JPM Options History — August 2023

In August 2023, JPM traded between $145.91 and $156.93. ATM implied volatility averaged 19.3%, placing in the 13.2% IV rank vs the trailing year. The 30-day expected move averaged 5.5%. IV traded above realized volatility by 4.0% (HV 20d: 15.3%). Max pain ranged from $140.00 to $150.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 18 of 23 days. Put/call ratio averaged 0.94.

Notable Days

  • 2023-08-15: Highest Volume — 122,223 contracts
  • 2023-08-15: Largest IV spike — 16.3% change
  • 2023-08-22: Highest IV Rank — 23.3%
  • 2023-08-22: Largest Expected Move — 6.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$151.29$145.91$156.93$156.93$146.26
Max Pain$141.57$140.00$150.00$150.00$140.00
ATM IV19.3%16.3%22.2%16.3%18.5%
Expected Move5.5%4.5%6.3%4.5%5.0%
HV 20d15.3%11.9%16.8%16.0%16.6%
HV 60d17.6%16.7%18.4%17.7%17.5%
IV Rank13.2%2.4%23.3%2.4%10.4%
IV Percentile15.3%0.8%39.7%0.8%9.9%
Term Structure0.4%-0.6%1.6%0.0%1.3%
VWIV19.4%16.5%21.6%16.5%18.1%
Skew 25d4.2%2.5%5.5%2.5%3.9%
Skew 10d8.4%5.4%10.6%5.4%9.0%
Call IV 25d17.5%15.5%19.6%15.5%16.6%
Put IV 25d21.7%18.0%25.1%18.0%20.4%
Bid-Ask Spread %1.731.252.452.182.02
Gamma HHI0.120.080.170.170.08
Net GEX91.2M9.9M177.6M174.0M14.7M
Net DEX-2.42B-4.16B-837.5M-4.16B-962.5M
Net VEX-23.8M-24.8M-22.7M-24.0M-22.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.940.531.621.020.69
Total Volume54,517.78334,849122,22344,68464,620
Total OI1,261,958.2611,167,2231,303,3051,270,1121,260,753

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-08-01$156.93$150.0016.3%4.5%16.0%2.4%16.5%2.5%0.0%174.0M-4.16B-24.0M1.022.18N/AN/A22,15622,528624,617645,495
2023-08-02$155.38$150.0018.4%5.2%15.5%10.1%18.7%3.6%-0.2%148.2M-3.70B-24.4M1.122.16N/AN/A27,75531,022631,679652,023
2023-08-03$156.28$140.0018.3%5.5%14.6%9.5%19.2%3.6%-0.1%173.3M-3.97B-24.7M0.701.25N/AN/A22,21515,634636,351654,060
2023-08-04$155.92$140.0018.9%5.5%14.5%11.7%19.1%3.5%-0.2%154.0M-3.86B-24.4M0.831.58N/AN/A28,40523,607638,383656,976
2023-08-07$156.80$140.0017.5%5.4%14.5%6.7%19.0%3.6%1.3%177.6M-4.09B-24.0M0.971.59N/AN/A17,97417,375623,651643,267
2023-08-08$155.76$140.0019.1%5.6%14.1%12.3%20.1%4.2%0.3%153.5M-3.67B-24.8M1.112.09N/AN/A30,66233,959625,952650,727
2023-08-09$154.25$140.0019.1%5.5%14.7%12.5%19.6%3.9%0.1%130.7M-3.29B-24.3M0.781.60N/AN/A19,54715,302628,666657,496
2023-08-10$153.19$140.0019.8%5.5%15.0%14.8%19.9%3.9%-0.6%113.8M-2.98B-24.0M0.851.37N/AN/A19,86416,884632,157659,645
2023-08-11$154.38$140.0018.1%5.3%15.1%8.9%19.4%3.7%0.6%139.3M-3.30B-23.8M1.271.70N/AN/A27,05134,343634,976661,940
2023-08-14$154.53$145.0018.3%5.3%11.9%9.4%17.6%4.0%0.3%144.5M-3.35B-23.5M0.541.32N/AN/A24,63513,366619,419655,963
2023-08-15$150.51$145.0021.2%6.1%15.1%19.9%21.1%5.1%0.0%69.9M-2.12B-23.3M1.291.44N/AN/A53,48468,739615,603658,267
2023-08-16$150.16$140.0021.0%6.0%15.0%19.2%21.1%5.0%-0.1%61.3M-2.06B-23.5M1.621.55N/AN/A20,72833,607623,282665,355
2023-08-17$148.41$140.0021.2%6.0%14.7%19.7%21.6%5.0%1.0%22.3M-1.55B-24.1M0.861.48N/AN/A31,35527,016625,618673,469
2023-08-18$149.12$140.0020.6%5.9%14.9%17.8%20.8%4.6%0.6%9.9M-1.71B-24.0M1.071.65N/AN/A27,79629,808627,900675,405
2023-08-21$150.00$140.0020.2%5.7%13.8%16.2%20.0%4.6%0.2%64.3M-1.89B-23.2M0.711.93N/AN/A28,12819,930535,327631,896
2023-08-22$145.91$140.0022.2%6.3%16.4%23.3%20.8%5.5%0.1%13.7M-837.5M-24.1M0.531.76N/AN/A56,60230,112546,412638,914
2023-08-23$147.41$140.0020.5%5.8%16.8%17.2%19.9%4.8%0.2%47.8M-1.33B-23.4M1.081.68N/AN/A27,26929,316572,997645,316
2023-08-24$147.27$143.0021.0%5.9%16.6%19.0%20.2%4.8%0.1%53.1M-1.32B-23.5M0.831.68N/AN/A29,56224,476581,936653,244
2023-08-25$147.18$143.0019.8%5.5%16.4%14.9%18.6%4.2%0.2%54.7M-1.20B-23.9M0.961.57N/AN/A31,22630,046587,125663,857
2023-08-28$147.36$140.0019.2%5.3%16.2%12.7%19.1%4.4%1.1%44.8M-1.30B-23.1M0.781.73N/AN/A19,89215,563571,243652,953
2023-08-29$148.69$140.0017.9%4.9%16.8%8.1%17.5%4.1%1.1%74.5M-1.65B-23.2M0.791.97N/AN/A22,80917,968577,775659,208
2023-08-30$148.00$140.0017.7%4.8%16.6%7.4%17.2%3.9%1.6%57.6M-1.45B-22.9M1.182.45N/AN/A22,77326,800581,834665,908
2023-08-31$146.26$140.0018.5%5.0%16.6%10.4%18.1%3.9%1.3%14.7M-962.5M-22.7M0.692.02N/AN/A38,13226,488587,475673,278