JPM Options History — December 2020

In December 2020, JPM traded between $118.24 and $126.74. ATM implied volatility averaged 30.1%, placing in the 15.6% IV rank vs the trailing year. The 30-day expected move averaged 8.8%. IV traded below realized volatility by 1.9% (HV 20d: 32.0%). Max pain ranged from $100.00 to $110.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 15 of 22 days. Put/call ratio averaged 0.56.

Notable Days

  • 2020-12-21: Highest Volume — 202,695 contracts
  • 2020-12-07: Largest IV spike — 8.3% change
  • 2020-12-21: Highest IV Rank — 17.1%
  • 2020-12-07: Largest Expected Move — 9.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$122.07$118.24$126.74$119.72$126.74
Max Pain$109.09$100.00$110.00$100.00$110.00
ATM IV30.1%27.8%31.7%28.5%28.8%
Expected Move8.8%8.0%9.3%8.4%8.3%
HV 20d32.0%22.4%57.1%57.1%22.4%
HV 60d39.1%38.2%40.4%40.4%38.7%
IV Rank15.6%13.4%17.1%14.1%14.4%
IV Percentile26.6%14.7%32.9%26.2%19.8%
Term Structure0.5%-1.0%2.3%2.3%0.4%
VWIV31.4%28.3%33.5%30.0%29.4%
Skew 25d2.5%0.9%4.3%3.2%1.9%
Skew 10d4.9%-2.2%11.8%6.4%4.2%
Call IV 25d29.4%26.5%31.1%27.5%29.0%
Put IV 25d32.0%29.5%34.4%30.7%31.0%
Bid-Ask Spread %2.971.927.432.602.78
Gamma HHI0.100.080.130.100.13
Net GEX107.9M74.8M152.2M89.0M152.2M
Net DEX-3.39B-4.18B-2.41B-3.39B-3.45B
Net VEX-16.7M-18.0M-15.5M-17.7M-15.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.560.380.820.480.58
Total Volume77,135.27343,256202,69580,08165,905
Total OI1,416,742.1821,189,7661,538,5991,456,4471,304,247

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-12-01$119.72$100.0028.5%8.4%57.1%14.1%30.0%3.2%2.3%89.0M-3.39B-17.7M0.482.60N/AN/A53,97126,110736,545719,902
2020-12-02$122.22$100.0028.8%8.5%56.2%14.3%30.3%2.9%2.2%114.2M-4.00B-18.0M0.422.79N/AN/A66,18128,088752,612726,416
2020-12-03$120.64$110.0028.9%8.9%54.7%14.5%31.8%2.5%2.2%111.7M-3.67B-18.0M0.495.84N/AN/A36,82517,909774,131733,941
2020-12-04$122.22$110.0029.2%8.9%53.6%14.8%31.7%1.3%2.1%151.1M-4.18B-17.6M0.432.65N/AN/A67,47828,865778,723738,533
2020-12-07$121.49$110.0031.6%9.3%53.5%17.0%33.5%2.7%0.7%98.3M-3.80B-17.4M0.513.04N/AN/A36,65118,615756,743719,466
2020-12-08$122.06$110.0030.6%9.2%26.5%16.1%32.3%2.5%1.1%106.0M-4.03B-17.1M0.672.41N/AN/A28,00618,825765,164726,214
2020-12-09$121.17$110.0030.7%9.1%26.2%16.2%32.2%1.7%0.8%104.2M-3.75B-17.1M0.593.11N/AN/A33,65119,763769,255727,898
2020-12-10$120.41$110.0031.0%9.1%25.4%16.4%32.4%2.2%0.8%98.0M-3.58B-17.1M0.523.09N/AN/A32,62216,833774,448732,082
2020-12-11$119.53$110.0031.2%9.1%24.8%16.7%32.8%2.2%1.0%91.9M-3.31B-17.3M0.802.13N/AN/A36,07928,802779,169735,571
2020-12-14$118.24$110.0031.2%9.0%24.7%16.7%32.5%3.6%-0.4%88.6M-2.99B-16.5M0.442.72N/AN/A42,12818,675762,496721,780
2020-12-15$120.26$110.0031.0%8.9%24.9%16.5%31.7%3.8%-0.7%103.0M-3.52B-16.5M0.592.13N/AN/A42,53425,115769,255729,803
2020-12-16$120.67$110.0031.0%8.9%24.8%16.5%31.7%3.6%-1.0%111.6M-3.66B-16.6M0.827.43N/AN/A23,82519,431778,556736,227
2020-12-17$119.83$110.0030.3%8.7%25.0%15.8%30.9%3.0%-0.6%105.3M-3.45B-16.2M0.514.62N/AN/A40,73720,742783,149741,340
2020-12-18$118.73$110.0030.0%8.7%25.2%15.5%30.7%3.5%-0.5%74.8M-3.12B-16.2M0.682.75N/AN/A58,68439,891789,117749,482
2020-12-21$123.61$110.0031.7%9.2%28.6%17.1%32.3%2.9%-0.4%91.5M-2.69B-16.5M0.382.65N/AN/A146,48556,210604,458585,308
2020-12-22$122.08$110.0030.0%8.8%27.6%15.5%30.9%2.8%0.0%95.0M-2.41B-16.4M0.611.95N/AN/A60,14236,901641,029606,386
2020-12-23$125.37$110.0030.6%9.0%25.5%16.1%31.6%0.9%-0.1%134.4M-3.32B-16.3M0.502.02N/AN/A97,23649,074655,127621,093
2020-12-24$124.24$110.0029.7%8.7%25.6%15.2%30.9%4.3%0.0%102.9M-2.93B-16.6M0.472.40N/AN/A40,05918,822671,543639,391
2020-12-28$125.48$110.0029.7%8.8%25.6%15.3%31.0%1.1%0.3%116.8M-3.18B-15.8M0.591.92N/AN/A51,02430,040647,754615,095
2020-12-29$125.27$110.0029.7%8.7%23.6%15.2%31.0%1.6%0.1%113.1M-3.08B-15.9M0.612.09N/AN/A42,35425,857656,977623,197
2020-12-30$125.58$110.0027.8%8.0%23.3%13.4%28.3%1.7%0.4%120.0M-3.11B-15.6M0.592.22N/AN/A31,27718,554657,353631,352
2020-12-31$126.74$110.0028.8%8.3%22.4%14.4%29.4%1.9%0.4%152.2M-3.45B-15.5M0.582.78N/AN/A41,72624,179664,193640,054