GPK Options History — May 2023

In May 2023, GPK traded between $23.98 and $25.95. ATM implied volatility averaged 25.5%, placing in the 10.2% IV rank vs the trailing year. The 30-day expected move averaged 7.3%. IV traded above realized volatility by 6.9% (HV 20d: 18.6%). Max pain ranged from $22.50 to $25.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 0.42.

Notable Days

  • 2023-05-19: Highest Volume — 1,179 contracts
  • 2023-05-02: Largest IV drop — 11.1% change
  • 2023-05-01: Highest IV Rank — 17.7%
  • 2023-05-01: Largest Expected Move — 8.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.37$23.98$25.95$24.69$23.98
Max Pain$23.64$22.50$25.00$25.00$25.00
ATM IV25.5%23.8%30.2%30.2%23.8%
Expected Move7.3%6.8%8.7%8.7%6.8%
HV 20d18.6%16.4%19.9%17.6%16.4%
HV 60d22.0%20.7%27.3%26.9%21.1%
IV Rank10.2%7.4%17.7%17.7%7.4%
IV Percentile13.9%2.4%51.6%51.6%2.4%
Term Structure0.2%-3.2%4.9%-3.1%2.1%
VWIV25.6%23.3%30.3%30.3%25.0%
Skew 25d4.5%-5.2%9.5%5.0%7.9%
Skew 10d7.0%-8.1%16.8%7.6%5.6%
Call IV 25d22.1%18.6%29.6%29.6%22.3%
Put IV 25d26.6%20.6%34.5%34.5%30.3%
Bid-Ask Spread %55.1918.1581.7564.3579.08
Gamma HHI0.660.550.750.580.55
Net GEX284.2K182.4K362.5K182.4K268.0K
Net DEX-5.6M-6.5M-2.6M-3.8M-2.6M
Net VEX-20.7K-24.8K-17.4K-20.8K-20.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.420.002.330.031.16
Total Volume270.273201,179614220
Total OI7,681.56,9558,6316,9558,631

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-05-01$24.69$25.0030.2%8.7%17.6%17.7%30.3%5.0%-3.1%182.4K-3.8M-20.8K0.0364.35596184,3822,573
2023-05-02$25.30$25.0026.9%7.7%19.9%12.3%26.9%-2.0%-0.1%217.0K-5.3M-23.4K0.3373.94205674,7872,568
2023-05-03$25.16$25.0024.7%7.1%18.2%8.9%24.7%-5.2%0.3%254.4K-5.2M-22.3K0.1181.75274314,8502,611
2023-05-04$25.18$25.0026.0%7.2%18.0%11.0%23.3%8.4%2.0%241.6K-5.0M-21.7K0.2537.3456144,7162,621
2023-05-05$25.73$25.0025.2%7.3%19.5%9.6%28.0%9.5%1.7%252.4K-6.1M-20.0K0.1272.94322404,7342,624
2023-05-08$25.93$22.5025.9%7.5%19.6%10.7%25.8%7.6%1.9%252.6K-6.4M-19.4K0.0947.61414364,7052,635
2023-05-09$25.77$22.5026.8%7.6%19.4%12.3%26.6%8.7%0.9%253.8K-6.4M-20.8K0.1462.31611834,8782,645
2023-05-10$25.91$22.5025.8%7.4%18.4%10.6%26.0%8.3%0.7%257.0K-6.5M-19.1K0.1271.2295114,7942,602
2023-05-11$25.61$22.5025.8%7.4%19.0%10.6%25.1%8.1%0.2%268.3K-5.9M-19.3K0.1343.614564,7762,608
2023-05-12$25.95$22.5023.9%6.9%19.3%7.7%23.3%6.5%-0.2%270.0K-6.5M-18.3K0.2550.0385214,7682,609
2023-05-15$25.79$22.5025.9%7.4%19.6%10.9%26.4%7.5%1.2%260.0K-6.1M-17.4K0.6035.4643264,8282,590
2023-05-16$25.57$22.5024.8%7.1%19.8%9.1%25.8%6.7%2.1%294.1K-6.0M-18.3K0.5837.7438224,8262,580
2023-05-17$25.76$22.5024.9%7.1%19.9%9.3%24.8%2.8%1.1%293.0K-6.4M-18.0K0.0552.33211114,8362,597
2023-05-18$25.63$22.5025.0%7.2%19.0%9.3%25.0%6.4%4.9%296.8K-6.2M-17.9K0.4645.11155714,8412,596
2023-05-19$25.74$22.5025.5%7.3%18.9%10.1%25.4%3.8%-1.6%280.7K-6.2M-17.7K0.0044.101,17544,7772,646
2023-05-22$25.68$22.5023.9%6.8%18.9%7.6%23.9%2.7%0.1%349.8K-6.5M-23.3K2.3361.336145,5662,420
2023-05-23$25.49$22.5026.0%7.5%18.6%11.0%26.1%1.7%-2.4%332.3K-6.1M-23.4K0.1768.30321545,5672,431
2023-05-24$25.07$25.0025.9%7.4%18.2%10.8%25.8%7.0%-3.2%358.5K-5.3M-22.3K0.4973.4843215,8642,482
2023-05-25$24.98$25.0024.5%7.0%17.7%8.6%24.2%6.2%-0.3%362.5K-5.5M-24.8K1.3938.221141585,8742,502
2023-05-26$24.73$25.0024.3%7.0%17.1%8.3%24.6%-3.2%-1.3%359.4K-4.5M-23.5K0.3255.7331105,8942,628
2023-05-30$24.52$25.0025.6%7.3%17.3%10.3%25.7%-4.9%-2.9%348.5K-4.1M-23.0K0.0618.15158105,8982,633
2023-05-31$23.98$25.0023.8%6.8%16.4%7.4%25.0%7.9%2.1%268.0K-2.6M-20.7K1.1679.081021185,9952,636