GPK Options History — September 2025

In September 2025, GPK traded between $19.11 and $21.94. ATM implied volatility averaged 32.9%, placing in the 20.1% IV rank vs the trailing year. The 30-day expected move averaged 9.3%. IV traded above realized volatility by 5.4% (HV 20d: 27.5%). Max pain ranged from $20.00 to $22.50. Net GEX was positive for 10 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 1.37.

Notable Days

  • 2025-09-08: Highest Volume — 3,173 contracts
  • 2025-09-03: Largest IV spike — 19.2% change
  • 2025-09-03: Highest IV Rank — 23.7%
  • 2025-09-03: Largest Expected Move — 10.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$20.22$19.11$21.94$21.94$19.50
Max Pain$21.67$20.00$22.50$22.50$20.00
ATM IV32.9%30.1%35.9%30.1%35.0%
Expected Move9.3%7.5%10.3%8.6%10.0%
HV 20d27.5%26.0%31.4%27.1%26.9%
HV 60d27.8%25.8%28.5%25.8%27.3%
IV Rank20.1%16.8%23.7%16.8%22.6%
IV Percentile78.1%64.3%86.5%64.3%84.9%
Term Structure-0.2%-14.1%2.6%-1.3%0.9%
VWIV32.4%27.9%35.7%30.1%33.8%
Skew 25d3.1%-1.8%8.4%-1.8%5.2%
Skew 10d5.3%-8.2%31.2%-8.2%7.4%
Call IV 25d32.3%25.6%37.4%35.9%35.0%
Put IV 25d35.4%30.3%40.2%34.1%40.2%
Bid-Ask Spread %68.8548.9881.6879.9266.71
Gamma HHI0.550.360.840.390.53
Net GEX-91.5K-670.6K167.0K16.7K167.0K
Net DEX221.6K-2.4M4.9M-395.4K-2.4M
Net VEX-12.6K-23.6K-6.8K-14.4K-16.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.370.0114.0014.000.09
Total Volume615.476123,1733012
Total OI7,731.194,19010,6367,5166,122

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-09-02$21.94$22.5030.1%8.6%27.1%16.8%30.1%-1.8%-1.3%16.7K-395.4K-14.4K14.0079.922284,3763,140
2025-09-03$20.91$22.5035.9%10.3%31.4%23.7%33.4%1.7%-5.7%-126.2K1.4M-12.7K5.1677.25251294,3783,157
2025-09-04$20.87$22.5031.8%8.7%30.9%18.7%30.5%2.9%2.0%-174.6K1.5M-12.5K0.0169.861,725214,3933,238
2025-09-05$21.38$22.5032.5%7.5%28.1%19.6%27.9%4.6%-10.8%-8.2K-1.1M-23.6K0.0581.681,377646,0973,249
2025-09-08$20.98$22.5035.5%8.9%28.6%23.2%33.5%2.4%2.6%22.2K-2.0M-23.2K0.0262.003,101727,3653,271
2025-09-09$20.55$22.5033.0%8.9%28.6%20.2%31.0%2.2%1.9%-201.0K1.5M-12.0K0.0473.341,074395,0763,343
2025-09-10$20.76$22.5031.9%9.2%27.8%18.9%32.2%4.3%1.9%-200.2K956.7K-11.5K0.3778.68105395,9953,380
2025-09-11$20.98$22.5032.1%9.2%27.0%19.1%31.0%2.6%1.2%-163.6K448.6K-10.8K1.2474.7917215,9803,405
2025-09-12$20.79$22.5031.1%8.9%26.6%17.9%28.8%2.6%2.1%-246.0K670.7K-10.4K0.3775.67139525,9923,411
2025-09-15$20.27$22.5031.9%9.2%27.6%18.9%33.0%1.9%1.5%-347.3K1.9M-10.3K0.6176.1118116,0273,386
2025-09-16$20.35$22.5032.1%9.2%27.7%19.1%32.0%4.0%1.7%-330.0K1.5M-9.9K2.2979.727166,0313,313
2025-09-17$20.05$22.5032.0%9.2%26.7%19.0%33.6%2.1%1.5%-438.1K2.0M-9.0K1.7770.12611086,0323,091
2025-09-18$19.96$22.5032.1%9.2%26.7%19.2%35.7%1.3%-14.1%-670.6K2.3M-8.7K0.2358.133176,0613,088
2025-09-19$19.53$22.5033.4%9.6%26.6%20.7%33.4%1.5%0.9%37.9K4.9M-6.8K1.4466.879451,3646,0693,092
2025-09-22$19.53$20.0032.9%9.4%26.0%20.1%32.9%8.4%1.4%100.7K-735.7K-7.7K0.1956.1064123,665525
2025-09-23$19.11$20.0034.0%9.8%26.4%21.4%34.1%5.3%0.7%86.7K-475.4K-7.1K0.0853.9011393,701536
2025-09-24$19.35$20.0033.2%9.5%27.1%20.4%33.7%7.7%1.9%98.0K-631.4K-7.6K0.0248.981,841403,710545
2025-09-25$19.23$20.0034.2%9.8%26.6%21.7%34.2%3.5%1.0%145.1K-2.1M-16.3K0.6364.69855,478549
2025-09-26$19.34$20.0032.7%9.4%26.7%19.9%32.7%2.4%2.3%154.1K-2.3M-16.5K0.1965.8459115,479547
2025-09-29$19.31$20.0034.0%9.8%26.3%21.4%34.0%0.1%1.7%156.4K-2.2M-16.0K0.0665.4114585,510552
2025-09-30$19.50$20.0035.0%10.0%26.9%22.6%33.8%5.2%0.9%167.0K-2.4M-16.8K0.0966.711115,570552