GPK Options History — November 2019

In November 2019, GPK traded between $15.60 and $16.62. ATM implied volatility averaged 22.5%, placing in the 23.0% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded above realized volatility by 7.2% (HV 20d: 15.3%). 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 15 of 20 days. Put/call ratio averaged 0.14.

Notable Days

2019-11-04: Highest Volume — 5,354 contracts
2019-11-07: Largest IV spike — 145.4% change
2019-11-07: Highest IV Rank — 91.8%
2019-11-07: Largest Expected Move — 7.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$16.19	$15.60	$16.62	$15.60	$16.30
Max Pain	$12.63	$12.50	$15.00	$15.00	$12.50
ATM IV	22.5%	14.3%	49.5%	23.3%	15.0%
Expected Move	6.0%	4.1%	7.3%	6.7%	4.3%
HV 20d	15.3%	12.3%	18.1%	17.8%	15.2%
HV 60d	17.7%	16.8%	22.0%	22.0%	17.0%
IV Rank	23.0%	1.4%	91.8%	24.4%	3.4%
IV Percentile	23.4%	0.4%	99.6%	18.7%	1.6%
Term Structure	2.0%	-2.0%	6.7%	0.6%	4.3%
VWIV	22.9%	12.8%	29.2%	23.3%	29.2%
Skew 25d	1.6%	-6.9%	9.7%	2.1%	-1.2%
Skew 10d	21.2%	-7.8%	97.0%	8.3%	-3.7%
Call IV 25d	18.9%	13.9%	23.6%	21.4%	17.2%
Put IV 25d	20.5%	11.3%	25.4%	23.5%	16.0%
Bid-Ask Spread %	54.19	6.66	81.29	6.66	72.69
Gamma HHI	0.84	0.55	0.96	0.93	0.91
Net GEX	328.4K	49.9K	543.6K	543.6K	335.2K
Net DEX	-13.7M	-18.5M	-11.7M	-17.4M	-12.7M
Net VEX	-10.9K	-19.6K	-4.4K	-19.6K	-8.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.14	0.00	1.16	0.37	0.00
Total Volume	403.6	17	5,354	374	17
Total OI	12,422.25	10,269	17,550	17,550	10,269

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
2019-11-01	$15.60	$15.00	23.3%	6.7%	17.8%	24.4%	0.0%	2.1%	0.6%	543.6K	-17.4M	-19.6K	0.37	6.66	273	101	16,311	1,239
2019-11-04	$15.85	$12.50	15.8%	6.7%	18.1%	5.2%	23.3%	0.0%	3.5%	434.5K	-18.5M	-16.6K	0.00	12.20	5,352	2	16,062	1,340
2019-11-05	$15.99	$12.50	18.8%	7.1%	16.2%	12.7%	24.8%	9.7%	1.2%	425.6K	-13.2M	-15.3K	0.02	12.89	249	4	12,413	1,341
2019-11-06	$16.05	$12.50	20.2%	7.1%	16.2%	16.3%	25.0%	1.1%	2.3%	386.6K	-13.3M	-15.1K	0.00	68.31	144	0	12,332	1,341
2019-11-07	$16.02	$12.50	49.5%	7.3%	16.4%	91.8%	25.6%	9.0%	1.5%	519.4K	-13.2M	-16.1K	0.68	63.58	192	130	12,249	1,341
2019-11-08	$16.14	$12.50	26.8%	7.1%	15.2%	33.4%	24.3%	1.2%	1.5%	380.8K	-13.5M	-14.2K	0.02	73.70	43	1	12,246	1,467
2019-11-11	$16.26	$12.50	32.0%	6.3%	15.1%	46.9%	23.3%	2.2%	2.2%	355.5K	-14.0M	-12.2K	0.01	25.09	338	3	12,236	1,467
2019-11-12	$16.36	$12.50	34.8%	6.0%	14.4%	54.0%	13.7%	3.7%	2.4%	346.2K	-14.0M	-11.0K	0.15	24.05	73	11	11,931	1,470
2019-11-13	$16.61	$12.50	15.8%	4.5%	14.7%	5.2%	12.8%	-3.9%	5.3%	339.4K	-15.1M	-7.3K	0.02	33.22	487	9	11,897	1,458
2019-11-14	$16.62	$12.50	14.3%	4.1%	14.9%	1.4%	17.3%	-6.0%	6.7%	101.9K	-14.6M	-4.5K	1.16	80.51	43	50	11,462	1,467
2019-11-15	$16.54	$12.50	19.4%	5.6%	15.3%	15.6%	23.7%	-4.6%	4.6%	238.7K	-13.9M	-7.9K	0.04	66.98	94	4	11,401	1,517
2019-11-18	$16.51	$12.50	20.9%	6.0%	15.3%	19.9%	27.5%	-5.7%	-0.6%	262.7K	-13.5M	-7.9K	0.04	17.26	118	5	9,154	1,121
2019-11-19	$16.45	$12.50	17.0%	4.9%	12.3%	9.0%	25.6%	-6.9%	-1.7%	295.1K	-13.2M	-8.5K	0.04	71.97	47	2	9,144	1,126
2019-11-20	$16.05	$12.50	24.5%	7.0%	15.2%	29.9%	24.1%	9.5%	-2.0%	343.1K	-11.9M	-11.5K	0.00	75.91	58	0	9,157	1,126
2019-11-21	$16.05	$12.50	23.3%	6.7%	14.8%	26.6%	22.3%	7.2%	0.9%	375.3K	-12.0M	-10.8K	0.00	81.29	29	0	9,145	1,126
2019-11-22	$15.97	$12.50	23.6%	6.8%	14.5%	27.6%	23.6%	6.0%	-1.5%	393.2K	-11.7M	-11.3K	0.05	75.82	20	1	9,145	1,126
2019-11-25	$15.93	$12.50	24.4%	7.0%	14.5%	29.6%	24.0%	5.8%	-1.4%	391.2K	-11.7M	-10.9K	0.00	75.28	23	0	9,145	1,127
2019-11-26	$16.19	$12.50	15.8%	4.5%	15.1%	5.4%	0.0%	1.6%	5.5%	49.9K	-13.6M	-4.4K	0.00	72.97	105	0	9,146	1,127
2019-11-27	$16.38	$12.50	14.5%	4.2%	15.2%	1.9%	0.0%	1.1%	4.5%	50.5K	-13.8M	-4.4K	0.10	73.48	40	4	9,146	1,127
2019-11-29	$16.30	$12.50	15.0%	4.3%	15.2%	3.4%	29.2%	-1.2%	4.3%	335.2K	-12.7M	-8.8K	0.00	72.69	17	0	9,146	1,123