JPM Options History — February 2014

In February 2014, JPM traded between $54.31 and $58.49. ATM implied volatility averaged 19.1%, placing in the 18.9% IV rank vs the trailing year. The 30-day expected move averaged 6.8%. IV traded below realized volatility by 1.0% (HV 20d: 20.1%). Max pain ranged from $50.00 to $50.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 14 of 19 days. Put/call ratio averaged 0.60.

Notable Days

  • 2014-02-24: Highest Volume — 102,701 contracts
  • 2014-02-04: Largest IV drop — 9.5% change
  • 2014-02-03: Highest IV Rank — 48.2%
  • 2014-02-03: Largest Expected Move — 7.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$56.93$54.31$58.49$54.31$56.82
Max Pain$50.00$50.00$50.00$50.00$50.00
ATM IV19.1%17.2%24.8%24.8%18.2%
Expected Move6.8%6.5%7.2%7.2%6.5%
HV 20d20.1%16.6%22.6%20.5%17.5%
HV 60d17.9%17.4%19.2%19.1%17.8%
IV Rank18.9%8.5%48.2%48.2%15.2%
IV Percentile33.1%4.4%91.3%91.3%23.0%
Term Structure0.3%-0.6%1.1%-0.6%0.6%
VWIV24.1%22.5%25.8%24.3%24.9%
Skew 25d2.6%2.1%3.4%3.4%2.7%
Skew 10d5.6%4.5%7.1%6.7%5.3%
Call IV 25d18.1%16.2%23.7%23.7%17.0%
Put IV 25d20.8%18.3%27.1%27.1%19.7%
Bid-Ask Spread %3.832.676.135.513.52
Gamma HHI0.200.130.400.130.19
Net GEX68.8M21.9M159.0M21.9M50.9M
Net DEX-903.9M-1.40B-169.1M-169.1M-735.2M
Net VEX-11.2M-11.6M-10.8M-10.9M-10.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.600.331.110.480.54
Total Volume58,171.78928,587102,70183,47472,442
Total OI1,188,566.6321,110,7151,227,6571,140,8971,200,893

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-02-03$54.31$50.0024.8%7.2%20.5%48.2%24.3%3.4%-0.6%21.9M-169.1M-10.9M0.485.51N/AN/A56,25827,216664,752476,145
2014-02-04$54.95$50.0022.4%7.1%21.0%35.8%25.3%2.7%-0.0%29.0M-310.9M-11.0M0.424.82N/AN/A36,09615,016684,594483,124
2014-02-05$55.21$50.0022.1%7.0%21.0%34.0%25.8%2.8%0.0%34.3M-393.7M-11.1M0.544.85N/AN/A22,12811,986690,635485,949
2014-02-06$56.48$50.0020.5%6.9%22.5%25.9%23.8%2.5%0.5%46.9M-806.3M-11.4M0.736.13N/AN/A49,20835,949694,768489,876
2014-02-07$56.62$50.0019.4%6.8%22.5%20.0%23.7%2.6%0.2%27.4M-878.7M-11.4M0.673.27N/AN/A40,02026,779707,032504,523
2014-02-10$56.74$50.0019.9%6.8%22.6%22.7%23.6%2.6%-0.6%58.9M-852.8M-11.6M0.774.87N/AN/A16,16212,425693,460485,975
2014-02-11$57.43$50.0018.2%6.8%22.6%13.9%24.0%2.4%-0.2%74.4M-1.11B-11.3M0.482.95N/AN/A40,99219,833699,557491,265
2014-02-12$57.52$50.0018.0%6.8%22.6%12.9%25.2%2.1%0.0%74.9M-1.15B-11.4M0.673.90N/AN/A22,75515,306706,382492,045
2014-02-13$58.03$50.0017.8%6.8%20.0%11.5%24.0%2.2%0.5%91.4M-1.34B-11.6M0.562.69N/AN/A37,81521,245715,950497,804
2014-02-14$58.15$50.0017.2%6.7%19.8%8.5%25.4%2.1%0.7%95.7M-1.40B-11.6M0.383.18N/AN/A41,61615,606724,537503,120
2014-02-18$58.49$50.0017.9%6.7%19.2%12.0%23.3%3.1%-0.3%91.3M-1.40B-11.3M0.374.45N/AN/A36,31513,575705,429492,736
2014-02-19$57.26$50.0018.2%6.7%20.6%13.8%24.2%3.0%0.3%76.3M-984.0M-11.3M1.113.82N/AN/A29,88833,247710,326496,189
2014-02-20$57.58$50.0018.6%6.7%20.5%16.1%24.6%2.8%0.5%86.8M-1.09B-11.1M0.343.56N/AN/A31,48410,611712,832502,117
2014-02-21$57.61$50.0018.1%6.7%19.1%13.4%23.9%3.2%0.3%159.0M-1.15B-11.0M0.332.67N/AN/A49,08816,058719,714505,871
2014-02-24$58.03$50.0017.8%6.6%16.6%11.4%22.7%2.1%0.4%80.8M-1.17B-10.9M0.612.91N/AN/A63,60939,092643,396467,319
2014-02-25$57.03$50.0017.8%6.6%18.0%11.6%22.5%2.3%1.1%83.0M-861.3M-10.8M0.772.94N/AN/A31,29224,084676,931488,335
2014-02-26$56.75$50.0018.2%6.6%17.8%15.0%23.2%2.4%1.0%66.4M-706.5M-10.9M0.703.05N/AN/A31,58622,235679,885500,035
2014-02-27$56.69$50.0018.4%6.5%17.7%16.3%23.0%2.5%0.9%57.1M-656.5M-10.8M0.893.66N/AN/A19,15317,094683,170506,095
2014-02-28$56.82$50.0018.2%6.5%17.5%15.2%24.9%2.7%0.6%50.9M-735.2M-10.8M0.543.52N/AN/A47,03925,403688,859512,034