GPK Options History — January 2020

In January 2020, GPK traded between $15.64 and $16.79. ATM implied volatility averaged 25.4%, placing in the 37.8% IV rank vs the trailing year. The 30-day expected move averaged 7.5%. IV traded above realized volatility by 9.6% (HV 20d: 15.8%). Max pain ranged from $10.00 to $17.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 0.37.

Notable Days

2020-01-15: Highest Volume — 1,093 contracts
2020-01-03: Largest IV spike — 101.5% change
2020-01-13: Highest IV Rank — 65.2%
2020-01-08: Largest Expected Move — 9.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$16.30	$15.64	$16.79	$16.45	$15.64
Max Pain	$14.52	$10.00	$17.50	$17.50	$15.00
ATM IV	25.4%	14.5%	36.0%	14.5%	27.0%
Expected Move	7.5%	4.2%	9.1%	4.2%	7.7%
HV 20d	15.8%	12.7%	21.2%	14.9%	21.1%
HV 60d	15.6%	14.5%	17.0%	15.9%	17.0%
IV Rank	37.8%	9.5%	65.2%	9.5%	41.8%
IV Percentile	48.2%	3.2%	97.2%	3.2%	61.9%
Term Structure	-1.4%	-12.5%	12.3%	12.3%	-1.3%
VWIV	26.5%	15.1%	30.6%	28.7%	15.1%
Skew 25d	3.3%	-15.4%	10.9%	2.7%	7.3%
Skew 10d	7.7%	-18.9%	46.1%	4.1%	18.8%
Call IV 25d	24.3%	14.5%	33.3%	14.5%	19.7%
Put IV 25d	27.6%	17.2%	32.7%	17.2%	27.0%
Bid-Ask Spread %	88.52	67.15	99.11	81.61	95.18
Gamma HHI	0.59	0.49	0.71	0.65	0.50
Net GEX	83.2K	50.9K	121.6K	50.9K	96.1K
Net DEX	-1.8M	-2.4M	-1.4M	-1.6M	-1.4M
Net VEX	-4.2K	-5.5K	-3.0K	-3.4K	-4.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.37	0.00	1.71	0.00	0.00
Total Volume	79.952	2	1,093	10	2
Total OI	2,144.524	1,549	2,818	1,549	2,818

Daily Data (21 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
2020-01-02	$16.45	$17.50	14.5%	4.2%	14.9%	9.5%	0.0%	2.7%	12.3%	50.9K	-1.6M	-3.4K	0.00	81.61	10	0	1,455	94
2020-01-03	$16.30	$17.50	29.3%	8.4%	15.2%	47.8%	0.0%	-15.4%	-12.5%	52.3K	-1.6M	-3.5K	0.00	90.01	4	0	1,461	94
2020-01-06	$16.11	$10.00	21.9%	8.0%	14.8%	28.6%	0.0%	2.5%	1.3%	54.2K	-1.5M	-3.6K	0.00	91.79	0	5	1,463	92
2020-01-07	$16.05	$10.00	22.6%	8.3%	14.7%	30.4%	0.0%	2.2%	-1.8%	54.5K	-1.4M	-3.6K	0.40	92.15	15	6	1,463	92
2020-01-08	$16.05	$10.00	22.1%	9.1%	14.6%	29.0%	28.7%	2.8%	-7.5%	54.7K	-1.5M	-3.5K	1.67	93.00	3	5	1,464	97
2020-01-09	$16.12	$15.00	23.6%	8.2%	14.3%	33.0%	29.0%	3.0%	-1.1%	53.9K	-1.5M	-3.5K	0.10	91.63	51	5	1,464	101
2020-01-10	$16.14	$15.00	24.6%	8.4%	12.7%	35.6%	29.0%	3.0%	-2.7%	54.2K	-1.5M	-3.3K	0.00	91.60	41	0	1,464	102
2020-01-13	$16.55	$15.00	36.0%	7.1%	15.9%	65.2%	25.7%	5.5%	-1.3%	52.9K	-1.7M	-3.0K	0.20	91.20	10	2	1,459	102
2020-01-14	$16.61	$15.00	32.7%	7.3%	15.1%	56.5%	26.1%	5.3%	-2.6%	51.6K	-1.7M	-3.1K	0.00	90.53	11	0	1,468	102
2020-01-15	$16.60	$15.00	24.6%	7.1%	14.7%	35.6%	24.7%	2.9%	-1.3%	54.1K	-1.7M	-3.0K	0.00	94.71	1,092	1	1,474	102
2020-01-16	$16.79	$15.00	24.9%	7.1%	14.7%	36.4%	0.0%	4.0%	-1.9%	121.6K	-2.4M	-5.3K	0.70	93.56	23	16	2,523	102
2020-01-17	$16.61	$15.00	24.8%	7.1%	15.1%	36.1%	0.0%	3.5%	-1.6%	114.3K	-2.2M	-5.5K	0.00	94.33	2	0	2,523	108
2020-01-21	$16.48	$15.00	26.7%	7.7%	14.3%	41.1%	29.9%	2.4%	-3.7%	112.5K	-2.2M	-5.2K	0.14	67.15	7	1	2,484	98
2020-01-22	$16.51	$15.00	26.3%	7.5%	14.2%	39.9%	26.0%	3.8%	-3.1%	114.2K	-2.2M	-5.3K	0.00	86.70	28	0	2,490	99
2020-01-23	$16.61	$15.00	26.8%	7.7%	14.2%	41.3%	0.0%	4.5%	-2.5%	116.1K	-2.3M	-5.1K	0.00	75.31	8	0	2,506	99
2020-01-24	$16.39	$15.00	27.3%	7.8%	14.9%	42.5%	28.8%	2.4%	-2.8%	113.5K	-2.1M	-5.2K	0.86	82.73	58	50	2,508	99
2020-01-27	$16.45	$15.00	29.6%	8.5%	15.0%	48.5%	30.6%	3.1%	-3.6%	111.9K	-2.1M	-5.0K	1.71	68.22	45	77	2,520	148
2020-01-28	$15.85	$15.00	24.0%	6.9%	19.8%	34.0%	24.0%	6.4%	-0.4%	100.8K	-1.5M	-4.1K	1.00	94.72	20	20	2,548	205
2020-01-29	$16.10	$15.00	20.2%	5.8%	20.8%	24.1%	15.1%	10.9%	10.2%	109.7K	-1.8M	-4.4K	0.38	93.79	32	12	2,546	205
2020-01-30	$15.86	$15.00	25.0%	7.2%	21.2%	36.6%	0.0%	6.7%	-1.9%	102.8K	-1.6M	-4.2K	0.21	99.11	14	3	2,576	217
2020-01-31	$15.64	$15.00	27.0%	7.7%	21.1%	41.8%	0.0%	7.3%	-1.3%	96.1K	-1.4M	-4.3K	0.00	95.18	2	0	2,588	230