JPM Options History — April 2009

In April 2009, JPM traded between $27.25 and $34.48. ATM implied volatility averaged 80.5%, placing in the 39.1% IV rank vs the trailing year. The 30-day expected move averaged 23.1%. IV traded below realized volatility by 47.0% (HV 20d: 127.5%). Max pain ranged from $24.00 to $31.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 1.08.

Notable Days

  • 2009-04-09: Highest Volume — 416,438 contracts
  • 2009-04-20: Largest IV spike — 23.3% change
  • 2009-04-01: Highest IV Rank — 51.0%
  • 2009-04-01: Largest Expected Move — 27.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$31.35$27.25$34.48$28.14$33.00
Max Pain$29.29$24.00$31.00$24.00$31.00
ATM IV80.5%67.1%96.3%96.3%69.7%
Expected Move23.1%19.2%27.6%27.6%20.0%
HV 20d127.5%99.7%158.2%158.2%100.2%
HV 60d128.8%120.7%138.2%133.8%121.8%
IV Rank39.1%29.1%51.0%51.0%31.1%
IV Percentile58.7%39.7%78.2%78.2%42.5%
Term Structure-3.4%-7.1%0.5%-4.6%-1.2%
VWIV81.4%68.3%97.1%97.1%69.4%
Skew 25d17.5%10.4%26.6%26.6%10.4%
Skew 10d35.3%19.8%52.7%52.7%19.8%
Call IV 25d72.0%61.4%81.9%81.9%65.0%
Put IV 25d89.5%72.8%108.4%108.4%75.4%
Bid-Ask Spread %3.182.503.853.383.41
Gamma HHI0.120.070.150.120.10
Net GEX12.7M5.6M21.5M9.7M11.8M
Net DEX-1.13B-1.90B-545.3M-716.7M-1.03B
Net VEX-9.9M-10.5M-8.7M-8.7M-10.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.080.691.920.981.65
Total Volume190,097.71491,604416,438194,972131,314
Total OI2,209,493.1431,892,8102,581,2982,070,8062,173,356

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-04-01$28.14$24.0096.3%27.6%158.2%51.0%97.1%26.6%-4.6%9.7M-716.7M-8.7M0.983.38N/AN/A98,29996,673980,5851,090,221
2009-04-02$28.16$25.0093.2%26.7%145.2%48.6%92.4%22.6%-3.6%9.7M-742.8M-9.1M0.863.55N/AN/A117,745101,2911,004,6481,137,007
2009-04-03$29.28$28.0078.5%23.3%143.0%37.7%82.6%20.8%-1.1%13.2M-948.2M-9.5M1.073.50N/AN/A63,18167,9121,038,1881,166,453
2009-04-06$28.20$28.0086.5%24.1%144.7%43.6%82.8%20.9%0.5%11.9M-776.4M-9.3M1.462.50N/AN/A51,92175,8971,050,6111,188,444
2009-04-07$27.25$28.0087.7%25.4%130.4%44.5%86.8%20.7%-2.7%9.2M-563.9M-9.1M1.923.51N/AN/A49,86395,6731,054,6981,202,942
2009-04-08$27.43$28.0084.6%25.1%130.0%42.2%85.5%21.3%-3.1%9.4M-554.4M-9.2M0.852.97N/AN/A61,15051,7991,064,5591,239,364
2009-04-09$32.75$28.0081.6%23.4%136.6%40.0%85.6%22.4%-3.7%16.6M-1.71B-10.1M0.813.02N/AN/A230,450185,9881,076,8221,240,362
2009-04-13$33.70$30.0086.0%24.7%136.6%43.3%87.6%19.8%-5.7%16.7M-1.90B-10.2M0.942.60N/AN/A183,653173,1371,119,1881,278,582
2009-04-14$30.70$30.0089.0%25.5%141.4%45.5%91.2%18.5%-7.1%17.2M-1.26B-10.1M0.692.72N/AN/A122,63585,0151,163,8721,312,453
2009-04-15$32.56$30.0082.2%23.6%139.9%40.4%84.0%16.3%-5.0%19.7M-1.70B-10.3M0.893.75N/AN/A173,597154,6561,183,6551,315,445
2009-04-16$33.24$30.0075.4%21.6%138.0%35.3%77.1%16.0%-3.0%21.5M-1.88B-9.9M0.743.69N/AN/A175,755129,7301,190,9641,332,137
2009-04-17$33.26$30.0069.2%19.8%133.7%30.7%70.0%13.9%-3.2%16.3M-1.86B-9.8M0.712.79N/AN/A112,46679,7381,225,1951,356,103
2009-04-20$29.69$30.0085.3%24.5%137.7%42.8%84.6%17.1%-5.3%5.6M-545.3M-9.4M1.373.13N/AN/A75,654103,272902,732990,078
2009-04-21$32.53$30.0078.6%22.5%118.1%37.8%81.0%15.5%-3.8%8.5M-935.4M-10.1M1.023.69N/AN/A92,15494,103916,0541,023,125
2009-04-22$31.90$30.0078.7%22.6%113.1%37.8%78.6%16.3%-3.8%8.8M-885.9M-10.1M0.992.55N/AN/A76,58476,202941,5621,032,887
2009-04-23$33.21$31.0074.7%21.4%110.7%34.8%75.3%14.6%-2.3%10.8M-1.08B-10.3M0.962.73N/AN/A68,25065,527961,1601,047,474
2009-04-24$33.38$31.0074.9%21.5%110.6%35.0%75.2%15.5%-5.2%12.1M-1.15B-10.4M0.963.85N/AN/A78,61675,405984,9521,064,248
2009-04-27$32.78$31.0077.0%22.1%108.2%36.5%78.6%14.1%-3.4%11.6M-1.06B-10.4M1.212.71N/AN/A47,01256,7541,005,6971,082,940
2009-04-28$32.79$31.0073.6%21.1%100.7%34.0%74.5%13.3%-2.1%11.6M-1.02B-10.5M1.492.84N/AN/A36,73754,8671,018,6631,106,858
2009-04-29$34.48$31.0067.1%19.2%99.7%29.1%68.3%11.4%-1.9%14.3M-1.30B-10.5M1.173.84N/AN/A56,04765,3301,016,2071,118,865
2009-04-30$33.00$31.0069.7%20.0%100.2%31.1%69.4%10.4%-1.2%11.8M-1.03B-10.4M1.653.41N/AN/A49,46381,8511,035,3241,138,032