GPK Options History — February 2021

In February 2021, GPK traded between $15.94 and $16.84. ATM implied volatility averaged 31.7%, placing in the 18.8% IV rank vs the trailing year. The 30-day expected move averaged 9.2%. IV traded above realized volatility by 6.8% (HV 20d: 25.0%). Max pain ranged from $15.00 to $17.50. Net GEX was positive for 18 of 19 trading days. Term structure was in contango for 15 of 19 days. Put/call ratio averaged 2.94.

Notable Days

2021-02-10: Highest Volume — 2,279 contracts
2021-02-08: Largest IV spike — 152.8% change
2021-02-08: Highest IV Rank — 47.1%
2021-02-01: Largest Expected Move — 13.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$16.31	$15.94	$16.84	$15.94	$15.95
Max Pain	$15.13	$15.00	$17.50	$17.50	$15.00
ATM IV	31.7%	22.0%	55.7%	46.6%	31.5%
Expected Move	9.2%	7.1%	13.4%	13.4%	9.0%
HV 20d	25.0%	20.1%	30.6%	29.7%	20.3%
HV 60d	23.4%	22.1%	26.0%	26.0%	22.4%
IV Rank	18.8%	6.5%	47.1%	37.4%	14.3%
IV Percentile	41.2%	5.2%	90.5%	83.7%	48.8%
Term Structure	4.6%	-3.1%	59.8%	-1.0%	2.2%
VWIV	32.6%	27.7%	40.6%	40.6%	32.6%
Skew 25d	2.1%	-13.6%	11.4%	8.2%	5.3%
Skew 10d	14.5%	-4.2%	82.9%	52.4%	6.8%
Call IV 25d	30.8%	22.9%	39.7%	39.7%	26.8%
Put IV 25d	32.9%	20.5%	47.9%	47.9%	32.1%
Bid-Ask Spread %	77.50	28.49	105.01	105.01	96.99
Gamma HHI	0.69	0.27	0.89	0.56	0.69
Net GEX	74.7K	-33.3K	197.2K	30.8K	57.3K
Net DEX	117.2K	-1.6M	3.6M	-397.5K	-632.0K
Net VEX	-5.8K	-7.8K	-3.2K	-3.2K	-6.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.94	0.00	34.00	0.03	34.00
Total Volume	424.789	0	2,279	1,429	245
Total OI	4,544.526	2,123	7,747	2,123	3,694

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
2021-02-01	$15.94	$17.50	46.6%	13.4%	29.7%	37.4%	40.6%	8.2%	-1.0%	30.8K	-397.5K	-3.2K	0.03	105.01	1,393	36	1,740	383
2021-02-02	$16.22	$15.00	28.0%	8.0%	30.6%	17.6%	33.2%	-13.6%	0.6%	93.7K	-908.9K	-4.5K	0.02	105.00	618	11	2,948	398
2021-02-03	$16.20	$15.00	34.7%	9.9%	30.5%	24.7%	32.3%	-2.2%	-2.7%	98.6K	-994.9K	-4.7K	0.23	81.60	148	34	3,113	401
2021-02-04	$16.24	$15.00	30.6%	9.4%	23.2%	20.3%	31.0%	0.4%	-0.6%	100.9K	-1.1M	-4.6K	0.03	30.13	194	5	3,092	392
2021-02-05	$16.39	$15.00	22.0%	8.8%	22.7%	11.2%	31.0%	3.4%	1.1%	103.8K	-1.1M	-4.4K	0.00	54.43	294	1	3,262	397
2021-02-08	$16.39	$15.00	55.7%	12.3%	22.7%	47.1%	34.6%	0.6%	-3.1%	109.2K	-1.2M	-4.8K	0.01	79.75	186	2	3,270	396
2021-02-09	$16.84	$15.00	22.6%	8.8%	25.3%	11.8%	30.1%	4.9%	0.7%	172.3K	-1.5M	-5.2K	0.03	60.57	471	15	3,372	396
2021-02-10	$16.80	$15.00	30.2%	8.7%	24.8%	19.9%	30.0%	5.6%	1.3%	197.2K	-1.6M	-5.6K	4.84	93.18	390	1,889	3,727	407
2021-02-11	$16.61	$15.00	32.4%	9.3%	24.7%	22.2%	35.0%	3.3%	0.5%	21.2K	809.1K	-6.4K	0.00	98.28	9	0	3,592	2,149
2021-02-12	$16.69	$15.00	32.4%	9.3%	24.4%	21.2%	34.0%	4.6%	0.0%	16.6K	961.7K	-6.2K	7.68	96.55	120	922	3,590	2,149
2021-02-16	$16.45	$15.00	31.3%	9.0%	24.8%	20.0%	33.2%	2.6%	1.9%	-33.3K	3.0M	-5.0K	2.00	71.70	55	110	3,494	3,155
2021-02-17	$16.35	$15.00	31.3%	9.0%	24.7%	20.0%	31.1%	1.1%	1.1%	78.2K	3.6M	-4.0K	1.02	63.91	294	300	3,515	3,265
2021-02-18	$16.09	$15.00	29.5%	8.4%	25.0%	13.8%	30.1%	-0.4%	59.8%	960	3.2M	-7.8K	0.92	28.49	111	102	3,994	3,565
2021-02-19	$16.26	$15.00	24.9%	7.1%	25.5%	6.5%	27.7%	4.8%	3.2%	84.5K	3.5M	-7.8K	0.00	41.38	24	0	4,080	3,667
2021-02-22	$16.32	$15.00	28.4%	8.1%	25.6%	10.6%	30.5%	1.2%	0.1%	81.6K	-946.6K	-7.5K	0.00	82.40	77	0	2,770	879
2021-02-23	$16.12	$15.00	28.1%	8.1%	25.4%	10.3%	33.0%	1.0%	10.4%	68.3K	-808.7K	-7.4K	2.00	85.36	2	4	2,815	881
2021-02-24	$16.05	$15.00	34.1%	9.8%	24.5%	17.3%	0.0%	11.4%	1.0%	69.9K	-805.8K	-7.4K	0.00	98.79	0	0	2,816	883
2021-02-25	$16.06	$15.00	28.5%	8.2%	20.1%	10.8%	37.5%	-2.0%	11.4%	67.7K	-781.5K	-7.2K	0.13	98.98	8	1	2,816	883
2021-02-26	$15.95	$15.00	31.5%	9.0%	20.3%	14.3%	32.6%	5.3%	2.2%	57.3K	-632.0K	-6.8K	34.00	96.99	7	238	2,810	884