GPK Options History — March 2021

In March 2021, GPK traded between $16.40 and $18.61. ATM implied volatility averaged 26.3%, placing in the 10.8% IV rank vs the trailing year. The 30-day expected move averaged 7.6%. IV traded above realized volatility by 3.6% (HV 20d: 22.7%). Max pain ranged from $15.00 to $17.50. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 20 of 23 days. Put/call ratio averaged 0.31.

Notable Days

  • 2021-03-08: Highest Volume — 596 contracts
  • 2021-03-03: Largest IV spike — 84.4% change
  • 2021-03-08: Highest IV Rank — 17.6%
  • 2021-03-03: Largest Expected Move — 8.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$17.57$16.40$18.61$16.45$18.28
Max Pain$16.85$15.00$17.50$15.00$17.50
ATM IV26.3%16.7%32.3%24.8%18.6%
Expected Move7.6%4.8%8.8%7.1%5.3%
HV 20d22.7%19.3%25.6%21.1%25.4%
HV 60d24.0%22.8%25.5%23.0%25.5%
IV Rank10.8%0.0%17.6%6.4%2.1%
IV Percentile22.2%0.0%53.6%7.9%0.4%
Term Structure2.7%-1.4%13.9%-1.4%5.7%
VWIV26.9%15.5%33.5%29.5%22.7%
Skew 25d2.6%-8.5%9.9%-5.9%-8.5%
Skew 10d4.0%-9.5%16.2%-6.4%-3.3%
Call IV 25d24.6%15.5%33.8%29.4%23.8%
Put IV 25d27.1%15.4%33.6%23.5%15.4%
Bid-Ask Spread %59.2715.0997.1697.1645.82
Gamma HHI0.660.350.900.740.35
Net GEX108.3K32.6K212.5K91.7K32.6K
Net DEX-1.7M-2.7M-772.8K-1.0M-1.3M
Net VEX-7.1K-8.3K-6.0K-7.1K-6.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.310.003.390.043.39
Total Volume168.609459627136
Total OI3,409.6522,3114,1603,7892,582

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2021-03-01$16.45$15.0024.8%7.1%21.1%6.4%29.5%-5.9%-1.4%91.7K-1.0M-7.1K0.0497.162612,815974
2021-03-02$16.47$15.0016.7%4.8%20.1%0.0%15.5%2.4%13.9%67.4K-772.8K-6.0K0.1469.96297432,828974
2021-03-03$16.60$15.0030.8%8.8%19.3%15.9%29.7%-1.9%-1.2%120.2K-1.2M-7.8K0.0172.627113,0841,015
2021-03-04$16.40$15.0023.1%6.6%19.9%7.2%29.4%3.3%2.4%86.6K-841.2K-6.9K0.0271.904213,0941,014
2021-03-05$16.73$15.0020.3%7.9%21.0%4.1%31.9%4.2%2.5%122.3K-1.4M-8.3K0.0091.1410503,0941,015
2021-03-08$17.38$15.0032.3%8.4%24.6%17.6%29.4%8.8%2.0%212.5K-2.2M-8.1K0.0150.7859063,1441,015
2021-03-09$17.41$17.5031.2%8.6%24.6%16.3%33.5%-0.2%1.7%190.1K-2.1M-8.2K0.0130.4530522,9751,021
2021-03-10$17.36$17.5029.6%8.5%23.0%14.5%17.9%9.9%1.9%202.1K-2.0M-8.2K0.0061.5516203,1381,022
2021-03-11$17.52$17.5030.1%8.6%23.1%15.1%30.1%1.7%0.8%202.9K-2.1M-8.0K0.0739.2712382,9931,022
2021-03-12$17.65$17.5028.5%8.2%22.6%13.3%28.8%-5.6%1.7%191.1K-2.3M-7.9K0.0487.9624692,8991,022
2021-03-15$17.94$17.5029.3%8.4%23.1%14.2%29.3%-4.1%1.7%181.9K-2.6M-7.6K0.0863.89265202,8741,023
2021-03-16$17.93$17.5027.7%7.9%22.1%12.4%28.5%-2.4%3.1%123.3K-2.7M-6.9K0.0252.9435962,8001,035
2021-03-17$17.89$17.5028.2%8.1%21.9%13.0%28.2%6.7%1.8%184.2K-2.7M-7.2K0.0275.466412,8271,041
2021-03-18$18.13$17.5028.3%8.1%20.7%13.0%27.8%0.1%2.4%89.8K-2.7M-7.1K0.0057.1734702,7221,042
2021-03-19$18.09$17.5026.3%7.5%20.9%10.8%26.3%0.4%2.4%55.7K-2.6M-6.7K0.0815.0911292,6851,042
2021-03-22$18.01$17.5026.0%7.5%21.1%10.5%26.0%8.2%3.1%52.7K-1.2M-6.7K0.5092.021681,827531
2021-03-23$17.39$17.5023.7%6.8%24.8%7.9%23.7%4.2%4.0%45.8K-918.2K-6.6K0.0539.054021,824537
2021-03-24$17.45$17.5023.5%6.7%24.6%7.7%23.5%4.8%4.8%41.2K-905.2K-6.4K0.0677.271711,774537
2021-03-25$17.89$17.5025.7%7.4%25.6%10.2%0.0%8.0%3.6%46.5K-1.1M-6.5K0.0040.04401,785538
2021-03-26$18.12$17.5025.4%7.3%25.3%9.9%25.4%7.4%2.6%49.8K-1.2M-6.5K1.0062.62221,789538
2021-03-29$18.40$17.5025.5%7.3%23.9%10.0%25.3%8.6%4.3%52.5K-1.4M-6.4K1.6235.141252021,780540
2021-03-30$18.61$17.5030.4%8.7%23.9%15.4%29.7%9.4%-0.7%49.0K-1.5M-6.5K0.0533.929751,864727
2021-03-31$18.28$17.5018.6%5.3%25.4%2.1%22.7%-8.5%5.7%32.6K-1.3M-6.6K3.3945.82311051,851731