JPM Options History — February 2025

In February 2025, JPM traded between $257.58 and $279.90. ATM implied volatility averaged 20.5%, placing in the 29.6% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded above realized volatility by 2.8% (HV 20d: 17.7%). Max pain ranged from $240.00 to $250.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 18 of 19 days. Put/call ratio averaged 0.82.

Notable Days

  • 2025-02-20: Highest Volume — 146,246 contracts
  • 2025-02-21: Largest IV spike — 11.3% change
  • 2025-02-27: Highest IV Rank — 60.2%
  • 2025-02-27: Largest Expected Move — 7.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$269.72$257.58$279.90$267.63$263.05
Max Pain$242.63$240.00$250.00$245.00$245.00
ATM IV20.5%18.6%25.3%19.1%23.7%
Expected Move6.0%5.2%7.4%5.5%7.0%
HV 20d17.7%12.3%23.1%15.6%23.1%
HV 60d20.1%17.4%30.1%30.1%20.4%
IV Rank29.6%17.7%60.2%20.8%50.1%
IV Percentile49.2%29.0%90.1%37.3%77.8%
Term Structure0.3%-0.1%0.6%0.4%0.5%
VWIV21.4%19.0%26.0%20.9%23.6%
Skew 25d3.6%2.7%4.6%3.3%4.2%
Skew 10d7.4%5.4%10.0%6.6%9.2%
Call IV 25d18.9%17.0%23.3%18.2%22.1%
Put IV 25d22.6%20.1%27.9%21.5%26.3%
Bid-Ask Spread %16.641.9640.7540.013.34
Gamma HHI0.110.060.160.110.09
Net GEX139.1M31.4M227.3M131.1M114.8M
Net DEX-4.56B-6.21B-2.21B-4.64B-3.12B
Net VEX-20.3M-21.9M-18.8M-19.3M-21.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.820.401.421.420.59
Total Volume66,834.47428,112146,24651,35076,355
Total OI704,009.579657,623759,091665,902698,484

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-02-03$267.63$245.0019.1%5.5%15.6%20.8%20.9%3.3%0.4%131.1M-4.64B-19.3M1.4240.01N/AN/A21,17730,173324,127341,775
2025-02-04$267.79$245.0018.9%5.5%15.6%19.5%19.6%3.2%0.4%140.8M-4.68B-19.9M0.8840.75N/AN/A14,93113,181328,664345,934
2025-02-05$270.33$245.0018.7%5.2%15.0%18.0%19.0%3.1%0.5%174.7M-5.04B-19.9M1.3519.45N/AN/A13,22117,896333,484351,749
2025-02-06$276.23$240.0019.1%5.7%16.0%20.5%20.9%2.7%0.4%211.2M-5.93B-19.4M0.9833.86N/AN/A38,37237,418336,396358,130
2025-02-07$276.29$240.0019.4%5.7%16.0%22.5%20.8%3.1%0.4%172.7M-5.97B-18.9M0.6733.02N/AN/A55,95037,553345,454370,032
2025-02-10$271.13$240.0019.6%5.7%17.1%23.8%20.2%3.5%0.3%130.2M-4.75B-21.1M0.6529.66N/AN/A41,19626,957336,543356,104
2025-02-11$275.00$240.0019.4%5.6%16.9%22.3%19.7%3.5%0.3%184.8M-5.53B-20.2M0.4034.28N/AN/A46,37918,477347,078360,483
2025-02-12$275.75$240.0019.5%5.7%17.0%23.5%20.4%3.3%0.3%200.3M-5.71B-19.7M1.0728.67N/AN/A30,84233,135353,549366,681
2025-02-13$276.77$240.0019.1%5.6%14.0%20.8%20.7%3.3%0.4%227.3M-5.89B-20.0M0.4314.64N/AN/A41,30117,750361,870375,769
2025-02-14$276.64$240.0018.6%5.4%14.1%17.7%19.0%3.1%0.5%217.8M-5.86B-20.5M0.593.43N/AN/A42,12625,051371,266379,983
2025-02-18$279.25$240.0018.9%5.4%12.9%19.2%20.2%3.3%0.1%199.1M-6.08B-19.4M1.182.21N/AN/A29,36234,611347,321364,275
2025-02-19$279.90$245.0018.9%5.4%12.3%19.2%19.5%3.2%0.3%201.4M-6.21B-18.8M0.991.96N/AN/A22,26822,114353,280375,586
2025-02-20$267.77$250.0019.9%5.7%20.8%26.0%20.6%3.6%0.2%85.0M-3.87B-20.9M0.713.72N/AN/A85,61160,635358,474379,942
2025-02-21$263.85$245.0022.2%6.4%21.4%40.2%23.1%4.5%-0.1%55.9M-3.46B-21.6M0.802.34N/AN/A48,83639,292381,901377,190
2025-02-24$261.19$245.0022.7%6.5%21.7%43.4%22.6%4.5%0.6%42.9M-2.62B-20.8M0.576.23N/AN/A43,60024,896318,809338,814
2025-02-25$257.58$245.0023.4%6.9%22.2%47.8%25.0%4.6%0.5%31.4M-2.21B-21.6M0.888.87N/AN/A39,37634,669330,155341,750
2025-02-26$259.60$240.0023.3%6.8%22.3%47.2%24.7%4.3%0.5%65.2M-2.59B-21.2M0.814.47N/AN/A25,18820,487336,107342,738
2025-02-27$258.86$240.0025.3%7.4%22.3%60.2%26.0%4.6%0.2%56.8M-2.48B-21.9M0.665.16N/AN/A35,82223,647339,103347,182
2025-02-28$263.05$245.0023.7%7.0%23.1%50.1%23.6%4.2%0.5%114.8M-3.12B-21.4M0.593.34N/AN/A47,99928,356347,203351,281