GPK Options History — April 2023

In April 2023, GPK traded between $23.91 and $25.48. ATM implied volatility averaged 28.1%, placing in the 14.3% IV rank vs the trailing year. The 30-day expected move averaged 8.3%. IV traded above realized volatility by 9.0% (HV 20d: 19.0%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 4 of 19 days. Put/call ratio averaged 0.46.

Notable Days

2023-04-21: Highest Volume — 695 contracts
2023-04-12: Largest IV spike — 20.1% change
2023-04-25: Highest IV Rank — 19.4%
2023-04-25: Largest Expected Move — 9.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$24.81	$23.91	$25.48	$25.48	$24.69
Max Pain	$25.00	$25.00	$25.00	$25.00	$25.00
ATM IV	28.1%	23.7%	31.3%	25.2%	30.6%
Expected Move	8.3%	6.8%	9.0%	7.2%	8.8%
HV 20d	19.0%	15.2%	26.0%	26.0%	18.3%
HV 60d	27.6%	26.8%	28.5%	28.5%	26.9%
IV Rank	14.3%	7.3%	19.4%	9.7%	18.3%
IV Percentile	32.1%	2.0%	58.3%	7.9%	54.8%
Term Structure	-1.8%	-12.0%	5.4%	3.7%	-3.3%
VWIV	30.2%	23.7%	37.7%	25.2%	30.4%
Skew 25d	4.4%	-6.1%	11.3%	-2.2%	7.3%
Skew 10d	6.1%	-9.8%	17.9%	-4.4%	13.5%
Call IV 25d	26.9%	21.3%	38.6%	26.6%	27.3%
Put IV 25d	31.3%	21.5%	35.7%	24.3%	34.6%
Bid-Ask Spread %	64.43	17.03	84.75	78.62	78.13
Gamma HHI	0.69	0.50	0.85	0.70	0.54
Net GEX	383.1K	114.1K	820.3K	340.2K	154.6K
Net DEX	-5.1M	-7.1M	-2.2M	-7.1M	-3.5M
Net VEX	-23.1K	-25.8K	-20.8K	-22.8K	-20.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.46	0.01	2.45	0.41	0.03
Total Volume	172.842	13	695	577	219
Total OI	7,701.211	6,640	8,447	7,574	6,763

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
2023-04-03	$25.48	$25.00	25.2%	7.2%	26.0%	9.7%	25.2%	-2.2%	3.7%	340.2K	-7.1M	-22.8K	0.41	78.62	410	167	5,125	2,449
2023-04-04	$24.91	$25.00	23.7%	6.8%	24.8%	7.3%	23.7%	-6.1%	4.8%	356.2K	-5.7M	-25.8K	0.23	84.75	140	32	5,235	2,525
2023-04-05	$25.12	$25.00	24.9%	7.1%	24.9%	9.2%	24.9%	-5.4%	5.4%	355.2K	-6.2M	-25.7K	0.75	80.92	75	56	5,278	2,539
2023-04-06	$25.05	$25.00	24.5%	8.9%	24.3%	8.6%	30.4%	0.3%	-2.8%	375.3K	-6.2M	-25.7K	0.41	56.59	110	45	5,301	2,595
2023-04-10	$25.02	$25.00	24.5%	7.3%	21.0%	8.6%	37.5%	9.1%	2.1%	409.3K	-5.9M	-24.8K	0.12	42.31	95	11	5,295	2,628
2023-04-11	$25.31	$25.00	24.5%	8.9%	20.3%	8.6%	0.0%	11.3%	-12.0%	424.6K	-6.9M	-23.2K	0.29	34.26	42	12	5,360	2,635
2023-04-12	$24.91	$25.00	29.5%	8.4%	20.6%	16.4%	29.5%	8.6%	-1.9%	477.8K	-5.7M	-23.8K	0.46	69.32	56	26	5,334	2,633
2023-04-13	$24.84	$25.00	29.5%	8.5%	18.1%	16.5%	29.7%	9.1%	-2.5%	481.4K	-5.6M	-24.0K	0.02	17.03	277	5	5,367	2,623
2023-04-14	$24.77	$25.00	30.8%	8.8%	17.9%	18.5%	33.3%	6.8%	-4.1%	538.7K	-5.5M	-24.2K	0.08	76.89	12	1	5,538	2,626
2023-04-17	$24.88	$25.00	29.6%	8.5%	16.8%	16.7%	29.7%	7.9%	-2.4%	671.9K	-5.8M	-23.2K	0.76	36.03	59	45	5,541	2,627
2023-04-18	$25.04	$25.00	30.9%	8.9%	15.9%	18.7%	31.2%	8.0%	-3.0%	680.5K	-6.4M	-23.0K	1.74	77.35	66	115	5,561	2,668
2023-04-19	$24.98	$25.00	29.2%	8.4%	15.6%	16.0%	37.7%	-5.9%	-2.6%	820.3K	-6.2M	-22.8K	0.01	82.65	110	1	5,595	2,755
2023-04-20	$24.59	$25.00	29.1%	8.3%	16.7%	15.9%	29.1%	4.5%	-2.3%	511.7K	-4.8M	-22.8K	0.38	71.55	50	19	5,679	2,755
2023-04-21	$24.51	$25.00	28.9%	8.3%	16.6%	15.6%	28.9%	6.7%	-2.4%	145.9K	-3.5M	-22.7K	0.01	75.41	691	4	5,677	2,770
2023-04-24	$24.66	$25.00	29.0%	8.3%	15.7%	15.7%	29.3%	6.3%	-2.2%	146.9K	-3.3M	-21.0K	0.13	73.56	88	11	4,089	2,551
2023-04-25	$24.39	$25.00	31.3%	9.0%	15.2%	19.4%	31.2%	4.3%	-3.6%	134.5K	-3.0M	-21.5K	2.45	49.11	20	49	4,149	2,555
2023-04-26	$23.91	$25.00	27.1%	7.8%	15.9%	12.7%	28.5%	7.2%	-2.2%	114.1K	-2.2M	-20.8K	0.19	72.78	98	19	4,163	2,561
2023-04-27	$24.26	$25.00	30.5%	8.8%	17.0%	18.1%	32.7%	6.0%	-3.1%	139.8K	-2.8M	-21.1K	0.26	66.93	38	10	4,206	2,572
2023-04-28	$24.69	$25.00	30.6%	8.8%	18.3%	18.3%	30.4%	7.3%	-3.3%	154.6K	-3.5M	-20.9K	0.03	78.13	212	7	4,190	2,573