GPK Options History — January 2023

In January 2023, GPK traded between $21.68 and $23.99. ATM implied volatility averaged 30.3%, placing in the 17.5% IV rank vs the trailing year. The 30-day expected move averaged 9.0%. IV traded above realized volatility by 6.3% (HV 20d: 24.0%). Max pain ranged from $20.00 to $22.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 3 of 20 days. Put/call ratio averaged 0.28.

Notable Days

2023-01-24: Highest Volume — 1,535 contracts
2023-01-11: Largest IV spike — 18.4% change
2023-01-30: Highest IV Rank — 28.4%
2023-01-30: Largest Expected Move — 10.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$22.66	$21.68	$23.99	$21.68	$23.99
Max Pain	$22.25	$20.00	$22.50	$22.50	$22.50
ATM IV	30.3%	24.6%	37.2%	25.6%	32.8%
Expected Move	9.0%	7.4%	10.7%	7.4%	9.4%
HV 20d	24.0%	21.2%	26.1%	21.4%	25.7%
HV 60d	24.9%	21.8%	27.8%	27.8%	22.8%
IV Rank	17.5%	8.4%	28.4%	10.0%	21.4%
IV Percentile	41.4%	3.6%	86.5%	9.9%	60.3%
Term Structure	-2.8%	-8.2%	5.5%	5.5%	-5.8%
VWIV	31.8%	25.6%	36.5%	25.7%	34.4%
Skew 25d	6.5%	-2.1%	19.9%	6.7%	0.1%
Skew 10d	5.7%	-15.9%	29.0%	11.5%	-15.0%
Call IV 25d	29.9%	20.5%	38.3%	25.1%	38.3%
Put IV 25d	36.4%	31.8%	44.2%	31.8%	38.4%
Bid-Ask Spread %	75.97	39.02	94.22	60.50	39.02
Gamma HHI	0.52	0.40	0.84	0.40	0.43
Net GEX	253.2K	87.9K	818.6K	87.9K	354.5K
Net DEX	-2.1M	-7.1M	1.6M	1.2M	-7.1M
Net VEX	-21.4K	-23.4K	-17.7K	-21.0K	-23.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.28	0.01	0.92	0.53	0.08
Total Volume	389.1	3	1,535	26	356
Total OI	7,554.65	5,890	9,032	7,173	8,425

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
2023-01-03	$21.68	$22.50	25.6%	7.4%	21.4%	10.0%	25.7%	6.7%	5.5%	87.9K	1.2M	-21.0K	0.53	60.50	17	9	4,091	3,082
2023-01-04	$21.91	$22.50	26.1%	7.5%	21.2%	10.7%	27.2%	18.7%	3.1%	108.5K	516.2K	-22.2K	0.16	94.22	19	3	4,099	3,085
2023-01-05	$22.09	$20.00	25.0%	8.1%	21.2%	8.9%	28.0%	5.1%	0.4%	119.2K	51.6K	-22.3K	0.80	62.57	15	12	4,105	3,084
2023-01-06	$22.86	$20.00	24.6%	9.1%	24.5%	8.4%	31.2%	6.9%	-2.7%	131.1K	-2.4M	-22.5K	0.39	78.38	41	16	4,108	3,089
2023-01-09	$22.49	$22.50	25.5%	8.7%	24.9%	9.8%	31.7%	19.9%	-2.4%	144.1K	-1.3M	-21.7K	0.80	78.86	20	16	4,135	3,101
2023-01-10	$22.23	$22.50	25.3%	8.7%	25.2%	9.5%	0.0%	4.4%	-2.6%	144.1K	-219.5K	-21.2K	0.92	81.21	24	22	4,152	3,105
2023-01-11	$22.05	$22.50	30.0%	8.6%	25.3%	16.9%	0.0%	5.7%	-1.5%	137.4K	438.4K	-20.4K	0.41	72.09	202	82	4,174	3,125
2023-01-12	$22.48	$22.50	30.1%	8.6%	26.1%	17.1%	35.2%	5.2%	-1.1%	179.8K	-1.1M	-21.2K	0.62	56.05	258	160	4,261	3,207
2023-01-13	$22.46	$22.50	29.1%	8.3%	25.9%	15.6%	0.0%	9.6%	-2.0%	305.9K	-1.3M	-21.4K	0.50	80.88	2	1	4,513	3,351
2023-01-17	$22.21	$22.50	27.6%	7.9%	24.9%	13.2%	25.6%	8.5%	-0.3%	177.6K	-1.1M	-19.2K	0.03	92.31	138	4	4,514	3,352
2023-01-18	$22.32	$22.50	30.6%	8.8%	23.6%	17.9%	31.2%	2.8%	-2.0%	387.2K	-62.4K	-18.8K	0.01	77.98	154	1	4,567	3,348
2023-01-19	$22.16	$22.50	32.0%	9.2%	23.8%	20.1%	32.0%	11.7%	-4.2%	322.8K	1.6M	-17.7K	0.01	84.58	1,139	15	4,595	3,348
2023-01-20	$22.51	$22.50	32.5%	9.3%	24.2%	20.9%	32.3%	4.7%	-2.5%	818.6K	-2.9M	-20.1K	0.02	91.32	1,130	20	5,684	3,348
2023-01-23	$22.63	$22.50	34.0%	9.7%	23.1%	23.3%	34.0%	7.2%	-5.0%	161.5K	-2.4M	-19.9K	0.01	85.91	923	7	3,816	2,074
2023-01-24	$22.89	$22.50	34.0%	9.7%	23.4%	23.3%	34.3%	2.4%	-4.6%	238.5K	-3.7M	-21.4K	0.06	63.31	1,443	92	4,543	2,079
2023-01-25	$23.45	$22.50	35.9%	10.3%	24.4%	26.4%	32.9%	5.9%	-7.1%	292.3K	-5.3M	-22.9K	0.18	78.87	292	53	5,314	2,161
2023-01-26	$23.77	$22.50	31.9%	9.2%	24.5%	20.1%	33.9%	-2.1%	-5.6%	294.3K	-6.1M	-23.0K	0.01	82.54	464	3	5,589	2,208
2023-01-27	$23.74	$22.50	37.1%	10.6%	23.1%	28.2%	36.5%	1.4%	-8.2%	323.8K	-6.3M	-23.4K	0.13	84.20	177	23	5,895	2,211
2023-01-30	$23.29	$22.50	37.2%	10.7%	24.1%	28.4%	34.7%	5.5%	-6.9%	334.6K	-5.4M	-23.3K	0.03	74.65	418	11	5,934	2,221
2023-01-31	$23.99	$22.50	32.8%	9.4%	25.7%	21.4%	34.4%	0.1%	-5.8%	354.5K	-7.1M	-23.4K	0.08	39.02	329	27	6,194	2,231