JPM Options History — November 2009

In November 2009, JPM traded between $41.33 and $44.35. ATM implied volatility averaged 35.1%, placing in the 4.6% IV rank vs the trailing year. The 30-day expected move averaged 10.2%. IV traded below realized volatility by 2.4% (HV 20d: 37.5%). Max pain ranged from $40.00 to $44.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 18 of 20 days. Put/call ratio averaged 0.90.

Notable Days

  • 2009-11-02: Highest Volume — 168,336 contracts
  • 2009-11-27: Largest IV spike — 14.0% change
  • 2009-11-02: Highest IV Rank — 10.2%
  • 2009-11-02: Largest Expected Move — 12.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$43.01$41.33$44.35$42.58$42.49
Max Pain$41.20$40.00$44.00$44.00$41.00
ATM IV35.1%29.9%42.7%42.7%32.1%
Expected Move10.2%8.6%12.2%12.2%9.2%
HV 20d37.5%26.9%40.8%39.3%26.9%
HV 60d36.7%35.4%38.1%38.1%35.4%
IV Rank4.6%0.7%10.2%10.2%2.5%
IV Percentile10.1%0.8%25.4%25.4%4.4%
Term Structure2.8%-0.2%4.6%-0.2%3.8%
VWIV35.5%30.3%43.9%43.9%32.1%
Skew 25d5.5%3.0%8.6%8.6%3.7%
Skew 10d11.8%5.9%21.3%21.3%7.1%
Call IV 25d33.2%28.6%40.1%40.1%30.3%
Put IV 25d38.7%31.8%48.7%48.7%34.0%
Bid-Ask Spread %3.252.594.033.323.21
Gamma HHI0.100.070.110.110.09
Net GEX27.2M14.0M42.2M25.9M22.4M
Net DEX-1.36B-1.85B-922.5M-1.24B-1.37B
Net VEX-10.7M-12.3M-9.1M-11.9M-9.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.900.651.171.010.83
Total Volume99,198.4560,946168,336168,33675,212
Total OI2,334,490.952,199,9872,459,0182,249,4272,311,821

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-11-02$42.58$44.0042.7%12.2%39.3%10.2%43.9%8.6%-0.2%25.9M-1.24B-11.9M1.013.32N/AN/A83,84584,4911,165,0961,084,331
2009-11-03$42.70$44.0041.6%11.9%38.1%9.5%42.7%7.1%-0.0%26.2M-1.29B-11.7M0.973.14N/AN/A59,08757,0361,166,4981,098,372
2009-11-04$42.21$44.0041.4%11.9%37.5%9.3%40.7%6.7%0.3%24.1M-1.06B-12.3M1.174.03N/AN/A50,77159,1791,184,9591,108,386
2009-11-05$43.87$44.0036.4%10.4%40.3%5.5%37.4%5.8%1.3%35.9M-1.69B-11.7M0.653.57N/AN/A40,30426,0321,189,7901,123,912
2009-11-06$43.48$40.0036.1%11.0%40.1%5.3%36.8%7.0%2.7%32.8M-1.48B-11.8M1.003.33N/AN/A39,01238,8441,191,0451,128,109
2009-11-09$44.35$40.0034.5%10.4%40.8%4.1%36.8%6.4%2.7%42.2M-1.85B-10.9M1.153.30N/AN/A50,87058,5981,192,0911,138,473
2009-11-10$44.17$40.0033.7%9.9%40.7%3.5%34.7%5.7%3.6%39.6M-1.70B-11.3M1.053.21N/AN/A54,43257,3491,191,2721,148,361
2009-11-11$44.32$40.0033.7%10.1%38.7%3.4%34.7%6.0%3.2%41.2M-1.82B-10.7M0.762.96N/AN/A52,95240,2881,191,9961,172,685
2009-11-12$43.30$40.0036.9%10.6%39.4%5.8%36.5%6.0%2.7%30.8M-1.40B-11.0M0.813.63N/AN/A55,23444,9171,202,5471,173,300
2009-11-13$42.90$40.0035.6%10.2%38.8%4.9%35.7%5.7%3.1%24.3M-1.17B-11.6M0.703.62N/AN/A60,01342,1661,204,6921,181,233
2009-11-16$43.04$40.0035.6%10.2%38.8%4.9%35.5%5.7%3.0%25.4M-1.22B-11.2M0.803.33N/AN/A51,29141,0781,208,0661,190,834
2009-11-17$43.16$40.0034.5%9.9%38.9%4.1%34.5%5.3%3.2%28.9M-1.35B-10.8M0.862.95N/AN/A55,54647,5501,218,1261,199,970
2009-11-18$43.38$41.0034.0%9.7%37.6%3.7%34.4%5.3%3.5%33.5M-1.42B-10.7M0.873.62N/AN/A33,94929,5681,223,4231,214,266
2009-11-19$42.55$41.0034.4%9.9%36.9%4.0%35.0%5.1%3.5%16.1M-1.11B-10.0M1.083.44N/AN/A52,19256,4681,225,4901,220,277
2009-11-20$42.46$41.0033.8%9.7%36.8%3.5%33.7%4.9%3.1%14.5M-1.05B-9.4M1.002.74N/AN/A65,12864,9941,227,3901,231,628
2009-11-23$43.28$41.0031.0%8.9%36.0%1.4%30.7%4.6%3.6%26.6M-1.53B-9.4M0.693.11N/AN/A66,12645,7821,079,2131,120,774
2009-11-24$42.48$41.0030.2%8.7%36.5%0.9%30.3%3.9%4.6%21.1M-1.25B-9.8M0.833.19N/AN/A33,30327,6431,098,0991,136,389
2009-11-25$42.16$41.0029.9%8.6%35.3%0.7%30.4%3.0%4.2%19.1M-1.22B-9.1M0.852.59N/AN/A60,10450,9201,101,8111,145,629
2009-11-27$41.33$41.0034.1%9.8%32.7%4.1%33.7%3.9%3.3%14.0M-922.5M-10.0M0.902.76N/AN/A37,80233,8931,133,9431,165,522
2009-11-30$42.49$41.0032.1%9.2%26.9%2.5%32.1%3.7%3.8%22.4M-1.37B-9.3M0.833.21N/AN/A41,13734,0751,136,2421,175,579