GPK Options History — January 2021

In January 2021, GPK traded between $15.62 and $18.14. ATM implied volatility averaged 32.9%, placing in the 22.8% IV rank vs the trailing year. The 30-day expected move averaged 9.8%. IV traded above realized volatility by 9.3% (HV 20d: 23.6%). Max pain ranged from $15.00 to $17.50. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 4 of 19 days. Put/call ratio averaged 0.09.

Notable Days

2021-01-22: Highest Volume — 291 contracts
2021-01-27: Largest IV spike — 74.7% change
2021-01-27: Highest IV Rank — 51.2%
2021-01-27: Largest Expected Move — 17.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$17.25	$15.62	$18.14	$16.86	$15.62
Max Pain	$16.84	$15.00	$17.50	$15.00	$17.50
ATM IV	32.9%	25.2%	59.6%	25.5%	44.5%
Expected Move	9.8%	8.5%	17.1%	8.7%	12.8%
HV 20d	23.6%	16.2%	28.4%	17.2%	28.4%
HV 60d	26.5%	25.3%	27.5%	25.5%	26.4%
IV Rank	22.8%	14.5%	51.2%	14.9%	35.2%
IV Percentile	51.0%	17.9%	92.5%	19.4%	81.3%
Term Structure	-2.0%	-30.2%	14.7%	0.3%	-8.8%
VWIV	35.8%	30.3%	51.3%	30.8%	51.3%
Skew 25d	-1.5%	-9.5%	8.2%	2.8%	5.1%
Skew 10d	0.3%	-15.0%	33.6%	2.3%	10.4%
Call IV 25d	33.5%	24.4%	46.7%	31.7%	46.3%
Put IV 25d	32.0%	25.4%	51.4%	34.5%	51.4%
Bid-Ask Spread %	79.99	12.48	102.02	88.08	97.50
Gamma HHI	0.67	0.39	0.93	0.87	0.55
Net GEX	52.7K	19.5K	231.8K	44.6K	24.5K
Net DEX	-622.5K	-1.1M	-277.1K	-448.3K	-277.1K
Net VEX	-2.3K	-2.9K	-2.1K	-2.1K	-2.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.09	0.00	0.71	0.00	0.04
Total Volume	101.947	14	291	14	81
Total OI	1,421.421	1,153	2,078	1,153	2,078

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
2021-01-04	$16.86	$15.00	25.5%	8.7%	17.2%	14.9%	0.0%	2.8%	0.3%	44.6K	-448.3K	-2.1K	0.00	88.08	14	0	816	337
2021-01-05	$16.89	$15.00	25.2%	8.7%	16.2%	14.5%	0.0%	3.4%	-0.8%	52.5K	-468.2K	-2.1K	0.00	90.24	33	0	821	337
2021-01-06	$17.78	$15.00	28.7%	8.8%	23.5%	18.3%	0.0%	-3.5%	-0.1%	52.9K	-765.5K	-2.1K	0.01	101.72	146	2	816	337
2021-01-07	$18.05	$15.00	30.0%	9.1%	23.8%	19.7%	30.8%	-2.1%	-1.5%	60.6K	-965.1K	-2.1K	0.07	95.19	117	8	898	338
2021-01-08	$17.95	$15.00	29.7%	9.3%	23.9%	19.4%	30.8%	-1.6%	-0.7%	61.8K	-935.9K	-2.1K	0.11	77.65	150	16	927	346
2021-01-11	$17.95	$17.50	32.4%	9.1%	23.9%	22.2%	40.6%	-9.2%	0.8%	67.1K	-981.7K	-2.3K	0.00	82.38	73	0	1,057	361
2021-01-12	$18.14	$17.50	28.1%	9.6%	23.9%	17.7%	30.8%	0.1%	-2.6%	51.2K	-1.1M	-2.2K	0.00	92.10	31	0	1,085	361
2021-01-13	$17.90	$17.50	33.1%	9.5%	22.9%	22.9%	33.1%	-4.8%	-0.9%	64.8K	-1.1M	-2.2K	0.10	93.05	60	6	1,110	361
2021-01-14	$17.61	$17.50	32.9%	9.4%	23.6%	22.7%	32.9%	-6.8%	-0.3%	110.0K	-809.3K	-2.3K	0.71	78.14	49	35	1,103	364
2021-01-15	$17.57	$17.50	32.1%	9.2%	23.7%	21.9%	32.1%	8.2%	-0.3%	231.8K	-816.2K	-2.3K	0.27	96.60	44	12	1,112	384
2021-01-19	$17.40	$17.50	31.3%	9.0%	23.8%	21.1%	31.3%	-1.2%	0.1%	19.5K	-425.6K	-2.1K	0.00	83.06	19	0	825	361
2021-01-20	$17.47	$17.50	31.8%	9.1%	23.7%	21.6%	31.4%	1.5%	-0.2%	20.9K	-443.9K	-2.2K	0.36	43.25	28	10	843	361
2021-01-21	$17.38	$17.50	32.4%	9.3%	23.2%	22.2%	32.4%	1.4%	-1.9%	21.8K	-434.9K	-2.3K	0.00	12.48	42	0	863	371
2021-01-22	$17.32	$17.50	32.2%	9.2%	23.1%	22.0%	36.9%	-9.5%	-1.2%	22.4K	-433.1K	-2.3K	0.00	45.61	291	0	881	371
2021-01-25	$17.05	$17.50	32.5%	9.3%	23.5%	22.4%	30.3%	-4.0%	-1.5%	24.6K	-389.8K	-2.3K	0.00	95.62	143	0	1,150	371
2021-01-26	$16.69	$17.50	34.1%	9.8%	24.6%	24.0%	38.7%	-1.1%	-2.7%	24.5K	-371.6K	-2.5K	0.06	45.66	143	8	1,268	371
2021-01-27	$16.05	$17.50	59.6%	17.1%	28.1%	51.2%	40.3%	1.2%	-30.2%	20.7K	-333.5K	-2.7K	0.02	102.02	210	5	1,327	378
2021-01-28	$15.99	$17.50	29.5%	8.5%	28.1%	19.2%	48.8%	-8.8%	14.7%	24.4K	-310.6K	-2.8K	0.00	99.47	161	0	1,536	381
2021-01-29	$15.62	$17.50	44.5%	12.8%	28.4%	35.2%	51.3%	5.1%	-8.8%	24.5K	-277.1K	-2.9K	0.04	97.50	78	3	1,697	381