JPM Options History — February 2009

In February 2009, JPM traded between $19.51 and $27.63. ATM implied volatility averaged 101.9%, placing in the 55.2% IV rank vs the trailing year. The 30-day expected move averaged 29.2%. IV traded below realized volatility by 24.1% (HV 20d: 126.1%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 4 of 19 trading days. Term structure was in contango for 1 of 19 days. Put/call ratio averaged 0.96.

Notable Days

  • 2009-02-20: Highest Volume — 321,569 contracts
  • 2009-02-17: Largest IV spike — 29.3% change
  • 2009-02-20: Highest IV Rank — 75.7%
  • 2009-02-20: Largest Expected Move — 37.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$23.48$19.51$27.63$25.19$22.85
Max Pain$27.89$25.00$30.00$25.00$26.00
ATM IV101.9%83.5%129.3%95.8%97.4%
Expected Move29.2%25.3%37.1%27.5%27.9%
HV 20d126.1%92.7%152.7%140.0%92.7%
HV 60d124.8%110.6%131.9%127.0%110.6%
IV Rank55.2%41.4%75.7%50.6%51.8%
IV Percentile90.3%79.0%98.0%90.1%86.1%
Term Structure-5.6%-20.2%0.6%-0.8%-0.2%
VWIV102.0%88.5%133.7%98.0%95.9%
Skew 25d22.5%17.8%32.9%17.8%22.7%
Skew 10d44.8%34.5%61.9%37.0%45.8%
Call IV 25d90.5%79.8%111.7%87.5%84.7%
Put IV 25d113.0%97.8%144.6%105.2%107.5%
Bid-Ask Spread %2.882.393.542.392.95
Gamma HHI0.100.060.470.070.08
Net GEX-2.4M-14.5M4.3M-376.8K-2.1M
Net DEX349.4M-145.0M761.6M201.1M319.0M
Net VEX-5.8M-7.0M-4.7M-6.2M-5.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.960.611.491.331.04
Total Volume148,30082,408321,569107,03997,402
Total OI1,829,429.9471,656,9852,013,3731,677,9141,800,925

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-02-02$25.19$25.0095.8%27.5%140.0%50.6%98.0%17.8%-0.8%-376.8K201.1M-6.2M1.332.39N/AN/A46,01761,022765,016912,898
2009-02-03$24.05$25.0098.5%28.2%138.9%52.6%100.4%21.5%-0.7%-1.4M335.0M-5.8M0.963.16N/AN/A82,51879,582781,003926,025
2009-02-04$24.04$25.0098.3%28.2%138.5%52.5%97.0%20.4%-0.4%-1.4M332.3M-6.0M0.712.50N/AN/A48,30434,104817,273954,196
2009-02-05$24.54$25.00107.3%30.7%137.6%59.2%110.3%18.0%-7.7%-199.8K230.3M-6.3M0.973.26N/AN/A73,85671,908817,489945,067
2009-02-06$27.63$30.00103.4%27.0%144.1%56.3%93.1%23.8%-10.0%3.4M-145.0M-7.0M0.613.12N/AN/A105,87964,443823,330955,819
2009-02-09$27.28$30.0097.5%26.6%143.1%51.9%100.0%24.7%-9.5%4.3M-114.5M-7.0M0.762.53N/AN/A54,68341,690866,571980,245
2009-02-10$24.62$30.0094.3%28.0%147.2%49.5%101.3%21.0%-7.6%-625.6K309.7M-6.1M1.232.39N/AN/A74,53291,330861,889990,085
2009-02-11$26.09$30.0083.5%26.2%147.3%41.4%91.6%20.2%-4.5%1.7M110.0M-6.5M1.492.82N/AN/A55,08982,220866,8881,019,060
2009-02-12$26.19$30.0089.4%25.6%147.2%45.8%90.8%20.5%-1.5%1.3M127.5M-6.7M0.873.44N/AN/A80,29169,808879,4061,045,753
2009-02-13$24.69$30.0088.4%25.3%147.0%45.1%89.6%18.0%-0.2%-1.6M336.8M-6.2M1.022.74N/AN/A42,46243,508882,6471,052,094
2009-02-17$21.65$30.00114.3%32.8%152.7%64.5%109.9%21.0%-13.3%-6.0M657.0M-5.2M0.913.03N/AN/A88,90380,853881,4641,060,837
2009-02-18$21.51$29.00108.5%31.1%126.5%60.1%104.1%22.4%-9.3%-6.5M675.8M-5.1M1.132.84N/AN/A74,72684,622903,3611,063,497
2009-02-19$20.60$29.00112.6%32.3%98.7%63.2%112.2%25.6%-13.7%-8.3M754.2M-4.8M0.922.53N/AN/A75,74069,860920,7731,084,835
2009-02-20$19.90$29.00129.3%37.1%98.7%75.7%133.7%32.9%-20.2%-14.5M761.6M-4.8M1.263.54N/AN/A142,007179,562937,8901,075,483
2009-02-23$19.51$27.50121.6%34.9%96.4%70.0%119.4%28.0%-3.9%-3.5M535.9M-4.7M1.083.18N/AN/A73,83579,736733,352923,633
2009-02-24$21.02$27.50104.7%30.0%100.9%57.3%104.7%24.8%0.6%-3.6M474.5M-5.3M0.702.73N/AN/A93,55265,123756,535948,651
2009-02-25$21.73$26.0099.4%28.5%101.4%53.3%96.8%22.5%-3.8%-3.2M419.1M-5.5M0.702.88N/AN/A87,13960,610785,025961,133
2009-02-26$23.05$26.0092.9%26.6%96.8%48.4%88.5%21.9%-0.6%-2.4M318.0M-5.8M0.632.76N/AN/A98,54062,244799,618979,403
2009-02-27$22.85$26.0097.4%27.9%92.7%51.8%95.9%22.7%-0.2%-2.1M319.0M-5.9M1.042.95N/AN/A47,83849,564814,266986,659