GPK Options History — May 2021

In May 2021, GPK traded between $17.70 and $19.47. ATM implied volatility averaged 24.0%, placing in the 9.2% IV rank vs the trailing year. The 30-day expected move averaged 7.0%. IV traded above realized volatility by 0.7% (HV 20d: 23.2%). Max pain ranged from $10.00 to $17.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 0.24.

Notable Days

2021-05-20: Highest Volume — 1,840 contracts
2021-05-12: Largest IV spike — 65.4% change
2021-05-20: Highest IV Rank — 12.7%
2021-05-20: Largest Expected Move — 7.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$18.66	$17.70	$19.47	$18.78	$17.70
Max Pain	$15.75	$10.00	$17.50	$10.00	$17.50
ATM IV	24.0%	15.5%	26.9%	21.5%	24.9%
Expected Move	7.0%	5.5%	7.7%	6.2%	7.1%
HV 20d	23.2%	18.6%	26.8%	23.0%	24.2%
HV 60d	23.6%	22.2%	25.0%	22.8%	24.3%
IV Rank	9.2%	0.0%	12.7%	6.1%	10.5%
IV Percentile	16.6%	0.0%	29.4%	4.4%	19.8%
Term Structure	0.3%	-2.6%	3.7%	-2.6%	-0.2%
VWIV	24.2%	19.8%	26.6%	21.5%	21.1%
Skew 25d	3.5%	-8.2%	69.5%	-8.2%	2.1%
Skew 10d	6.3%	-18.1%	133.0%	-9.3%	3.1%
Call IV 25d	24.0%	19.2%	29.7%	24.1%	22.7%
Put IV 25d	27.4%	15.9%	89.0%	15.9%	24.9%
Bid-Ask Spread %	56.03	9.56	82.97	59.50	70.32
Gamma HHI	0.40	0.31	0.49	0.43	0.39
Net GEX	145.2K	42.5K	225.5K	121.8K	118.4K
Net DEX	-5.1M	-6.6M	-3.8M	-5.1M	-3.8M
Net VEX	-10.6K	-11.6K	-8.7K	-10.7K	-10.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.24	0.00	1.89	0.25	0.33
Total Volume	256.5	4	1,840	153	4
Total OI	7,030.55	6,441	9,253	6,441	7,309

Daily Data (20 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
2021-05-03	$18.78	$10.00	21.5%	6.2%	23.0%	6.1%	21.5%	-8.2%	-2.6%	121.8K	-5.1M	-10.7K	0.25	59.50	122	31	5,399	1,042
2021-05-04	$18.90	$10.00	24.7%	7.1%	23.0%	9.6%	23.0%	-6.2%	-2.4%	134.5K	-5.2M	-10.7K	0.08	82.66	128	10	5,436	1,019
2021-05-05	$19.19	$10.00	19.1%	5.5%	23.1%	3.5%	23.0%	-4.5%	-0.8%	161.3K	-5.6M	-10.9K	0.03	78.35	71	2	5,477	1,018
2021-05-06	$19.35	$15.00	22.4%	6.7%	19.0%	7.1%	23.3%	1.8%	1.4%	176.4K	-5.9M	-10.8K	0.00	58.21	16	0	5,528	1,016
2021-05-07	$19.37	$15.00	20.2%	6.3%	18.9%	4.6%	19.8%	3.0%	3.7%	186.5K	-5.9M	-10.7K	0.15	57.32	337	50	5,521	1,016
2021-05-10	$19.45	$15.00	23.8%	6.4%	18.6%	8.7%	22.8%	4.1%	2.5%	190.9K	-6.0M	-11.6K	0.00	41.90	140	0	5,593	1,015
2021-05-11	$19.19	$15.00	15.5%	6.4%	19.0%	0.0%	24.4%	-4.2%	-1.0%	169.2K	-5.5M	-10.9K	0.44	63.35	16	7	5,591	1,015
2021-05-12	$18.79	$15.00	25.6%	7.3%	20.6%	11.3%	25.9%	2.4%	-1.1%	126.1K	-5.0M	-10.0K	0.46	82.97	102	47	5,594	1,016
2021-05-13	$19.47	$17.50	24.3%	7.0%	23.5%	9.9%	24.3%	4.0%	1.5%	190.1K	-5.9M	-11.4K	0.01	77.61	145	1	5,590	1,062
2021-05-14	$19.20	$17.50	25.9%	7.4%	23.9%	11.6%	26.0%	-2.4%	1.0%	159.3K	-5.6M	-11.1K	0.06	77.14	753	47	5,590	1,063
2021-05-17	$19.20	$17.50	26.2%	7.5%	23.7%	11.9%	26.2%	0.3%	0.7%	225.5K	-5.5M	-11.1K	0.02	80.64	57	1	6,313	1,163
2021-05-18	$18.89	$17.50	26.6%	7.6%	24.5%	12.4%	26.6%	-1.9%	0.5%	152.2K	-5.0M	-10.3K	0.01	33.64	119	1	6,266	1,164
2021-05-19	$18.51	$17.50	26.8%	7.7%	24.7%	12.6%	25.5%	1.5%	1.7%	113.1K	-4.6M	-9.6K	0.06	68.14	35	2	6,382	1,165
2021-05-20	$17.95	$17.50	26.9%	7.7%	26.8%	12.7%	26.4%	6.5%	-1.1%	42.5K	-3.9M	-8.7K	0.03	73.00	1,791	49	6,405	1,165
2021-05-21	$17.93	$17.50	26.1%	7.5%	26.7%	11.8%	26.1%	-3.5%	-0.1%	122.2K	-6.6M	-10.4K	0.01	11.16	283	4	8,105	1,148
2021-05-24	$18.04	$17.50	25.4%	7.3%	26.5%	11.0%	24.9%	-4.4%	0.5%	131.3K	-4.1M	-10.2K	0.06	53.07	484	28	6,009	667
2021-05-25	$17.77	$17.50	24.4%	7.0%	26.0%	9.9%	24.4%	69.5%	1.3%	132.7K	-4.0M	-10.8K	1.89	9.56	53	100	6,489	674
2021-05-26	$17.81	$17.50	24.6%	7.0%	24.3%	10.1%	24.6%	5.3%	0.7%	126.7K	-4.0M	-11.0K	0.87	26.59	45	39	6,506	774
2021-05-27	$17.71	$17.50	24.3%	7.0%	24.3%	9.8%	24.3%	4.0%	0.6%	122.9K	-3.9M	-10.8K	0.00	15.41	10	0	6,503	803
2021-05-28	$17.70	$17.50	24.9%	7.1%	24.2%	10.5%	21.1%	2.1%	-0.2%	118.4K	-3.8M	-10.4K	0.33	70.32	3	1	6,506	803