GPK Options History — July 2023

In July 2023, GPK traded between $23.57 and $24.36. ATM implied volatility averaged 27.9%, placing in the 30.6% IV rank vs the trailing year. The 30-day expected move averaged 8.2%. IV traded above realized volatility by 2.8% (HV 20d: 25.1%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 3 of 20 days. Put/call ratio averaged 0.37.

Notable Days

2023-07-31: Highest Volume — 3,111 contracts
2023-07-05: Largest IV spike — 27.0% change
2023-07-31: Highest IV Rank — 54.6%
2023-07-31: Largest Expected Move — 9.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$24.03	$23.57	$24.36	$24.36	$24.30
Max Pain	$25.00	$25.00	$25.00	$25.00	$25.00
ATM IV	27.9%	20.2%	32.8%	22.5%	32.8%
Expected Move	8.2%	6.5%	9.4%	6.5%	9.4%
HV 20d	25.1%	19.6%	30.0%	29.6%	19.6%
HV 60d	23.6%	22.9%	23.8%	22.9%	23.2%
IV Rank	30.6%	1.7%	54.6%	5.5%	54.6%
IV Percentile	47.3%	1.2%	79.4%	3.2%	79.4%
Term Structure	-2.6%	-6.9%	4.4%	4.4%	-6.9%
VWIV	29.2%	22.1%	33.0%	22.1%	32.7%
Skew 25d	2.6%	-2.3%	5.7%	5.2%	4.5%
Skew 10d	4.7%	-10.3%	20.9%	5.9%	15.0%
Call IV 25d	29.3%	23.3%	36.2%	23.5%	32.1%
Put IV 25d	31.9%	27.1%	36.6%	28.7%	36.6%
Bid-Ask Spread %	71.78	42.54	86.94	78.17	68.50
Gamma HHI	0.63	0.59	0.75	0.62	0.61
Net GEX	200.4K	164.5K	234.5K	230.6K	203.9K
Net DEX	-1.8M	-3.1M	-678.6K	-3.1M	-2.6M
Net VEX	-21.0K	-25.9K	-18.5K	-25.9K	-20.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.37	0.00	1.87	0.02	1.87
Total Volume	363.75	21	3,111	58	3,111
Total OI	7,189.15	6,448	7,639	7,238	6,784

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
2023-07-03	$24.36	$25.00	22.5%	6.5%	29.6%	5.5%	22.1%	5.2%	4.4%	230.6K	-3.1M	-25.9K	0.02	78.17	57	1	5,358	1,880
2023-07-05	$23.68	$25.00	28.6%	8.2%	30.0%	15.1%	22.3%	3.8%	3.6%	182.3K	-1.2M	-22.4K	0.21	76.27	503	105	5,375	1,881
2023-07-06	$23.57	$25.00	28.1%	8.9%	28.9%	14.3%	30.6%	5.6%	-1.1%	167.7K	-678.6K	-20.9K	0.42	74.16	178	74	5,269	1,907
2023-07-07	$23.95	$25.00	22.6%	7.5%	28.8%	5.6%	26.7%	5.7%	-0.9%	201.2K	-1.5M	-22.3K	0.00	76.29	275	1	5,340	1,964
2023-07-10	$23.88	$25.00	20.2%	7.3%	28.7%	1.7%	31.1%	5.0%	0.5%	164.5K	-1.1M	-18.5K	0.05	81.08	279	15	5,248	1,975
2023-07-11	$24.23	$25.00	23.6%	7.7%	29.4%	7.1%	27.1%	5.5%	-1.3%	231.8K	-2.1M	-22.6K	0.01	63.70	132	1	5,405	1,984
2023-07-12	$24.06	$25.00	26.2%	7.5%	28.4%	11.2%	29.4%	4.5%	-0.7%	218.1K	-1.6M	-21.3K	0.17	70.57	180	31	5,388	1,984
2023-07-13	$24.05	$25.00	26.6%	7.6%	27.2%	29.8%	27.1%	-0.6%	-1.3%	234.5K	-1.7M	-21.9K	0.31	85.62	177	54	5,508	1,995
2023-07-14	$24.07	$25.00	28.4%	8.1%	27.0%	37.0%	29.6%	-2.3%	-2.4%	206.8K	-1.4M	-20.8K	0.38	78.75	68	26	5,491	2,040
2023-07-17	$23.94	$25.00	30.1%	8.6%	26.3%	44.1%	29.8%	-1.8%	-3.3%	198.1K	-1.1M	-20.5K	0.67	63.99	113	76	5,506	2,036
2023-07-18	$24.23	$25.00	29.8%	8.5%	26.7%	42.6%	30.0%	4.3%	-4.2%	218.3K	-1.6M	-20.4K	0.25	61.39	127	32	5,548	1,989
2023-07-19	$24.05	$25.00	28.0%	8.0%	22.7%	35.7%	28.3%	-2.1%	-3.3%	214.7K	-1.4M	-19.8K	0.00	66.14	664	1	5,572	1,961
2023-07-20	$23.80	$25.00	29.7%	8.5%	22.7%	42.3%	30.2%	3.4%	-4.1%	188.1K	-1.2M	-20.8K	0.62	62.02	13	8	5,737	1,897
2023-07-21	$23.91	$25.00	29.5%	8.5%	21.2%	41.6%	29.9%	4.1%	-2.8%	170.8K	-1.3M	-20.0K	0.37	42.54	83	31	5,741	1,898
2023-07-24	$23.81	$25.00	30.1%	8.6%	20.6%	43.9%	33.0%	2.1%	-6.8%	187.2K	-2.1M	-19.5K	0.39	85.66	111	43	4,921	1,527
2023-07-25	$24.36	$25.00	29.3%	8.4%	21.5%	40.5%	30.0%	5.6%	-5.3%	215.9K	-3.0M	-20.9K	1.55	53.76	131	203	5,012	1,561
2023-07-26	$23.96	$25.00	29.9%	8.6%	21.7%	43.1%	30.3%	0.1%	-4.2%	180.0K	-2.0M	-20.2K	0.00	86.94	57	0	5,016	1,682
2023-07-27	$24.02	$25.00	31.8%	9.1%	21.2%	50.9%	32.1%	0.8%	-6.1%	192.2K	-2.2M	-20.1K	0.08	81.69	214	18	4,985	1,682
2023-07-28	$24.36	$25.00	30.5%	8.8%	20.6%	45.6%	31.5%	-2.2%	-5.3%	201.1K	-2.6M	-21.4K	0.08	78.42	76	6	5,062	1,674
2023-07-31	$24.30	$25.00	32.8%	9.4%	19.6%	54.6%	32.7%	4.5%	-6.9%	203.9K	-2.6M	-20.2K	1.87	68.50	1,083	2,028	5,109	1,675