GPK Options History — February 2023

In February 2023, GPK traded between $22.05 and $23.88. ATM implied volatility averaged 30.5%, placing in the 17.8% IV rank vs the trailing year. The 30-day expected move averaged 8.3%. IV traded below realized volatility by 3.2% (HV 20d: 33.7%). Max pain ranged from $22.50 to $22.50. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 0.16.

Notable Days

2023-02-07: Highest Volume — 1,515 contracts
2023-02-28: Largest IV drop — 40.6% change
2023-02-27: Highest IV Rank — 31.7%
2023-02-27: Largest Expected Move — 11.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$23.47	$22.05	$23.88	$23.73	$23.88
Max Pain	$22.50	$22.50	$22.50	$22.50	$22.50
ATM IV	30.5%	23.3%	39.2%	38.8%	23.3%
Expected Move	8.3%	6.7%	11.2%	11.1%	6.7%
HV 20d	33.7%	21.9%	37.0%	24.5%	35.8%
HV 60d	26.4%	22.7%	28.4%	22.9%	27.1%
IV Rank	17.8%	6.3%	31.7%	31.0%	6.3%
IV Percentile	40.7%	0.8%	94.8%	92.9%	0.8%
Term Structure	-0.8%	-9.4%	3.6%	-8.5%	1.0%
VWIV	26.9%	22.6%	35.6%	35.6%	24.5%
Skew 25d	5.3%	0.6%	15.6%	0.6%	1.4%
Skew 10d	13.8%	-21.8%	39.5%	-21.8%	39.5%
Call IV 25d	25.4%	21.5%	37.6%	37.6%	23.7%
Put IV 25d	30.6%	25.2%	42.3%	38.2%	25.2%
Bid-Ask Spread %	61.85	20.83	88.81	82.59	88.81
Gamma HHI	0.57	0.42	0.77	0.42	0.71
Net GEX	380.7K	272.3K	538.3K	354.5K	419.2K
Net DEX	-5.8M	-7.7M	-1.2M	-6.4M	-5.3M
Net VEX	-23.6K	-26.5K	-21.1K	-23.9K	-21.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.16	0.00	0.81	0.22	0.41
Total Volume	390.211	12	1,515	151	79
Total OI	9,741.789	8,466	11,135	8,466	9,058

Daily Data (19 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
2023-02-01	$23.73	$22.50	38.8%	11.1%	24.5%	31.0%	35.6%	0.6%	-8.5%	354.5K	-6.4M	-23.9K	0.22	82.59	124	27	6,223	2,243
2023-02-02	$23.81	$22.50	37.0%	7.9%	24.4%	28.1%	28.2%	6.7%	-0.5%	362.3K	-6.6M	-23.9K	0.08	20.83	123	10	6,309	2,268
2023-02-03	$23.62	$22.50	37.9%	8.4%	24.7%	29.6%	27.2%	6.6%	1.7%	384.6K	-6.4M	-23.6K	0.02	60.21	127	2	6,388	2,277
2023-02-06	$23.70	$22.50	36.9%	9.3%	21.9%	27.9%	28.6%	5.9%	-3.2%	384.0K	-6.6M	-23.4K	0.07	65.68	902	66	6,470	2,276
2023-02-07	$22.05	$22.50	29.0%	7.1%	33.7%	15.4%	25.8%	2.5%	2.1%	380.8K	-1.2M	-21.9K	0.16	64.07	1,306	209	7,264	2,800
2023-02-08	$23.04	$22.50	27.6%	7.9%	37.0%	13.2%	26.9%	4.2%	0.1%	523.4K	-5.8M	-26.1K	0.65	51.82	217	141	8,108	2,885
2023-02-09	$23.34	$22.50	28.4%	8.2%	37.0%	14.5%	23.7%	6.7%	-0.9%	526.2K	-7.1M	-25.6K	0.19	61.84	513	96	8,177	2,833
2023-02-10	$23.55	$22.50	29.4%	8.4%	36.6%	16.0%	27.0%	5.4%	-0.9%	538.3K	-7.5M	-26.5K	0.00	65.24	1,335	2	8,267	2,868
2023-02-13	$23.48	$22.50	28.0%	8.0%	36.6%	13.7%	28.3%	4.3%	0.3%	330.7K	-6.8M	-24.2K	0.00	38.63	169	0	7,773	2,870
2023-02-14	$23.66	$22.50	28.5%	8.2%	36.3%	14.6%	28.6%	4.4%	-1.0%	320.7K	-7.3M	-22.8K	0.05	41.12	197	9	7,691	2,871
2023-02-15	$23.77	$22.50	29.4%	8.4%	36.3%	16.0%	25.8%	3.6%	1.8%	348.2K	-7.7M	-24.2K	0.11	38.83	18	2	8,075	2,873
2023-02-16	$23.74	$22.50	27.2%	7.8%	36.2%	12.6%	23.6%	3.6%	-9.4%	447.1K	-7.5M	-23.7K	0.00	39.29	44	0	8,089	2,873
2023-02-17	$23.49	$22.50	27.6%	7.9%	36.2%	13.2%	28.0%	3.0%	-0.0%	294.7K	-6.9M	-23.3K	0.01	67.60	1,066	8	8,091	2,873
2023-02-21	$23.09	$22.50	27.8%	8.0%	36.8%	13.5%	26.8%	5.9%	-1.8%	299.0K	-3.2M	-22.4K	0.26	73.49	169	44	6,375	2,418
2023-02-22	$22.93	$22.50	27.0%	7.7%	36.7%	12.1%	27.1%	15.6%	1.2%	272.3K	-3.0M	-22.4K	0.00	76.69	12	0	6,361	2,471
2023-02-23	$23.48	$22.50	28.5%	8.2%	36.6%	14.6%	27.0%	4.2%	-0.2%	348.1K	-4.3M	-22.5K	0.05	78.99	61	3	6,366	2,471
2023-02-24	$23.69	$22.50	28.4%	8.2%	36.5%	14.5%	26.6%	6.8%	-0.7%	356.8K	-5.0M	-23.3K	0.04	85.67	76	3	6,422	2,472
2023-02-27	$23.82	$22.50	39.2%	11.2%	36.5%	31.7%	22.6%	8.7%	3.6%	341.9K	-5.7M	-23.1K	0.81	73.83	140	114	6,470	2,475
2023-02-28	$23.88	$22.50	23.3%	6.7%	35.8%	6.3%	24.5%	1.4%	1.0%	419.2K	-5.3M	-21.1K	0.41	88.81	56	23	6,479	2,579