JPM Options History — November 2007

In November 2007, JPM traded between $40.46 and $45.62. ATM implied volatility averaged 41.9%, placing in the 75.0% IV rank vs the trailing year. The 30-day expected move averaged 11.6%. IV traded above realized volatility by 0.6% (HV 20d: 41.3%). Max pain ranged from $45.00 to $47.50. Net GEX was positive for 1 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 1.31.

Notable Days

  • 2007-11-05: Highest Volume — 74,492 contracts
  • 2007-11-07: Largest IV spike — 29.5% change
  • 2007-11-26: Highest IV Rank — 96.7%
  • 2007-11-26: Largest Expected Move — 14.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$42.97$40.46$45.62$44.32$45.62
Max Pain$46.31$45.00$47.50$45.00$45.00
ATM IV41.9%34.2%50.2%36.6%34.2%
Expected Move11.6%9.5%14.4%10.5%9.8%
HV 20d41.3%30.2%51.8%30.2%50.0%
HV 60d32.1%28.4%36.5%31.0%36.5%
IV Rank75.0%54.9%96.7%60.9%54.9%
IV Percentile92.9%80.0%99.1%91.0%80.0%
Term Structure0.2%-3.3%3.2%-2.4%3.2%
VWIV40.8%32.0%49.3%37.8%32.0%
Skew 25d9.5%6.7%12.6%8.3%8.1%
Skew 10d17.9%11.9%21.9%11.9%18.9%
Call IV 25d36.9%30.3%46.9%34.2%30.3%
Put IV 25d46.4%38.4%55.2%42.5%38.4%
Bid-Ask Spread %8.877.0714.057.137.20
Gamma HHI0.140.120.150.120.15
Net GEX-12.3M-17.7M3.0M-8.5M3.0M
Net DEX366.4M-297.8M796.8M181.2M-297.8M
Net VEX-10.8M-11.3M-10.3M-10.6M-11.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.310.523.041.110.85
Total Volume50,120.33326,74974,49242,03355,466
Total OI1,494,293.3811,369,5211,608,7721,369,5211,608,772

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-11-01$44.32$45.0036.6%10.5%30.2%60.9%37.8%8.3%-2.4%-8.5M181.2M-10.6M1.117.13N/AN/A19,87622,157627,270742,251
2007-11-02$43.15$45.0042.9%12.3%31.1%77.6%43.9%9.6%-3.3%-12.1M388.5M-10.4M1.2514.05N/AN/A32,68840,790630,302747,687
2007-11-05$42.77$47.5044.7%11.4%31.1%82.2%39.3%9.0%-0.4%-14.6M438.3M-10.4M2.237.39N/AN/A23,07151,421635,143760,456
2007-11-06$44.11$47.5035.1%9.5%33.5%57.0%34.5%6.7%1.3%-13.5M221.6M-10.8M0.817.26N/AN/A22,81118,589639,954789,985
2007-11-07$42.24$47.5045.4%11.6%36.2%84.1%41.3%8.3%0.4%-16.8M536.7M-10.6M1.449.33N/AN/A15,17121,831651,901793,113
2007-11-08$42.61$47.5045.0%12.5%36.6%82.9%42.2%10.2%-0.5%-15.8M491.7M-10.9M2.068.90N/AN/A16,39033,841656,555801,285
2007-11-09$42.31$47.5046.7%12.8%36.5%87.6%45.4%12.2%-0.3%-16.3M530.6M-11.0M2.008.30N/AN/A17,36934,743661,623807,086
2007-11-12$42.39$47.5049.1%12.7%36.4%93.6%41.8%10.3%-0.2%-17.7M545.7M-10.8M0.707.98N/AN/A40,72728,369664,559814,467
2007-11-13$45.05$47.5044.3%10.9%42.2%81.3%38.8%10.0%0.5%-4.9M-40.6M-11.3M0.6910.55N/AN/A41,86428,817690,293820,340
2007-11-14$45.15$47.5039.7%10.6%41.0%69.0%37.3%7.8%-0.1%-6.3M-59.7M-11.3M0.938.27N/AN/A16,50615,382698,435822,384
2007-11-15$43.53$47.5041.5%11.9%42.8%74.0%40.4%10.2%-1.1%-14.0M278.4M-11.0M1.397.60N/AN/A21,80730,321701,422823,846
2007-11-16$43.09$47.5039.1%11.2%42.4%67.7%38.1%9.6%0.5%-15.6M358.5M-11.0M0.528.67N/AN/A26,47113,786708,792828,739
2007-11-19$41.37$47.5039.7%11.4%44.4%69.1%40.9%9.3%0.2%-15.4M641.8M-10.4M1.017.07N/AN/A17,93218,107683,662784,926
2007-11-20$41.63$45.0039.8%11.4%44.1%69.4%40.7%12.6%1.8%-14.5M601.2M-10.6M1.5011.71N/AN/A23,58435,301691,491794,144
2007-11-21$40.68$45.0046.9%13.5%44.3%88.1%47.1%9.1%-0.2%-15.5M745.7M-10.4M1.538.83N/AN/A12,71319,432700,711810,918
2007-11-23$41.95$45.0043.3%12.4%46.2%78.5%46.2%10.1%0.3%-13.5M546.2M-10.7M3.049.61N/AN/A7,86523,875704,931811,673
2007-11-26$40.46$45.0050.2%14.4%45.9%96.7%49.3%8.3%-0.9%-16.2M796.8M-10.3M1.127.70N/AN/A25,52028,517708,748825,609
2007-11-27$42.35$45.0041.7%12.0%49.6%74.3%44.0%10.4%2.2%-13.0M457.6M-10.9M1.068.20N/AN/A32,80234,864722,308835,116
2007-11-28$43.96$45.0035.5%10.2%51.8%58.1%38.4%9.3%1.9%-7.6M133.8M-11.1M1.0312.18N/AN/A27,15327,849738,097841,539
2007-11-29$43.65$45.0039.0%11.2%51.6%67.3%38.0%10.1%1.3%-8.6M198.2M-11.2M1.238.29N/AN/A12,01914,730750,554849,074
2007-11-30$45.62$45.0034.2%9.8%50.0%54.9%32.0%8.1%3.2%3.0M-297.8M-11.3M0.857.20N/AN/A29,99925,467754,092854,680