JPM Options History — September 2014

In September 2014, JPM traded between $59.06 and $61.63. ATM implied volatility averaged 16.7%, placing in the 24.2% IV rank vs the trailing year. The 30-day expected move averaged 5.2%. IV traded above realized volatility by 5.8% (HV 20d: 10.9%). Max pain ranged from $57.50 to $57.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.80.

Notable Days

  • 2014-09-18: Highest Volume — 119,302 contracts
  • 2014-09-25: Largest IV spike — 14.3% change
  • 2014-09-30: Highest IV Rank — 37.4%
  • 2014-09-30: Largest Expected Move — 5.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$60.21$59.06$61.63$59.67$60.24
Max Pain$57.50$57.50$57.50$57.50$57.50
ATM IV16.7%14.9%19.1%14.9%19.1%
Expected Move5.2%5.0%5.5%5.2%5.5%
HV 20d10.9%8.8%13.9%10.5%13.7%
HV 60d14.5%14.2%15.4%14.6%15.2%
IV Rank24.2%14.3%37.4%14.3%37.4%
IV Percentile33.1%12.7%67.9%12.7%67.9%
Term Structure0.1%-1.9%2.1%0.1%-0.7%
VWIV18.7%17.2%20.2%18.0%19.0%
Skew 25d3.2%2.3%3.9%2.6%3.0%
Skew 10d6.2%3.9%8.9%4.8%5.9%
Call IV 25d15.6%13.6%17.9%13.8%17.9%
Put IV 25d18.7%16.1%21.2%16.4%20.9%
Bid-Ask Spread %8.235.2910.285.298.58
Gamma HHI0.250.180.400.270.18
Net GEX102.7M70.7M154.6M96.8M78.2M
Net DEX-1.50B-2.24B-1.07B-1.39B-1.25B
Net VEX-11.7M-12.3M-11.3M-11.5M-12.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.800.301.700.600.99
Total Volume53,388.14322,097119,30228,50936,182
Total OI1,384,184.2381,287,8591,484,6321,338,0221,387,618

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-09-02$59.67$57.5014.9%5.2%10.5%14.3%18.0%2.6%0.1%96.8M-1.39B-11.5M0.605.29N/AN/A17,77110,738746,206591,816
2014-09-03$59.70$57.5015.1%5.1%9.3%15.1%18.6%2.8%-0.1%98.2M-1.41B-11.6M1.029.66N/AN/A50,64551,855751,084594,388
2014-09-04$59.71$57.5015.6%5.2%9.4%17.9%17.7%2.5%-0.2%102.0M-1.47B-11.9M0.549.49N/AN/A32,94117,909762,652605,128
2014-09-05$59.91$57.5015.0%5.2%8.8%14.5%19.8%2.3%-0.4%116.1M-1.57B-11.5M0.696.90N/AN/A23,62416,358773,697610,555
2014-09-08$59.89$57.5015.3%5.2%8.8%16.2%17.7%2.9%1.7%107.1M-1.53B-11.4M0.357.13N/AN/A27,3379,692766,185605,385
2014-09-09$59.06$57.5016.4%5.2%10.6%22.2%20.1%3.3%0.7%87.9M-1.07B-11.4M0.997.84N/AN/A19,38119,222779,467609,894
2014-09-10$59.22$57.5016.2%5.2%10.6%21.3%18.5%2.8%1.0%93.0M-1.15B-11.3M0.968.37N/AN/A11,28110,816782,719613,438
2014-09-11$59.76$57.5016.1%5.4%10.8%20.9%18.7%3.0%2.1%108.9M-1.45B-11.6M0.309.38N/AN/A41,37012,346785,916617,124
2014-09-12$60.03$57.5016.6%5.4%10.8%23.7%19.1%3.6%1.6%154.6M-1.56B-11.7M0.506.57N/AN/A33,18316,624811,554620,415
2014-09-15$59.94$57.5017.4%5.4%10.6%28.1%19.3%3.9%-0.0%118.5M-1.58B-11.4M1.706.07N/AN/A14,04123,876803,107614,156
2014-09-16$59.99$57.5017.7%5.3%10.4%29.5%18.4%3.9%-0.2%125.8M-1.55B-11.4M0.858.50N/AN/A18,42915,606806,438624,620
2014-09-17$60.31$57.5018.2%5.3%10.4%32.3%19.1%3.4%-0.7%124.4M-1.71B-11.6M0.3010.28N/AN/A76,08222,860810,122631,239
2014-09-18$61.32$57.5016.7%5.1%11.5%24.1%18.5%3.7%0.2%127.8M-2.24B-11.7M0.849.10N/AN/A64,92154,381833,760630,750
2014-09-19$61.11$57.5017.1%5.2%10.9%26.1%17.5%3.3%-1.9%113.1M-2.05B-12.0M0.737.02N/AN/A44,73432,848837,077647,555
2014-09-22$60.91$57.5016.4%5.2%11.0%22.2%17.8%3.4%-0.5%93.6M-1.52B-11.9M1.427.25N/AN/A18,01925,589731,217556,642
2014-09-23$60.94$57.5016.3%5.2%10.0%21.8%19.0%3.2%-0.3%95.5M-1.56B-11.8M0.907.90N/AN/A20,46718,476738,175571,121
2014-09-24$61.63$57.5016.1%5.0%10.4%20.8%17.2%3.2%-0.2%93.5M-1.73B-11.9M0.5210.14N/AN/A47,90624,679742,304580,305
2014-09-25$60.15$57.5018.4%5.3%13.9%33.7%20.2%2.8%-0.2%75.1M-1.13B-12.3M1.338.53N/AN/A26,66435,368758,538593,532
2014-09-26$60.56$57.5018.1%5.3%13.7%31.9%19.1%3.0%-0.4%70.7M-1.36B-12.2M0.918.78N/AN/A18,70816,968766,196610,056
2014-09-29$60.33$57.5018.4%5.4%13.8%33.7%19.7%3.7%-0.5%75.1M-1.22B-12.3M0.3610.04N/AN/A30,36410,890758,744606,974
2014-09-30$60.24$57.5019.1%5.5%13.7%37.4%19.0%3.0%-0.7%78.2M-1.25B-12.2M0.998.58N/AN/A18,14418,038778,497609,121