JPM Options History — March 2021

In March 2021, JPM traded between $149.15 and $157.51. ATM implied volatility averaged 28.7%, placing in the 3.5% IV rank vs the trailing year. The 30-day expected move averaged 8.3%. IV traded above realized volatility by 6.8% (HV 20d: 21.9%). Max pain ranged from $135.00 to $150.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 12 of 23 days. Put/call ratio averaged 0.64.

Notable Days

  • 2021-03-18: Highest Volume — 198,213 contracts
  • 2021-03-05: Largest IV drop — 7.6% change
  • 2021-03-04: Highest IV Rank — 6.3%
  • 2021-03-04: Largest Expected Move — 9.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$152.97$149.15$157.51$151.24$152.41
Max Pain$146.52$135.00$150.00$135.00$150.00
ATM IV28.7%27.1%31.9%28.8%28.0%
Expected Move8.3%7.8%9.2%7.9%8.4%
HV 20d21.9%18.8%24.9%19.3%22.7%
HV 60d24.2%23.9%24.5%24.1%24.4%
IV Rank3.5%1.6%6.3%3.0%4.2%
IV Percentile13.6%3.6%34.1%14.3%9.9%
Term Structure0.1%-1.0%1.4%-0.1%-0.2%
VWIV29.7%27.8%32.6%27.8%29.6%
Skew 25d1.4%-1.0%5.2%1.8%0.7%
Skew 10d3.6%-1.2%7.5%7.5%2.9%
Call IV 25d28.9%27.8%32.3%29.0%28.9%
Put IV 25d30.4%28.2%34.2%30.7%29.6%
Bid-Ask Spread %10.362.8532.405.4914.11
Gamma HHI0.130.070.230.150.11
Net GEX103.3M32.2M181.7M110.3M54.3M
Net DEX-3.78B-5.18B-1.92B-4.14B-2.46B
Net VEX-17.4M-18.7M-15.9M-18.4M-17.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.640.330.960.620.60
Total Volume77,970.08735,403198,21370,41256,630
Total OI1,035,157.478877,3081,160,4651,042,531944,592

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-03-01$151.24$135.0028.8%7.9%19.3%3.0%27.8%1.8%-0.1%110.3M-4.14B-18.4M0.625.49N/AN/A43,39427,018530,517512,014
2021-03-02$150.43$135.0028.2%7.9%19.8%2.3%28.0%1.9%0.4%111.0M-4.01B-18.0M0.834.45N/AN/A19,39216,011543,761520,076
2021-03-03$153.47$135.0030.3%8.6%18.8%4.6%30.8%-1.0%0.2%123.4M-4.62B-18.4M0.765.60N/AN/A44,20133,462546,578524,923
2021-03-04$150.70$150.0031.9%9.2%20.7%6.3%32.6%1.9%-0.3%97.3M-4.00B-18.7M0.8732.40N/AN/A41,83136,350558,315534,765
2021-03-05$150.82$150.0029.4%8.7%20.1%3.7%30.3%2.5%0.1%101.4M-4.02B-18.5M0.7626.10N/AN/A28,17721,406554,096538,351
2021-03-08$153.51$150.0030.5%8.9%20.6%4.8%31.8%2.1%0.4%125.4M-4.52B-17.3M0.5425.42N/AN/A37,24020,064541,985521,217
2021-03-09$152.24$150.0028.8%8.6%20.9%3.0%30.6%5.2%1.4%122.2M-4.27B-17.0M0.4015.67N/AN/A40,18215,948546,979527,345
2021-03-10$155.08$145.0029.4%8.6%21.2%3.7%30.7%1.8%0.9%143.3M-4.76B-18.1M0.3313.42N/AN/A65,02721,142551,359532,091
2021-03-11$154.23$145.0028.5%8.3%21.5%2.7%29.5%1.8%0.5%163.7M-4.74B-16.8M0.967.75N/AN/A37,74036,388571,482535,129
2021-03-12$155.97$145.0029.1%8.5%21.5%3.4%30.1%1.7%0.4%151.5M-5.14B-16.8M0.4214.27N/AN/A58,28124,769572,600540,969
2021-03-15$154.85$145.0028.8%8.3%21.7%3.0%30.0%1.3%-0.5%152.5M-4.70B-17.1M0.373.15N/AN/A49,65218,303562,432531,735
2021-03-16$153.79$145.0027.5%7.9%20.6%1.6%28.2%1.2%-0.1%139.6M-4.50B-16.1M0.923.52N/AN/A26,87124,808563,633539,494
2021-03-17$154.82$145.0027.6%7.9%20.6%1.7%28.3%1.3%-0.3%145.4M-4.74B-15.9M0.5412.43N/AN/A42,69523,257565,763546,762
2021-03-18$157.51$145.0028.7%8.2%21.1%2.9%29.4%1.4%0.2%181.7M-5.18B-17.2M0.573.59N/AN/A126,63371,580569,632553,340
2021-03-19$151.89$150.0028.3%8.1%24.7%3.1%29.6%1.3%-0.1%33.9M-3.89B-17.4M0.8915.49N/AN/A87,03477,864584,170576,295
2021-03-22$150.97$150.0027.1%7.8%24.8%1.7%28.5%0.3%0.2%41.4M-2.28B-17.4M0.662.85N/AN/A55,69536,573434,385442,923
2021-03-23$149.15$150.0027.6%8.0%24.9%2.5%28.6%1.2%-0.1%32.2M-1.92B-17.4M0.675.18N/AN/A46,63231,105452,740458,261
2021-03-24$151.09$150.0028.3%8.2%24.6%4.4%29.5%1.1%0.1%52.2M-2.27B-17.7M0.573.14N/AN/A47,20926,840462,159466,964
2021-03-25$152.66$150.0028.4%8.3%24.5%4.7%29.8%1.4%-0.3%64.4M-2.54B-17.4M0.823.86N/AN/A36,51529,870465,114474,391
2021-03-26$154.23$150.0027.5%8.1%23.6%3.1%29.3%1.3%-0.3%88.2M-2.86B-17.5M0.6311.58N/AN/A50,43031,660473,964482,532
2021-03-29$152.89$150.0028.5%8.3%23.1%5.1%30.1%0.5%-1.0%57.8M-2.57B-16.9M0.584.95N/AN/A41,45424,052452,667465,193
2021-03-30$154.46$150.0028.2%8.2%23.3%4.5%29.4%0.5%0.0%82.2M-2.87B-17.3M0.433.77N/AN/A43,45618,471463,188471,741
2021-03-31$152.41$150.0028.0%8.4%22.7%4.2%29.6%0.7%-0.2%54.3M-2.46B-17.5M0.6014.11N/AN/A35,41821,212469,078475,514