GPK Options History — September 2023

In September 2023, GPK traded between $21.80 and $23.44. ATM implied volatility averaged 21.9%, placing in the 25.6% IV rank vs the trailing year. The 30-day expected move averaged 6.5%. IV traded above realized volatility by 1.4% (HV 20d: 20.6%). Max pain ranged from $22.50 to $25.00. Net GEX was positive for 12 of 20 trading days. Term structure was in contango for 20 of 20 days. Put/call ratio averaged 1.05.

Notable Days

2023-09-14: Highest Volume — 489 contracts
2023-09-12: Largest IV spike — 84.8% change
2023-09-12: Highest IV Rank — 52.7%
2023-09-27: Largest Expected Move — 7.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$22.52	$21.80	$23.44	$22.46	$22.27
Max Pain	$22.63	$22.50	$25.00	$25.00	$22.50
ATM IV	21.9%	13.2%	29.5%	19.2%	23.6%
Expected Move	6.5%	5.5%	7.2%	5.5%	6.8%
HV 20d	20.6%	16.8%	23.8%	16.8%	23.4%
HV 60d	21.8%	20.4%	22.8%	22.5%	20.4%
IV Rank	25.6%	0.0%	52.7%	0.5%	33.6%
IV Percentile	12.9%	0.0%	61.1%	0.4%	16.7%
Term Structure	3.4%	1.9%	7.8%	2.5%	4.2%
VWIV	22.6%	19.1%	27.2%	19.5%	23.6%
Skew 25d	3.0%	-6.5%	12.0%	2.9%	2.4%
Skew 10d	3.5%	-10.5%	21.2%	4.6%	4.4%
Call IV 25d	20.3%	15.7%	28.4%	18.7%	19.8%
Put IV 25d	23.2%	20.5%	27.7%	21.6%	22.2%
Bid-Ask Spread %	55.18	11.07	94.60	71.48	94.60
Gamma HHI	0.42	0.30	0.61	0.37	0.45
Net GEX	11.2K	-103.8K	151.7K	-55.2K	21.0K
Net DEX	303.5K	-1.3M	1.7M	878.2K	189.3K
Net VEX	-11.1K	-12.3K	-9.9K	-12.0K	-9.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.05	0.00	14.90	0.64	0.00
Total Volume	94.4	7	489	41	7
Total OI	6,157.35	4,115	8,116	7,792	4,514

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
2023-09-01	$22.46	$25.00	19.2%	5.5%	16.8%	0.5%	19.5%	2.9%	2.5%	-55.2K	878.2K	-12.0K	0.64	71.48	25	16	5,047	2,745
2023-09-05	$21.95	$22.50	21.1%	6.3%	18.1%	8.0%	0.0%	6.2%	2.6%	-55.5K	1.5M	-10.5K	0.04	66.38	50	2	5,056	2,757
2023-09-06	$21.80	$22.50	23.0%	6.3%	17.4%	15.5%	27.2%	2.8%	2.7%	-44.8K	1.6M	-10.3K	0.15	74.45	55	8	5,072	2,757
2023-09-07	$21.80	$22.50	13.2%	6.5%	17.2%	0.0%	21.8%	4.7%	1.9%	-21.6K	1.7M	-10.2K	0.94	66.21	53	50	5,123	2,752
2023-09-08	$22.09	$22.50	16.9%	6.1%	17.9%	12.0%	21.4%	5.6%	3.0%	-70.4K	1.4M	-10.6K	0.13	69.14	151	20	5,122	2,802
2023-09-11	$21.95	$22.50	16.0%	6.3%	16.9%	8.9%	22.1%	6.6%	2.3%	-20.0K	1.7M	-9.9K	0.59	52.38	83	49	5,232	2,802
2023-09-12	$22.05	$22.50	29.5%	6.3%	17.0%	52.7%	22.7%	-1.3%	2.6%	-40.0K	1.4M	-10.3K	1.30	65.96	20	26	5,298	2,806
2023-09-13	$22.43	$22.50	21.1%	6.0%	17.5%	25.4%	21.1%	5.8%	3.4%	-103.8K	986.9K	-10.7K	0.55	62.60	58	32	5,312	2,804
2023-09-14	$23.38	$22.50	21.7%	6.2%	22.5%	27.5%	19.1%	3.3%	7.8%	151.7K	-803.9K	-12.3K	0.16	43.09	421	68	5,223	2,817
2023-09-15	$23.44	$22.50	22.6%	6.5%	21.9%	30.3%	21.2%	1.6%	3.5%	62.1K	-1.3M	-11.5K	0.09	44.92	121	11	5,340	2,509
2023-09-18	$23.30	$22.50	22.1%	6.3%	22.1%	28.9%	22.2%	2.1%	3.9%	69.5K	-786.3K	-11.7K	0.16	24.78	75	12	2,844	1,271
2023-09-19	$23.34	$22.50	22.5%	6.5%	20.7%	30.2%	22.4%	3.1%	3.2%	69.9K	-856.2K	-11.7K	0.30	32.66	67	20	2,908	1,278
2023-09-20	$22.80	$22.50	22.2%	6.4%	22.6%	29.1%	22.2%	12.0%	3.6%	54.6K	-403.8K	-11.3K	14.90	75.14	10	149	2,945	1,298
2023-09-21	$22.94	$22.50	22.8%	6.5%	22.5%	30.9%	22.8%	-1.5%	3.1%	42.6K	-446.9K	-11.9K	0.33	49.62	66	22	2,946	1,418
2023-09-22	$22.66	$22.50	23.2%	6.7%	23.1%	32.4%	23.2%	-6.5%	3.6%	36.9K	-236.8K	-11.9K	0.09	80.61	11	1	3,010	1,420
2023-09-25	$22.80	$22.50	24.3%	7.0%	22.8%	36.0%	24.3%	5.5%	2.9%	42.5K	-393.2K	-11.8K	0.00	35.62	66	0	3,014	1,421
2023-09-26	$22.41	$22.50	24.9%	7.1%	23.8%	37.8%	0.0%	2.7%	2.9%	33.8K	-97.3K	-11.5K	0.40	11.07	5	2	3,069	1,421
2023-09-27	$22.18	$22.50	25.2%	7.2%	23.7%	38.7%	26.8%	0.0%	3.2%	25.5K	60.7K	-11.3K	0.18	41.32	22	4	3,074	1,422
2023-09-28	$22.27	$22.50	23.6%	6.8%	23.5%	33.7%	23.6%	1.2%	4.3%	26.0K	42.7K	-11.4K	0.11	41.47	27	3	3,074	1,424
2023-09-29	$22.27	$22.50	23.6%	6.8%	23.4%	33.6%	23.6%	2.4%	4.2%	21.0K	189.3K	-9.9K	0.00	94.60	7	0	3,094	1,420