JPM Options History — April 2020

In April 2020, JPM traded between $83.29 and $103.17. ATM implied volatility averaged 55.8%, placing in the 40.0% IV rank vs the trailing year. The 30-day expected move averaged 16.0%. IV traded below realized volatility by 39.6% (HV 20d: 95.5%). Max pain ranged from $90.00 to $115.00. Net GEX was positive for 9 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.65.

Notable Days

  • 2020-04-14: Highest Volume — 243,685 contracts
  • 2020-04-06: Largest IV drop — 16.8% change
  • 2020-04-01: Highest IV Rank — 57.1%
  • 2020-04-01: Largest Expected Move — 22.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$92.17$83.29$103.17$83.78$95.56
Max Pain$92.86$90.00$115.00$115.00$90.00
ATM IV55.8%41.8%73.8%73.8%44.3%
Expected Move16.0%12.1%22.3%22.3%13.0%
HV 20d95.5%69.7%121.4%120.6%69.7%
HV 60d80.8%74.3%84.1%74.3%84.1%
IV Rank40.0%26.7%57.1%57.1%29.1%
IV Percentile90.0%84.5%95.2%95.2%84.9%
Term Structure-0.7%-4.2%1.4%-4.2%0.7%
VWIV56.1%43.5%76.9%76.9%46.3%
Skew 25d12.5%8.6%20.9%20.9%9.2%
Skew 10d25.9%17.5%39.8%39.6%18.4%
Call IV 25d50.3%37.7%64.8%64.8%40.5%
Put IV 25d62.9%46.3%85.6%85.6%49.6%
Bid-Ask Spread %5.972.1615.646.233.16
Gamma HHI0.060.040.080.080.06
Net GEX-1.4M-21.4M27.7M-20.2M9.3M
Net DEX1.35B296.0M2.31B2.22B891.7M
Net VEX-14.9M-17.3M-11.8M-11.8M-16.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.650.371.020.731.02
Total Volume118,181.47662,466243,68577,69164,838
Total OI1,135,5451,046,4531,279,0281,077,3611,178,003

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-04-01$83.78$115.0073.8%22.3%120.6%57.1%76.9%20.9%-4.2%-20.2M2.22B-11.8M0.736.23N/AN/A44,88132,810547,940529,421
2020-04-02$87.26$90.0067.9%19.1%121.3%51.5%66.7%19.0%-1.6%-18.3M2.01B-12.9M0.907.77N/AN/A48,74743,681564,329543,447
2020-04-03$83.29$90.0067.2%18.4%121.4%50.9%62.8%20.1%-1.1%-18.8M2.31B-12.3M0.719.96N/AN/A48,11234,187578,301561,207
2020-04-06$88.85$90.0056.0%15.7%114.9%40.2%52.3%15.9%-1.2%-6.4M1.72B-13.4M0.459.76N/AN/A51,63623,225553,622510,248
2020-04-07$91.62$90.0056.4%16.2%112.6%40.5%53.0%15.9%0.4%605.5K1.48B-14.1M0.3815.64N/AN/A75,26528,426561,550513,777
2020-04-08$93.80$90.0054.6%15.5%111.7%38.9%60.9%15.9%-0.0%6.2M1.32B-14.6M0.578.51N/AN/A39,81122,867571,484523,931
2020-04-09$103.17$90.0055.8%15.5%113.6%40.1%56.4%11.3%-2.3%14.9M296.0M-17.3M0.428.62N/AN/A155,52466,080584,128533,195
2020-04-13$98.69$95.0058.0%16.5%108.7%42.1%59.6%10.9%-1.1%4.9M984.0M-15.8M0.886.74N/AN/A83,90073,536560,324527,779
2020-04-14$95.99$95.0052.0%14.9%101.3%36.5%51.7%10.0%-0.5%-202.2K1.30B-15.0M0.785.65N/AN/A136,735106,950594,710561,033
2020-04-15$90.71$95.0058.5%16.8%101.7%42.6%58.1%10.1%-0.7%-15.5M1.77B-14.3M0.654.18N/AN/A94,26661,615622,740578,141
2020-04-16$87.58$95.0060.0%17.2%86.7%44.0%61.1%10.1%0.9%-21.4M2.01B-13.9M0.705.06N/AN/A91,23263,456648,113589,906
2020-04-17$94.90$95.0055.3%15.9%89.0%39.6%55.7%11.7%0.1%9.2M1.06B-16.0M0.576.67N/AN/A137,99878,932674,454604,574
2020-04-20$91.46$95.0059.1%17.1%89.5%43.1%59.4%10.1%-1.1%-1.1M1.20B-15.2M0.755.42N/AN/A69,22652,252546,994499,459
2020-04-21$89.40$95.0060.8%17.5%87.7%44.8%62.4%11.9%-1.4%-7.3M1.38B-15.0M0.872.16N/AN/A60,34952,689569,453525,609
2020-04-22$89.96$90.0058.0%16.6%79.0%42.1%57.4%11.3%-1.2%-6.3M1.36B-15.4M0.482.99N/AN/A42,19720,269589,149546,560
2020-04-23$89.83$90.0054.2%15.8%75.6%38.5%54.4%10.7%-1.1%-7.5M1.43B-15.0M0.683.42N/AN/A50,15633,909597,610550,815
2020-04-24$91.05$90.0050.1%14.2%75.4%34.6%49.8%9.5%-0.8%-2.8M1.32B-15.2M0.764.13N/AN/A55,33041,889607,901564,256
2020-04-27$94.88$90.0044.8%12.8%75.2%29.6%45.8%10.9%0.1%7.1M976.2M-16.0M0.413.01N/AN/A75,47131,279577,859545,392
2020-04-28$95.65$90.0043.6%12.4%75.0%28.5%43.9%9.4%0.0%16.0M828.0M-16.4M0.372.79N/AN/A65,50624,017597,519551,060
2020-04-29$98.19$90.0041.8%12.1%74.0%26.7%43.5%8.6%1.4%27.7M480.1M-16.8M0.553.44N/AN/A63,55735,005602,011558,441
2020-04-30$95.56$90.0044.3%13.0%69.7%29.1%46.3%9.2%0.7%9.3M891.7M-16.3M1.023.16N/AN/A32,11232,726608,064569,939