JPM Options History — March 2017

In March 2017, JPM traded between $87.21 and $93.87. ATM implied volatility averaged 18.9%, placing in the 19.6% IV rank vs the trailing year. The 30-day expected move averaged 5.4%. IV traded above realized volatility by 0.5% (HV 20d: 18.4%). Max pain ranged from $85.00 to $92.50. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 13 of 23 days. Put/call ratio averaged 0.88.

Notable Days

  • 2017-03-01: Highest Volume — 181,804 contracts
  • 2017-03-21: Largest IV spike — 19.4% change
  • 2017-03-27: Highest IV Rank — 30.0%
  • 2017-03-24: Largest Expected Move — 5.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$90.21$87.21$93.87$93.87$88.06
Max Pain$91.26$85.00$92.50$85.00$90.00
ATM IV18.9%17.0%20.9%18.3%18.6%
Expected Move5.4%4.8%5.9%5.3%5.2%
HV 20d18.4%15.9%21.2%18.9%16.2%
HV 60d18.0%17.1%19.0%17.4%19.0%
IV Rank19.6%9.8%30.0%16.4%18.2%
IV Percentile42.2%17.1%69.4%34.1%41.3%
Term Structure0.2%-0.9%1.5%0.0%0.1%
VWIV19.2%16.9%21.0%19.0%18.2%
Skew 25d2.6%1.0%3.6%1.7%2.6%
Skew 10d4.7%1.7%8.3%4.4%1.8%
Call IV 25d17.9%16.0%19.8%17.7%17.6%
Put IV 25d20.5%18.4%23.0%19.4%20.2%
Bid-Ask Spread %4.392.289.842.795.45
Gamma HHI0.110.060.170.170.07
Net GEX61.8M1.4M120.2M89.3M19.8M
Net DEX-1.60B-3.11B-471.7M-3.11B-778.1M
Net VEX-13.4M-14.2M-12.2M-12.8M-12.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.880.591.280.860.67
Total Volume85,920.8747,200181,804181,804104,985
Total OI1,213,529.2171,041,6541,334,3961,148,6881,202,444

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2017-03-01$93.87$85.0018.3%5.3%18.9%16.4%19.0%1.7%0.0%89.3M-3.11B-12.8M0.862.79N/AN/A97,91583,889559,692588,996
2017-03-02$92.20$86.0018.9%5.4%20.6%19.6%19.1%1.5%0.4%79.2M-2.44B-14.1M0.792.57N/AN/A53,91742,468588,292623,356
2017-03-03$92.78$87.5018.2%5.1%20.4%16.1%18.0%1.0%0.6%120.2M-2.63B-13.8M0.952.84N/AN/A42,37540,393612,991641,313
2017-03-06$91.96$92.5018.3%5.6%18.5%16.5%19.7%2.1%1.4%88.5M-2.28B-13.8M1.282.45N/AN/A29,82638,036597,115619,119
2017-03-07$91.37$92.5018.6%5.5%18.6%18.1%20.2%2.5%1.0%83.6M-2.06B-13.5M0.862.28N/AN/A30,00325,816611,063635,044
2017-03-08$91.33$92.5018.9%5.6%18.6%19.6%20.3%2.6%1.2%87.5M-2.05B-13.4M0.592.32N/AN/A51,45330,269620,179642,184
2017-03-09$91.51$92.5018.8%5.6%18.0%19.3%19.9%2.7%1.3%95.5M-2.12B-14.2M0.962.96N/AN/A29,65228,487641,854655,096
2017-03-10$91.25$92.5018.3%5.6%17.6%16.5%19.6%2.0%1.5%76.9M-2.01B-13.9M0.602.73N/AN/A60,63636,526645,108663,906
2017-03-13$91.37$92.5018.3%5.1%17.6%16.6%18.9%3.1%-0.5%100.0M-2.08B-13.4M0.832.62N/AN/A30,02925,014636,560641,825
2017-03-14$91.55$92.5019.7%5.3%17.1%23.9%19.4%2.7%-0.7%96.4M-2.15B-13.6M0.812.62N/AN/A29,81524,007640,462651,074
2017-03-15$91.64$92.5019.1%5.1%16.3%20.9%18.0%2.6%-0.9%102.7M-2.20B-13.3M0.623.73N/AN/A55,70734,279648,466658,119
2017-03-16$91.72$92.5017.8%4.9%15.9%13.8%18.2%2.9%-0.7%105.9M-2.13B-13.2M0.653.94N/AN/A45,72029,810654,030667,991
2017-03-17$90.87$92.5017.4%4.9%16.2%11.7%16.9%2.9%-0.4%53.7M-1.85B-13.1M0.634.89N/AN/A46,02728,772658,274676,122
2017-03-20$90.43$92.5017.0%4.8%16.3%9.8%17.3%2.4%0.2%52.4M-1.28B-12.8M1.025.81N/AN/A23,41423,786512,914528,740
2017-03-21$87.21$92.5020.3%5.8%20.5%27.3%19.9%3.3%-0.6%10.5M-471.7M-13.4M1.146.68N/AN/A73,61083,952521,036537,957
2017-03-22$87.65$92.5020.2%5.8%20.6%26.3%20.3%3.4%-0.1%9.0M-584.2M-12.9M1.094.91N/AN/A46,98751,372538,339578,056
2017-03-23$87.38$92.0020.0%5.7%20.6%25.5%20.1%3.3%-0.1%5.2M-512.5M-13.3M0.955.72N/AN/A38,63936,660556,297596,579
2017-03-24$87.34$92.0020.8%5.9%20.4%29.4%21.0%3.6%-0.2%1.4M-529.1M-13.4M1.219.84N/AN/A37,11745,073567,084605,365
2017-03-27$87.32$92.0020.9%5.9%20.3%30.0%20.9%2.6%-0.2%13.7M-531.1M-13.7M1.015.82N/AN/A39,55540,059547,646596,004
2017-03-28$88.73$91.0018.8%5.4%21.2%19.1%19.3%2.4%0.1%39.4M-955.4M-13.7M0.816.35N/AN/A58,40547,451560,463609,160
2017-03-29$88.26$91.0018.5%5.3%16.5%17.5%18.5%2.6%0.0%33.6M-837.8M-13.4M0.934.92N/AN/A32,19529,926576,651615,257
2017-03-30$89.11$90.0018.6%5.3%16.1%18.0%18.9%2.5%0.2%56.7M-1.14B-12.4M0.906.69N/AN/A48,46043,693573,935609,014
2017-03-31$88.06$90.0018.6%5.2%16.2%18.2%18.2%2.6%0.1%19.8M-778.1M-12.2M0.675.45N/AN/A62,97842,007588,109614,335