JPM Options History — August 2012

In August 2012, JPM traded between $35.17 and $38.04. ATM implied volatility averaged 24.2%, placing in the 5.8% IV rank vs the trailing year. The 30-day expected move averaged 7.0%. IV traded below realized volatility by 0.2% (HV 20d: 24.4%). Max pain ranged from $35.00 to $36.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 21 of 23 days. Put/call ratio averaged 0.87.

Notable Days

  • 2012-08-07: Highest Volume — 185,579 contracts
  • 2012-08-31: Largest IV drop — 25.0% change
  • 2012-08-01: Highest IV Rank — 18.4%
  • 2012-08-02: Largest Expected Move — 8.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$36.97$35.17$38.04$36.00$37.14
Max Pain$35.87$35.00$36.00$35.00$36.00
ATM IV24.2%19.9%35.4%35.4%19.9%
Expected Move7.0%6.3%8.0%7.8%7.1%
HV 20d24.4%13.4%34.9%34.9%13.4%
HV 60d33.4%28.4%40.8%40.3%28.4%
IV Rank5.8%0.0%18.4%18.4%0.0%
IV Percentile10.9%0.0%45.2%45.2%0.0%
Term Structure2.6%-0.0%3.9%-0.0%2.9%
VWIV25.2%22.9%28.4%28.4%24.7%
Skew 25d4.5%3.8%5.3%4.9%4.3%
Skew 10d9.2%7.1%11.7%9.7%8.1%
Call IV 25d22.8%20.8%26.2%26.0%23.2%
Put IV 25d27.3%24.9%31.2%30.9%27.5%
Bid-Ask Spread %7.763.989.898.988.38
Gamma HHI0.120.070.540.070.09
Net GEX34.2M2.1M136.2M18.1M28.2M
Net DEX-344.8M-680.8M336.3M-27.2M-318.5M
Net VEX-13.1M-13.9M-12.6M-13.9M-12.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.870.421.390.880.62
Total Volume82,838.39134,547185,57982,28983,719
Total OI2,434,832.9132,232,3452,575,7622,473,7182,373,779

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2012-08-01$36.00$35.0035.4%7.8%34.9%18.4%28.4%4.9%-0.0%18.1M-27.2M-13.9M0.888.98N/AN/A43,68638,6031,230,7561,242,962
2012-08-02$35.17$35.0028.4%8.0%32.3%9.6%27.8%5.0%-0.0%2.1M336.3M-13.4M1.138.44N/AN/A53,08959,7871,244,7901,247,105
2012-08-03$36.09$35.0024.4%6.9%32.9%4.6%24.9%5.2%1.8%22.6M-77.9M-13.7M0.728.78N/AN/A57,97941,7731,253,0541,249,550
2012-08-06$36.30$36.0028.2%7.4%32.9%9.3%27.3%4.9%2.7%23.9M-151.5M-13.4M1.395.96N/AN/A37,01151,4241,238,3101,239,049
2012-08-07$37.01$36.0029.1%7.5%33.4%10.5%26.1%5.3%2.2%30.3M-438.0M-13.7M0.946.53N/AN/A95,85589,7241,247,1431,265,194
2012-08-08$37.16$36.0023.7%7.3%33.3%5.0%25.0%5.2%2.6%30.3M-476.4M-13.7M0.856.60N/AN/A39,56833,4961,249,9961,279,985
2012-08-09$36.92$36.0022.8%7.2%32.7%3.5%25.6%4.6%2.3%27.8M-370.7M-13.5M0.937.61N/AN/A39,01536,1551,259,3641,276,389
2012-08-10$36.97$36.0020.8%6.9%25.8%0.1%25.1%4.3%2.8%26.7M-410.2M-13.2M0.896.58N/AN/A44,79239,8001,265,4831,285,010
2012-08-13$36.99$36.0020.6%6.7%23.5%0.0%23.6%4.3%3.3%37.8M-451.8M-13.0M0.613.98N/AN/A30,39218,4021,261,1791,274,654
2012-08-14$37.10$36.0020.0%6.9%23.4%0.0%24.7%4.6%3.0%42.6M-528.4M-13.0M1.027.68N/AN/A39,40840,1871,271,0391,278,921
2012-08-15$37.07$36.0020.4%6.8%23.4%0.7%25.3%4.4%3.6%43.6M-523.0M-13.0M1.349.89N/AN/A39,39052,6291,277,5871,276,352
2012-08-16$37.10$36.0024.2%6.9%22.5%6.8%25.8%4.8%3.2%47.6M-525.3M-12.9M0.938.54N/AN/A47,75744,2981,273,4941,271,269
2012-08-17$36.98$36.0022.0%6.3%21.4%3.3%23.5%4.3%3.9%136.2M-421.1M-12.8M0.607.90N/AN/A56,56134,2151,284,0771,291,685
2012-08-20$37.37$36.0022.6%6.5%21.1%4.2%22.9%4.1%3.4%26.0M-380.4M-12.6M0.427.78N/AN/A55,56023,0891,141,1771,091,168
2012-08-21$38.04$36.0023.1%6.6%21.6%5.1%23.6%4.2%3.0%34.5M-680.8M-13.0M0.697.47N/AN/A89,79862,3451,167,6341,098,721
2012-08-22$37.83$36.0023.2%6.7%21.7%5.3%23.6%3.8%3.0%35.3M-604.5M-13.0M0.837.56N/AN/A27,79223,1141,188,3431,106,715
2012-08-23$37.23$36.0023.9%6.9%22.0%6.4%24.3%4.3%3.5%29.5M-342.5M-13.0M1.119.68N/AN/A36,24740,3541,199,4921,111,408
2012-08-24$37.17$36.0023.9%6.9%19.4%6.5%24.6%4.4%3.2%25.8M-330.7M-13.0M0.938.34N/AN/A33,43831,0541,202,8801,129,931
2012-08-27$37.23$36.0024.4%7.0%17.8%7.2%24.7%4.3%2.9%27.0M-337.3M-12.8M0.529.35N/AN/A37,40619,6091,192,2261,119,839
2012-08-28$37.13$36.0024.5%7.0%17.8%7.3%25.6%4.3%2.8%28.4M-276.9M-12.8M0.637.24N/AN/A23,48614,8071,208,4801,128,807
2012-08-29$37.30$36.0025.0%7.2%17.8%8.2%25.1%4.5%2.5%33.7M-380.2M-12.8M0.736.87N/AN/A19,95914,5881,214,6991,132,581
2012-08-30$36.90$36.0026.5%7.6%15.9%10.6%27.3%4.1%2.1%27.7M-212.4M-12.8M1.248.41N/AN/A28,58635,3361,222,5571,136,323
2012-08-31$37.14$36.0019.9%7.1%13.4%0.0%24.7%4.3%2.9%28.2M-318.5M-12.8M0.628.38N/AN/A51,72331,9961,228,0591,145,720