JPM Options History — August 2007

In August 2007, JPM traded between $43.00 and $47.01. ATM implied volatility averaged 38.1%, placing in the 67.6% IV rank vs the trailing year. The 30-day expected move averaged 10.5%. IV traded above realized volatility by 3.7% (HV 20d: 34.4%). Max pain ranged from $45.00 to $47.50. Net GEX was positive for 1 of 23 trading days. Term structure was in contango for 10 of 23 days. Put/call ratio averaged 1.59.

Notable Days

  • 2007-08-17: Highest Volume — 133,994 contracts
  • 2007-08-09: Largest IV spike — 42.6% change
  • 2007-08-01: Highest IV Rank — 100.0%
  • 2007-08-03: Largest Expected Move — 14.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$44.87$43.00$47.01$44.38$44.52
Max Pain$47.28$45.00$47.50$47.50$47.50
ATM IV38.1%29.2%51.5%39.8%33.4%
Expected Move10.5%8.4%14.8%11.4%9.6%
HV 20d34.4%26.2%40.3%26.2%38.0%
HV 60d25.8%20.8%29.2%20.8%29.2%
IV Rank67.6%41.7%100.0%100.0%52.7%
IV Percentile93.2%84.8%100.0%100.0%88.0%
Term Structure-0.9%-4.2%3.4%-3.8%1.8%
VWIV38.3%27.7%50.7%43.3%33.4%
Skew 25d10.0%4.8%15.5%8.5%4.8%
Skew 10d20.9%11.0%32.3%20.2%11.0%
Call IV 25d32.5%24.1%47.1%37.5%32.3%
Put IV 25d42.5%32.7%54.5%46.0%37.2%
Bid-Ask Spread %11.297.7219.4415.0610.85
Gamma HHI0.120.100.140.110.12
Net GEX-9.3M-15.3M682.8K-13.4M-9.6M
Net DEX243.6M-265.2M601.4M340.2M310.4M
Net VEX-11.8M-12.5M-11.3M-11.4M-11.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.590.303.100.970.30
Total Volume56,384.43525,402133,99478,75533,675
Total OI1,376,692.0431,255,2741,463,4321,255,2741,425,175

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-08-01$44.38$47.5039.8%11.4%26.2%100.0%43.3%8.5%-3.8%-13.4M340.2M-11.4M0.9715.06N/AN/A40,04938,706564,876690,398
2007-08-02$44.59$45.0039.2%11.2%26.4%97.8%40.4%9.6%-2.4%-11.3M275.0M-11.4M1.688.76N/AN/A32,67154,828575,355693,530
2007-08-03$43.65$45.0051.5%14.8%26.8%100.0%50.7%7.4%-3.9%-10.2M395.8M-11.7M0.9712.74N/AN/A45,29643,862589,941719,516
2007-08-06$45.11$47.5042.6%11.0%30.1%76.7%38.5%11.3%-3.7%-8.2M231.1M-11.8M1.1111.43N/AN/A49,02754,482607,647729,052
2007-08-07$45.34$47.5036.2%9.8%29.1%60.0%34.1%11.1%-2.8%-8.0M164.3M-11.8M0.8712.33N/AN/A24,55921,436627,989760,004
2007-08-08$46.51$47.5032.1%8.8%30.3%49.2%34.5%9.1%-1.7%-1.9M-96.7M-11.9M1.8319.44N/AN/A23,68943,398627,234750,228
2007-08-09$44.17$47.5045.8%10.9%32.9%85.0%45.3%10.6%-3.1%-9.7M338.8M-11.8M3.1014.90N/AN/A19,35160,066637,078761,505
2007-08-10$44.25$47.5046.1%11.7%32.4%85.9%40.9%12.0%-3.5%-11.5M357.7M-12.3M1.1912.46N/AN/A21,57525,679640,283793,609
2007-08-13$43.83$47.5043.4%11.0%32.5%78.7%37.6%10.5%-3.6%-14.0M485.1M-11.7M0.707.72N/AN/A21,86415,367644,013776,699
2007-08-14$43.30$47.5046.3%12.2%32.4%86.4%49.7%13.2%-4.0%-15.1M593.2M-11.5M2.067.93N/AN/A9,97320,564651,450776,583
2007-08-15$43.00$47.5050.9%12.9%32.0%98.4%48.1%13.2%-3.7%-15.3M601.4M-11.6M1.457.80N/AN/A17,72625,678652,320783,046
2007-08-16$45.47$47.5043.5%12.5%38.9%79.1%43.3%15.5%-4.2%-4.1M-14.6M-12.5M0.999.58N/AN/A31,61331,175655,985792,969
2007-08-17$47.01$47.5035.8%10.3%40.3%58.9%37.2%15.2%-1.9%682.8K-265.2M-12.5M1.1710.86N/AN/A61,88072,114665,632797,800
2007-08-20$46.49$47.5032.6%9.3%40.3%50.6%37.6%12.0%0.7%-4.0M-27.6M-12.3M1.5911.82N/AN/A15,19724,099592,256734,318
2007-08-21$46.20$47.5034.0%9.7%37.8%54.2%32.8%10.1%1.5%-5.3M17.3M-12.0M1.588.33N/AN/A9,85115,551598,534738,684
2007-08-22$46.00$47.5030.9%8.9%37.8%46.2%34.1%9.1%2.3%-6.4M55.6M-11.8M2.7213.62N/AN/A13,18535,838601,299741,803
2007-08-23$45.67$47.5030.8%8.8%36.6%45.8%31.3%9.2%2.1%-6.6M108.0M-11.6M2.449.42N/AN/A15,14636,891606,567746,936
2007-08-24$45.95$47.5029.2%8.4%36.6%41.7%27.7%8.7%3.1%-7.5M99.0M-11.6M2.4115.88N/AN/A8,78921,186612,378757,602
2007-08-27$44.91$47.5029.8%8.6%37.4%43.4%33.1%8.4%2.9%-10.3M280.9M-11.3M2.778.48N/AN/A7,75221,464614,637754,272
2007-08-28$43.60$47.5036.8%10.6%38.5%61.6%36.1%6.7%2.2%-14.0M517.4M-11.3M2.787.92N/AN/A9,97927,766614,717764,636
2007-08-29$44.13$47.5030.4%8.7%38.6%44.9%34.9%8.5%3.4%-14.1M422.9M-11.3M1.5611.54N/AN/A11,41417,759618,556773,702
2007-08-30$43.97$47.5035.5%10.2%38.6%58.2%35.7%5.1%0.9%-13.5M412.7M-11.4M0.3810.73N/AN/A46,79417,878621,856781,247
2007-08-31$44.52$47.5033.4%9.6%38.0%52.7%33.4%4.8%1.8%-9.6M310.4M-11.6M0.3010.85N/AN/A25,9017,774640,186784,989