JPM Options History — August 2020

In August 2020, JPM traded between $95.26 and $103.81. ATM implied volatility averaged 32.4%, placing in the 17.8% IV rank vs the trailing year. The 30-day expected move averaged 9.3%. IV traded above realized volatility by 6.4% (HV 20d: 26.0%). Max pain ranged from $95.00 to $100.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 0.34.

Notable Days

  • 2020-08-11: Highest Volume — 373,626 contracts
  • 2020-08-27: Largest IV spike — 7.7% change
  • 2020-08-31: Highest IV Rank — 20.6%
  • 2020-08-31: Largest Expected Move — 9.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$99.70$95.26$103.81$96.52$100.44
Max Pain$99.29$95.00$100.00$95.00$100.00
ATM IV32.4%30.2%35.3%32.5%35.3%
Expected Move9.3%8.6%9.9%9.2%9.9%
HV 20d26.0%22.2%30.4%30.4%27.0%
HV 60d41.5%35.2%47.0%47.0%35.2%
IV Rank17.8%15.7%20.6%17.9%20.6%
IV Percentile56.2%51.2%61.1%58.3%61.1%
Term Structure0.4%-0.4%1.2%-0.3%0.9%
VWIV33.0%30.7%35.6%32.1%35.6%
Skew 25d1.9%0.6%3.1%3.0%2.8%
Skew 10d4.1%0.6%6.9%5.3%5.4%
Call IV 25d32.2%30.2%34.5%31.6%34.5%
Put IV 25d34.1%31.8%37.3%34.7%37.3%
Bid-Ask Spread %2.811.545.463.043.00
Gamma HHI0.080.050.120.060.09
Net GEX73.9M1.6M143.2M26.1M64.5M
Net DEX-132.1M-1.55B910.4M586.1M-162.3M
Net VEX-20.1M-21.6M-18.6M-19.5M-20.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.340.180.660.320.55
Total Volume157,126.85765,419373,62679,859108,138
Total OI1,552,315.4291,404,5691,668,4271,462,0621,508,388

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-08-03$96.52$95.0032.5%9.2%30.4%17.9%32.1%3.0%-0.3%26.1M586.1M-19.5M0.323.04N/AN/A60,42019,439815,115646,947
2020-08-04$95.26$95.0032.2%9.1%29.0%17.6%32.0%2.5%-0.4%5.0M910.4M-19.1M0.444.09N/AN/A45,42519,994823,127656,087
2020-08-05$97.28$95.0031.9%8.9%29.7%17.4%31.4%3.1%-0.0%43.4M381.8M-19.8M0.183.23N/AN/A149,76326,955836,275665,428
2020-08-06$97.13$100.0032.1%9.5%28.6%17.5%33.5%1.6%0.1%55.3M329.3M-20.0M0.252.61N/AN/A112,99328,454876,695672,714
2020-08-07$99.20$100.0032.7%9.5%22.2%18.1%34.2%0.6%-0.1%140.5M-378.9M-20.8M0.313.42N/AN/A162,86350,712898,855683,768
2020-08-10$100.69$100.0033.3%9.7%22.4%18.6%34.4%0.8%0.4%109.3M-664.5M-20.9M0.253.47N/AN/A204,76651,133860,822655,558
2020-08-11$103.81$100.0034.0%9.8%24.3%19.3%35.4%1.9%0.3%143.2M-1.55B-21.6M0.295.46N/AN/A289,41684,210890,957678,227
2020-08-12$103.10$100.0033.4%9.6%24.3%18.7%34.7%1.5%0.0%131.0M-1.17B-21.3M0.364.09N/AN/A138,38249,212896,273700,081
2020-08-13$102.05$100.0033.0%9.7%24.6%18.4%33.6%2.2%0.9%127.6M-819.6M-21.1M0.342.20N/AN/A81,14427,572921,739702,786
2020-08-14$102.40$100.0033.1%9.7%23.9%18.4%33.6%1.8%1.2%125.1M-953.5M-20.8M0.292.91N/AN/A102,51630,212939,947707,512
2020-08-17$99.81$100.0031.9%9.2%25.6%17.3%32.5%2.2%0.4%61.2M15.1M-19.5M0.271.54N/AN/A112,99430,641896,483677,862
2020-08-18$98.35$100.0031.2%8.9%25.4%16.6%32.2%2.0%0.5%35.7M450.5M-19.2M0.592.00N/AN/A63,09837,163903,421688,809
2020-08-19$98.67$100.0031.0%8.9%25.3%16.5%31.6%2.5%1.1%46.2M336.8M-19.2M0.402.04N/AN/A79,47331,695922,231700,367
2020-08-20$97.38$100.0031.1%8.9%25.7%16.6%31.6%2.3%-0.2%1.6M766.5M-18.8M0.501.70N/AN/A66,59833,498932,706713,587
2020-08-21$97.12$100.0030.2%8.6%25.7%15.7%31.7%1.6%0.4%6.5M773.3M-18.6M0.661.90N/AN/A75,91249,842946,912721,515
2020-08-24$99.91$100.0030.4%8.6%26.9%15.9%30.7%1.8%0.5%46.3M115.8M-19.4M0.232.38N/AN/A128,30230,038765,753638,816
2020-08-25$100.24$100.0030.5%8.6%26.8%16.0%30.7%1.6%0.3%76.2M-100.6M-19.8M0.192.31N/AN/A136,75226,135808,107647,326
2020-08-26$99.45$100.0031.9%9.1%26.0%17.3%31.6%1.8%0.7%64.6M127.8M-19.7M0.182.25N/AN/A126,78123,291826,822656,058
2020-08-27$102.41$100.0034.3%9.8%25.9%19.6%34.7%1.4%0.7%126.5M-857.7M-21.2M0.202.41N/AN/A222,62945,505869,795664,896
2020-08-28$102.42$100.0034.2%9.6%25.7%19.5%34.4%1.3%1.1%116.2M-912.6M-21.5M0.262.85N/AN/A107,69527,903904,428675,429
2020-08-31$100.44$100.0035.3%9.9%27.0%20.6%35.6%2.8%0.9%64.5M-162.3M-20.7M0.553.00N/AN/A69,76738,371857,985650,403