JPM Options History — December 2009

In December 2009, JPM traded between $40.27 and $42.22. ATM implied volatility averaged 31.4%, placing in the 2.0% IV rank vs the trailing year. The 30-day expected move averaged 9.2%. IV traded above realized volatility by 8.7% (HV 20d: 22.7%). Max pain ranged from $39.00 to $41.00. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 16 of 22 days. Put/call ratio averaged 0.79.

Notable Days

  • 2009-12-11: Highest Volume — 283,195 contracts
  • 2009-12-10: Largest IV spike — 15.8% change
  • 2009-12-17: Highest IV Rank — 4.9%
  • 2009-12-17: Largest Expected Move — 10.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$41.46$40.27$42.22$42.22$41.67
Max Pain$39.50$39.00$41.00$41.00$40.00
ATM IV31.4%28.7%35.1%30.4%32.3%
Expected Move9.2%8.2%10.1%8.7%9.3%
HV 20d22.7%19.3%26.3%26.1%20.5%
HV 60d33.5%28.7%35.5%35.4%28.7%
IV Rank2.0%0.0%4.9%1.1%3.0%
IV Percentile6.2%0.0%18.3%2.8%10.7%
Term Structure1.0%-1.9%3.5%3.4%-1.3%
VWIV32.6%29.3%35.6%31.0%32.8%
Skew 25d4.1%3.1%5.6%3.1%3.3%
Skew 10d8.3%5.9%11.9%6.3%5.9%
Call IV 25d30.6%27.6%33.1%29.1%31.4%
Put IV 25d34.6%30.9%38.0%32.2%34.7%
Bid-Ask Spread %2.652.023.292.482.39
Gamma HHI0.080.080.120.090.08
Net GEX13.9M-7.0M26.0M13.2M25.0M
Net DEX-1.10B-1.41B-458.2M-886.1M-1.35B
Net VEX-10.5M-13.0M-8.5M-10.5M-10.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.790.201.371.370.20
Total Volume108,758.63634,718283,195125,908143,644
Total OI2,418,221.7272,196,8712,732,6782,329,5552,277,563

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-12-01$42.22$41.0030.4%8.7%26.1%1.1%31.0%3.1%3.4%13.2M-886.1M-10.5M1.372.48N/AN/A53,06672,8421,141,3931,188,162
2009-12-02$41.93$41.0030.2%8.7%26.2%0.9%30.6%3.4%3.5%15.8M-1.13B-9.2M0.462.09N/AN/A68,49031,5761,149,6411,199,877
2009-12-03$41.40$41.0033.1%9.5%26.3%3.3%32.5%3.1%2.2%13.5M-1.02B-9.3M0.532.62N/AN/A84,96145,0901,171,2501,202,335
2009-12-04$41.74$39.0029.8%9.8%22.1%0.6%34.9%4.7%1.5%12.8M-1.01B-9.3M0.882.94N/AN/A54,44348,1021,148,0361,219,660
2009-12-07$41.25$39.0030.6%9.9%22.2%1.2%35.6%4.8%1.4%7.2M-762.3M-9.9M1.042.46N/AN/A30,45131,5251,153,7461,227,282
2009-12-08$41.21$39.0030.9%10.0%20.6%1.5%35.3%5.1%1.7%7.2M-875.6M-8.6M0.973.29N/AN/A71,52769,4851,159,3611,237,284
2009-12-09$41.19$39.0030.0%10.0%20.6%0.7%35.2%5.6%1.5%6.3M-820.5M-9.2M0.432.79N/AN/A126,24854,1761,184,0091,251,021
2009-12-10$41.27$39.0034.7%10.0%20.6%4.6%35.4%5.5%1.3%11.0M-1.00B-9.8M1.122.75N/AN/A38,06042,6581,244,9851,261,022
2009-12-11$40.96$39.0033.5%9.6%19.3%3.7%34.1%5.1%1.6%-1.2M-816.5M-9.6M0.242.48N/AN/A228,33854,8571,253,5091,280,533
2009-12-14$41.77$39.0031.6%9.1%20.7%2.0%32.3%4.5%1.9%11.8M-1.41B-11.8M0.832.71N/AN/A55,26545,6191,427,2421,305,436
2009-12-15$40.86$39.0034.4%9.9%21.8%4.4%35.1%4.7%0.9%6.4M-1.08B-11.3M0.842.74N/AN/A55,02545,9991,418,0101,293,792
2009-12-16$41.36$39.0033.0%9.5%22.4%3.2%33.2%4.3%1.7%13.0M-1.36B-11.1M0.853.08N/AN/A58,12649,1661,422,9431,283,815
2009-12-17$40.27$39.0035.1%10.1%23.8%4.9%34.8%4.3%1.1%-7.0M-458.2M-11.2M0.662.51N/AN/A73,07048,5041,423,7191,286,074
2009-12-18$40.95$39.0031.5%9.0%24.1%2.0%32.7%4.2%3.4%2.5M-1.21B-11.4M0.703.17N/AN/A103,37472,0241,443,1931,285,760
2009-12-21$41.90$39.0028.7%8.2%25.7%0.0%29.3%3.6%2.0%22.3M-1.17B-8.5M0.542.80N/AN/A56,60730,6351,164,1471,032,724
2009-12-22$41.94$39.0029.0%8.3%24.6%0.2%29.8%3.5%0.7%25.4M-1.25B-13.0M1.002.49N/AN/A37,25937,2621,171,8771,037,742
2009-12-23$41.56$39.0029.8%8.5%24.0%0.9%30.6%3.3%-0.1%26.0M-1.36B-11.1M1.052.63N/AN/A35,79337,5111,184,3171,051,679
2009-12-24$41.89$40.0028.9%8.3%24.0%0.2%29.4%3.1%-1.1%25.4M-1.41B-11.2M0.902.53N/AN/A22,92620,6081,180,0571,062,867
2009-12-28$41.72$40.0031.7%9.1%23.0%2.5%32.1%3.5%-1.9%22.3M-1.30B-12.8M0.912.65N/AN/A30,12827,4981,181,5741,066,365
2009-12-29$41.49$40.0031.0%8.9%20.7%1.9%30.7%3.1%-1.6%23.1M-1.32B-11.0M0.852.02N/AN/A18,76915,9491,186,4961,072,907
2009-12-30$41.53$40.0030.3%8.7%20.6%1.3%30.8%3.2%-1.2%22.8M-1.26B-11.1M1.012.70N/AN/A32,90633,1281,190,3851,077,088
2009-12-31$41.67$40.0032.3%9.3%20.5%3.0%32.8%3.3%-1.3%25.0M-1.35B-10.8M0.202.39N/AN/A119,78323,8611,191,4521,086,111