JPM Options History — September 2020

In September 2020, JPM traded between $92.62 and $103.76. ATM implied volatility averaged 37.2%, placing in the 22.3% IV rank vs the trailing year. The 30-day expected move averaged 10.7%. IV traded above realized volatility by 8.5% (HV 20d: 28.7%). Max pain ranged from $95.00 to $100.00. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 0.48.

Notable Days

  • 2020-09-03: Highest Volume — 252,774 contracts
  • 2020-09-09: Largest IV drop — 10.3% change
  • 2020-09-08: Highest IV Rank — 28.1%
  • 2020-09-08: Largest Expected Move — 12.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$98.32$92.62$103.76$99.87$96.22
Max Pain$98.62$95.00$100.00$100.00$95.00
ATM IV37.2%34.4%43.3%35.7%35.5%
Expected Move10.7%9.9%12.4%10.0%10.4%
HV 20d28.7%26.3%32.3%26.5%30.9%
HV 60d30.5%28.5%35.1%35.0%28.5%
IV Rank22.3%19.7%28.1%21.0%20.7%
IV Percentile60.0%54.0%72.6%61.5%55.2%
Term Structure0.6%-0.8%3.9%0.7%3.3%
VWIV37.8%35.3%43.0%35.6%36.5%
Skew 25d2.8%1.6%4.3%2.2%1.9%
Skew 10d4.9%1.9%9.2%4.1%3.9%
Call IV 25d36.8%34.6%41.8%35.5%35.3%
Put IV 25d39.5%36.6%46.1%37.7%37.3%
Bid-Ask Spread %8.552.5326.893.013.29
Gamma HHI0.080.060.170.090.07
Net GEX36.0M-55.5M136.6M54.9M36.3M
Net DEX313.5M-1.29B1.54B-24.9M567.4M
Net VEX-20.0M-22.6M-18.3M-21.1M-19.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.480.210.840.260.49
Total Volume129,401.90587,942252,77496,304107,712
Total OI1,506,078.7621,228,4661,704,2321,547,7041,353,380

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-09-01$99.87$100.0035.7%10.0%26.5%21.0%35.6%2.2%0.7%54.9M-24.9M-21.1M0.263.01N/AN/A76,29320,011876,849670,855
2020-09-02$101.76$100.0038.2%10.6%26.3%23.3%37.6%2.3%0.7%93.2M-646.2M-21.9M0.213.54N/AN/A94,63519,826897,448678,369
2020-09-03$101.15$100.0041.1%12.3%26.5%26.1%42.1%4.0%0.7%91.7M-508.5M-22.1M0.245.86N/AN/A204,17548,599914,395682,260
2020-09-04$103.76$100.0041.1%12.0%26.9%26.1%42.5%3.7%0.4%136.6M-1.29B-22.6M0.3621.65N/AN/A169,69961,134929,902691,200
2020-09-08$100.52$100.0043.3%12.4%29.0%28.1%43.0%4.3%0.3%60.4M-193.0M-21.3M0.4323.47N/AN/A100,83543,539894,468674,373
2020-09-09$101.36$100.0038.8%11.3%26.9%23.9%39.4%3.3%0.8%82.0M-404.9M-21.3M0.4919.09N/AN/A78,26738,663923,052689,516
2020-09-10$100.17$100.0038.5%11.1%27.1%23.6%38.8%2.7%0.5%52.0M10.1M-20.7M0.3726.89N/AN/A76,23227,870934,233704,948
2020-09-11$101.13$100.0036.2%10.6%27.2%21.4%36.8%3.0%1.0%106.2M-287.7M-20.5M0.506.15N/AN/A70,42935,563941,629712,988
2020-09-14$102.76$100.0035.0%10.1%27.8%20.3%36.2%3.3%0.2%89.0M-740.5M-20.3M0.524.46N/AN/A69,05636,185911,740689,999
2020-09-15$99.56$100.0035.9%10.4%28.6%21.2%36.7%2.1%-0.0%35.2M236.6M-19.8M0.5319.46N/AN/A83,02444,379934,826702,462
2020-09-16$99.97$100.0035.2%10.1%28.1%20.4%35.7%2.3%-0.2%39.4M112.1M-19.7M0.515.41N/AN/A69,99836,021952,639714,444
2020-09-17$98.12$100.0035.2%10.1%28.9%20.4%36.1%1.6%0.2%-11.0M770.0M-19.3M0.694.44N/AN/A60,28341,584961,741720,493
2020-09-18$98.84$100.0034.4%9.9%28.6%19.7%35.3%1.8%-0.1%-55.5M662.1M-19.3M0.8411.07N/AN/A102,57986,007972,557731,675
2020-09-21$94.84$100.0037.0%10.7%32.3%22.1%38.1%2.9%-0.4%-19.8M1.19B-18.4M0.502.71N/AN/A113,03656,228657,492570,974
2020-09-22$93.99$100.0036.4%10.5%30.4%21.6%37.4%2.5%-0.2%-22.5M1.32B-18.5M0.582.53N/AN/A55,57532,367689,223594,664
2020-09-23$92.92$96.0037.3%11.0%30.4%22.4%38.1%3.1%-0.4%-25.3M1.50B-18.3M0.532.77N/AN/A60,84132,393708,171603,530
2020-09-24$92.62$95.0038.1%10.9%30.4%23.2%38.9%3.8%-0.8%-25.8M1.54B-18.5M0.673.36N/AN/A68,69845,989722,856614,720
2020-09-25$93.16$95.0036.2%10.3%28.1%21.4%36.4%2.5%-0.5%-6.6M1.44B-18.7M0.572.76N/AN/A69,33739,253734,974634,478
2020-09-28$96.39$95.0035.0%10.1%31.3%20.2%35.6%2.5%3.4%22.3M585.2M-19.1M0.284.55N/AN/A114,25031,876703,683600,291
2020-09-29$95.51$95.0036.3%10.7%30.8%21.5%37.6%2.4%3.9%23.5M741.0M-19.2M0.463.06N/AN/A65,18929,810721,611608,546
2020-09-30$96.22$95.0035.5%10.4%30.9%20.7%36.5%1.9%3.3%36.3M567.4M-19.2M0.493.29N/AN/A72,11035,602734,747618,633