JPM Options History — May 2012

In May 2012, JPM traded between $32.51 and $43.79. ATM implied volatility averaged 34.2%, placing in the 20.0% IV rank vs the trailing year. The 30-day expected move averaged 9.7%. IV traded below realized volatility by 1.8% (HV 20d: 36.0%). Max pain ranged from $37.00 to $43.00. Net GEX was positive for 6 of 22 trading days. Term structure was in contango for 19 of 22 days. Put/call ratio averaged 0.94.

Notable Days

  • 2012-05-11: Highest Volume — 725,537 contracts
  • 2012-05-07: Largest IV spike — 20.4% change
  • 2012-05-18: Highest IV Rank — 33.3%
  • 2012-05-18: Largest Expected Move — 12.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$37.10$32.51$43.79$43.79$33.15
Max Pain$39.27$37.00$43.00$43.00$37.00
ATM IV34.2%22.4%45.1%23.0%37.1%
Expected Move9.7%6.1%12.9%6.1%10.6%
HV 20d36.0%22.4%45.8%25.4%44.3%
HV 60d32.1%25.9%36.6%25.9%36.0%
IV Rank20.0%6.0%33.3%6.7%21.5%
IV Percentile46.1%7.1%71.4%9.5%53.6%
Term Structure1.0%-1.4%2.5%2.3%2.5%
VWIV34.3%22.0%46.5%22.0%37.0%
Skew 25d7.6%4.4%12.3%4.6%6.9%
Skew 10d16.3%8.8%27.4%12.1%11.6%
Call IV 25d30.9%20.0%39.9%20.0%34.8%
Put IV 25d38.5%24.6%51.3%24.6%41.7%
Bid-Ask Spread %4.823.547.673.555.79
Gamma HHI0.090.060.120.100.09
Net GEX-12.7M-35.7M24.3M24.3M-22.9M
Net DEX657.8M-792.2M1.61B-792.2M1.22B
Net VEX-11.2M-12.8M-9.1M-11.0M-12.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.940.481.800.660.80
Total Volume203,816.36441,562725,53773,418219,855
Total OI1,997,609.1361,596,1492,491,9491,596,1492,491,949

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2012-05-01$43.79$43.0023.0%6.1%25.4%6.7%22.0%4.6%2.3%24.3M-792.2M-11.0M0.663.55N/AN/A44,27029,148744,409851,740
2012-05-02$43.20$43.0025.5%6.5%25.3%9.7%22.8%4.4%1.7%18.5M-605.4M-11.1M0.487.67N/AN/A28,02413,538754,969858,511
2012-05-03$43.01$43.0022.4%6.3%24.1%6.0%22.7%4.4%2.2%19.4M-553.9M-10.9M1.176.69N/AN/A36,47642,742761,673852,496
2012-05-04$41.75$40.0023.6%7.4%26.1%7.4%26.5%6.3%1.5%4.9M-163.7M-10.8M0.703.91N/AN/A50,50235,426768,216861,837
2012-05-07$41.78$40.0028.4%7.5%26.0%13.2%25.3%6.6%1.6%4.9M-217.7M-10.7M0.543.54N/AN/A46,09624,782760,776857,952
2012-05-08$41.38$40.0030.6%7.9%25.2%15.8%27.6%7.2%1.1%1.8M-106.0M-10.5M0.714.44N/AN/A45,60532,546778,242866,421
2012-05-09$40.64$40.0027.7%8.2%23.8%12.3%29.1%7.1%1.3%-4.3M86.7M-10.5M0.645.30N/AN/A68,08743,735792,349869,061
2012-05-10$40.74$40.0028.1%8.1%22.4%12.8%27.1%7.2%1.2%-2.4M51.4M-10.4M1.134.16N/AN/A34,73039,092803,646879,705
2012-05-11$36.96$40.0033.7%9.7%38.5%19.5%34.5%7.2%0.7%-20.4M931.9M-9.1M1.375.27N/AN/A306,645418,892810,648888,891
2012-05-14$35.79$40.0035.3%10.1%39.2%21.4%36.4%7.0%0.4%-29.3M1.16B-10.2M1.023.84N/AN/A147,974151,014894,4411,047,220
2012-05-15$36.24$40.0035.7%10.2%39.1%21.9%38.2%5.6%0.2%-23.1M970.3M-10.9M1.575.02N/AN/A127,662200,687940,4971,075,587
2012-05-16$35.46$39.0036.7%10.5%39.3%23.2%35.5%7.3%1.2%-34.1M1.20B-11.3M1.064.16N/AN/A91,76296,863986,2401,159,454
2012-05-17$33.93$39.0041.6%11.9%41.0%29.0%41.1%10.6%-0.4%-35.7M1.56B-10.7M0.924.48N/AN/A169,496155,9861,015,9071,179,372
2012-05-18$33.49$39.0045.1%12.9%41.0%33.3%46.5%12.3%-0.6%-27.3M1.61B-10.9M1.805.67N/AN/A135,911245,2351,073,1061,200,089
2012-05-21$32.51$38.0043.2%12.4%41.0%31.0%44.7%11.2%-1.4%-30.6M1.48B-10.3M1.064.57N/AN/A173,908184,077953,8671,138,274
2012-05-22$34.01$38.0041.1%11.8%45.4%28.4%41.7%9.9%0.4%-19.3M1.05B-12.0M0.745.07N/AN/A180,231133,5401,014,4021,179,718
2012-05-23$34.26$37.0040.2%11.5%45.8%27.3%41.9%9.7%0.1%-16.1M955.7M-12.8M0.854.67N/AN/A97,53783,3481,074,8301,217,644
2012-05-24$33.97$37.0039.1%11.2%44.8%26.0%39.1%8.8%1.2%-18.0M1.02B-12.8M0.944.12N/AN/A84,04278,5941,100,2161,245,297
2012-05-25$33.50$37.0036.4%11.4%44.8%22.8%39.1%8.6%1.7%-22.8M1.17B-12.8M1.035.01N/AN/A52,12553,5241,137,3081,263,914
2012-05-29$33.63$37.0036.0%10.4%45.1%22.3%36.9%7.3%2.0%-23.2M1.16B-12.5M0.774.91N/AN/A81,88963,1601,127,7501,239,253
2012-05-30$32.96$37.0042.4%11.0%43.7%28.2%38.0%7.2%2.0%-24.1M1.29B-12.4M0.674.26N/AN/A80,92254,2821,170,0761,259,448
2012-05-31$33.15$37.0037.1%10.6%44.3%21.5%37.0%6.9%2.5%-22.9M1.22B-12.8M0.805.79N/AN/A122,39697,4591,204,9911,286,958