GPK Options History — March 2022

In March 2022, GPK traded between $18.49 and $20.39. ATM implied volatility averaged 33.9%, placing in the 40.1% IV rank vs the trailing year. The 30-day expected move averaged 10.5%. IV traded below realized volatility by 2.3% (HV 20d: 36.2%). Max pain ranged from $17.50 to $22.50. Net GEX was positive for 14 of 23 trading days. Term structure was in contango for 11 of 23 days. Put/call ratio averaged 0.90.

Notable Days

  • 2022-03-11: Highest Volume — 594 contracts
  • 2022-03-07: Largest IV spike — 75.5% change
  • 2022-03-07: Highest IV Rank — 100.0%
  • 2022-03-07: Largest Expected Move — 18.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$19.77$18.49$20.39$20.10$20.16
Max Pain$19.75$17.50$22.50$17.50$20.00
ATM IV33.9%26.5%63.3%36.2%26.5%
Expected Move10.5%8.4%18.1%10.4%8.5%
HV 20d36.2%29.6%41.2%29.7%32.9%
HV 60d31.3%29.5%33.7%29.6%29.9%
IV Rank40.1%23.1%100.0%52.7%23.1%
IV Percentile78.6%52.4%100.0%93.7%52.4%
Term Structure-1.8%-24.2%23.2%-4.9%2.7%
VWIV36.1%28.7%81.1%32.3%29.7%
Skew 25d2.3%-19.7%22.1%13.9%11.4%
Skew 10d14.5%-28.5%138.1%22.2%24.3%
Call IV 25d36.3%23.1%49.3%28.8%31.3%
Put IV 25d38.6%26.7%54.5%42.7%42.8%
Bid-Ask Spread %99.1569.69122.8669.69100.47
Gamma HHI0.410.310.710.350.40
Net GEX63.5K-8.3K242.2K135.4K-4.9K
Net DEX285.3K-1.1M900.3K-378.0K450.4K
Net VEX-13.8K-18.0K-12.1K-16.3K-12.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.900.401.750.530.66
Total Volume317.435149594423149
Total OI6,378.6524,1957,8387,8014,260

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2022-03-01$20.10$17.5036.2%10.4%29.7%52.7%32.3%13.9%-4.9%135.4K-378.0K-16.3K0.5369.692761475,7742,027
2022-03-02$20.38$17.5032.2%9.2%29.8%42.6%34.2%5.3%-2.1%166.7K-1.1M-18.0K0.5393.712771475,8002,027
2022-03-03$20.23$17.5033.5%9.6%29.8%45.8%32.8%1.7%-9.9%151.7K-752.9K-17.3K0.5898.602621525,8012,027
2022-03-04$20.26$17.5036.0%10.3%29.6%52.4%36.7%22.1%-24.2%143.3K-514.7K-16.3K0.7295.512101525,7922,037
2022-03-07$19.00$17.5063.3%18.1%38.1%100.0%81.1%-6.3%-3.2%96.3K225.4K-15.4K0.69115.082281585,7922,037
2022-03-08$18.49$17.5040.5%14.2%39.3%52.3%51.8%-3.9%-13.6%29.8K900.3K-13.7K0.55102.922881585,8062,025
2022-03-09$19.17$17.5037.0%17.0%41.2%45.0%45.0%1.2%0.6%56.2K677.2K-13.6K0.53105.392981585,8072,022
2022-03-10$19.10$17.5032.8%9.2%41.2%36.3%28.7%6.7%-0.4%53.2K719.3K-13.5K0.53107.582981585,8172,021
2022-03-11$18.95$17.5053.0%15.6%40.8%78.5%44.3%2.1%-17.8%59.2K787.3K-13.0K0.40105.754251695,8112,021
2022-03-14$19.15$22.5036.2%9.4%40.9%43.3%31.3%-1.1%-3.0%35.9K714.8K-12.9K0.6789.102451645,6082,020
2022-03-15$19.34$22.5037.1%8.9%40.9%45.2%29.9%-3.5%-5.1%64.5K511.6K-13.3K0.5984.232561515,6182,019
2022-03-16$19.81$22.5031.1%8.7%41.2%32.6%30.8%-16.2%-1.0%129.0K274.4K-13.8K0.8593.371771515,6202,017
2022-03-17$19.97$0.0030.0%14.9%40.4%30.3%0.0%19.4%23.2%133.2K111.1K-13.7K0.58122.862641525,5902,017
2022-03-18$20.11$0.0029.7%9.2%36.9%29.7%0.0%-0.1%2.7%242.2K-461.4K-12.9K0.47111.16207975,6042,017
2022-03-21$19.79$0.0027.8%8.8%37.3%25.7%34.1%6.4%0.9%-847632.8K-12.8K1.4496.4868982,3341,861
2022-03-22$19.98$22.5031.1%8.5%37.4%32.7%30.4%13.1%-2.6%-296459.8K-13.5K1.44101.5768982,3571,869
2022-03-23$19.86$22.5029.9%8.9%36.3%30.3%30.7%14.4%1.0%-4.6K658.8K-12.7K1.3496.8873982,3621,869
2022-03-24$19.72$22.5028.0%8.5%35.9%26.1%33.6%1.2%1.7%-6.2K813.7K-12.4K1.29105.9973942,3631,869
2022-03-25$20.11$22.5027.9%8.8%33.9%25.9%30.8%5.3%3.4%-224451.5K-12.9K1.4298.7467952,3641,875
2022-03-28$20.26$20.0027.2%8.6%33.8%24.6%30.0%-10.3%3.7%-5.2K444.3K-12.5K1.3995.4769962,3691,876
2022-03-29$20.27$20.0026.7%8.4%33.1%23.4%29.4%-9.9%2.9%-5.8K476.5K-12.1K1.7093.70611042,3711,879
2022-03-30$20.39$20.0027.2%8.4%32.8%24.4%29.3%-19.7%2.7%-8.3K420.6K-12.1K1.7596.11601052,3701,887
2022-03-31$20.16$20.0026.5%8.5%32.9%23.1%29.7%11.4%2.7%-4.9K450.4K-12.1K0.66100.4790592,3721,888