JPM Options History — September 2013

In September 2013, JPM traded between $50.32 and $53.67. ATM implied volatility averaged 22.3%, placing in the 23.7% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded above realized volatility by 3.5% (HV 20d: 18.9%). Max pain ranged from $50.00 to $52.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 5 of 20 days. Put/call ratio averaged 0.68.

Notable Days

  • 2013-09-25: Highest Volume — 177,451 contracts
  • 2013-09-24: Largest IV spike — 7.7% change
  • 2013-09-03: Highest IV Rank — 31.3%
  • 2013-09-03: Largest Expected Move — 7.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$52.34$50.32$53.67$51.13$51.69
Max Pain$51.34$50.00$52.50$50.00$52.00
ATM IV22.3%20.7%24.4%24.4%24.0%
Expected Move6.4%6.0%7.0%7.0%6.8%
HV 20d18.9%16.2%21.6%16.2%21.6%
HV 60d17.0%15.6%17.8%17.4%17.2%
IV Rank23.7%17.7%31.3%31.3%29.7%
IV Percentile58.8%40.9%74.6%74.2%74.6%
Term Structure-0.7%-1.6%0.3%-0.3%-1.5%
VWIV22.3%19.2%24.1%22.8%24.1%
Skew 25d3.4%2.4%4.6%4.6%3.0%
Skew 10d7.6%5.2%12.5%7.7%7.4%
Call IV 25d21.0%19.3%23.0%22.1%22.7%
Put IV 25d24.3%22.5%26.7%26.7%25.7%
Bid-Ask Spread %4.661.6515.842.9211.55
Gamma HHI0.190.150.460.150.18
Net GEX48.9M6.2M144.4M35.6M35.7M
Net DEX-1.04B-1.51B-268.8M-668.0M-852.8M
Net VEX-11.6M-12.1M-10.7M-11.9M-11.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.680.251.210.250.73
Total Volume82,302.428,016177,45175,84165,496
Total OI1,741,517.31,549,7831,863,1581,713,6851,674,905

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2013-09-03$51.13$50.0024.4%7.0%16.2%31.3%22.8%4.6%-0.3%35.6M-668.0M-11.9M0.252.92N/AN/A60,88814,953900,831812,854
2013-09-04$51.87$50.0022.8%6.5%17.3%25.3%22.7%4.1%0.0%53.9M-917.5M-12.1M0.415.32N/AN/A45,19818,533922,123815,618
2013-09-05$52.11$50.0022.1%6.3%17.6%22.7%22.1%4.0%0.3%67.1M-1.01B-12.0M0.503.73N/AN/A35,19617,577929,486820,981
2013-09-06$52.56$50.0021.6%6.2%17.9%20.9%22.0%3.4%0.3%144.4M-1.21B-12.1M0.515.16N/AN/A64,89633,155930,824824,131
2013-09-09$52.86$50.0021.8%6.2%18.0%21.7%23.9%3.9%0.0%58.8M-1.23B-11.9M0.822.01N/AN/A24,85220,303910,568820,631
2013-09-10$53.67$50.0021.7%6.2%18.8%21.5%21.0%3.4%-0.2%63.2M-1.51B-11.7M0.362.54N/AN/A38,34913,933913,734831,911
2013-09-11$53.26$50.0021.2%6.1%18.9%19.4%19.2%3.2%0.1%57.3M-1.33B-11.6M0.502.69N/AN/A45,73623,008906,987835,706
2013-09-12$52.24$0.0022.6%6.5%20.0%24.7%22.9%3.6%-1.0%45.0M-960.1M-11.7M1.214.18N/AN/A43,91453,040920,040845,703
2013-09-13$52.59$52.0022.0%6.4%19.5%22.6%22.0%3.7%-0.5%49.3M-1.10B-11.7M0.506.97N/AN/A31,37715,703942,942882,821
2013-09-16$53.14$52.5022.2%6.4%19.9%23.2%22.2%3.9%-1.3%50.9M-1.35B-11.3M0.821.91N/AN/A25,69221,180935,417875,127
2013-09-17$53.09$52.5021.9%6.3%17.0%22.2%21.1%4.1%-1.3%49.9M-1.25B-11.7M0.531.91N/AN/A18,3679,649941,883884,101
2013-09-18$53.41$52.5021.5%6.2%17.0%20.7%21.1%3.1%-1.3%57.4M-1.42B-11.5M0.682.32N/AN/A34,44423,534948,375885,812
2013-09-19$52.75$52.5021.9%6.3%17.3%22.1%22.0%2.4%-0.3%53.1M-1.18B-11.1M1.122.37N/AN/A37,90842,343947,068883,131
2013-09-20$52.80$52.5020.7%6.0%16.9%17.7%20.8%2.9%-0.7%44.1M-1.13B-11.3M0.751.65N/AN/A60,81145,467960,094903,064
2013-09-23$51.46$52.5021.6%6.2%19.3%20.9%21.9%3.1%-1.6%15.1M-648.3M-10.7M1.074.20N/AN/A50,30153,954797,377752,406
2013-09-24$50.32$52.5023.2%6.6%20.5%27.0%23.6%3.1%-1.1%6.2M-268.8M-10.8M1.074.76N/AN/A76,77882,092811,990770,675
2013-09-25$51.70$52.0022.7%6.5%21.1%25.0%23.1%2.7%-1.5%18.1M-779.2M-11.2M0.773.53N/AN/A100,48576,966840,116811,926
2013-09-26$51.89$51.0023.1%6.6%21.2%26.4%23.8%2.6%-0.6%27.7M-877.2M-11.9M0.5215.84N/AN/A74,66438,665872,506831,512
2013-09-27$52.24$51.0023.6%6.8%21.2%28.3%23.9%2.9%-0.7%45.1M-1.08B-12.0M0.587.72N/AN/A67,67338,968895,797839,173
2013-09-30$51.69$52.0024.0%6.8%21.6%29.7%24.1%3.0%-1.5%35.7M-852.8M-11.3M0.7311.55N/AN/A37,76627,730873,171801,734