JPM Options History — May 2020

In May 2020, JPM traded between $83.52 and $101.26. ATM implied volatility averaged 44.0%, placing in the 28.8% IV rank vs the trailing year. The 30-day expected move averaged 12.6%. IV traded below realized volatility by 9.5% (HV 20d: 53.5%). Max pain ranged from $90.00 to $105.00. Net GEX was positive for 9 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 0.57.

Notable Days

  • 2020-05-26: Highest Volume — 254,492 contracts
  • 2020-05-13: Largest IV spike — 19.0% change
  • 2020-05-13: Highest IV Rank — 34.7%
  • 2020-05-04: Largest Expected Move — 14.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$91.62$83.52$101.26$93.26$97.65
Max Pain$98.13$90.00$105.00$90.00$95.00
ATM IV44.0%40.0%50.2%49.3%42.7%
Expected Move12.6%11.3%14.4%14.3%11.8%
HV 20d53.5%41.5%69.3%69.3%55.0%
HV 60d85.5%84.1%86.9%84.1%86.6%
IV Rank28.8%25.0%34.7%33.8%27.6%
IV Percentile81.9%77.4%86.1%85.7%80.6%
Term Structure0.3%-2.0%1.2%0.4%0.4%
VWIV43.9%40.2%52.3%52.3%41.1%
Skew 25d8.7%5.5%10.9%10.1%7.2%
Skew 10d17.3%13.2%22.8%22.0%13.8%
Call IV 25d40.4%36.6%45.8%45.0%39.3%
Put IV 25d49.1%44.1%56.5%55.2%46.5%
Bid-Ask Spread %3.832.115.274.652.49
Gamma HHI0.080.050.260.060.07
Net GEX1.2M-44.2M37.0M-5.4M15.1M
Net DEX1.19B-644.1M2.31B1.21B157.6M
Net VEX-16.1M-19.1M-13.5M-16.0M-18.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.570.330.840.620.56
Total Volume121,063.261,225254,49292,924107,203
Total OI1,284,597.651,145,4211,411,3101,191,9351,411,310

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-05-01$93.26$90.0049.3%14.3%69.3%33.8%52.3%10.1%0.4%-5.4M1.21B-16.0M0.624.65N/AN/A57,45235,472612,326579,609
2020-05-04$92.33$105.0048.6%14.4%67.0%33.2%49.6%10.8%0.2%-4.0M1.28B-15.6M0.704.46N/AN/A35,97625,249589,566555,855
2020-05-05$92.12$105.0046.2%13.6%63.2%30.9%45.1%10.5%0.2%-5.4M1.34B-15.3M0.664.67N/AN/A44,15329,098598,221568,643
2020-05-06$90.51$105.0045.7%13.3%62.6%30.4%45.5%9.1%0.7%-15.0M1.54B-14.9M0.744.02N/AN/A40,81330,193606,179575,107
2020-05-07$91.23$100.0043.7%12.9%62.0%28.5%42.4%9.5%0.2%-8.3M1.45B-15.2M0.425.01N/AN/A55,77123,542625,353588,524
2020-05-08$92.81$100.0040.8%11.6%51.1%25.8%41.3%9.3%1.1%28.5M1.18B-15.5M0.754.65N/AN/A60,71545,268643,522594,983
2020-05-11$90.08$100.0041.4%12.1%49.9%26.4%41.4%7.8%0.7%-12.5M1.61B-14.7M0.553.79N/AN/A68,09437,625624,974582,005
2020-05-12$87.66$100.0042.2%12.0%49.9%27.1%41.9%7.3%-0.2%-26.2M1.90B-14.0M0.424.83N/AN/A92,14738,420644,600596,162
2020-05-13$83.52$100.0050.2%14.1%48.8%34.7%48.9%10.6%-1.3%-31.5M2.31B-13.5M0.704.05N/AN/A90,42562,850693,743619,376
2020-05-14$87.58$100.0049.9%13.8%50.6%34.4%48.8%10.9%-2.0%-8.8M1.67B-15.6M0.415.01N/AN/A149,33361,074724,776634,650
2020-05-15$85.42$100.0047.9%13.7%41.5%32.5%48.0%9.6%-0.2%-44.2M2.03B-14.8M0.684.97N/AN/A70,40347,600738,104646,451
2020-05-18$91.12$97.5042.2%12.1%46.5%27.1%42.6%9.4%1.1%10.4M1.19B-16.4M0.333.09N/AN/A96,61532,248655,153590,877
2020-05-19$89.08$95.0043.3%12.4%46.5%28.2%44.4%8.7%0.1%9.7M1.44B-16.1M0.845.27N/AN/A60,98351,356680,021599,957
2020-05-20$91.27$95.0040.8%11.7%47.3%25.7%41.0%8.1%0.1%19.2M1.13B-16.8M0.452.24N/AN/A73,58633,063699,597630,060
2020-05-21$89.90$95.0041.1%11.7%47.6%26.1%40.7%7.4%1.2%9.7M1.39B-16.6M0.512.24N/AN/A51,40226,273708,539641,838
2020-05-22$89.27$95.0040.0%11.3%47.4%25.0%40.2%7.5%1.1%-3.3M1.56B-16.3M0.582.11N/AN/A51,88930,213719,634651,326
2020-05-26$96.45$95.0041.0%11.8%53.1%26.0%41.4%5.5%0.9%25.7M326.3M-18.0M0.453.20N/AN/A175,28679,206688,087628,414
2020-05-27$101.26$95.0041.9%12.0%55.7%26.9%40.8%7.2%-0.0%37.0M-644.1M-19.0M0.442.75N/AN/A156,61569,297713,884639,021
2020-05-28$99.91$95.0041.5%11.6%55.3%26.5%41.2%7.7%0.5%33.9M-336.2M-19.1M0.623.01N/AN/A76,77247,584734,866656,640
2020-05-29$97.65$95.0042.7%11.8%55.0%27.6%41.1%7.2%0.4%15.1M157.6M-18.7M0.562.49N/AN/A68,78038,423741,342669,968