JPM Options History — April 2023

In April 2023, JPM traded between $127.53 and $141.71. ATM implied volatility averaged 23.5%, placing in the 19.1% IV rank vs the trailing year. The 30-day expected move averaged 6.7%. IV traded below realized volatility by 9.0% (HV 20d: 32.5%). Max pain ranged from $125.00 to $140.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 4 of 19 days. Put/call ratio averaged 0.83.

Notable Days

  • 2023-04-14: Highest Volume — 511,425 contracts
  • 2023-04-14: Largest IV drop — 24.0% change
  • 2023-04-05: Highest IV Rank — 42.2%
  • 2023-04-05: Largest Expected Move — 9.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$134.64$127.53$141.71$130.16$137.94
Max Pain$132.11$125.00$140.00$133.00$140.00
ATM IV23.5%18.0%29.6%27.0%19.2%
Expected Move6.7%5.0%9.0%8.1%5.3%
HV 20d32.5%26.4%38.9%38.9%31.1%
HV 60d28.8%26.4%30.5%27.3%30.5%
IV Rank19.1%0.0%42.2%31.2%4.9%
IV Percentile21.6%0.0%56.7%30.2%2.0%
Term Structure-0.4%-1.5%0.7%-0.5%0.3%
VWIV23.9%18.0%31.3%28.0%19.2%
Skew 25d5.1%3.3%7.0%5.5%4.9%
Skew 10d10.1%6.3%14.0%10.7%9.6%
Call IV 25d21.2%15.8%26.8%24.7%17.0%
Put IV 25d26.4%20.2%33.7%30.2%21.9%
Bid-Ask Spread %2.241.692.972.122.55
Gamma HHI0.100.050.230.060.09
Net GEX95.3M9.6M225.1M53.7M43.4M
Net DEX-1.35B-3.87B552.4M-37.0M-1.40B
Net VEX-26.4M-28.0M-25.1M-26.2M-27.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.830.291.250.751.25
Total Volume122,965.21157,272511,42572,91661,882
Total OI1,437,240.4741,308,5641,596,5091,385,6901,411,689

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-04-03$130.16$133.0027.0%8.1%38.9%31.2%28.0%5.5%-0.5%53.7M-37.0M-26.2M0.752.12N/AN/A41,76531,151684,460701,230
2023-04-04$128.09$133.0029.3%8.9%38.0%40.7%30.9%6.5%-0.3%9.6M552.4M-26.1M0.292.89N/AN/A124,19636,464694,514710,385
2023-04-05$127.66$134.0029.6%9.0%38.0%42.2%31.3%7.0%-0.3%15.6M499.4M-26.5M0.492.08N/AN/A57,16727,877703,879721,512
2023-04-06$127.53$130.0029.1%7.8%32.7%40.0%29.1%6.5%-0.5%19.6M388.2M-26.4M0.931.95N/AN/A40,10937,421716,734714,300
2023-04-10$127.63$125.0029.5%8.0%31.6%41.6%29.8%6.1%-1.5%22.8M254.0M-25.9M0.931.89N/AN/A34,52732,275693,736695,462
2023-04-11$128.64$125.0028.6%7.8%31.7%37.9%28.9%5.5%-1.1%39.7M-21.4M-25.9M0.822.04N/AN/A31,51025,762707,306708,189
2023-04-12$128.66$125.0028.0%7.7%31.0%35.4%27.8%5.6%-1.0%38.4M4.5M-26.0M0.671.80N/AN/A39,70926,633710,944714,993
2023-04-13$128.86$125.0027.5%7.6%26.4%33.6%28.4%5.3%-1.4%38.1M-35.5M-25.8M0.662.87N/AN/A95,56762,976716,316725,142
2023-04-14$138.85$125.0020.9%5.9%36.7%6.7%21.8%3.3%-0.5%210.2M-3.42B-25.6M0.721.94N/AN/A297,040214,385740,516755,982
2023-04-17$139.44$130.0019.2%5.5%33.2%0.0%20.5%3.6%0.7%194.0M-2.94B-25.4M0.722.11N/AN/A78,38556,082703,887749,812
2023-04-18$141.71$130.0019.2%5.5%33.4%0.2%19.6%3.6%-0.2%215.7M-3.87B-25.1M0.801.69N/AN/A86,48569,460719,595771,898
2023-04-19$141.19$130.0018.6%5.3%32.3%0.0%18.1%3.8%0.2%205.8M-3.60B-25.7M1.161.88N/AN/A36,30242,093740,777797,122
2023-04-20$140.57$135.0018.8%5.4%31.0%0.7%18.8%4.4%-0.1%225.1M-3.31B-26.7M0.722.34N/AN/A87,98963,606749,696811,545
2023-04-21$140.68$135.0018.1%5.2%30.7%0.0%18.6%4.4%0.2%181.5M-3.43B-27.0M0.751.86N/AN/A70,71953,293768,795827,714
2023-04-24$140.80$135.0018.0%5.0%29.8%0.0%18.0%4.4%-0.0%138.1M-2.35B-26.7M0.992.77N/AN/A48,44348,180616,450692,114
2023-04-25$137.84$140.0021.8%6.2%29.7%15.0%22.0%6.0%-0.2%74.6M-1.35B-28.0M0.992.97N/AN/A47,56647,318642,698720,958
2023-04-26$134.91$140.0023.7%6.7%30.9%22.0%23.9%6.4%-0.3%25.6M-463.6M-27.8M1.212.59N/AN/A52,71064,010648,312724,788
2023-04-27$137.09$140.0020.6%5.8%31.2%10.3%20.0%5.3%-0.1%59.3M-1.13B-27.6M0.812.23N/AN/A36,05229,230653,260740,859
2023-04-28$137.94$140.0019.2%5.3%31.1%4.9%19.2%4.9%0.3%43.4M-1.40B-27.3M1.252.55N/AN/A27,49834,384665,653746,036