JPM Options History — November 2010

In November 2010, JPM traded between $36.96 and $40.94. ATM implied volatility averaged 28.1%, placing in the 24.2% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded below realized volatility by 2.3% (HV 20d: 30.4%). Max pain ranged from $38.00 to $39.00. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 21 of 21 days. Put/call ratio averaged 0.80.

Notable Days

  • 2010-11-05: Highest Volume — 276,329 contracts
  • 2010-11-03: Largest IV drop — 15.1% change
  • 2010-11-30: Highest IV Rank — 36.7%
  • 2010-11-30: Largest Expected Move — 9.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$38.98$36.96$40.94$37.42$37.40
Max Pain$38.81$38.00$39.00$38.00$39.00
ATM IV28.1%25.1%32.4%30.5%32.4%
Expected Move8.1%7.4%9.3%8.7%9.3%
HV 20d30.4%25.2%34.6%26.0%31.9%
HV 60d29.5%27.9%30.2%27.9%28.7%
IV Rank24.2%15.6%36.7%31.2%36.7%
IV Percentile25.3%6.3%62.7%38.5%62.7%
Term Structure1.7%0.1%3.2%0.4%0.3%
VWIV29.3%26.8%32.1%31.9%32.1%
Skew 25d3.6%1.9%6.3%6.3%3.4%
Skew 10d8.1%4.3%14.4%14.4%6.5%
Call IV 25d27.4%24.6%30.9%27.2%30.9%
Put IV 25d31.0%28.3%34.3%33.5%34.3%
Bid-Ask Spread %6.674.3610.574.368.02
Gamma HHI0.080.070.100.080.08
Net GEX23.9M-6.2M50.0M-1.1M-1.9M
Net DEX-230.6M-1.14B591.0M439.5M504.2M
Net VEX-12.8M-13.7M-11.9M-12.2M-12.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.800.281.241.160.80
Total Volume108,398.66745,948276,329124,63985,362
Total OI2,752,419.4292,599,4372,958,0042,599,4372,774,556

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2010-11-01$37.42$38.0030.5%8.7%26.0%31.2%31.9%6.3%0.4%-1.1M439.5M-12.2M1.164.36N/AN/A57,74666,8931,384,0711,215,366
2010-11-02$36.96$38.0030.3%8.7%25.2%30.8%30.4%5.0%0.1%-6.2M591.0M-12.0M0.686.75N/AN/A66,10344,7631,407,1221,223,384
2010-11-03$37.72$38.0025.8%7.4%26.4%17.4%26.8%4.3%1.9%612.4K320.4M-12.3M0.455.00N/AN/A39,00117,4321,421,3711,245,148
2010-11-04$39.80$38.0026.4%7.6%33.0%19.3%28.0%3.2%0.9%33.2M-602.4M-12.9M0.554.64N/AN/A172,32194,4181,427,7461,249,104
2010-11-05$40.94$39.0025.1%7.8%34.3%15.6%28.2%3.5%1.2%50.0M-1.14B-13.7M0.557.22N/AN/A178,15898,1711,467,3151,258,519
2010-11-08$40.51$39.0025.9%7.9%34.4%17.8%29.2%3.2%1.8%48.5M-949.8M-13.4M1.247.54N/AN/A43,06053,3771,480,9371,261,921
2010-11-09$39.90$39.0026.7%8.1%34.4%20.2%28.7%3.4%1.8%38.3M-656.5M-13.4M0.815.84N/AN/A49,12139,7551,481,2591,276,540
2010-11-10$40.62$39.0025.3%7.8%34.6%16.1%28.6%3.5%2.1%48.4M-945.3M-13.5M0.776.10N/AN/A39,76630,6791,485,3351,277,334
2010-11-11$40.02$39.0028.0%8.0%33.4%24.0%29.4%3.8%1.8%42.0M-702.8M-13.4M0.986.27N/AN/A36,74236,0601,492,1501,283,911
2010-11-12$39.61$39.0028.5%8.2%29.7%25.5%29.7%4.2%1.7%32.3M-443.1M-13.2M0.766.69N/AN/A42,10531,9911,500,5671,296,539
2010-11-15$40.08$39.0028.5%8.2%28.4%25.5%28.8%3.3%1.6%45.5M-713.7M-12.9M0.9110.57N/AN/A38,70135,4051,512,0681,297,745
2010-11-16$39.61$39.0030.4%8.7%28.3%30.9%31.8%4.4%1.5%33.7M-482.9M-13.2M0.288.31N/AN/A175,27849,7301,494,9311,296,842
2010-11-17$39.18$39.0029.8%8.6%28.5%29.4%31.1%3.8%1.9%33.4M-349.5M-13.4M0.956.18N/AN/A35,00333,1241,620,7651,308,519
2010-11-18$39.66$39.0027.7%7.9%28.4%23.1%28.5%3.3%1.6%47.5M-583.2M-13.5M0.517.43N/AN/A73,10637,5841,631,4471,315,994
2010-11-19$39.41$39.0026.2%7.5%28.5%18.8%27.0%3.3%2.8%30.2M-503.7M-13.0M1.044.38N/AN/A36,60138,1101,644,5901,313,414
2010-11-22$38.51$39.0026.3%7.5%29.2%18.9%27.6%2.8%3.2%14.6M96.9M-12.6M1.228.38N/AN/A47,60758,2051,484,8081,186,646
2010-11-23$37.63$39.0028.4%8.1%30.5%25.2%29.4%2.9%2.6%-633.9K462.4M-12.2M0.915.32N/AN/A47,02242,9911,493,1531,216,011
2010-11-24$38.16$39.0027.8%8.0%30.7%23.3%27.9%2.3%2.7%6.3M251.5M-12.4M0.456.55N/AN/A38,39517,4291,506,1171,217,160
2010-11-26$37.50$39.0029.5%8.5%31.4%28.4%29.6%1.9%2.1%2.3M406.5M-12.1M1.046.88N/AN/A22,55223,3961,520,0721,216,752
2010-11-29$37.91$39.0029.8%8.6%31.6%29.3%30.3%3.3%2.1%4.6M153.9M-11.9M0.817.69N/AN/A57,02946,0801,443,9451,169,634
2010-11-30$37.40$39.0032.4%9.3%31.9%36.7%32.1%3.4%0.3%-1.9M504.2M-12.0M0.808.02N/AN/A47,29838,0641,534,9821,239,574