JPM Options History — March 2020

In March 2020, JPM traded between $79.27 and $119.61. ATM implied volatility averaged 74.3%, placing in the 76.9% IV rank vs the trailing year. The 30-day expected move averaged 21.2%. IV traded below realized volatility by 13.6% (HV 20d: 87.8%). Max pain ranged from $115.00 to $130.00. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 1 of 22 days. Put/call ratio averaged 0.97.

Notable Days

  • 2020-03-18: Highest Volume — 114,362 contracts
  • 2020-03-05: Largest IV spike — 46.8% change
  • 2020-03-06: Highest IV Rank — 100.0%
  • 2020-03-18: Largest Expected Move — 34.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$96.49$79.27$119.61$119.61$89.85
Max Pain$124.77$115.00$130.00$130.00$115.00
ATM IV74.3%33.1%119.0%37.3%64.3%
Expected Move21.2%9.7%34.1%11.4%18.8%
HV 20d87.8%42.3%122.8%42.7%119.4%
HV 60d54.1%28.5%73.2%28.7%73.2%
IV Rank76.9%48.1%100.0%61.4%48.1%
IV Percentile98.3%93.7%100.0%99.6%93.7%
Term Structure-3.0%-10.4%2.0%-1.9%-2.0%
VWIV74.9%37.1%118.2%38.4%63.6%
Skew 25d25.9%11.3%40.8%11.7%19.7%
Skew 10d54.0%24.2%83.4%24.2%39.5%
Call IV 25d62.6%28.0%99.7%33.0%55.2%
Put IV 25d88.5%39.2%140.5%44.7%75.0%
Bid-Ask Spread %10.385.3522.947.915.35
Gamma HHI0.070.040.090.080.09
Net GEX-15.9M-31.8M-114.8K-23.7M-14.3M
Net DEX2.13B1.32B2.88B1.48B1.90B
Net VEX-13.8M-15.3M-10.8M-15.2M-13.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.970.462.830.460.74
Total Volume89,981.31856,916114,36275,74956,916
Total OI1,077,019.909954,0021,231,690954,0021,058,826

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-03-02$119.61$130.0037.3%11.4%42.7%61.4%38.4%11.7%-1.9%-23.7M1.48B-15.2M0.467.91N/AN/A51,76323,986492,985461,017
2020-03-03$117.65$130.0040.6%12.5%42.4%70.1%44.8%14.5%-1.2%-24.1M1.70B-15.0M0.607.94N/AN/A48,98129,403507,451470,897
2020-03-04$119.42$130.0033.1%9.7%42.3%50.5%37.1%11.3%-1.1%-26.1M1.57B-14.7M0.908.79N/AN/A36,62332,785527,712481,746
2020-03-05$112.82$130.0048.5%12.3%45.2%90.7%39.5%17.7%-1.9%-28.2M2.12B-14.5M1.077.68N/AN/A46,35949,706535,549487,013
2020-03-06$108.03$130.0055.9%14.5%46.4%100.0%52.9%24.3%-2.6%-31.8M2.50B-14.2M0.827.01N/AN/A57,80647,382553,413508,889
2020-03-09$94.10$130.0073.5%19.7%64.2%100.0%65.8%29.0%-4.1%-22.3M2.88B-11.6M1.335.93N/AN/A44,67259,639536,575503,625
2020-03-10$100.74$130.0067.0%18.7%71.1%89.2%67.0%24.5%-2.0%-23.5M2.49B-13.8M0.878.13N/AN/A56,47449,049555,391509,443
2020-03-11$95.85$130.0080.3%21.9%71.7%100.0%75.1%30.7%-3.8%-19.6M2.61B-13.6M2.839.14N/AN/A26,48374,846573,829527,869
2020-03-12$89.48$130.0094.7%26.0%73.4%100.0%87.9%38.0%-5.8%-18.7M2.74B-13.1M1.1411.42N/AN/A48,56455,269584,439553,491
2020-03-13$99.48$125.0081.2%21.9%86.2%83.3%80.0%28.5%-10.4%-10.7M2.38B-15.1M1.3619.66N/AN/A44,53160,376599,856564,979
2020-03-16$89.06$125.00101.5%28.5%92.3%100.0%102.5%40.4%-3.6%-15.9M2.58B-13.4M0.8512.19N/AN/A41,19935,108586,538555,354
2020-03-17$93.99$125.0093.3%26.5%96.1%90.7%91.2%36.4%-4.9%-13.8M2.33B-14.9M0.789.56N/AN/A47,87437,308601,679565,326
2020-03-18$80.99$125.00119.0%34.1%105.7%100.0%118.2%40.8%-7.0%-12.2M2.52B-12.6M0.6522.94N/AN/A69,30945,053616,183565,565
2020-03-19$85.78$125.0099.6%28.8%109.5%81.6%104.0%35.0%-4.2%-11.5M2.40B-13.6M0.9019.45N/AN/A57,19351,279650,290568,705
2020-03-20$83.42$125.0090.3%25.8%109.5%72.8%98.1%29.5%2.0%-12.1M2.49B-12.8M1.0618.90N/AN/A48,76051,847654,991576,699
2020-03-23$79.27$120.0089.0%26.7%109.9%71.6%93.4%29.8%-1.4%-12.1M2.17B-10.8M0.886.53N/AN/A36,63132,203490,854487,328
2020-03-24$88.32$120.0073.9%22.0%119.3%57.2%79.2%18.7%-4.2%-10.4M1.92B-12.8M0.689.06N/AN/A53,02636,177505,458498,109
2020-03-25$93.96$120.0078.2%22.4%122.5%61.3%81.6%23.8%-2.1%-4.0M1.49B-14.9M0.9510.16N/AN/A51,85949,249519,265504,156
2020-03-26$95.85$120.0070.6%21.6%122.8%54.0%72.6%20.8%-1.3%-114.8K1.32B-15.3M0.777.40N/AN/A49,24337,879529,372516,037
2020-03-27$91.67$115.0075.8%22.8%121.0%59.0%85.6%21.6%-1.7%-4.4M1.61B-14.6M1.207.32N/AN/A36,68543,914544,437530,656
2020-03-30$93.38$115.0066.5%20.4%119.1%50.2%69.1%22.2%-1.6%-9.9M1.66B-14.3M0.615.81N/AN/A41,11525,065522,039510,402
2020-03-31$89.85$115.0064.3%18.8%119.4%48.1%63.6%19.7%-2.0%-14.3M1.90B-13.2M0.745.35N/AN/A32,66424,252539,552519,274