GPK Options History — January 2022

In January 2022, GPK traded between $18.24 and $20.20. ATM implied volatility averaged 31.7%, placing in the 37.7% IV rank vs the trailing year. The 30-day expected move averaged 9.4%. IV traded above realized volatility by 1.2% (HV 20d: 30.5%). Max pain ranged from $17.50 to $20.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 6 of 20 days. Put/call ratio averaged 8.00.

Notable Days

2022-01-19: Highest Volume — 1,520 contracts
2022-01-21: Largest IV spike — 35.4% change
2022-01-28: Highest IV Rank — 66.4%
2022-01-21: Largest Expected Move — 12.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$19.20	$18.24	$20.20	$19.58	$18.81
Max Pain	$19.75	$17.50	$20.00	$20.00	$20.00
ATM IV	31.7%	23.1%	43.0%	23.9%	38.0%
Expected Move	9.4%	6.9%	12.3%	6.9%	10.9%
HV 20d	30.5%	27.0%	34.0%	30.4%	29.5%
HV 60d	27.4%	26.2%	28.2%	27.0%	28.2%
IV Rank	37.7%	17.3%	66.4%	19.2%	55.9%
IV Percentile	70.6%	21.0%	97.6%	30.6%	95.6%
Term Structure	-1.7%	-7.9%	3.6%	3.3%	-5.0%
VWIV	34.4%	24.9%	45.6%	27.9%	36.3%
Skew 25d	6.6%	-12.0%	53.6%	-12.0%	7.3%
Skew 10d	13.9%	-26.7%	99.5%	-26.7%	5.7%
Call IV 25d	31.9%	23.9%	41.2%	34.6%	35.4%
Put IV 25d	38.5%	22.6%	77.4%	22.6%	42.7%
Bid-Ask Spread %	82.87	33.10	103.82	80.79	33.10
Gamma HHI	0.33	0.28	0.36	0.31	0.36
Net GEX	108.0K	58.7K	155.1K	113.7K	86.6K
Net DEX	201.9K	-1.0M	1.2M	-147.2K	855.1K
Net VEX	-19.0K	-24.2K	-14.1K	-21.5K	-15.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	8.00	1.43	15.79	4.29	4.69
Total Volume	1,051.3	866	1,520	1,094	939
Total OI	7,916.05	7,672	8,341	7,711	7,797

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
2022-01-03	$19.58	$20.00	23.9%	6.9%	30.4%	19.2%	27.9%	-12.0%	3.3%	113.7K	-147.2K	-21.5K	4.29	80.79	207	887	5,383	2,328
2022-01-04	$20.20	$20.00	24.9%	7.1%	31.9%	21.3%	24.9%	53.6%	3.6%	155.1K	-1.0M	-24.2K	4.27	93.58	208	888	5,475	2,335
2022-01-05	$19.86	$20.00	25.3%	7.3%	32.4%	22.3%	25.5%	-4.0%	3.6%	142.0K	-831.7K	-24.0K	5.66	99.26	155	877	5,575	2,336
2022-01-06	$19.72	$17.50	24.9%	8.5%	32.5%	21.3%	31.3%	-8.2%	0.1%	131.0K	-472.1K	-22.3K	5.26	100.90	168	884	5,579	2,339
2022-01-07	$19.78	$17.50	24.4%	8.3%	32.3%	20.2%	42.2%	4.4%	0.0%	140.2K	-622.5K	-22.9K	15.21	94.74	58	882	5,600	2,344
2022-01-10	$19.43	$20.00	23.1%	8.7%	32.8%	17.3%	32.6%	1.9%	-1.6%	117.0K	78.2K	-19.7K	14.68	93.17	60	881	5,609	2,347
2022-01-11	$19.38	$20.00	23.9%	8.3%	32.8%	19.1%	38.3%	8.2%	-0.6%	112.9K	180.2K	-19.7K	14.90	94.00	60	894	5,605	2,351
2022-01-12	$19.51	$20.00	29.2%	8.4%	32.5%	31.0%	29.0%	10.2%	-1.4%	126.1K	13.0K	-19.7K	15.79	97.35	57	900	5,615	2,351
2022-01-13	$19.75	$20.00	28.8%	8.3%	32.6%	30.2%	34.8%	3.9%	-0.5%	140.6K	-312.4K	-20.8K	11.92	42.78	75	894	5,614	2,351
2022-01-14	$19.45	$20.00	28.7%	8.2%	32.6%	30.1%	34.5%	9.4%	0.6%	120.8K	109.7K	-19.3K	13.06	44.30	68	888	5,633	2,359
2022-01-18	$18.84	$20.00	32.1%	9.2%	34.0%	37.8%	34.5%	2.9%	-1.9%	71.2K	812.7K	-16.8K	13.44	99.31	66	887	5,628	2,359
2022-01-19	$19.51	$20.00	31.5%	9.0%	27.0%	36.3%	31.5%	10.7%	-2.3%	124.6K	49.5K	-19.2K	1.43	47.07	626	894	5,628	2,362
2022-01-20	$19.13	$20.00	31.8%	9.1%	27.8%	37.0%	31.6%	0.8%	-3.5%	107.3K	449.0K	-17.8K	2.30	83.54	388	893	5,959	2,382
2022-01-21	$18.72	$20.00	43.0%	12.3%	28.4%	62.5%	28.0%	13.3%	-7.9%	86.2K	879.2K	-16.0K	3.43	95.72	265	908	5,958	2,381
2022-01-24	$18.96	$20.00	35.2%	10.1%	28.7%	44.8%	39.1%	7.5%	-1.6%	106.7K	340.0K	-18.3K	2.51	96.68	353	886	5,673	1,999
2022-01-25	$18.54	$20.00	42.2%	12.1%	29.0%	60.6%	37.3%	4.1%	-5.0%	86.8K	486.4K	-17.7K	5.99	98.61	156	935	5,720	2,000
2022-01-26	$18.33	$20.00	39.6%	11.4%	27.7%	54.8%	45.6%	11.7%	-2.1%	68.2K	835.9K	-16.4K	5.96	103.82	156	930	5,723	2,050
2022-01-27	$18.24	$20.00	41.9%	12.0%	27.8%	65.7%	41.6%	5.3%	-6.1%	58.7K	1.2M	-14.1K	6.92	102.14	112	775	5,723	2,055
2022-01-28	$18.36	$20.00	42.2%	12.1%	27.9%	66.4%	40.5%	0.8%	-6.0%	65.2K	1.1M	-14.6K	8.31	56.62	93	773	5,739	2,056
2022-01-31	$18.81	$20.00	38.0%	10.9%	29.5%	55.9%	36.3%	7.3%	-5.0%	86.6K	855.1K	-15.1K	4.69	33.10	165	774	5,741	2,056