GPK Options History — December 2023

In December 2023, GPK traded between $22.84 and $24.87. ATM implied volatility averaged 22.7%, placing in the 30.6% IV rank vs the trailing year. The 30-day expected move averaged 6.5%. IV traded below realized volatility by 4.0% (HV 20d: 26.7%). Max pain ranged from $22.50 to $22.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 18 of 20 days. Put/call ratio averaged 0.41.

Notable Days

2023-12-15: Highest Volume — 196 contracts
2023-12-12: Largest IV spike — 26.2% change
2023-12-06: Highest IV Rank — 43.7%
2023-12-05: Largest Expected Move — 8.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$24.01	$22.84	$24.87	$23.06	$24.70
Max Pain	$22.50	$22.50	$22.50	$22.50	$22.50
ATM IV	22.7%	19.2%	26.7%	23.5%	21.1%
Expected Move	6.5%	6.0%	8.5%	6.7%	6.0%
HV 20d	26.7%	22.0%	29.8%	24.1%	28.2%
HV 60d	24.9%	22.5%	26.2%	24.1%	25.5%
IV Rank	30.6%	19.4%	43.7%	33.3%	25.4%
IV Percentile	19.5%	1.6%	59.5%	22.6%	5.2%
Term Structure	3.1%	-2.6%	7.4%	-0.5%	4.5%
VWIV	22.0%	20.8%	24.2%	23.6%	21.1%
Skew 25d	-2.3%	-15.0%	12.6%	12.6%	-1.7%
Skew 10d	-2.8%	-30.5%	77.5%	77.5%	-3.2%
Call IV 25d	26.1%	20.6%	37.4%	29.7%	23.4%
Put IV 25d	23.8%	16.7%	42.3%	42.3%	21.7%
Bid-Ask Spread %	64.45	44.15	100.51	78.86	50.60
Gamma HHI	0.49	0.37	0.91	0.42	0.54
Net GEX	86.4K	26.7K	457.3K	92.4K	59.3K
Net DEX	-1.3M	-2.6M	-806.2K	-1.2M	-1.3M
Net VEX	-5.5K	-6.6K	-5.0K	-6.6K	-5.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.41	0.00	2.75	0.00	0.24
Total Volume	51.5	2	196	130	57
Total OI	3,272.65	1,555	4,671	4,671	1,719

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
2023-12-01	$23.06	$22.50	23.5%	6.7%	24.1%	33.3%	23.6%	12.6%	-0.5%	92.4K	-1.2M	-6.6K	0.00	78.86	130	0	3,522	1,149
2023-12-04	$23.13	$22.50	26.2%	6.9%	24.1%	42.1%	21.3%	4.3%	2.1%	89.3K	-1.1M	-6.4K	0.00	56.52	37	0	3,469	1,149
2023-12-05	$22.84	$22.50	25.4%	8.5%	24.5%	39.3%	0.0%	-0.6%	-2.6%	62.7K	-806.2K	-6.3K	0.64	100.51	33	21	3,489	1,149
2023-12-06	$22.99	$22.50	26.7%	6.9%	24.5%	43.7%	24.2%	3.9%	2.9%	72.5K	-977.6K	-6.3K	0.00	51.66	0	2	3,510	1,149
2023-12-07	$23.34	$22.50	26.4%	7.0%	24.9%	42.7%	23.2%	-0.6%	1.8%	90.7K	-1.3M	-6.1K	0.70	48.44	30	21	3,510	1,151
2023-12-08	$23.34	$22.50	23.0%	6.6%	22.0%	31.5%	22.0%	1.1%	3.4%	70.0K	-1.5M	-5.4K	0.31	44.15	13	4	3,514	1,131
2023-12-11	$23.27	$22.50	19.2%	6.7%	22.1%	19.4%	22.9%	1.1%	3.8%	26.7K	-1.6M	-5.1K	0.00	75.55	6	0	3,516	1,131
2023-12-12	$22.93	$22.50	24.2%	6.4%	22.6%	35.6%	22.0%	-1.3%	4.1%	64.8K	-1.1M	-5.4K	0.69	51.16	16	11	3,513	1,131
2023-12-13	$24.34	$22.50	22.1%	6.3%	28.6%	28.8%	20.9%	2.2%	2.4%	199.6K	-2.6M	-5.7K	0.03	87.80	70	2	3,529	1,131
2023-12-14	$24.63	$22.50	20.9%	6.0%	27.4%	24.8%	21.5%	2.8%	0.4%	457.3K	-1.8M	-5.1K	0.06	70.39	107	6	3,243	1,132
2023-12-15	$24.06	$22.50	21.9%	6.3%	28.4%	28.0%	22.0%	2.4%	2.8%	39.4K	-1.2M	-5.0K	0.05	83.58	186	10	3,270	1,130
2023-12-18	$24.66	$22.50	21.8%	6.2%	29.0%	27.7%	21.9%	1.7%	7.4%	43.2K	-1.1M	-5.0K	0.08	90.48	90	7	913	642
2023-12-19	$24.87	$22.50	21.9%	6.3%	28.8%	28.0%	21.9%	-2.1%	3.3%	49.4K	-1.3M	-5.2K	0.61	48.43	23	14	970	648
2023-12-20	$24.69	$22.50	22.1%	6.3%	29.1%	28.7%	0.0%	-9.0%	3.8%	49.6K	-1.2M	-5.3K	0.00	58.27	11	0	977	650
2023-12-21	$24.38	$22.50	22.0%	6.3%	29.7%	28.4%	0.0%	-14.2%	4.1%	50.4K	-1.1M	-5.3K	0.00	58.27	15	0	998	650
2023-12-22	$24.62	$22.50	21.3%	6.1%	29.8%	26.2%	21.3%	-14.7%	4.6%	50.9K	-1.2M	-5.3K	0.58	55.03	24	14	996	650
2023-12-26	$24.80	$22.50	21.3%	6.1%	29.5%	26.3%	20.8%	-5.5%	4.8%	50.4K	-1.3M	-5.3K	2.75	58.01	4	11	1,012	655
2023-12-27	$24.77	$22.50	21.3%	6.1%	28.4%	26.1%	21.3%	-13.5%	3.8%	53.9K	-1.3M	-5.2K	1.00	67.18	1	1	1,016	662
2023-12-28	$24.82	$22.50	21.3%	6.1%	28.0%	26.2%	21.3%	-15.0%	4.3%	54.3K	-1.3M	-5.1K	0.00	54.11	53	0	1,016	661
2023-12-29	$24.70	$22.50	21.1%	6.0%	28.2%	25.4%	21.1%	-1.7%	4.5%	59.3K	-1.3M	-5.2K	0.24	50.60	46	11	1,058	661