JPM Options History — September 2023

In September 2023, JPM traded between $143.69 and $149.34. ATM implied volatility averaged 21.8%, placing in the 21.9% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded above realized volatility by 6.3% (HV 20d: 15.4%). Max pain ranged from $140.00 to $145.00. Net GEX was positive for 14 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 0.92.

Notable Days

  • 2023-09-14: Highest Volume — 96,556 contracts
  • 2023-09-21: Largest IV spike — 8.1% change
  • 2023-09-27: Highest IV Rank — 36.5%
  • 2023-09-27: Largest Expected Move — 7.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$146.43$143.69$149.34$147.01$145.39
Max Pain$144.75$140.00$145.00$140.00$145.00
ATM IV21.8%17.9%25.9%17.9%24.8%
Expected Move6.4%4.7%7.7%4.7%7.5%
HV 20d15.4%13.1%17.6%16.9%14.8%
HV 60d17.2%15.7%18.1%17.4%15.9%
IV Rank21.9%8.1%36.5%8.1%32.4%
IV Percentile38.3%6.3%64.3%6.3%61.9%
Term Structure0.2%-0.8%2.3%1.4%-0.4%
VWIV22.2%15.8%26.9%15.8%25.3%
Skew 25d4.5%3.4%5.3%3.4%4.8%
Skew 10d8.7%6.5%10.5%6.5%9.0%
Call IV 25d19.9%15.8%23.7%15.8%22.9%
Put IV 25d24.4%19.3%28.9%19.3%27.6%
Bid-Ask Spread %1.821.462.671.971.74
Gamma HHI0.070.060.160.090.06
Net GEX20.3M-23.7M116.6M28.4M-11.5M
Net DEX-896.7M-2.07B-359.6M-1.26B-457.6M
Net VEX-22.3M-22.8M-21.6M-22.3M-22.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.920.361.760.660.94
Total Volume61,433.931,51896,55668,91249,416
Total OI1,169,483.71,002,3331,318,3201,275,9971,111,839

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-09-01$147.01$140.0017.9%4.7%16.9%8.1%15.8%3.4%1.4%28.4M-1.26B-22.3M0.661.97N/AN/A41,52227,390597,541678,456
2023-09-05$145.56$145.0019.1%6.1%16.7%12.2%20.7%4.8%2.0%4.4M-778.2M-22.2M0.731.71N/AN/A37,11927,170579,671669,994
2023-09-06$145.19$145.0019.4%6.2%16.7%13.4%21.7%4.4%2.2%4.5M-775.6M-22.5M1.761.60N/AN/A28,61850,498587,647673,578
2023-09-07$143.69$145.0020.3%6.2%16.7%16.7%21.6%4.9%2.3%-23.7M-386.0M-22.4M1.062.08N/AN/A32,60034,429593,868677,590
2023-09-08$143.72$145.0019.8%6.1%16.7%14.9%21.0%4.2%2.3%-18.1M-381.1M-22.3M1.261.81N/AN/A34,71243,628598,795683,990
2023-09-11$144.24$145.0020.7%5.9%16.4%18.2%20.9%4.5%-0.7%-3.9M-583.8M-21.7M1.132.64N/AN/A32,17536,303588,436680,618
2023-09-12$146.42$145.0021.1%6.1%17.6%19.3%21.2%4.1%0.1%42.9M-1.20B-22.1M0.921.49N/AN/A41,36238,238596,052687,187
2023-09-13$146.22$145.0021.3%6.1%15.2%20.2%21.1%4.5%0.0%38.1M-1.13B-22.1M1.021.46N/AN/A35,02335,772603,120693,804
2023-09-14$149.34$145.0020.3%5.7%17.2%16.8%20.1%4.0%-0.7%116.6M-2.07B-21.7M0.701.75N/AN/A56,82539,731606,946697,271
2023-09-15$148.56$145.0020.8%5.8%16.8%18.3%21.4%4.0%-0.7%58.3M-1.70B-21.8M0.791.57N/AN/A37,65129,763608,623709,697
2023-09-18$148.97$145.0020.9%5.9%16.7%18.8%20.9%4.4%-0.4%38.3M-1.23B-21.6M0.991.69N/AN/A23,64623,475441,130561,203
2023-09-19$148.93$145.0021.3%6.1%16.6%20.0%21.8%4.2%-0.5%42.9M-1.21B-21.8M0.631.73N/AN/A28,93118,194449,771570,849
2023-09-20$148.31$145.0021.6%6.2%13.2%21.3%20.2%4.3%-0.4%44.0M-1.08B-22.0M0.361.89N/AN/A49,16517,665459,907576,169
2023-09-21$147.13$145.0023.4%6.7%13.1%27.5%24.1%5.0%-0.7%19.5M-794.3M-22.6M1.061.84N/AN/A23,02324,398479,817582,141
2023-09-22$145.94$145.0023.3%6.7%13.4%27.2%23.5%4.9%-0.8%-18.1M-517.4M-22.6M0.871.73N/AN/A27,81724,152484,846588,831
2023-09-25$145.91$145.0024.1%7.1%13.4%30.3%24.8%5.0%-0.3%6.1M-555.5M-22.5M0.841.68N/AN/A25,56621,575469,831576,481
2023-09-26$144.91$145.0025.5%7.5%13.5%35.1%26.8%5.3%-0.2%-4.0M-359.6M-22.7M1.161.75N/AN/A14,59616,922478,181586,881
2023-09-27$145.41$145.0025.9%7.7%13.1%36.5%26.9%5.2%-0.3%233.6K-453.1M-22.8M0.901.65N/AN/A19,20717,350481,521592,653
2023-09-28$147.68$145.0024.2%7.2%14.3%30.4%24.2%4.8%-0.7%41.8M-1.01B-22.7M0.522.67N/AN/A41,36921,682486,887597,852
2023-09-29$145.39$145.0024.8%7.5%14.8%32.4%25.3%4.8%-0.4%-11.5M-457.6M-22.7M0.941.74N/AN/A25,49623,920508,783603,056