JPM Options History — July 2023

In July 2023, JPM traded between $143.11 and $157.78. ATM implied volatility averaged 18.3%, placing in the 5.0% IV rank vs the trailing year. The 30-day expected move averaged 5.2%. IV traded below realized volatility by 1.3% (HV 20d: 19.6%). Max pain ranged from $135.00 to $150.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.59.

Notable Days

  • 2023-07-14: Highest Volume — 397,329 contracts
  • 2023-07-14: Largest IV drop — 20.7% change
  • 2023-07-10: Highest IV Rank — 14.6%
  • 2023-07-05: Largest Expected Move — 6.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$151.69$143.11$157.78$146.63$157.43
Max Pain$143.40$135.00$150.00$135.00$150.00
ATM IV18.3%15.6%21.6%18.9%16.3%
Expected Move5.2%4.3%6.0%5.6%4.5%
HV 20d19.6%15.9%21.6%19.0%15.9%
HV 60d21.2%18.1%25.0%24.5%18.1%
IV Rank5.0%0.0%14.6%3.9%2.3%
IV Percentile6.5%0.0%23.0%3.6%0.4%
Term Structure-0.2%-1.2%1.0%-0.2%0.2%
VWIV18.7%15.8%22.9%19.8%16.2%
Skew 25d2.5%1.9%3.5%2.7%2.7%
Skew 10d4.9%3.1%7.0%4.6%5.6%
Call IV 25d17.5%14.7%20.9%18.0%15.2%
Put IV 25d20.0%17.1%23.5%20.7%17.9%
Bid-Ask Spread %2.191.773.052.752.21
Gamma HHI0.160.100.230.130.18
Net GEX271.4M120.2M410.6M289.5M189.6M
Net DEX-4.14B-5.88B-1.90B-3.63B-4.42B
Net VEX-24.3M-25.7M-23.0M-24.5M-23.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.590.181.090.181.05
Total Volume131,226.1546,865397,329201,30170,757
Total OI1,344,986.851,231,9011,479,9691,312,0111,245,525

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-07-03$146.63$135.0018.9%5.6%19.0%3.9%19.8%2.7%-0.2%289.5M-3.63B-24.5M0.182.75N/AN/A171,00530,296689,122622,889
2023-07-05$144.61$140.0019.6%6.0%19.1%6.8%22.9%2.7%-0.4%188.3M-2.41B-24.7M0.682.15N/AN/A60,64741,350652,787630,771
2023-07-06$143.11$140.0021.2%5.7%19.6%12.8%21.8%3.5%-0.5%120.2M-1.90B-25.4M0.942.17N/AN/A50,25147,112673,219644,274
2023-07-07$144.76$140.0020.5%5.7%19.5%10.0%21.1%2.6%-0.3%250.9M-2.56B-25.7M0.581.87N/AN/A60,59535,092686,364658,562
2023-07-10$145.01$140.0021.6%6.0%19.5%14.6%20.5%3.1%-0.3%189.4M-2.65B-24.8M0.412.01N/AN/A50,54720,808666,427641,447
2023-07-11$147.56$140.0021.2%5.8%20.3%12.8%20.7%2.7%-1.0%239.1M-3.45B-25.4M0.521.77N/AN/A66,49234,726682,045648,684
2023-07-12$148.06$140.0020.9%5.7%20.3%11.8%20.6%2.3%-1.2%247.5M-3.65B-25.1M0.402.18N/AN/A93,42537,413693,049659,121
2023-07-13$149.01$140.0021.3%5.9%20.3%13.2%21.4%2.1%-1.0%263.4M-3.98B-24.9M0.412.51N/AN/A177,86973,237708,187670,938
2023-07-14$149.51$140.0016.9%4.8%20.1%0.0%17.6%1.9%-0.1%410.6M-4.27B-24.1M0.343.05N/AN/A296,237101,092784,018695,951
2023-07-17$153.55$145.0017.0%4.8%21.6%0.2%17.9%2.7%1.0%358.7M-5.26B-23.9M0.402.12N/AN/A135,44754,749723,063665,832
2023-07-18$153.88$145.0017.0%4.9%21.6%0.4%17.3%2.0%0.1%343.0M-5.26B-23.5M0.291.96N/AN/A97,32228,651721,903689,222
2023-07-19$154.61$145.0017.1%4.9%21.2%0.7%18.0%2.1%0.0%356.4M-5.39B-24.2M0.411.95N/AN/A104,69442,939728,208698,535
2023-07-20$156.22$145.0017.6%5.0%21.3%2.6%17.6%1.9%0.1%328.3M-5.88B-24.2M0.621.88N/AN/A68,96442,654735,802716,180
2023-07-21$155.38$145.0016.3%4.7%19.0%0.0%17.0%2.1%0.0%349.5M-5.62B-23.4M0.702.12N/AN/A57,84540,374744,339733,847
2023-07-24$157.78$145.0016.7%4.8%19.1%1.4%16.8%2.4%-0.1%286.5M-4.99B-23.0M0.631.95N/AN/A74,21747,055620,721611,180
2023-07-25$156.70$145.0016.8%4.8%19.6%1.7%17.5%2.9%-0.1%259.6M-4.51B-23.4M0.672.66N/AN/A63,71442,770626,117629,155
2023-07-26$157.51$148.0016.4%4.7%19.4%0.1%16.8%2.8%0.2%310.7M-4.78B-23.9M1.092.27N/AN/A22,40724,458648,966640,984
2023-07-27$155.84$150.0017.5%4.9%19.8%4.3%17.1%2.9%0.0%248.6M-4.04B-24.5M0.822.24N/AN/A46,98038,512652,319647,221
2023-07-28$156.59$150.0015.6%4.3%16.5%0.0%15.8%2.4%0.4%198.4M-4.24B-24.0M0.642.07N/AN/A43,74928,071661,600651,163
2023-07-31$157.43$150.0016.3%4.5%15.9%2.3%16.2%2.7%0.2%189.6M-4.42B-23.0M1.052.21N/AN/A34,48436,273616,676628,849