GPK Options History — February 2020

In February 2020, GPK traded between $13.30 and $16.41. ATM implied volatility averaged 26.2%, placing in the 36.2% IV rank vs the trailing year. The 30-day expected move averaged 7.8%. IV traded below realized volatility by 4.1% (HV 20d: 30.4%). Max pain ranged from $15.00 to $15.00. Net GEX was positive for 13 of 19 trading days. Term structure was in contango for 12 of 19 days. Put/call ratio averaged 1.12.

Notable Days

2020-02-20: Highest Volume — 4,041 contracts
2020-02-14: Largest IV spike — 50.0% change
2020-02-26: Highest IV Rank — 100.0%
2020-02-26: Largest Expected Move — 17.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.47	$13.30	$16.41	$15.84	$13.30
Max Pain	$15.00	$15.00	$15.00	$15.00	$15.00
ATM IV	26.2%	11.6%	59.9%	20.9%	52.5%
Expected Move	7.8%	3.3%	17.2%	6.0%	15.1%
HV 20d	30.4%	21.3%	52.0%	21.6%	51.1%
HV 60d	21.7%	17.1%	33.0%	17.1%	33.0%
IV Rank	36.2%	1.7%	100.0%	25.9%	85.0%
IV Percentile	38.2%	0.8%	100.0%	16.3%	99.6%
Term Structure	-1.7%	-51.8%	10.8%	8.5%	-9.5%
VWIV	31.5%	13.7%	52.4%	27.5%	52.4%
Skew 25d	6.7%	-6.5%	19.2%	8.4%	19.2%
Skew 10d	28.4%	-6.8%	109.1%	27.1%	20.7%
Call IV 25d	20.5%	11.9%	40.4%	16.5%	33.7%
Put IV 25d	27.2%	15.3%	52.9%	24.9%	52.9%
Bid-Ask Spread %	68.28	47.13	102.37	94.59	102.37
Gamma HHI	0.60	0.49	0.90	0.49	0.86
Net GEX	52.6K	-86.1K	120.1K	101.6K	-72.7K
Net DEX	-301.5K	-2.1M	3.9M	-1.6M	3.9M
Net VEX	-6.8K	-14.9K	-2.6K	-4.1K	-11.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.12	0.00	8.29	0.00	0.60
Total Volume	331.474	0	4,041	15	315
Total OI	4,102.263	2,818	7,099	2,818	6,724

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
2020-02-03	$15.84	$15.00	20.9%	6.0%	21.6%	25.9%	0.0%	8.4%	8.5%	101.6K	-1.6M	-4.1K	0.00	94.59	15	0	2,588	230
2020-02-04	$15.89	$15.00	16.3%	4.7%	21.3%	14.0%	0.0%	-1.5%	7.1%	103.3K	-1.6M	-4.0K	0.00	50.02	0	0	2,603	230
2020-02-05	$16.13	$15.00	20.8%	6.0%	22.0%	25.8%	0.0%	0.6%	0.6%	111.3K	-1.9M	-4.0K	1.00	48.19	1	1	2,603	230
2020-02-06	$16.18	$15.00	17.4%	7.0%	22.0%	16.9%	0.0%	10.1%	1.0%	115.3K	-1.9M	-4.0K	0.00	54.03	4	0	2,606	230
2020-02-07	$15.91	$15.00	17.6%	7.0%	22.8%	17.6%	0.0%	8.6%	-0.1%	108.6K	-1.7M	-3.8K	0.00	52.71	1	0	2,607	230
2020-02-10	$15.85	$15.00	21.0%	7.2%	22.8%	26.2%	0.0%	10.8%	-0.2%	105.1K	-1.6M	-3.7K	5.00	53.41	2	10	2,607	230
2020-02-11	$16.21	$15.00	22.5%	6.8%	22.4%	30.1%	0.0%	9.6%	1.9%	113.8K	-1.9M	-3.7K	0.00	57.02	1	0	2,607	230
2020-02-12	$16.38	$15.00	11.6%	3.3%	22.7%	1.7%	27.5%	11.4%	10.8%	120.1K	-2.1M	-3.9K	0.00	47.13	14	0	2,608	230
2020-02-13	$16.41	$15.00	15.5%	4.5%	22.7%	12.1%	30.2%	3.8%	2.0%	119.2K	-2.1M	-4.0K	0.00	59.28	3	0	2,597	230
2020-02-14	$16.12	$15.00	23.3%	6.7%	23.1%	32.2%	23.6%	8.0%	2.1%	110.4K	-1.9M	-3.3K	0.00	57.72	0	10	2,597	230
2020-02-18	$16.32	$15.00	12.8%	3.7%	23.4%	5.0%	0.0%	9.5%	9.6%	119.4K	-2.0M	-3.1K	0.00	54.49	0	0	2,597	236
2020-02-19	$15.93	$15.00	17.4%	5.0%	24.7%	16.8%	13.7%	6.6%	10.6%	99.8K	-1.7M	-2.6K	1.00	55.24	1	1	2,597	236
2020-02-20	$16.02	$15.00	21.9%	6.3%	24.8%	28.5%	24.5%	8.7%	5.7%	107.0K	-1.8M	-3.0K	0.00	70.32	0	4,041	2,597	237
2020-02-21	$16.10	$15.00	24.4%	7.0%	24.8%	35.1%	0.0%	10.4%	1.9%	-49.3K	32.0K	-14.9K	0.00	57.54	1	0	2,597	4,273
2020-02-24	$14.16	$15.00	32.8%	9.4%	51.4%	56.9%	32.8%	-6.5%	-2.9%	-76.3K	3.2M	-14.2K	0.76	79.49	416	317	2,464	4,201
2020-02-25	$13.69	$15.00	43.7%	12.5%	52.0%	85.0%	32.5%	2.1%	-16.3%	-77.4K	3.8M	-13.2K	8.29	101.61	7	58	2,666	4,367
2020-02-26	$13.69	$15.00	59.9%	17.2%	51.1%	100.0%	34.5%	3.0%	-51.8%	-73.6K	3.5M	-14.0K	0.01	100.42	1,022	12	2,670	4,429
2020-02-27	$13.72	$15.00	46.5%	13.3%	50.5%	72.7%	43.0%	4.0%	-13.4%	-86.1K	3.7M	-13.7K	0.22	101.74	37	8	2,297	4,432
2020-02-28	$13.30	$15.00	52.5%	15.1%	51.1%	85.0%	52.4%	19.2%	-9.5%	-72.7K	3.9M	-11.9K	0.60	102.37	197	118	2,292	4,432