GPK Options History — April 2021

In April 2021, GPK traded between $17.93 and $18.77. ATM implied volatility averaged 25.5%, placing in the 10.4% IV rank vs the trailing year. The 30-day expected move averaged 7.9%. IV traded above realized volatility by 1.1% (HV 20d: 24.4%). Max pain ranged from $10.00 to $17.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 5 of 21 days. Put/call ratio averaged 0.25.

Notable Days

2021-04-13: Highest Volume — 1,437 contracts
2021-04-05: Largest IV spike — 50.7% change
2021-04-26: Highest IV Rank — 17.5%
2021-04-26: Largest Expected Move — 9.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$18.38	$17.93	$18.77	$18.29	$18.54
Max Pain	$12.86	$10.00	$17.50	$17.50	$10.00
ATM IV	25.5%	16.1%	31.6%	17.4%	24.3%
Expected Move	7.9%	5.0%	9.1%	5.0%	7.0%
HV 20d	24.4%	21.4%	26.2%	24.7%	23.6%
HV 60d	23.9%	22.7%	25.5%	25.5%	22.7%
IV Rank	10.4%	0.0%	17.5%	0.8%	9.2%
IV Percentile	26.5%	0.0%	63.9%	0.4%	13.5%
Term Structure	-0.1%	-3.2%	8.5%	8.5%	-1.0%
VWIV	27.0%	19.8%	30.5%	19.8%	22.8%
Skew 25d	2.0%	-3.7%	7.0%	-3.7%	4.6%
Skew 10d	0.6%	-8.3%	9.6%	-7.1%	9.6%
Call IV 25d	25.3%	16.8%	29.1%	21.7%	17.2%
Put IV 25d	27.3%	18.0%	31.6%	18.0%	21.8%
Bid-Ask Spread %	59.34	15.14	98.36	62.57	63.72
Gamma HHI	0.38	0.32	0.42	0.32	0.42
Net GEX	76.4K	20.6K	103.7K	24.0K	103.7K
Net DEX	-3.4M	-5.0M	-1.1M	-1.2M	-4.8M
Net VEX	-9.5K	-11.8K	-6.7K	-6.7K	-10.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.25	0.00	1.45	0.00	0.50
Total Volume	231.762	16	1,437	264	30
Total OI	4,963.667	2,690	6,459	2,690	6,441

Daily Data (21 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
2021-04-01	$18.29	$17.50	17.4%	5.0%	24.7%	0.8%	19.8%	-3.7%	8.5%	24.0K	-1.2M	-6.7K	0.00	62.57	264	0	1,856	834
2021-04-05	$18.64	$17.50	26.3%	8.4%	24.6%	10.8%	28.9%	3.9%	-1.5%	56.3K	-1.6M	-7.2K	0.26	90.64	38	10	2,105	834
2021-04-06	$18.77	$17.50	21.8%	7.4%	21.4%	5.8%	27.3%	3.3%	0.4%	55.0K	-1.7M	-7.0K	0.11	15.14	44	5	2,141	872
2021-04-07	$18.55	$17.50	17.5%	8.0%	22.1%	0.9%	28.2%	2.2%	-0.1%	46.7K	-1.6M	-7.0K	1.45	39.07	22	32	2,162	876
2021-04-08	$17.93	$17.50	23.2%	7.8%	25.7%	7.3%	27.2%	-1.5%	-0.3%	20.6K	-1.1M	-7.3K	0.01	75.83	181	2	2,181	908
2021-04-09	$18.09	$17.50	16.1%	8.1%	25.7%	0.0%	0.0%	0.5%	-0.1%	32.3K	-1.3M	-7.4K	0.05	87.30	909	42	2,255	910
2021-04-12	$18.31	$17.50	24.1%	9.0%	25.9%	9.0%	29.0%	0.5%	-0.6%	74.7K	-1.8M	-9.9K	0.00	88.62	187	0	3,219	915
2021-04-13	$18.14	$17.50	25.2%	8.1%	25.6%	10.3%	27.6%	-0.6%	-0.1%	73.6K	-1.7M	-10.1K	0.06	75.15	1,361	76	3,389	914
2021-04-14	$18.01	$10.00	29.4%	8.4%	25.7%	14.9%	29.4%	0.3%	-0.7%	72.4K	-3.6M	-9.9K	0.02	22.93	42	1	4,566	916
2021-04-15	$18.24	$10.00	28.9%	8.3%	26.1%	14.4%	28.7%	1.0%	-0.9%	83.5K	-3.8M	-10.0K	0.00	32.18	101	0	4,546	917
2021-04-16	$18.51	$10.00	31.0%	8.9%	26.1%	16.8%	29.4%	3.3%	-1.9%	103.2K	-4.2M	-10.2K	0.07	32.93	27	2	4,624	917
2021-04-19	$18.41	$10.00	30.3%	8.7%	26.2%	15.9%	0.0%	1.1%	-2.4%	102.6K	-4.8M	-10.2K	0.00	98.36	0	16	4,720	703
2021-04-20	$18.32	$10.00	29.1%	8.3%	26.2%	14.6%	29.2%	1.1%	-0.8%	98.0K	-4.6M	-9.7K	0.73	31.63	413	302	4,720	718
2021-04-21	$18.69	$10.00	30.8%	8.8%	23.4%	16.6%	29.8%	3.4%	-3.2%	102.2K	-5.0M	-11.8K	0.00	47.27	59	0	5,128	1,020
2021-04-22	$18.55	$10.00	29.8%	8.5%	23.7%	15.4%	0.0%	1.5%	-0.5%	94.1K	-4.8M	-11.4K	0.00	78.41	97	0	5,083	1,020
2021-04-23	$18.65	$10.00	30.4%	8.7%	22.3%	16.1%	30.5%	2.0%	-2.0%	98.7K	-4.9M	-11.4K	0.00	81.57	230	1	5,108	1,020
2021-04-26	$18.41	$10.00	31.6%	9.1%	22.5%	17.5%	30.0%	2.5%	-3.2%	93.7K	-4.7M	-11.2K	0.00	73.61	149	0	5,323	1,021
2021-04-27	$18.02	$10.00	23.5%	6.7%	23.1%	8.3%	23.0%	4.0%	0.7%	70.1K	-4.2M	-9.9K	0.54	79.24	85	46	5,434	1,021
2021-04-28	$18.46	$10.00	24.3%	7.0%	24.4%	9.2%	24.1%	5.1%	0.7%	97.6K	-4.7M	-10.3K	0.09	40.82	69	6	5,414	1,045
2021-04-29	$18.51	$10.00	20.6%	5.9%	23.6%	5.1%	20.6%	7.0%	7.8%	101.4K	-4.7M	-10.5K	1.00	29.23	9	9	5,396	1,045
2021-04-30	$18.54	$10.00	24.3%	7.0%	23.6%	9.2%	22.8%	4.6%	-1.0%	103.7K	-4.8M	-10.7K	0.50	63.72	20	10	5,399	1,042