JPM Options History — May 2009

In May 2009, JPM traded between $32.49 and $38.94. ATM implied volatility averaged 60.5%, placing in the 22.6% IV rank vs the trailing year. The 30-day expected move averaged 17.0%. IV traded below realized volatility by 31.9% (HV 20d: 92.4%). Max pain ranged from $27.50 to $31.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.98.

Notable Days

  • 2009-05-07: Highest Volume — 243,430 contracts
  • 2009-05-11: Largest IV spike — 18.9% change
  • 2009-05-01: Highest IV Rank — 32.6%
  • 2009-05-01: Largest Expected Move — 20.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$35.59$32.49$38.94$32.49$36.90
Max Pain$29.57$27.50$31.00$31.00$30.00
ATM IV60.5%51.1%71.8%71.8%51.1%
Expected Move17.0%14.7%20.6%20.6%14.7%
HV 20d92.4%81.7%107.7%100.6%85.2%
HV 60d120.1%117.1%123.3%121.8%117.1%
IV Rank22.6%13.7%32.6%32.6%13.7%
IV Percentile31.2%18.3%44.0%44.0%18.3%
Term Structure-0.4%-6.4%5.3%-3.7%4.7%
VWIV60.6%53.1%73.0%73.0%53.5%
Skew 25d9.3%7.0%14.1%11.1%7.4%
Skew 10d19.1%13.3%33.7%20.6%13.3%
Call IV 25d55.3%48.6%66.6%66.6%48.6%
Put IV 25d64.7%56.0%77.7%77.7%56.0%
Bid-Ask Spread %3.132.285.733.662.28
Gamma HHI0.140.100.690.100.10
Net GEX19.9M11.0M88.0M11.0M19.1M
Net DEX-1.46B-2.34B-927.8M-927.8M-1.65B
Net VEX-10.3M-10.7M-9.4M-10.4M-10.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.980.651.690.950.65
Total Volume136,858.337,203243,430102,48063,815
Total OI2,277,234.42,099,5992,467,7512,194,5192,285,021

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-05-01$32.49$31.0071.8%20.6%100.6%32.6%73.0%11.1%-3.7%11.0M-927.8M-10.4M0.953.66N/AN/A52,55449,9261,045,7291,148,790
2009-05-04$35.79$27.5066.8%17.5%105.0%28.2%68.0%14.1%-1.2%19.0M-1.62B-10.6M1.075.73N/AN/A71,96277,3221,057,7281,145,253
2009-05-05$34.82$27.5069.9%18.6%104.4%30.5%69.0%12.7%-2.8%16.5M-1.43B-10.5M1.393.61N/AN/A53,71474,7131,065,7191,157,144
2009-05-06$37.22$27.5063.5%17.1%104.8%25.7%60.9%11.2%-2.3%20.5M-1.92B-10.5M0.714.56N/AN/A113,86080,5781,071,0331,184,742
2009-05-07$35.24$29.0071.3%19.1%107.7%31.6%65.8%12.6%-4.9%16.9M-1.49B-9.4M1.183.49N/AN/A111,858131,5721,094,8241,206,502
2009-05-08$38.94$29.0058.0%16.7%94.8%21.5%60.4%9.5%-3.9%21.7M-2.34B-10.4M0.792.31N/AN/A127,606100,3401,120,9071,251,959
2009-05-11$35.83$30.0068.9%18.9%99.8%29.8%67.3%10.7%-6.4%17.6M-1.64B-10.5M0.913.17N/AN/A95,27386,8751,132,4011,266,229
2009-05-12$35.36$30.0064.4%18.8%93.4%26.4%67.2%9.2%-5.2%16.4M-1.49B-10.7M0.802.82N/AN/A123,05298,6091,149,0371,284,502
2009-05-13$34.05$30.0069.7%19.7%92.6%30.4%68.8%9.1%-5.5%12.5M-1.17B-10.5M1.172.75N/AN/A61,20871,6981,151,4721,282,526
2009-05-14$35.54$30.0062.1%17.8%93.5%24.6%64.1%8.2%-1.8%18.6M-1.57B-10.6M1.023.27N/AN/A66,91968,3961,161,2181,292,745
2009-05-15$34.91$30.0060.7%17.4%93.8%23.6%60.6%8.2%-0.3%88.0M-1.41B-10.5M0.822.38N/AN/A83,34668,5141,164,8251,302,926
2009-05-18$37.26$30.0051.6%14.8%85.6%16.7%53.4%7.5%5.3%16.1M-1.59B-10.3M0.823.50N/AN/A66,60654,901998,1751,101,424
2009-05-19$35.81$30.0054.3%15.6%81.9%18.6%54.9%8.2%3.2%14.7M-1.37B-10.4M0.982.49N/AN/A45,05944,0671,020,5561,119,970
2009-05-20$34.55$30.0053.1%15.2%82.8%15.2%53.1%7.0%3.1%12.6M-1.10B-10.1M0.922.97N/AN/A83,34276,9051,032,0891,133,317
2009-05-21$34.90$30.0055.4%15.9%81.7%17.0%55.9%7.5%3.1%14.1M-1.21B-10.2M0.802.70N/AN/A38,12030,4251,050,2761,144,332
2009-05-22$34.41$30.0054.3%15.6%81.9%16.2%53.7%8.1%3.4%13.4M-1.12B-10.1M1.092.47N/AN/A17,82519,3781,053,8241,147,190
2009-05-26$36.54$30.0053.4%15.3%84.1%15.5%53.3%8.0%2.0%18.0M-1.51B-10.2M1.692.72N/AN/A44,94176,0761,057,0561,152,305
2009-05-27$34.66$30.0055.5%15.9%86.6%17.1%54.9%8.2%2.9%14.1M-1.16B-10.1M0.883.26N/AN/A56,19449,3661,069,2921,182,653
2009-05-28$36.65$30.0054.7%15.7%87.0%16.4%55.1%7.9%2.2%17.9M-1.55B-10.4M0.972.53N/AN/A50,84249,4091,077,4641,181,533
2009-05-29$36.90$30.0051.1%14.7%85.2%13.7%53.5%7.4%4.7%19.1M-1.65B-10.3M0.652.28N/AN/A38,76125,0541,087,5731,197,448