JPM Options History — July 2009

In July 2009, JPM traded between $32.34 and $38.65. ATM implied volatility averaged 45.3%, placing in the 6.4% IV rank vs the trailing year. The 30-day expected move averaged 12.0%. IV traded above realized volatility by 3.6% (HV 20d: 41.7%). Max pain ranged from $32.00 to $35.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 0.83.

Notable Days

  • 2009-07-15: Highest Volume — 348,071 contracts
  • 2009-07-16: Largest IV drop — 29.1% change
  • 2009-07-13: Highest IV Rank — 21.0%
  • 2009-07-08: Largest Expected Move — 15.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$35.77$32.34$38.65$33.77$38.65
Max Pain$33.95$32.00$35.00$34.00$35.00
ATM IV45.3%29.6%65.8%45.3%29.6%
Expected Move12.0%8.5%15.9%13.0%8.5%
HV 20d41.7%36.4%49.4%40.4%36.4%
HV 60d64.4%54.1%78.5%78.4%54.1%
IV Rank6.4%0.0%21.0%4.0%0.0%
IV Percentile11.8%0.0%36.1%4.0%0.0%
Term Structure1.4%-1.4%5.3%-0.3%4.1%
VWIV42.1%30.1%55.2%45.5%30.1%
Skew 25d6.4%3.0%9.2%6.1%3.0%
Skew 10d12.8%5.2%18.7%12.4%5.2%
Call IV 25d39.2%29.0%51.8%43.1%29.0%
Put IV 25d45.5%32.0%60.5%49.2%32.0%
Bid-Ask Spread %2.851.974.222.912.68
Gamma HHI0.120.080.270.090.13
Net GEX25.1M9.3M46.5M14.8M35.0M
Net DEX-1.07B-1.64B-321.3M-560.0M-1.64B
Net VEX-9.6M-10.2M-8.7M-9.0M-9.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.830.481.420.801.42
Total Volume122,595.68248,303348,07148,30360,036
Total OI2,005,581.51,854,3212,190,4661,854,3212,070,497

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-07-01$33.77$34.0045.3%13.0%40.4%4.0%45.5%6.1%-0.3%14.8M-560.0M-9.0M0.802.91N/AN/A26,83221,471956,071898,250
2009-07-02$32.57$34.0049.4%14.2%39.5%7.4%49.8%6.0%-0.8%9.3M-331.1M-9.1M0.963.96N/AN/A46,86245,061960,181904,392
2009-07-06$32.60$34.0055.4%14.2%38.8%12.4%50.2%7.7%-0.4%9.3M-334.7M-8.7M0.601.97N/AN/A81,18348,879971,815919,158
2009-07-07$32.81$32.0059.8%15.1%37.7%16.0%52.5%8.6%-1.1%12.6M-442.6M-9.0M0.682.20N/AN/A74,95850,6721,003,868935,853
2009-07-08$32.71$32.0062.7%15.9%37.7%18.4%55.2%8.7%-1.4%12.3M-452.1M-9.4M0.833.97N/AN/A69,49957,9831,024,020941,181
2009-07-09$33.62$32.0056.2%14.5%39.1%13.1%49.8%9.1%-0.1%16.9M-619.1M-9.3M0.492.06N/AN/A61,79730,5111,033,131951,004
2009-07-10$32.34$32.0060.9%15.0%41.2%16.9%51.5%9.2%-1.0%12.1M-321.3M-8.9M0.512.48N/AN/A98,60750,0331,061,396962,381
2009-07-13$34.71$33.0065.8%13.9%49.0%21.0%48.7%8.1%-1.2%27.8M-960.9M-9.7M0.482.31N/AN/A121,07058,6511,110,486974,623
2009-07-14$34.70$33.0053.6%12.9%47.5%10.9%46.1%7.7%0.0%32.2M-972.3M-9.1M0.622.06N/AN/A85,69053,2691,117,998986,244
2009-07-15$36.26$33.0060.8%12.8%49.4%16.8%44.6%6.6%-1.1%39.5M-1.43B-9.5M0.723.54N/AN/A202,253145,8181,121,307991,499
2009-07-16$36.13$34.0043.1%12.4%48.5%2.2%43.5%6.7%0.7%44.6M-1.39B-9.8M0.672.39N/AN/A151,030101,6051,163,1281,027,338
2009-07-17$36.89$34.0038.4%11.0%46.8%0.0%39.2%5.7%2.2%46.5M-1.57B-9.8M0.562.67N/AN/A126,25070,9101,149,7391,024,799
2009-07-20$36.98$35.0037.8%10.8%46.2%0.0%38.3%5.8%2.4%23.3M-1.24B-9.7M1.213.20N/AN/A51,80562,545987,251907,439
2009-07-21$36.94$35.0035.9%10.3%39.2%0.0%36.1%5.3%2.6%24.1M-1.22B-9.6M1.082.49N/AN/A30,52333,0481,005,715934,019
2009-07-22$36.83$35.0034.9%10.0%38.9%0.0%35.3%5.0%3.1%23.9M-1.18B-9.6M0.873.16N/AN/A39,39034,1671,012,251942,213
2009-07-23$38.15$35.0035.8%10.3%40.2%0.7%36.4%5.7%3.4%26.5M-1.48B-10.2M0.752.64N/AN/A83,42362,8971,016,652946,447
2009-07-24$37.92$35.0035.4%10.1%40.1%0.3%36.0%5.6%3.7%26.6M-1.47B-10.0M1.082.13N/AN/A30,62533,1671,035,366967,262
2009-07-27$38.13$35.0034.4%9.9%40.1%0.0%34.8%5.0%3.4%27.8M-1.47B-10.2M1.023.26N/AN/A35,39836,0501,039,210967,336
2009-07-28$38.08$35.0035.0%10.0%40.2%0.5%35.7%5.2%3.8%27.6M-1.48B-10.2M1.303.17N/AN/A25,29832,8481,046,258974,130
2009-07-29$37.77$35.0033.1%9.5%39.9%0.0%33.4%5.2%5.3%27.6M-1.43B-10.0M0.793.25N/AN/A39,85331,5611,052,015984,977
2009-07-30$38.47$35.0033.1%9.5%39.7%0.0%32.8%4.2%4.3%31.5M-1.61B-9.8M0.794.22N/AN/A52,29541,2821,059,143984,750
2009-07-31$38.65$35.0029.6%8.5%36.4%0.0%30.1%3.0%4.1%35.0M-1.64B-9.7M1.422.68N/AN/A24,81435,2221,076,941993,556