JPM Options History — August 2009

In August 2009, JPM traded between $39.60 and $43.66. ATM implied volatility averaged 37.4%, placing in the 5.9% IV rank vs the trailing year. The 30-day expected move averaged 10.8%. IV traded above realized volatility by 2.0% (HV 20d: 35.3%). Max pain ranged from $34.00 to $36.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 1.09.

Notable Days

  • 2009-08-07: Highest Volume — 216,675 contracts
  • 2009-08-05: Largest IV spike — 12.6% change
  • 2009-08-17: Highest IV Rank — 10.8%
  • 2009-08-17: Largest Expected Move — 12.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$42.18$39.60$43.66$39.60$43.46
Max Pain$35.33$34.00$36.00$36.00$36.00
ATM IV37.4%32.7%43.9%32.7%33.8%
Expected Move10.8%9.4%12.6%9.4%9.7%
HV 20d35.3%29.3%39.4%36.7%36.5%
HV 60d43.4%37.6%53.0%53.0%37.6%
IV Rank5.9%2.4%10.8%2.4%3.2%
IV Percentile5.2%0.4%10.3%0.4%2.8%
Term Structure2.3%-0.9%6.8%2.8%6.8%
VWIV38.7%33.2%45.0%33.7%35.3%
Skew 25d5.0%2.0%6.7%3.3%4.7%
Skew 10d10.1%2.9%14.3%6.2%9.4%
Call IV 25d35.9%31.8%41.1%31.8%32.6%
Put IV 25d40.8%34.6%47.7%35.1%37.3%
Bid-Ask Spread %2.622.083.182.982.63
Gamma HHI0.130.100.140.140.13
Net GEX35.4M30.6M38.5M36.0M32.9M
Net DEX-2.50B-3.07B-1.93B-1.93B-2.46B
Net VEX-9.9M-10.9M-9.0M-9.4M-10.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.090.371.891.051.16
Total Volume117,661.04858,176216,675109,16864,441
Total OI2,230,201.7622,056,2812,359,1562,080,2852,180,301

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-08-03$39.60$36.0032.7%9.4%36.7%2.4%33.7%3.3%2.8%36.0M-1.93B-9.4M1.052.98N/AN/A53,16156,0071,077,4221,002,863
2009-08-04$40.21$36.0033.0%9.5%36.7%2.6%33.2%2.8%3.6%37.2M-2.15B-9.0M0.372.80N/AN/A95,92335,8451,089,7691,009,126
2009-08-05$41.78$36.0037.1%10.6%37.7%5.7%38.0%2.0%1.9%38.0M-2.55B-9.9M0.713.18N/AN/A126,13889,4431,118,2851,013,582
2009-08-06$40.75$36.0038.5%11.0%39.4%6.7%38.9%2.8%2.9%37.0M-2.29B-9.9M1.132.88N/AN/A93,433105,5251,137,5201,035,536
2009-08-07$42.36$34.0037.2%11.3%36.2%5.8%40.3%4.4%1.6%37.6M-2.68B-9.8M1.032.77N/AN/A106,887109,7881,140,6621,060,514
2009-08-10$42.69$35.0037.8%11.5%29.3%6.2%40.8%4.5%-0.9%36.8M-2.80B-9.3M1.262.37N/AN/A70,48788,6681,159,1181,097,887
2009-08-11$41.24$35.0038.6%11.8%33.2%6.8%41.4%5.0%-0.2%34.5M-2.39B-10.0M1.892.41N/AN/A44,79884,6241,184,6781,132,849
2009-08-12$42.21$35.0037.6%11.4%31.0%6.1%40.7%5.2%0.2%36.9M-2.69B-9.9M1.032.79N/AN/A38,66039,7631,189,3931,133,738
2009-08-13$42.90$35.0040.0%11.5%30.9%7.8%40.6%5.1%-0.4%36.3M-2.87B-10.1M1.152.15N/AN/A43,03049,5111,189,6501,136,539
2009-08-14$42.45$35.0039.6%11.3%31.2%7.5%40.2%5.0%0.1%35.1M-2.75B-9.8M0.942.08N/AN/A46,45043,4511,190,2591,139,521
2009-08-17$40.73$35.0043.9%12.6%35.6%10.8%45.0%6.6%-0.9%33.2M-2.21B-10.1M1.222.27N/AN/A56,01668,5381,196,2891,141,220
2009-08-18$41.70$35.0042.3%12.1%36.2%9.6%41.3%6.6%-0.4%36.2M-2.48B-10.0M0.822.61N/AN/A64,88153,4051,197,7161,145,147
2009-08-19$41.41$35.0040.1%11.5%36.3%7.9%40.1%6.4%1.6%35.3M-2.43B-9.9M1.202.61N/AN/A38,37646,1041,204,6011,154,555
2009-08-20$42.42$35.0038.3%11.0%35.3%6.6%39.3%5.6%2.5%36.8M-2.77B-9.4M0.802.83N/AN/A61,32248,9521,194,2751,146,242
2009-08-21$43.66$35.0036.7%10.5%36.0%5.4%38.7%5.5%2.9%38.5M-3.07B-10.2M0.822.81N/AN/A68,39756,3221,199,0721,155,407
2009-08-24$43.01$35.0039.5%11.3%36.8%7.5%39.8%6.7%2.8%30.6M-2.33B-9.9M0.962.59N/AN/A69,80467,1381,036,3961,019,885
2009-08-25$43.58$35.0035.8%10.3%36.8%4.7%37.0%6.2%4.4%32.2M-2.49B-10.0M1.332.20N/AN/A29,21138,7241,064,9861,046,485
2009-08-26$43.30$36.0033.7%9.7%36.7%3.1%38.0%5.7%6.1%36.3M-2.44B-10.9M1.403.01N/AN/A33,68747,2221,146,9571,067,094
2009-08-27$43.45$36.0033.5%9.6%36.5%3.0%35.9%5.4%6.5%33.0M-2.45B-10.0M1.142.48N/AN/A27,15531,0211,079,3041,062,166
2009-08-28$42.92$36.0035.0%10.0%37.1%4.1%35.1%5.0%4.6%32.3M-2.33B-10.1M1.492.63N/AN/A31,57147,0031,086,7951,070,433
2009-08-31$43.46$36.0033.8%9.7%36.5%3.2%35.3%4.7%6.8%32.9M-2.46B-10.4M1.162.63N/AN/A29,82034,6211,095,7011,084,600