JPM Options History — August 2014

In August 2014, JPM traded between $55.91 and $59.74. ATM implied volatility averaged 15.6%, placing in the 15.1% IV rank vs the trailing year. The 30-day expected move averaged 5.5%. IV traded below realized volatility by 0.4% (HV 20d: 16.0%). Max pain ranged from $57.50 to $57.50. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 0.77.

Notable Days

  • 2014-08-01: Highest Volume — 128,907 contracts
  • 2014-08-18: Largest IV drop — 13.5% change
  • 2014-08-05: Highest IV Rank — 36.5%
  • 2014-08-07: Largest Expected Move — 6.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$57.50$55.91$59.74$56.48$59.45
Max Pain$57.50$57.50$57.50$57.50$57.50
ATM IV15.6%12.4%19.7%18.7%13.9%
Expected Move5.5%5.0%6.2%5.7%5.1%
HV 20d16.0%10.5%20.3%20.3%10.5%
HV 60d14.7%14.4%15.1%15.0%14.6%
IV Rank15.1%0.0%36.5%30.9%8.6%
IV Percentile20.5%0.0%63.5%53.2%4.4%
Term Structure0.2%-1.1%1.3%-0.5%1.1%
VWIV19.7%17.4%22.7%21.2%19.3%
Skew 25d3.0%1.6%4.7%3.9%2.2%
Skew 10d6.2%3.3%9.8%8.7%3.8%
Call IV 25d14.5%11.6%17.5%17.5%12.6%
Put IV 25d17.4%13.8%22.3%21.4%14.9%
Bid-Ask Spread %9.466.8912.889.337.75
Gamma HHI0.160.090.250.230.21
Net GEX51.7M-37.3M125.6M-37.3M125.6M
Net DEX-613.6M-1.55B-74.1M-179.1M-1.40B
Net VEX-11.0M-11.9M-9.8M-11.0M-11.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.770.321.400.800.64
Total Volume54,471.04823,443128,907128,90734,755
Total OI1,284,855.811,192,5161,359,1431,261,1271,359,143

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-08-01$56.48$57.5018.7%5.7%20.3%30.9%21.2%3.9%-0.5%-37.3M-179.1M-11.0M0.809.33N/AN/A71,74157,166680,917580,210
2014-08-04$56.65$57.5018.5%5.7%20.2%29.6%21.0%4.5%-0.2%24.7M-303.9M-11.0M0.648.52N/AN/A23,71215,238675,283580,293
2014-08-05$56.06$57.5019.7%6.1%19.7%36.5%22.4%4.7%-0.2%15.9M-108.8M-11.4M0.929.36N/AN/A21,54519,848682,371584,523
2014-08-06$56.23$57.5019.1%6.2%19.6%32.9%21.4%3.9%-0.1%19.3M-157.2M-11.4M0.7710.04N/AN/A30,71623,646688,128590,855
2014-08-07$55.91$57.5018.8%6.2%19.5%31.6%21.8%4.2%0.7%10.0M-74.1M-11.3M0.577.97N/AN/A27,45015,586691,231597,289
2014-08-08$56.34$57.5018.2%5.9%19.6%27.6%22.7%4.2%0.2%25.4M-197.1M-11.5M1.238.91N/AN/A16,54320,302696,887602,202
2014-08-11$56.32$57.5017.6%5.8%19.4%24.5%20.5%3.4%-1.1%20.9M-184.2M-11.0M0.868.12N/AN/A16,00613,738682,155586,336
2014-08-12$56.35$57.5017.1%5.6%14.5%21.0%20.2%3.6%-0.8%22.8M-190.5M-10.9M0.629.48N/AN/A34,12221,097687,432589,301
2014-08-13$56.72$57.5016.0%5.5%14.4%14.4%19.5%3.0%-0.9%34.7M-244.4M-10.8M1.117.36N/AN/A15,40717,160699,349600,652
2014-08-14$56.98$57.5014.4%5.4%13.7%5.2%20.1%2.9%-0.6%49.5M-349.9M-10.4M0.709.00N/AN/A13,7719,672700,716597,609
2014-08-15$56.75$57.5015.4%5.4%13.5%11.3%21.6%2.8%-1.1%35.1M-226.6M-10.0M1.409.60N/AN/A32,41745,353702,331598,774
2014-08-18$57.23$57.5013.4%5.2%13.9%0.0%18.5%3.3%0.7%48.1M-395.2M-9.8M0.7311.82N/AN/A23,16416,815648,727543,789
2014-08-19$57.56$57.5012.4%5.1%13.8%0.0%18.4%2.3%0.4%66.5M-590.7M-10.2M0.8111.44N/AN/A29,51523,776659,836550,381
2014-08-20$57.64$57.5012.9%5.2%13.6%3.1%17.5%2.1%0.5%66.5M-629.2M-10.5M0.5712.88N/AN/A27,98816,016671,833560,775
2014-08-21$58.50$57.5012.8%5.3%14.7%2.6%18.3%1.8%0.7%85.3M-969.3M-10.7M0.3210.56N/AN/A79,98725,592683,065568,515
2014-08-22$58.49$57.5013.0%5.3%14.7%3.4%17.4%1.8%0.5%82.7M-1.07B-11.3M0.4310.81N/AN/A50,01621,463728,947576,667
2014-08-25$59.34$57.5013.5%5.0%15.6%6.1%18.0%1.7%0.6%97.3M-1.38B-11.4M0.769.47N/AN/A60,89246,491731,554572,260
2014-08-26$59.74$57.5013.8%5.1%15.3%8.0%18.1%2.0%1.1%102.3M-1.55B-11.8M0.529.85N/AN/A33,55917,373746,663587,662
2014-08-27$59.59$57.5014.0%5.1%15.3%8.9%19.0%1.6%0.6%97.6M-1.41B-11.9M0.636.89N/AN/A23,30814,681750,137593,427
2014-08-28$59.16$57.5014.3%5.1%13.3%10.7%17.6%2.3%1.3%92.2M-1.27B-11.8M1.059.53N/AN/A17,66018,605754,937598,810
2014-08-29$59.45$57.5013.9%5.1%10.5%8.6%19.3%2.2%1.1%125.6M-1.40B-11.7M0.647.75N/AN/A21,13313,622758,116601,027