JPM Options History — March 2015

In March 2015, JPM traded between $59.55 and $62.13. ATM implied volatility averaged 19.5%, placing in the 44.4% IV rank vs the trailing year. The 30-day expected move averaged 5.7%. IV traded above realized volatility by 1.1% (HV 20d: 18.4%). Max pain ranged from $57.50 to $60.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 10 of 22 days. Put/call ratio averaged 0.89.

Notable Days

  • 2015-03-30: Highest Volume — 205,637 contracts
  • 2015-03-20: Largest IV drop — 13.4% change
  • 2015-03-11: Highest IV Rank — 56.1%
  • 2015-03-11: Largest Expected Move — 6.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$61.05$59.55$62.13$61.74$60.70
Max Pain$58.52$57.50$60.00$57.50$60.00
ATM IV19.5%18.0%21.4%18.6%19.0%
Expected Move5.7%4.8%6.5%4.9%5.8%
HV 20d18.4%15.4%20.2%17.4%19.7%
HV 60d23.8%23.1%24.5%24.5%23.9%
IV Rank44.4%35.2%56.1%38.7%41.4%
IV Percentile72.8%56.3%89.3%63.1%67.9%
Term Structure0.1%-1.6%2.4%-0.9%0.6%
VWIV20.9%17.5%24.9%17.5%21.3%
Skew 25d4.4%2.9%5.3%4.3%2.9%
Skew 10d9.2%6.1%15.9%10.8%7.7%
Call IV 25d17.8%16.0%19.2%16.6%18.6%
Put IV 25d22.2%19.9%24.2%20.9%21.5%
Bid-Ask Spread %8.186.1110.677.489.00
Gamma HHI0.170.140.200.160.15
Net GEX83.5M44.4M120.5M104.7M66.4M
Net DEX-1.23B-1.81B-374.8M-1.67B-943.8M
Net VEX-11.5M-11.7M-11.1M-11.6M-11.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.890.201.621.340.43
Total Volume57,935.90928,907205,63735,706114,203
Total OI1,187,617.9551,024,8761,286,4231,173,1581,142,875

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-03-02$61.74$57.5018.6%4.9%17.4%38.7%17.5%4.3%-0.9%104.7M-1.67B-11.6M1.347.48N/AN/A15,28320,423651,886521,272
2015-03-03$61.94$57.5018.9%4.8%16.8%41.0%18.0%3.3%-1.0%106.6M-1.76B-11.5M1.627.20N/AN/A16,21726,323655,069523,055
2015-03-04$62.13$57.5018.1%5.0%15.7%35.4%18.1%4.3%-0.1%105.5M-1.81B-11.5M1.248.91N/AN/A23,28828,961658,474530,275
2015-03-05$62.05$57.5018.5%5.7%15.4%38.4%21.5%4.0%-0.7%104.0M-1.77B-11.5M1.2710.47N/AN/A29,69037,649664,152537,649
2015-03-06$60.87$57.5019.6%6.3%17.6%44.9%21.3%5.2%-0.6%82.4M-1.28B-11.7M1.008.83N/AN/A43,61143,659672,632548,764
2015-03-09$61.50$57.5019.3%5.7%16.8%43.4%21.7%5.0%0.3%107.0M-1.54B-11.6M1.107.05N/AN/A20,48922,632667,471543,286
2015-03-10$59.96$57.5021.0%6.5%19.6%53.9%24.9%5.3%2.2%83.3M-915.9M-11.7M0.746.58N/AN/A21,10315,703675,135558,057
2015-03-11$60.24$57.5021.4%6.5%19.3%56.1%23.2%5.3%1.6%87.7M-1.02B-11.7M0.707.81N/AN/A17,42212,247678,551562,132
2015-03-12$61.37$57.5019.3%5.6%20.2%43.2%20.3%3.7%1.2%120.5M-1.45B-11.5M1.167.92N/AN/A28,75533,423682,874567,538
2015-03-13$61.00$57.5021.1%6.4%19.0%54.7%23.4%3.8%2.4%83.1M-1.29B-11.7M0.928.48N/AN/A21,22719,596693,312585,834
2015-03-16$61.85$57.5019.9%5.8%19.5%47.0%22.5%4.8%-0.2%97.5M-1.64B-11.4M0.396.81N/AN/A47,20318,624659,882569,644
2015-03-17$61.61$57.5020.1%5.8%19.6%48.0%21.5%5.0%0.7%96.2M-1.55B-11.6M1.186.11N/AN/A16,34719,261669,638579,771
2015-03-18$61.75$57.5019.3%5.5%19.1%43.0%21.3%4.8%0.6%107.3M-1.59B-11.5M1.029.55N/AN/A21,50521,844677,580588,461
2015-03-19$61.20$60.0020.8%6.0%19.4%52.7%20.4%4.8%-1.6%70.6M-1.37B-11.5M0.958.13N/AN/A14,85414,053681,113597,420
2015-03-20$61.75$60.0018.0%5.1%19.4%35.2%20.2%4.5%-0.0%68.3M-1.59B-11.2M0.417.63N/AN/A43,59518,032685,987600,436
2015-03-23$61.14$60.0018.4%5.4%19.4%37.3%18.4%4.2%0.1%60.6M-906.3M-11.2M0.407.95N/AN/A50,96120,509539,396485,480
2015-03-24$60.46$60.0018.5%5.5%17.4%38.4%19.4%4.4%-0.3%64.0M-720.7M-11.6M0.817.87N/AN/A16,19613,196579,802495,602
2015-03-25$59.61$60.0020.0%5.8%17.9%47.7%20.7%4.6%-0.5%55.1M-436.5M-11.5M1.158.13N/AN/A18,61921,372586,111500,087
2015-03-26$59.60$60.0020.2%6.0%17.6%48.7%22.2%4.3%0.2%55.1M-417.9M-11.5M0.9410.67N/AN/A26,30624,718591,986509,724
2015-03-27$59.55$60.0019.7%5.9%17.6%45.9%21.0%4.4%-0.5%44.4M-374.8M-11.5M0.658.01N/AN/A18,08311,771596,960518,668
2015-03-30$61.02$60.0019.1%5.8%19.7%41.8%20.8%4.1%-0.4%65.8M-928.7M-11.1M0.209.31N/AN/A171,27134,366580,933512,621
2015-03-31$60.70$60.0019.0%5.8%19.7%41.4%21.3%2.9%0.6%66.4M-943.8M-11.7M0.439.00N/AN/A79,81734,386619,402523,473