JPM Options History — April 2025

In April 2025, JPM traded between $212.70 and $245.74. ATM implied volatility averaged 36.0%, placing in the 52.7% IV rank vs the trailing year. The 30-day expected move averaged 10.0%. IV traded below realized volatility by 18.1% (HV 20d: 54.1%). Max pain ranged from $235.00 to $245.00. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 0.92.

Notable Days

2025-04-11: Highest Volume — 205,043 contracts
2025-04-04: Largest IV spike — 38.9% change
2025-04-04: Highest IV Rank — 100.0%
2025-04-08: Largest Expected Move — 15.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$233.76	$212.70	$245.74	$243.75	$242.88
Max Pain	$236.67	$235.00	$245.00	$245.00	$235.00
ATM IV	36.0%	25.7%	59.5%	30.0%	26.7%
Expected Move	10.0%	7.4%	15.9%	8.1%	7.9%
HV 20d	54.1%	29.3%	62.0%	29.3%	61.3%
HV 60d	37.0%	24.5%	41.3%	24.5%	41.3%
IV Rank	52.7%	22.6%	100.0%	63.7%	24.8%
IV Percentile	93.0%	75.8%	100.0%	96.4%	81.3%
Term Structure	-0.9%	-3.6%	0.4%	0.3%	0.1%
VWIV	36.2%	27.4%	53.3%	29.1%	28.5%
Skew 25d	9.5%	4.7%	18.0%	4.9%	6.6%
Skew 10d	19.9%	10.1%	36.7%	10.8%	14.5%
Call IV 25d	31.6%	23.0%	50.6%	27.9%	23.9%
Put IV 25d	41.1%	29.3%	68.6%	32.8%	30.5%
Bid-Ask Spread %	5.51	2.70	19.84	3.12	3.04
Gamma HHI	0.06	0.03	0.09	0.05	0.07
Net GEX	29.9M	-37.0M	116.9M	30.6M	75.9M
Net DEX	-923.3M	-2.80B	1.91B	-1.22B	-2.26B
Net VEX	-26.8M	-29.1M	-23.6M	-24.4M	-27.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.92	0.46	1.73	0.78	1.12
Total Volume	80,751.857	27,246	205,043	48,870	42,462
Total OI	770,841.19	694,946	850,752	694,946	789,254

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-04-01	$243.75	$245.00	30.0%	8.1%	29.3%	63.7%	29.1%	4.9%	0.3%	30.6M	-1.22B	-24.4M	0.78	3.12	N/A	N/A	27,492	21,378	340,397	354,549
2025-04-02	$245.74	$245.00	29.7%	8.0%	29.5%	62.3%	28.7%	4.7%	-0.3%	48.0M	-1.54B	-24.3M	0.46	3.80	N/A	N/A	27,704	12,637	344,956	359,098
2025-04-03	$228.75	$245.00	36.5%	9.9%	38.1%	93.0%	33.8%	6.9%	-1.2%	-35.9M	676.9M	-23.9M	0.80	4.06	N/A	N/A	74,182	59,530	350,546	361,853
2025-04-04	$212.70	$240.00	50.7%	13.4%	45.2%	100.0%	49.9%	14.5%	-2.1%	-37.0M	1.91B	-23.6M	1.09	6.52	N/A	N/A	81,253	88,660	363,959	377,820
2025-04-07	$213.13	$235.00	54.9%	14.5%	43.2%	100.0%	48.1%	16.8%	-3.1%	-29.2M	1.39B	-25.0M	1.05	7.60	N/A	N/A	47,827	50,286	343,165	381,026
2025-04-08	$213.98	$235.00	59.5%	15.9%	43.2%	100.0%	53.3%	18.0%	-3.6%	-21.0M	1.13B	-26.1M	0.67	6.20	N/A	N/A	52,274	35,105	352,873	388,676
2025-04-09	$235.00	$235.00	39.6%	10.9%	55.4%	54.5%	45.2%	11.6%	-1.6%	22.7M	-932.8M	-26.9M	0.95	19.84	N/A	N/A	58,057	55,328	364,315	398,084
2025-04-10	$223.98	$235.00	52.7%	14.3%	57.7%	84.3%	51.9%	17.5%	-3.6%	-6.0M	231.5M	-27.9M	1.09	9.57	N/A	N/A	69,120	75,079	378,647	412,037
2025-04-11	$237.46	$235.00	41.2%	11.6%	60.5%	58.1%	38.2%	13.5%	-1.2%	79.1M	-1.57B	-29.1M	0.73	7.76	N/A	N/A	118,203	86,840	411,817	438,935
2025-04-14	$235.49	$235.00	33.4%	9.5%	60.4%	40.1%	32.6%	9.6%	-0.2%	20.0M	-984.7M	-27.4M	0.94	8.38	N/A	N/A	41,003	38,562	389,538	413,898
2025-04-15	$233.66	$235.00	31.0%	8.9%	60.5%	34.7%	33.6%	8.7%	0.3%	5.5M	-764.6M	-26.9M	0.69	3.66	N/A	N/A	41,408	28,757	398,813	424,129
2025-04-16	$229.04	$235.00	34.6%	9.9%	60.2%	42.9%	37.6%	9.3%	-0.1%	-21.6M	-268.0M	-27.6M	1.16	4.40	N/A	N/A	32,924	38,218	414,602	428,569
2025-04-17	$232.94	$235.00	29.9%	8.6%	60.6%	32.3%	31.7%	8.1%	0.4%	5.9M	-1.07B	-27.5M	0.86	3.68	N/A	N/A	35,918	31,018	423,022	424,420
2025-04-21	$228.12	$235.00	35.0%	10.2%	60.9%	44.0%	37.5%	8.7%	-1.1%	11.6M	-500.0M	-27.5M	1.73	3.07	N/A	N/A	15,729	27,235	360,272	372,532
2025-04-22	$235.81	$235.00	32.2%	9.2%	61.2%	37.4%	34.5%	8.0%	-0.8%	47.9M	-1.39B	-27.7M	0.91	3.65	N/A	N/A	20,034	18,173	363,312	383,510
2025-04-23	$241.03	$235.00	31.4%	9.0%	61.6%	35.7%	30.9%	7.5%	-1.0%	82.5M	-2.15B	-28.1M	0.80	5.82	N/A	N/A	39,854	31,792	370,252	389,518
2025-04-24	$245.18	$235.00	28.1%	8.0%	62.0%	28.2%	29.6%	6.7%	-0.8%	116.9M	-2.80B	-28.1M	0.84	2.87	N/A	N/A	22,344	18,863	383,183	399,072
2025-04-25	$243.10	$235.00	26.6%	7.7%	62.0%	24.7%	30.4%	6.4%	-0.5%	71.5M	-2.50B	-27.6M	0.88	2.96	N/A	N/A	36,426	32,233	386,801	405,561
2025-04-28	$242.87	$235.00	26.1%	7.7%	61.3%	23.5%	27.4%	6.1%	0.2%	70.2M	-2.24B	-27.3M	0.76	2.91	N/A	N/A	19,684	14,951	373,660	391,285
2025-04-29	$244.44	$235.00	25.7%	7.4%	61.3%	22.6%	27.7%	6.3%	0.3%	90.6M	-2.52B	-27.6M	0.92	2.70	N/A	N/A	14,212	13,034	382,501	397,208
2025-04-30	$242.88	$235.00	26.7%	7.9%	61.3%	24.8%	28.5%	6.6%	0.1%	75.9M	-2.26B	-27.8M	1.12	3.04	N/A	N/A	20,050	22,412	386,293	402,961