GPK Options History — September 2019

In September 2019, GPK traded between $13.56 and $14.78. ATM implied volatility averaged 24.4%, placing in the 27.3% IV rank vs the trailing year. The 30-day expected move averaged 6.9%. IV traded above realized volatility by 4.3% (HV 20d: 20.1%). 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 18 of 20 days. Put/call ratio averaged 0.39.

Notable Days

2019-09-27: Highest Volume — 779 contracts
2019-09-27: Largest IV spike — 70.2% change
2019-09-04: Highest IV Rank — 40.7%
2019-09-09: Largest Expected Move — 9.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$14.10	$13.56	$14.78	$13.56	$14.78
Max Pain	$14.63	$12.50	$15.00	$15.00	$12.50
ATM IV	24.4%	14.7%	29.6%	24.9%	26.8%
Expected Move	6.9%	4.1%	9.1%	7.1%	7.7%
HV 20d	20.1%	15.8%	31.2%	30.8%	17.4%
HV 60d	26.6%	25.8%	27.0%	26.9%	26.5%
IV Rank	27.3%	2.2%	40.7%	28.5%	33.4%
IV Percentile	30.5%	0.4%	56.0%	33.7%	45.2%
Term Structure	3.9%	-7.6%	14.0%	-0.6%	3.8%
VWIV	25.6%	15.9%	38.8%	38.8%	26.8%
Skew 25d	-1.3%	-5.9%	6.5%	-4.5%	-4.3%
Skew 10d	-0.6%	-10.7%	59.4%	-1.6%	-7.6%
Call IV 25d	24.8%	15.3%	30.8%	24.6%	30.8%
Put IV 25d	23.4%	17.8%	31.4%	20.1%	26.5%
Bid-Ask Spread %	94.16	87.42	99.69	87.89	91.43
Gamma HHI	0.68	0.62	0.76	0.62	0.76
Net GEX	651.5K	551.0K	765.4K	551.0K	765.4K
Net DEX	-12.6M	-17.3M	-10.1M	-10.1M	-17.3M
Net VEX	-46.3K	-50.0K	-42.8K	-47.9K	-48.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.39	0.00	5.00	0.00	0.67
Total Volume	149.25	4	779	11	498
Total OI	21,338.7	19,333	22,048	22,038	21,039

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
2019-09-03	$13.56	$15.00	24.9%	7.1%	30.8%	28.5%	0.0%	-4.5%	-0.6%	551.0K	-10.1M	-47.9K	0.00	87.89	11	0	20,906	1,132
2019-09-04	$13.64	$15.00	29.6%	8.5%	30.7%	40.7%	38.8%	-4.5%	-7.6%	591.3K	-10.1M	-46.6K	0.00	87.42	10	0	20,916	1,132
2019-09-05	$13.84	$15.00	21.7%	6.9%	31.2%	20.2%	0.0%	6.2%	4.2%	628.4K	-11.6M	-50.0K	0.00	94.05	7	0	20,915	1,132
2019-09-06	$13.86	$15.00	22.8%	4.1%	28.6%	23.2%	0.0%	2.5%	13.8%	637.5K	-11.6M	-49.4K	0.00	99.60	49	0	20,912	1,132
2019-09-09	$13.74	$15.00	29.2%	9.1%	24.0%	39.5%	0.0%	4.0%	0.4%	569.9K	-10.7M	-45.5K	0.50	92.31	4	2	20,879	1,132
2019-09-10	$13.84	$15.00	26.0%	6.0%	21.0%	31.3%	15.9%	5.0%	2.6%	588.9K	-11.0M	-46.8K	0.22	93.48	9	2	20,875	1,134
2019-09-11	$14.03	$15.00	24.0%	6.9%	21.3%	26.2%	0.0%	6.5%	2.9%	668.5K	-12.2M	-46.7K	0.03	96.25	34	1	20,877	1,134
2019-09-12	$14.09	$15.00	26.1%	7.5%	16.0%	31.6%	26.2%	-4.3%	0.7%	677.6K	-12.7M	-47.5K	0.47	97.21	107	50	20,845	1,134
2019-09-13	$14.23	$15.00	25.7%	7.4%	16.1%	30.5%	26.1%	-5.9%	1.6%	684.5K	-13.4M	-48.5K	0.04	94.06	209	8	20,775	1,134
2019-09-16	$14.10	$15.00	22.8%	6.5%	16.6%	23.2%	0.0%	-3.6%	5.5%	672.0K	-12.5M	-45.6K	0.10	95.94	30	3	20,665	1,124
2019-09-17	$14.22	$15.00	23.3%	6.7%	16.6%	24.4%	23.4%	-2.7%	4.5%	687.5K	-13.1M	-47.0K	0.03	91.88	77	2	20,683	1,127
2019-09-18	$14.28	$15.00	24.6%	7.1%	15.8%	27.8%	0.0%	-3.1%	4.8%	722.2K	-13.5M	-45.7K	0.00	99.69	51	0	20,721	1,129
2019-09-19	$14.20	$15.00	24.0%	6.9%	16.1%	26.2%	0.0%	-3.4%	4.7%	621.5K	-12.9M	-45.8K	5.00	93.04	10	50	20,726	1,078
2019-09-20	$14.35	$15.00	24.7%	7.1%	16.3%	28.0%	24.9%	-3.0%	3.2%	655.7K	-13.6M	-45.0K	0.05	93.52	205	10	20,721	1,099
2019-09-23	$14.18	$15.00	23.8%	6.8%	16.2%	25.7%	23.8%	-1.9%	6.9%	633.5K	-12.8M	-43.8K	0.31	96.29	52	16	18,664	754
2019-09-24	$14.07	$12.50	26.1%	7.5%	16.5%	31.6%	25.9%	-3.4%	4.1%	618.1K	-12.4M	-42.8K	0.01	95.27	613	5	18,578	755
2019-09-25	$14.07	$12.50	22.6%	6.5%	16.5%	22.6%	25.2%	-5.4%	2.8%	660.5K	-12.5M	-43.6K	0.26	95.98	61	16	19,156	760
2019-09-26	$14.23	$15.00	14.7%	4.2%	16.8%	2.2%	0.0%	3.6%	14.0%	685.6K	-13.1M	-43.6K	0.00	94.84	4	0	19,178	775
2019-09-27	$14.61	$15.00	25.0%	7.2%	17.2%	28.8%	25.1%	-4.3%	5.9%	710.1K	-15.5M	-45.5K	0.02	93.04	764	15	19,171	775
2019-09-30	$14.78	$12.50	26.8%	7.7%	17.4%	33.4%	26.8%	-4.3%	3.8%	765.4K	-17.3M	-48.4K	0.67	91.43	298	200	20,257	782