JPM Options History — November 2023

In November 2023, JPM traded between $139.37 and $155.79. ATM implied volatility averaged 16.9%, placing in the 5.7% IV rank vs the trailing year. The 30-day expected move averaged 4.9%. IV traded below realized volatility by 1.2% (HV 20d: 18.2%). Max pain ranged from $140.00 to $145.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 0.93.

Notable Days

  • 2023-11-14: Highest Volume — 79,820 contracts
  • 2023-11-14: Largest IV drop — 6.0% change
  • 2023-11-01: Highest IV Rank — 17.7%
  • 2023-11-01: Largest Expected Move — 5.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$148.81$139.37$155.79$139.37$155.79
Max Pain$142.62$140.00$145.00$145.00$145.00
ATM IV16.9%14.9%20.2%20.2%15.1%
Expected Move4.9%4.3%5.9%5.9%4.5%
HV 20d18.2%10.8%21.2%19.3%10.9%
HV 60d16.6%16.0%17.3%17.0%16.0%
IV Rank5.7%0.0%17.7%17.7%0.7%
IV Percentile5.1%0.0%23.4%23.4%0.4%
Term Structure0.3%-0.8%1.3%0.3%1.1%
VWIV17.8%15.1%21.8%19.8%16.3%
Skew 25d2.8%2.2%4.0%4.0%2.2%
Skew 10d5.9%4.7%8.1%8.1%4.8%
Call IV 25d15.5%13.7%18.2%18.2%13.7%
Put IV 25d18.3%15.9%22.1%22.1%15.9%
Bid-Ask Spread %2.211.386.012.352.94
Gamma HHI0.120.070.210.080.17
Net GEX107.7M-23.1M225.5M-23.1M167.7M
Net DEX-2.08B-3.41B128.0M128.0M-3.41B
Net VEX-20.0M-21.4M-18.7M-21.2M-18.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.930.621.571.360.94
Total Volume45,083.61923,91979,82051,00433,248
Total OI1,161,469.4761,066,6401,245,7041,180,0311,115,494

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-11-01$139.37$145.0020.2%5.9%19.3%17.7%19.8%4.0%0.3%-23.1M128.0M-21.2M1.362.35N/AN/A21,58329,421563,126616,905
2023-11-02$141.19$145.0019.0%5.8%20.0%13.2%21.0%3.6%0.4%3.5M-376.0M-21.3M0.681.69N/AN/A28,37419,247566,312621,263
2023-11-03$143.00$145.0018.3%5.3%19.7%10.4%19.3%3.0%0.6%38.8M-878.0M-21.4M0.671.67N/AN/A42,58928,465575,622628,267
2023-11-06$144.01$145.0018.0%5.3%19.8%9.5%18.4%3.3%0.2%50.6M-994.6M-20.9M0.951.47N/AN/A19,77518,821560,840613,796
2023-11-07$144.06$145.0017.8%5.2%19.6%8.6%18.5%3.2%0.3%54.3M-1.02B-20.6M1.571.57N/AN/A12,03218,848566,379619,483
2023-11-08$144.72$145.0017.5%5.2%19.6%7.5%21.8%3.3%0.5%70.7M-1.24B-20.3M0.871.63N/AN/A27,90124,292568,373625,460
2023-11-09$144.03$140.0018.3%5.3%19.7%10.5%18.7%3.4%0.2%53.4M-1.13B-20.7M1.141.47N/AN/A15,11717,195581,994638,364
2023-11-10$146.19$140.0017.3%5.1%19.8%6.6%18.2%3.0%0.9%168.0M-1.81B-20.0M1.121.70N/AN/A23,95026,941582,550645,573
2023-11-13$145.74$140.0018.1%5.2%19.9%9.6%20.0%3.2%-0.3%69.6M-1.48B-20.2M1.251.47N/AN/A16,60420,721554,492633,229
2023-11-14$148.84$140.0017.0%4.9%21.2%5.4%18.2%2.7%0.2%133.6M-2.36B-20.0M0.671.96N/AN/A47,83331,987561,030641,734
2023-11-15$149.76$140.0017.1%4.9%20.9%5.7%17.8%2.5%-0.1%159.5M-2.64B-20.1M0.621.51N/AN/A36,88222,812572,535650,466
2023-11-16$151.14$140.0017.1%4.9%21.0%5.7%18.4%2.3%0.1%165.5M-3.04B-19.6M0.871.69N/AN/A35,50630,858574,841654,672
2023-11-17$152.43$140.0017.0%4.9%20.1%5.3%17.3%2.5%-0.8%225.5M-3.32B-19.7M0.661.38N/AN/A43,80729,005580,537665,167
2023-11-20$153.68$140.0016.1%4.6%19.2%1.7%16.2%2.5%-0.2%128.6M-2.90B-19.5M0.932.29N/AN/A23,85022,171491,354575,286
2023-11-21$153.03$140.0015.6%4.5%19.4%0.0%15.4%2.5%-0.0%123.2M-2.78B-19.6M0.742.22N/AN/A17,24612,696499,433583,273
2023-11-22$153.38$140.0015.3%4.3%19.1%0.0%15.1%2.5%-0.1%129.7M-2.81B-19.7M0.722.44N/AN/A13,9349,985506,268587,252
2023-11-24$153.66$145.0015.2%4.4%19.1%0.0%15.5%2.2%-0.2%128.7M-2.94B-19.3M0.853.17N/AN/A14,18312,084510,604590,279
2023-11-27$153.22$145.0015.5%4.5%11.2%1.2%15.9%2.5%0.9%128.6M-2.77B-19.2M1.272.76N/AN/A11,28314,384502,658577,897
2023-11-28$153.62$145.0015.3%4.5%10.9%0.4%16.0%2.3%1.3%138.1M-2.92B-18.7M0.826.01N/AN/A14,63512,001507,159583,153
2023-11-29$154.25$145.0014.9%4.4%10.8%0.0%16.3%2.2%0.6%147.0M-2.97B-19.3M0.883.03N/AN/A23,66920,821510,591587,148
2023-11-30$155.79$145.0015.1%4.5%10.9%0.7%16.3%2.2%1.1%167.7M-3.41B-18.9M0.942.94N/AN/A17,11716,131519,832595,662