JPM Options History — September 2019

In September 2019, JPM traded between $108.60 and $120.30. ATM implied volatility averaged 19.8%, placing in the 22.0% IV rank vs the trailing year. The 30-day expected move averaged 5.8%. IV traded below realized volatility by 3.0% (HV 20d: 22.8%). Max pain ranged from $110.00 to $115.00. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 13 of 20 days. Put/call ratio averaged 0.99.

Notable Days

  • 2019-09-13: Highest Volume — 134,236 contracts
  • 2019-09-24: Largest IV spike — 10.1% change
  • 2019-09-03: Highest IV Rank — 38.0%
  • 2019-09-03: Largest Expected Move — 6.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$116.74$108.60$120.30$108.60$117.74
Max Pain$111.75$110.00$115.00$110.00$115.00
ATM IV19.8%18.5%23.8%23.8%19.6%
Expected Move5.8%5.4%6.7%6.7%5.6%
HV 20d22.8%17.4%28.8%27.6%17.4%
HV 60d22.0%21.4%22.4%21.4%21.6%
IV Rank22.0%16.8%38.0%38.0%21.3%
IV Percentile44.0%27.0%81.0%81.0%42.9%
Term Structure0.4%-0.6%2.4%-0.6%0.0%
VWIV21.4%19.6%25.5%25.5%19.7%
Skew 25d5.2%4.0%7.8%7.8%4.6%
Skew 10d10.3%7.4%16.0%16.0%9.5%
Call IV 25d17.8%16.0%20.5%20.5%18.2%
Put IV 25d23.0%20.9%28.4%28.4%22.8%
Bid-Ask Spread %6.463.8210.435.876.22
Gamma HHI0.200.080.530.080.16
Net GEX77.3M-15.4M234.4M-15.4M37.9M
Net DEX-992.7M-2.36B697.6M697.6M-500.2M
Net VEX-14.2M-14.6M-13.6M-14.1M-14.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.990.421.691.690.65
Total Volume63,077.4528,717134,23636,84228,717
Total OI941,110.85791,8391,071,886904,249854,573

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-09-03$108.60$110.0023.8%6.7%27.6%38.0%25.5%7.8%-0.6%-15.4M697.6M-14.1M1.695.87N/AN/A13,68423,158384,622519,627
2019-09-04$110.03$110.0021.9%6.0%27.9%30.5%22.5%7.1%-0.2%744.5K347.5M-14.1M1.165.04N/AN/A17,99020,855388,363529,474
2019-09-05$112.53$110.0020.6%5.7%28.0%25.2%22.0%6.2%-0.5%41.8M-297.6M-14.1M0.567.15N/AN/A49,68227,736392,397534,903
2019-09-06$112.67$110.0019.3%5.5%27.4%19.8%21.0%5.5%-0.1%58.5M-353.2M-14.1M0.424.48N/AN/A37,97316,118411,849543,775
2019-09-09$115.62$110.0019.5%6.0%28.8%20.9%24.0%5.9%1.8%89.1M-1.05B-14.1M0.947.48N/AN/A43,34740,651409,009527,059
2019-09-10$116.72$110.0019.6%6.2%27.2%21.0%22.3%5.9%2.3%105.9M-1.31B-14.3M0.764.47N/AN/A57,80243,904421,514537,863
2019-09-11$116.84$110.0019.0%6.1%26.9%18.9%20.8%5.5%2.4%103.1M-1.35B-14.3M1.493.82N/AN/A22,86133,979428,640549,724
2019-09-12$118.19$110.0018.5%5.4%21.7%16.8%21.1%5.1%-0.1%130.2M-1.74B-14.2M1.256.50N/AN/A39,54849,589433,362562,121
2019-09-13$120.30$110.0018.7%5.6%22.0%17.7%20.3%4.9%1.2%139.8M-2.36B-14.2M1.025.07N/AN/A66,29267,944440,741580,262
2019-09-16$119.08$110.0019.8%5.7%22.0%22.0%22.3%5.3%0.2%126.2M-1.75B-14.5M1.596.08N/AN/A20,45232,617437,097573,051
2019-09-17$118.52$110.0019.7%5.7%22.1%21.5%22.6%5.5%0.5%123.1M-1.55B-14.6M1.075.26N/AN/A23,34625,081441,537573,902
2019-09-18$119.94$110.0019.7%5.6%21.5%21.6%20.7%4.4%-0.2%173.7M-2.09B-13.6M1.108.94N/AN/A35,79639,401446,422580,651
2019-09-19$119.47$110.0018.8%5.4%21.6%18.0%20.5%4.3%0.4%234.4M-1.89B-13.7M0.735.75N/AN/A42,54831,172454,637594,145
2019-09-20$119.34$115.0019.3%5.5%21.6%19.8%20.8%4.3%-0.0%46.9M-1.68B-14.1M0.9410.43N/AN/A40,24537,820462,905608,981
2019-09-23$118.94$115.0019.0%5.5%17.8%18.7%20.3%4.3%0.3%41.1M-823.9M-13.7M0.876.00N/AN/A20,57317,909338,288453,551
2019-09-24$117.35$115.0020.9%6.1%19.0%26.4%21.0%4.9%0.3%23.5M-475.8M-14.3M0.896.98N/AN/A26,67123,859354,281471,053
2019-09-25$118.03$115.0019.4%5.7%18.5%20.3%20.3%4.2%0.3%33.1M-657.7M-14.2M0.905.91N/AN/A28,56125,809361,058476,487
2019-09-26$117.23$115.0019.3%5.6%18.9%19.8%19.6%4.0%0.3%22.9M-454.2M-14.2M0.679.77N/AN/A24,99916,816374,905488,751
2019-09-27$117.62$115.0020.0%5.8%17.4%22.7%20.2%4.6%0.3%29.2M-564.7M-14.6M1.158.03N/AN/A21,42124,623386,503494,134
2019-09-30$117.74$115.0019.6%5.6%17.4%21.3%19.7%4.6%0.0%37.9M-500.2M-14.2M0.656.22N/AN/A17,39711,320368,087486,486