GPK Options History — April 2020

In April 2020, GPK traded between $11.34 and $13.78. ATM implied volatility averaged 43.5%, placing in the 35.2% IV rank vs the trailing year. The 30-day expected move averaged 12.9%. IV traded below realized volatility by 15.3% (HV 20d: 58.8%). Max pain ranged from $12.50 to $12.50. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 2.35.

Notable Days

  • 2020-04-14: Highest Volume — 3,037 contracts
  • 2020-04-08: Largest IV spike — 64.6% change
  • 2020-04-01: Highest IV Rank — 50.2%
  • 2020-04-01: Largest Expected Move — 16.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$12.87$11.34$13.78$11.81$13.39
Max Pain$12.50$12.50$12.50$12.50$12.50
ATM IV43.5%28.3%57.3%57.3%28.3%
Expected Move12.9%8.1%16.4%16.4%8.1%
HV 20d58.8%42.6%73.1%64.4%42.7%
HV 60d54.5%50.5%55.4%50.5%55.4%
IV Rank35.2%18.8%50.2%50.2%18.8%
IV Percentile81.2%50.8%93.3%93.3%50.8%
Term Structure0.9%-6.7%18.6%-5.4%10.4%
VWIV43.6%21.7%73.6%47.0%34.4%
Skew 25d5.7%-13.6%23.4%8.0%-0.1%
Skew 10d4.6%-26.5%58.6%14.4%0.1%
Call IV 25d39.2%23.6%55.7%55.7%24.4%
Put IV 25d44.9%23.8%63.7%63.7%24.4%
Bid-Ask Spread %79.3444.29111.5796.34111.57
Gamma HHI0.650.390.910.390.80
Net GEX-46.4K-81.2K-954-28.3K-79.8K
Net DEX3.6M2.6M4.4M4.2M3.7M
Net VEX-9.4K-11.7K-4.9K-6.9K-10.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.350.0020.000.380.00
Total Volume302.14303,037015
Total OI7,979.6676,3429,5888,4597,604

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2020-04-01$11.81$12.5057.3%16.4%64.4%50.2%0.0%8.0%-5.4%-28.3K4.2M-6.9K0.0096.34003,2805,179
2020-04-02$12.11$12.5052.0%12.7%65.4%44.4%0.0%4.0%-0.2%-27.2K4.1M-7.4K0.0097.93003,2805,179
2020-04-03$11.34$12.5030.7%11.5%67.5%21.4%47.0%12.9%-0.4%-31.1K4.4M-4.9K0.3885.792493,2805,179
2020-04-06$12.14$12.5044.7%14.8%72.9%36.5%0.0%11.8%-6.7%-21.9K4.1M-7.4K0.0075.93503,3015,170
2020-04-07$12.32$12.5028.6%14.3%72.7%19.1%0.0%-5.1%-2.8%-9544.0M-7.4K8.0096.469723,2985,128
2020-04-08$12.86$12.5047.1%13.5%73.1%39.1%47.1%3.1%0.2%-31.8K3.5M-9.1K0.0099.8123503,2985,194
2020-04-09$12.99$12.5046.9%13.4%71.2%38.9%46.9%10.4%1.0%-19.9K3.1M-10.6K0.0081.443103,3395,194
2020-04-13$13.02$12.5055.4%15.9%71.1%48.1%73.6%9.6%-1.6%-29.1K3.1M-9.8K2.3688.2528663,3585,194
2020-04-14$13.07$12.5043.3%12.4%66.7%35.0%0.0%1.6%7.5%-44.8K3.1M-9.3K0.0091.753,03613,3605,252
2020-04-15$12.91$12.5045.8%13.1%66.5%37.7%31.5%9.5%0.0%-10.9K3.1M-9.4K0.0096.3428303,9375,252
2020-04-16$12.97$12.5054.4%15.6%61.3%47.0%50.0%-1.6%-1.5%-48.1K2.8M-10.3K0.0747.06150104,1795,258
2020-04-17$13.22$12.5048.8%14.0%61.4%40.9%48.2%4.6%4.8%-64.5K2.6M-11.1K0.9679.541141104,3305,258
2020-04-20$13.19$12.5053.7%15.4%57.1%46.2%48.6%2.6%-5.7%-63.3K3.5M-11.0K0.0145.3533651,7764,566
2020-04-21$13.11$12.5053.6%15.4%55.3%46.1%47.3%23.4%-3.4%-55.8K3.5M-10.9K0.2570.068001982,1134,620
2020-04-22$13.02$12.5044.9%12.9%47.2%36.8%44.7%11.9%-1.2%-57.4K3.8M-10.2K4.5970.2017782,2574,711
2020-04-23$12.93$12.5042.2%12.1%44.7%33.8%42.1%11.3%2.2%-60.5K4.1M-9.4K8.0061.542162,2584,787
2020-04-24$13.02$12.5041.8%12.0%44.4%33.4%41.8%11.6%-0.5%-63.8K4.0M-9.9K20.0064.651202,2604,793
2020-04-27$13.31$12.5031.3%9.0%42.6%22.1%21.7%17.7%18.6%-73.3K3.9M-9.8K0.0065.591302,2564,803
2020-04-28$13.66$12.5029.6%8.5%42.9%20.2%35.0%-13.6%8.2%-81.2K3.4M-11.3K0.0044.293802,2504,803
2020-04-29$13.78$12.5032.8%9.4%42.8%23.7%38.2%-13.0%-4.5%-81.1K3.2M-11.7K0.0196.2861942,2314,808
2020-04-30$13.39$12.5028.3%8.1%42.7%18.8%34.4%-0.1%10.4%-79.8K3.7M-10.2K0.00111.571502,7974,807