JPM Options History — January 2009

In January 2009, JPM traded between $18.09 and $31.35. ATM implied volatility averaged 91.3%, placing in the 47.3% IV rank vs the trailing year. The 30-day expected move averaged 25.5%. IV traded below realized volatility by 10.0% (HV 20d: 101.4%). Max pain ranged from $25.00 to $40.00. Net GEX was positive for 1 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 1.18.

Notable Days

  • 2009-01-16: Highest Volume — 383,816 contracts
  • 2009-01-20: Largest IV spike — 68.1% change
  • 2009-01-20: Highest IV Rank — 87.1%
  • 2009-01-20: Largest Expected Move — 41.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.62$18.09$31.35$31.35$25.51
Max Pain$28.05$25.00$40.00$40.00$25.00
ATM IV91.3%62.3%144.4%62.3%91.3%
Expected Move25.5%17.9%41.4%17.9%26.2%
HV 20d101.4%56.2%140.2%89.5%140.0%
HV 60d118.2%110.2%128.9%112.7%127.3%
IV Rank47.3%25.5%87.1%25.5%47.2%
IV Percentile86.4%66.3%98.8%66.3%87.7%
Term Structure-1.2%-15.6%4.8%0.7%0.9%
VWIV88.6%63.3%135.1%63.3%94.0%
Skew 25d23.8%10.9%44.3%10.9%18.7%
Skew 10d49.4%20.8%90.8%20.8%40.6%
Call IV 25d76.8%58.1%117.1%58.1%84.1%
Put IV 25d100.6%69.0%161.4%69.0%102.8%
Bid-Ask Spread %3.342.237.352.872.78
Gamma HHI0.140.070.530.150.07
Net GEX-5.8M-17.4M1.8M-6.4M-62.7K
Net DEX842.6M-61.1M1.57B1.01B179.5M
Net VEX-5.0M-6.4M-3.0M-5.4M-6.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.180.552.890.691.08
Total Volume195,995.196,374383,81696,374124,489
Total OI1,869,767.71,220,3602,377,5202,038,8691,646,800

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-01-02$31.35$40.0062.3%17.9%89.5%25.5%63.3%10.9%0.7%-6.4M1.01B-5.4M0.692.87N/AN/A57,16739,207918,5631,120,306
2009-01-05$29.25$29.0077.9%20.5%92.4%37.2%73.1%18.2%-0.5%-7.4M1.20B-4.9M1.253.01N/AN/A58,76973,314939,2181,123,341
2009-01-06$29.88$29.0070.7%21.6%88.7%31.8%75.4%20.9%-0.3%-7.5M999.5M-5.3M2.032.62N/AN/A82,749167,699956,9391,114,782
2009-01-07$28.09$30.0082.4%24.0%83.3%40.6%82.4%23.1%-1.2%-10.0M1.23B-5.3M2.032.23N/AN/A33,19667,423974,3841,174,185
2009-01-08$27.22$30.0078.8%24.6%80.7%37.9%82.2%21.7%-4.2%-10.7M1.33B-4.9M1.117.35N/AN/A48,81954,188969,9021,176,606
2009-01-09$25.97$30.0074.7%24.5%81.7%34.8%82.8%22.4%-5.6%-11.2M1.47B-4.4M0.872.33N/AN/A61,02652,946978,4271,173,987
2009-01-12$24.91$30.0088.6%26.1%73.6%45.2%89.1%24.4%-4.7%-10.9M1.52B-4.1M1.002.42N/AN/A83,98083,731992,9961,168,656
2009-01-13$26.35$29.00114.1%24.1%75.8%64.3%83.5%24.3%-0.9%-9.5M1.34B-4.6M1.082.56N/AN/A103,701111,4921,023,4421,172,992
2009-01-14$25.91$29.00123.0%23.7%71.4%71.0%85.6%20.3%1.6%-9.7M1.35B-4.6M0.803.69N/AN/A152,334121,3481,037,3411,187,515
2009-01-15$24.34$29.0089.5%25.7%56.2%45.9%85.1%24.8%1.3%-10.1M1.45B-4.6M1.284.47N/AN/A111,071142,1561,105,6061,237,751
2009-01-16$22.82$29.0086.0%24.6%59.0%43.2%86.2%26.4%4.8%-17.4M1.57B-4.0M1.513.80N/AN/A153,024230,7921,119,0771,258,443
2009-01-20$18.09$27.00144.4%41.4%96.2%87.1%135.1%44.3%-15.6%-2.4M584.3M-3.0M0.753.92N/AN/A208,408155,583568,104652,256
2009-01-21$22.63$25.0098.8%28.3%130.7%52.9%104.4%37.9%-1.0%-2.2M464.7M-4.5M0.553.40N/AN/A144,18078,659638,105730,159
2009-01-22$23.10$25.0099.3%28.5%131.3%53.2%103.9%32.4%0.2%-13.8K279.6M-4.7M1.103.46N/AN/A93,518102,808729,987727,162
2009-01-23$24.28$25.00101.4%29.1%133.0%54.8%98.9%27.6%-4.1%-500.6K259.4M-5.3M0.763.46N/AN/A98,74575,014682,356755,942
2009-01-26$24.50$25.0096.8%27.7%132.6%51.3%94.5%22.8%-0.5%-403.6K241.5M-5.5M0.933.05N/AN/A94,13087,113715,007798,665
2009-01-27$25.06$25.0082.6%23.7%133.1%40.7%86.8%22.0%1.9%-676.7K263.0M-5.5M2.892.67N/AN/A52,829152,764729,203837,294
2009-01-28$27.66$25.0078.2%22.4%138.5%37.4%80.8%16.2%1.5%1.8M-61.1M-6.4M0.633.14N/AN/A155,30198,046746,285870,250
2009-01-29$25.43$25.0086.3%24.7%140.2%43.5%84.7%16.7%2.3%-279.6K172.1M-6.1M1.213.54N/AN/A48,91459,269757,258886,062
2009-01-30$25.51$25.0091.3%26.2%140.0%47.2%94.0%18.7%0.9%-62.7K179.5M-6.2M1.082.78N/AN/A59,91564,574750,230896,570