JPM Options History — March 2009

In March 2009, JPM traded between $15.90 and $29.10. ATM implied volatility averaged 105.9%, placing in the 58.2% IV rank vs the trailing year. The 30-day expected move averaged 30.2%. IV traded below realized volatility by 24.9% (HV 20d: 130.8%). Max pain ranged from $18.00 to $26.00. Net GEX was positive for 14 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 0.96.

Notable Days

  • 2009-03-06: Highest Volume — 433,748 contracts
  • 2009-03-10: Largest IV drop — 22.2% change
  • 2009-03-06: Highest IV Rank — 91.0%
  • 2009-03-06: Largest Expected Move — 41.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$23.27$15.90$29.10$21.16$26.58
Max Pain$22.05$18.00$26.00$26.00$24.00
ATM IV105.9%84.6%149.7%103.1%102.2%
Expected Move30.2%24.3%41.6%29.6%29.3%
HV 20d130.8%96.0%161.6%96.0%161.6%
HV 60d120.7%109.2%134.0%110.0%134.0%
IV Rank58.2%42.2%91.0%56.1%55.4%
IV Percentile86.5%71.0%99.6%90.9%86.9%
Term Structure-7.8%-22.6%5.4%0.7%-8.2%
VWIV106.5%82.1%140.3%101.5%101.5%
Skew 25d26.1%17.6%35.2%25.4%28.7%
Skew 10d53.0%35.8%77.0%51.8%55.2%
Call IV 25d92.5%73.6%123.4%90.5%86.8%
Put IV 25d118.6%98.9%155.6%115.9%115.5%
Bid-Ask Spread %3.402.155.172.614.09
Gamma HHI0.100.060.150.080.11
Net GEX3.2M-4.1M15.3M-3.3M7.2M
Net DEX-62.7M-894.1M725.7M481.9M-482.8M
Net VEX-6.6M-8.6M-4.1M-5.4M-8.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.960.442.022.020.85
Total Volume250,581.455127,736433,748159,268145,659
Total OI2,111,920.0911,704,7672,550,4141,830,7582,027,571

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-03-02$21.16$26.00103.1%29.6%96.0%56.1%101.5%25.4%0.7%-3.3M481.9M-5.4M2.022.61N/AN/A52,732106,536825,8481,004,910
2009-03-03$21.01$26.0097.0%27.8%96.0%51.5%98.3%17.6%5.4%-3.3M481.9M-5.3M0.772.54N/AN/A81,07262,473837,6991,009,027
2009-03-04$19.30$25.00109.9%31.5%98.9%61.2%107.2%21.7%-0.9%-4.0M611.0M-4.9M1.032.15N/AN/A143,078147,572876,8321,025,667
2009-03-05$16.60$25.00130.9%37.5%110.5%76.9%132.0%24.9%-10.1%-4.1M725.7M-4.1M1.312.50N/AN/A171,534224,546886,3081,064,951
2009-03-06$15.93$21.00149.7%41.6%109.8%91.0%140.3%34.9%-22.5%-3.6M709.7M-4.2M1.253.39N/AN/A193,060240,688938,9221,119,700
2009-03-09$15.90$20.00148.0%39.4%96.9%89.7%135.5%35.2%-22.6%-3.2M709.3M-4.2M0.832.18N/AN/A132,874110,372995,9401,157,273
2009-03-10$19.50$18.00115.2%34.2%127.2%65.2%121.4%27.6%-15.9%-1.8M435.3M-5.5M0.822.58N/AN/A168,062137,2511,037,5701,156,348
2009-03-11$20.40$20.00106.4%30.9%124.7%58.6%106.7%24.2%-10.2%-1.2M353.3M-5.9M0.783.02N/AN/A143,671111,4841,071,7581,221,748
2009-03-12$23.20$20.0097.6%28.0%132.1%52.0%102.8%24.8%-6.2%2.2M-30.3M-6.5M0.913.15N/AN/A141,728128,9891,063,1781,204,948
2009-03-13$23.75$20.0095.7%27.4%132.5%50.5%98.9%22.4%-8.0%3.1M-130.6M-6.8M0.943.29N/AN/A127,566119,7941,074,0721,245,820
2009-03-16$23.09$20.00103.5%29.7%131.3%56.4%108.4%26.4%-10.9%2.3M18.6M-6.4M1.263.22N/AN/A114,172143,7001,091,1961,247,275
2009-03-17$25.14$20.0097.4%27.9%125.6%51.8%102.5%23.4%-11.2%6.9M-328.4M-7.0M1.103.91N/AN/A83,18291,2551,101,2881,300,615
2009-03-18$27.11$20.0084.6%24.3%127.8%42.2%82.1%25.3%-3.3%7.9M-796.1M-7.3M0.445.04N/AN/A214,66794,9951,119,4831,304,624
2009-03-19$24.95$21.00101.7%29.1%130.8%55.0%105.2%28.3%-11.1%15.3M-333.0M-7.1M0.943.47N/AN/A174,276163,9511,192,3931,312,257
2009-03-20$23.15$21.00109.2%31.3%133.3%60.6%109.8%27.4%-10.0%3.5M8.0M-6.8M0.553.19N/AN/A166,40391,6331,203,2371,347,177
2009-03-23$28.86$21.0087.3%25.0%152.7%44.2%95.1%26.0%2.9%7.0M-771.6M-7.9M0.694.18N/AN/A208,932144,218795,571909,196
2009-03-24$26.38$22.00100.6%28.8%155.9%54.2%98.0%25.9%-6.1%6.3M-456.4M-7.8M0.793.15N/AN/A117,73393,167869,787966,333
2009-03-25$28.56$23.0096.3%27.6%157.6%51.0%97.7%23.9%-10.2%9.2M-782.8M-8.4M0.814.00N/AN/A121,06198,335902,990988,973
2009-03-26$29.10$24.0086.8%24.9%156.8%43.9%93.9%24.3%-0.2%10.5M-894.1M-8.6M0.975.17N/AN/A106,111102,565933,3781,015,523
2009-03-27$27.40$24.0094.5%27.1%158.7%49.6%94.5%24.4%-3.2%8.2M-626.5M-8.5M1.013.90N/AN/A63,44464,292952,0361,049,345
2009-03-30$24.85$24.00111.9%32.1%160.4%62.7%110.0%32.3%-9.8%5.0M-282.7M-7.8M0.963.94N/AN/A83,43980,520961,5391,051,936
2009-03-31$26.58$24.00102.2%29.3%161.6%55.4%101.5%28.7%-8.2%7.2M-482.8M-8.2M0.854.09N/AN/A78,63767,022960,4991,067,072