JPM Options History — December 2019

In December 2019, JPM traded between $129.68 and $139.18. ATM implied volatility averaged 17.3%, placing in the 12.6% IV rank vs the trailing year. The 30-day expected move averaged 5.1%. IV traded above realized volatility by 2.9% (HV 20d: 14.4%). Max pain ranged from $115.00 to $125.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 0.88.

Notable Days

  • 2019-12-12: Highest Volume — 114,997 contracts
  • 2019-12-03: Largest IV spike — 8.0% change
  • 2019-12-31: Highest IV Rank — 19.4%
  • 2019-12-31: Largest Expected Move — 5.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$136.18$129.68$139.18$131.61$139.18
Max Pain$119.29$115.00$125.00$125.00$120.00
ATM IV17.3%16.6%18.5%17.2%17.7%
Expected Move5.1%4.8%5.4%5.0%5.4%
HV 20d14.4%7.5%16.7%7.5%16.7%
HV 60d17.8%16.3%18.4%17.8%16.3%
IV Rank12.6%9.0%19.4%11.4%19.4%
IV Percentile25.4%19.0%37.7%21.4%34.1%
Term Structure0.3%-1.0%2.3%0.0%0.2%
VWIV18.9%17.1%21.5%18.9%18.9%
Skew 25d3.2%2.1%4.5%3.9%2.6%
Skew 10d6.2%4.0%9.2%5.8%6.3%
Call IV 25d16.2%14.7%17.3%16.3%17.0%
Put IV 25d19.4%17.4%21.5%20.2%19.6%
Bid-Ask Spread %3.662.585.694.123.44
Gamma HHI0.130.100.200.120.13
Net GEX130.5M75.9M170.0M115.8M126.1M
Net DEX-3.30B-4.26B-2.03B-2.65B-3.10B
Net VEX-14.7M-15.3M-14.3M-14.8M-15.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.880.302.531.410.54
Total Volume56,622.85718,486114,99748,33333,671
Total OI1,109,598.9521,021,4821,214,1091,043,7851,071,755

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-12-02$131.61$125.0017.2%5.0%7.5%11.4%18.9%3.9%0.0%115.8M-2.65B-14.8M1.414.12N/AN/A20,04828,285503,526540,259
2019-12-03$129.68$125.0018.5%5.4%8.9%16.9%19.5%4.4%-0.2%75.9M-2.03B-15.0M1.662.90N/AN/A22,93438,173508,481554,946
2019-12-04$132.35$125.0017.7%5.1%11.4%13.5%18.4%4.3%0.1%126.7M-2.83B-14.4M1.103.93N/AN/A26,50829,157510,092557,929
2019-12-05$133.22$115.0017.0%5.1%11.5%10.8%21.4%4.0%0.0%137.3M-3.03B-14.8M2.535.48N/AN/A19,56649,501519,899571,919
2019-12-06$135.42$115.0016.9%5.2%12.5%10.3%19.3%3.5%-0.1%144.3M-3.68B-14.7M0.673.82N/AN/A46,51131,005526,378592,165
2019-12-09$134.58$115.0017.3%5.3%12.8%11.7%21.5%4.2%1.3%128.6M-3.23B-14.7M1.733.98N/AN/A17,81030,765522,973581,797
2019-12-10$134.27$115.0017.6%5.4%12.8%13.2%19.7%4.3%1.1%124.8M-3.11B-15.0M0.952.87N/AN/A24,73423,458527,276591,747
2019-12-11$134.25$115.0017.3%5.4%12.6%11.7%20.9%4.5%1.4%127.4M-3.16B-14.7M0.904.54N/AN/A17,53715,730530,932599,621
2019-12-12$138.25$115.0017.8%5.3%15.6%14.0%19.7%2.9%0.8%138.9M-4.26B-14.3M0.594.56N/AN/A72,23342,764536,394605,004
2019-12-13$136.89$120.0016.6%5.2%16.3%9.0%19.2%2.7%2.3%145.5M-3.91B-14.9M0.585.69N/AN/A56,79332,965556,183621,270
2019-12-16$137.42$120.0017.2%5.1%16.3%11.5%18.0%2.7%-1.0%144.1M-3.94B-14.3M0.483.01N/AN/A47,16622,866546,908609,212
2019-12-17$138.47$120.0016.6%4.8%16.2%9.1%17.1%2.6%0.3%145.9M-4.18B-14.3M0.493.25N/AN/A35,24017,270557,914616,977
2019-12-18$138.35$120.0016.9%4.8%16.3%10.3%18.3%2.7%0.2%148.5M-4.04B-14.7M0.713.33N/AN/A24,46117,416569,114626,616
2019-12-19$137.32$120.0017.3%5.0%16.3%12.0%18.7%2.7%-0.6%141.6M-3.75B-14.8M0.392.58N/AN/A33,10512,905570,683633,698
2019-12-20$137.01$120.0017.3%5.0%16.4%12.0%17.6%2.5%-0.8%159.0M-3.72B-14.7M0.533.73N/AN/A54,92329,151579,031635,078
2019-12-23$137.35$120.0016.7%4.9%16.4%9.3%17.3%2.3%0.5%101.2M-2.70B-14.5M0.732.86N/AN/A23,14616,798485,676535,806
2019-12-24$137.46$120.0016.8%4.9%16.4%10.1%17.6%2.3%0.3%110.9M-2.75B-14.5M1.052.82N/AN/A9,0389,448494,341545,284
2019-12-26$139.03$120.0017.4%5.1%16.7%13.9%18.1%2.1%0.2%125.5M-3.15B-14.7M0.533.80N/AN/A33,65817,740497,071552,469
2019-12-27$139.08$120.0017.9%5.2%16.7%16.8%18.5%2.3%0.2%170.0M-3.19B-15.1M0.533.00N/AN/A29,98216,011505,489562,250
2019-12-30$138.61$120.0017.6%5.3%16.7%16.6%19.0%2.8%0.3%101.9M-2.87B-14.8M0.303.12N/AN/A45,03013,578494,192553,223
2019-12-31$139.18$120.0017.7%5.4%16.7%19.4%18.9%2.6%0.2%126.1M-3.10B-15.3M0.543.44N/AN/A21,88111,790513,140558,615