JPM Options History — February 2023

In February 2023, JPM traded between $137.84 and $143.68. ATM implied volatility averaged 21.6%, placing in the 9.4% IV rank vs the trailing year. The 30-day expected move averaged 6.2%. IV traded above realized volatility by 3.1% (HV 20d: 18.5%). Max pain ranged from $130.00 to $135.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 12 of 19 days. Put/call ratio averaged 0.95.

Notable Days

  • 2023-02-03: Highest Volume — 94,919 contracts
  • 2023-02-16: Largest IV spike — 12.4% change
  • 2023-02-22: Highest IV Rank — 20.1%
  • 2023-02-22: Largest Expected Move — 6.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$141.44$137.84$143.68$140.31$143.50
Max Pain$130.79$130.00$135.00$135.00$135.00
ATM IV21.6%19.5%24.2%19.8%21.6%
Expected Move6.2%5.6%6.9%6.0%6.1%
HV 20d18.5%14.8%21.5%20.4%17.1%
HV 60d18.9%18.2%20.3%20.3%18.4%
IV Rank9.4%0.8%20.1%2.1%9.7%
IV Percentile5.4%0.4%14.3%0.4%6.3%
Term Structure0.3%-0.4%1.2%0.2%0.8%
VWIV22.4%20.7%28.6%21.0%21.5%
Skew 25d4.6%4.1%5.6%4.1%4.5%
Skew 10d9.2%7.9%11.6%8.2%8.7%
Call IV 25d19.4%17.7%21.7%17.7%19.3%
Put IV 25d24.1%21.8%27.3%21.8%23.8%
Bid-Ask Spread %1.931.523.183.182.30
Gamma HHI0.100.070.130.100.12
Net GEX89.2M11.3M143.7M96.0M87.9M
Net DEX-2.15B-2.92B-1.04B-2.10B-2.42B
Net VEX-24.3M-25.1M-23.5M-23.8M-24.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.950.552.090.820.55
Total Volume58,675.10542,59694,91956,28548,017
Total OI1,192,301.5791,128,1191,254,5701,159,9771,189,048

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-02-01$140.31$135.0019.8%6.0%20.4%2.1%21.0%4.1%0.2%96.0M-2.10B-23.8M0.823.18N/AN/A30,96625,319518,615641,362
2023-02-02$138.76$130.0020.6%5.9%20.8%5.2%21.5%4.4%0.2%68.9M-1.65B-24.1M0.781.80N/AN/A32,75925,442522,029651,184
2023-02-03$140.31$130.0020.8%6.2%21.0%6.4%21.9%4.2%0.1%103.1M-2.04B-24.7M0.642.05N/AN/A57,99136,928527,765658,051
2023-02-06$142.00$130.0020.8%6.3%20.3%6.3%21.6%4.5%1.2%102.4M-2.37B-24.7M0.761.79N/AN/A28,03121,404518,434650,264
2023-02-07$143.66$130.0020.4%5.9%20.4%4.5%21.5%4.2%0.1%133.6M-2.92B-23.8M0.822.21N/AN/A41,83434,232530,647659,506
2023-02-08$142.79$130.0021.4%6.0%20.5%8.5%21.5%4.3%-0.4%112.0M-2.60B-24.7M0.581.90N/AN/A33,55819,627536,805671,457
2023-02-09$140.34$130.0023.0%6.7%21.4%15.2%23.4%4.7%0.5%73.1M-1.94B-25.1M0.691.98N/AN/A30,81121,229542,441675,708
2023-02-10$141.06$130.0022.7%6.7%21.5%13.9%28.6%4.6%0.8%98.9M-2.13B-25.0M2.091.96N/AN/A20,86443,601547,295678,106
2023-02-13$142.53$130.0021.2%6.1%19.7%7.9%23.0%4.8%1.2%109.0M-2.45B-24.7M0.821.59N/AN/A25,85921,147531,426669,180
2023-02-14$143.49$130.0019.9%5.7%19.2%2.5%20.7%4.4%1.2%136.3M-2.75B-23.9M1.041.55N/AN/A24,08024,999539,002676,392
2023-02-15$143.68$130.0019.5%5.6%14.9%0.8%21.3%4.3%1.1%143.7M-2.83B-23.5M1.251.59N/AN/A18,93723,659544,591686,087
2023-02-16$141.91$130.0021.9%6.3%14.8%10.5%22.0%4.5%-0.3%101.0M-2.29B-24.0M1.301.52N/AN/A21,68128,222549,891692,680
2023-02-17$142.37$130.0021.8%6.3%14.8%10.1%22.6%4.7%-0.3%72.8M-2.40B-24.2M1.341.57N/AN/A35,08446,854554,223700,347
2023-02-21$139.74$130.0023.8%6.7%15.8%18.3%24.1%5.6%-0.1%37.3M-1.43B-24.4M1.001.95N/AN/A23,98723,931505,930622,189
2023-02-22$137.84$130.0024.2%6.9%16.5%20.1%22.8%5.6%-0.2%11.3M-1.04B-24.4M0.951.86N/AN/A27,96126,536515,270629,956
2023-02-23$139.81$130.0022.1%6.2%17.1%11.6%22.9%5.0%-0.0%43.0M-1.51B-24.3M0.781.87N/AN/A32,38925,375525,987639,135
2023-02-24$140.86$130.0022.4%6.3%17.2%12.9%22.4%5.0%-0.4%93.4M-1.81B-24.4M0.981.95N/AN/A39,56438,803537,946644,313
2023-02-27$142.41$135.0022.1%6.2%17.4%11.3%21.6%4.7%0.8%70.8M-2.11B-24.4M0.862.00N/AN/A28,60224,544523,385647,083
2023-02-28$143.50$135.0021.6%6.1%17.1%9.7%21.5%4.5%0.8%87.9M-2.42B-24.1M0.552.30N/AN/A30,89217,125534,795654,253