30	$15.00	22.3%	6.4%	19.7%	28.0%	22.3%	-3.7%	2.0%	165.7K	-1.7M	-4.4K	0.07	11.66	574	41	9,545	807
2018-09-18	$14.73	$15.00	21.5%	6.2%	21.9%	25.8%	21.5%	-0.5%	2.6%	828.5K	-3.4M	-6.0K	0.07	10.04	573	41	9,554	807
2018-09-19	$14.72	$15.00	22.8%	6.5%	21.9%	29.4%	22.8%	0.1%	1.5%	919.8K	-3.5M	-5.7K	0.10	8.92	625	60	9,504	806
2018-09-20	$14.73	$15.00	22.2%	6.4%	20.9%	27.8%	22.2%	-0.5%	2.2%	808.6K	-2.0M	-4.7K	0.10	11.32	622	60	9,322	806
2018-09-21	$14.66	$15.00	20.8%	5.9%	21.1%	23.8%	20.8%	-0.0%	2.9%	19.8K	-1.4M	-3.9K	0.10	13.16	610	60	9,319	806
2018-09-24	$14.37	$15.00	23.8%	6.8%	21.9%	32.3%	23.9%	-2.5%	1.3%	21.1K	-1.3M	-3.9K	0.05	13.68	334	18	1,575	386
2018-09-25	$14.07	$15.00	26.0%	7.5%	23.0%	38.3%	26.1%	-6.2%	-2.0%	24.3K	-1.2M	-4.0K	0.05	14.26	334	18	1,623	386
2018-09-26	$14.14	$15.00	20.8%	6.0%	22.9%	24.1%	22.3%	-7.0%	0.4%	24.3K	-1.2M	-4.0K	0.05	15.94	336	18	1,625	386
2018-09-27	$14.05	$15.00	20.6%	5.9%	22.8%	23.3%	20.1%	-0.3%	5.5%	24.6K	-1.2M	-3.9K	0.05	22.95	336	18	1,627	386
2018-09-28	$14.00	$15.00	21.7%	6.2%	21.6%	26.5%	21.2%	-0.8%	5.5%	24.5K	-1.1M	-3.8K	0.07	23.07	340	25	1,627	386