JPM Options History — July 2020

In July 2020, JPM traded between $91.20 and $99.98. ATM implied volatility averaged 38.1%, placing in the 23.2% IV rank vs the trailing year. The 30-day expected move averaged 10.8%. IV traded below realized volatility by 0.4% (HV 20d: 38.4%). Max pain ranged from $95.00 to $95.00. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 9 of 22 days. Put/call ratio averaged 0.35.

Notable Days

  • 2020-07-13: Highest Volume — 416,733 contracts
  • 2020-07-14: Largest IV drop — 11.0% change
  • 2020-07-09: Highest IV Rank — 32.5%
  • 2020-07-09: Largest Expected Move — 13.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$96.70$91.20$99.98$93.58$96.20
Max Pain$95.00$95.00$95.00$95.00$95.00
ATM IV38.1%31.4%47.9%42.0%32.2%
Expected Move10.8%9.0%13.1%12.7%9.3%
HV 20d38.4%29.8%48.3%48.3%31.5%
HV 60d49.7%46.6%56.4%56.4%47.0%
IV Rank23.2%16.9%32.5%26.9%17.7%
IV Percentile65.8%57.9%81.3%72.2%57.9%
Term Structure-0.3%-1.2%0.5%-0.6%0.4%
VWIV37.8%30.8%45.6%45.3%32.3%
Skew 25d2.4%-0.5%3.6%3.6%3.0%
Skew 10d4.5%-0.1%6.7%5.6%5.7%
Call IV 25d37.5%30.5%47.3%41.0%31.4%
Put IV 25d39.9%33.2%50.3%44.6%34.3%
Bid-Ask Spread %3.792.328.013.134.09
Gamma HHI0.070.060.140.070.06
Net GEX43.8M-13.8M123.6M4.4M15.0M
Net DEX315.0M-709.4M1.32B1.10B650.3M
Net VEX-20.3M-22.2M-18.5M-18.5M-19.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.350.180.720.250.72
Total Volume162,611.22788,943416,733176,99395,441
Total OI1,485,183.0451,342,5371,714,5551,384,1711,510,884

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-07-01$93.58$95.0042.0%12.7%48.3%26.9%45.3%3.6%-0.6%4.4M1.10B-18.5M0.253.13N/AN/A141,17435,819759,756624,415
2020-07-02$92.55$95.0040.1%12.0%47.7%25.1%42.8%2.6%-0.5%-13.8M1.32B-18.6M0.402.32N/AN/A121,12848,921790,481640,782
2020-07-06$94.73$95.0041.6%11.4%45.0%26.6%39.7%3.5%-0.7%20.2M771.0M-19.2M0.314.12N/AN/A104,66432,576750,639621,727
2020-07-07$92.10$95.0043.3%12.0%44.7%28.1%41.3%2.4%-0.8%3.6M1.20B-18.6M0.377.46N/AN/A94,51435,150783,651631,831
2020-07-08$93.01$95.0045.4%12.2%45.2%30.1%43.2%2.8%-1.0%15.8M931.4M-19.5M0.313.58N/AN/A96,58329,863808,850646,984
2020-07-09$91.20$95.0047.9%13.1%43.3%32.5%45.6%2.9%-1.2%-25.4K1.20B-19.6M0.375.18N/AN/A87,73832,528841,415661,347
2020-07-10$96.37$95.0046.9%12.9%38.9%31.6%45.0%1.6%-1.2%59.8M-66.8M-21.6M0.315.32N/AN/A211,25464,871872,010675,964
2020-07-13$97.44$95.0046.3%12.9%38.5%30.9%45.2%-0.5%-1.2%51.6M-167.1M-21.5M0.298.01N/AN/A323,68393,050841,813663,136
2020-07-14$98.83$95.0041.2%11.6%38.7%26.1%40.9%1.6%-0.5%80.1M-411.1M-21.4M0.414.87N/AN/A236,03596,959902,318702,924
2020-07-15$99.98$95.0039.5%11.2%38.7%24.5%39.2%1.6%-0.4%108.5M-709.4M-22.2M0.332.65N/AN/A159,72152,135932,042725,497
2020-07-16$99.95$95.0038.3%11.0%38.0%23.4%38.3%2.3%-0.0%123.6M-645.7M-22.0M0.333.53N/AN/A152,32350,561947,944743,241
2020-07-17$98.49$95.0035.6%10.1%38.3%20.8%36.0%1.5%-0.2%42.8M-16.1M-21.1M0.493.02N/AN/A88,76643,595964,594749,961
2020-07-20$97.67$95.0034.2%9.8%38.3%19.5%34.9%2.0%0.1%29.1M320.9M-20.5M0.282.66N/AN/A99,62228,103733,402609,135
2020-07-21$99.42$95.0034.9%10.0%38.7%20.2%34.7%2.5%0.4%59.9M-92.1M-21.0M0.182.84N/AN/A144,36126,210768,980620,681
2020-07-22$98.52$95.0034.2%9.8%38.6%19.5%34.1%2.3%0.4%57.9M67.1M-21.0M0.273.11N/AN/A95,46225,682807,302627,794
2020-07-23$98.62$95.0032.8%9.4%36.6%18.1%33.2%2.9%0.4%63.8M31.2M-21.0M0.472.63N/AN/A60,40228,541831,048636,669
2020-07-24$98.38$95.0033.0%9.5%35.4%18.4%32.7%2.9%0.2%60.7M131.7M-20.8M0.302.58N/AN/A81,53324,857832,319640,235
2020-07-27$96.74$95.0032.8%9.3%29.8%18.2%32.4%2.9%-0.1%28.7M529.3M-19.9M0.303.00N/AN/A69,19821,081787,262622,744
2020-07-28$97.42$95.0032.0%9.2%29.8%17.4%31.7%3.2%0.5%41.4M373.4M-19.9M0.282.66N/AN/A71,11419,569803,834626,787
2020-07-29$99.47$95.0031.4%9.0%30.0%16.9%30.8%2.7%0.2%83.8M-140.3M-20.4M0.332.63N/AN/A106,31934,862814,633636,224
2020-07-30$96.83$95.0032.4%9.2%31.7%17.8%32.1%3.3%0.2%26.1M551.0M-19.7M0.303.97N/AN/A85,93425,545836,430644,342
2020-07-31$96.20$95.0032.2%9.3%31.5%17.7%32.3%3.0%0.4%15.0M650.3M-19.5M0.724.09N/AN/A55,51739,924859,321651,563