JPM Options History — May 2025

In May 2025, JPM traded between $247.73 and $267.64. ATM implied volatility averaged 22.6%, placing in the 15.3% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded below realized volatility by 6.6% (HV 20d: 29.2%). Max pain ranged from $225.00 to $235.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 0.76.

Notable Days

  • 2025-05-16: Highest Volume — 82,956 contracts
  • 2025-05-12: Largest IV drop — 13.1% change
  • 2025-05-06: Highest IV Rank — 22.6%
  • 2025-05-06: Largest Expected Move — 7.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$259.97$247.73$267.64$247.73$264.44
Max Pain$231.90$225.00$235.00$235.00$235.00
ATM IV22.6%19.9%25.7%25.0%21.6%
Expected Move6.4%5.7%7.4%7.4%5.8%
HV 20d29.2%17.0%61.6%61.6%17.0%
HV 60d41.1%40.0%41.8%41.5%40.0%
IV Rank15.3%9.3%22.6%21.0%11.1%
IV Percentile51.7%33.7%75.4%70.2%42.5%
Term Structure0.4%-0.2%1.2%0.2%0.9%
VWIV23.5%20.0%28.9%25.3%21.9%
Skew 25d4.7%3.6%6.2%6.0%4.5%
Skew 10d10.3%7.8%13.5%13.4%10.4%
Call IV 25d20.5%18.4%22.7%22.7%19.5%
Put IV 25d25.3%22.4%28.9%28.6%24.0%
Bid-Ask Spread %4.922.3940.493.003.52
Gamma HHI0.090.070.150.080.11
Net GEX159.2M94.6M277.1M127.4M166.4M
Net DEX-4.34B-6.09B-3.06B-3.06B-4.30B
Net VEX-26.1M-27.7M-24.7M-27.7M-25.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.760.421.340.730.58
Total Volume48,378.71423,56582,95646,85544,278
Total OI809,485.381751,343860,681802,817808,250

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-05-01$247.73$235.0025.0%7.4%61.6%21.0%25.3%6.0%0.2%127.4M-3.06B-27.7M0.733.00N/AN/A27,12119,734391,634411,183
2025-05-02$252.84$235.0023.6%6.8%55.7%17.8%24.0%5.5%0.3%159.9M-3.88B-27.5M0.522.97N/AN/A43,23322,440395,889418,241
2025-05-05$253.23$225.0024.4%7.1%47.6%19.6%27.1%5.7%0.2%136.5M-3.68B-27.2M0.822.67N/AN/A27,57022,624385,872406,464
2025-05-06$250.68$230.0025.7%7.4%48.0%22.6%27.7%6.2%0.3%112.2M-3.26B-27.7M0.962.78N/AN/A16,96816,275394,908417,339
2025-05-07$250.41$230.0025.5%7.3%48.1%22.1%28.9%5.9%0.1%112.4M-3.13B-27.3M1.345.27N/AN/A13,12417,578395,669421,664
2025-05-08$254.62$230.0024.7%7.1%36.2%20.2%25.0%5.4%-0.0%155.4M-3.85B-27.1M0.744.32N/AN/A24,80118,308397,601424,997
2025-05-09$253.15$230.0024.1%6.9%30.8%18.9%24.4%5.3%0.1%130.0M-3.58B-27.0M0.422.96N/AN/A28,99512,156402,420429,533
2025-05-12$259.76$230.0020.9%6.0%25.1%11.6%23.8%4.5%0.0%198.3M-4.67B-25.2M0.773.43N/AN/A38,82629,821393,048420,606
2025-05-13$263.52$230.0019.9%5.7%24.9%9.3%20.0%4.0%-0.2%241.9M-5.41B-24.7M0.552.92N/AN/A32,61118,033402,623424,407
2025-05-14$265.71$230.0021.2%6.0%24.4%12.3%21.4%4.1%-0.0%247.3M-5.75B-25.0M0.492.78N/AN/A36,03417,770406,125430,511
2025-05-15$267.64$230.0021.1%6.0%22.3%12.0%22.9%4.3%-0.1%275.4M-6.09B-25.2M0.523.39N/AN/A49,38325,546414,507435,400
2025-05-16$267.20$230.0021.3%6.1%22.3%12.6%22.2%3.6%-0.1%277.1M-6.04B-24.7M0.5940.49N/AN/A52,19130,765418,334442,347
2025-05-19$265.10$230.0020.9%6.0%20.5%11.5%21.3%3.8%0.5%129.7M-4.58B-24.9M0.992.72N/AN/A31,04730,674367,887383,456
2025-05-20$266.11$230.0021.1%6.0%18.2%12.1%20.8%3.9%0.6%137.4M-4.79B-24.7M0.703.07N/AN/A30,68521,630374,617393,212
2025-05-21$261.77$235.0022.7%6.5%18.8%15.8%23.9%4.5%0.9%106.1M-4.01B-26.5M0.904.16N/AN/A20,85418,788390,555401,617
2025-05-22$261.62$235.0021.8%6.2%18.3%13.8%22.2%4.2%1.2%107.4M-4.01B-26.4M0.812.94N/AN/A18,55314,942397,339405,637
2025-05-23$261.25$235.0023.4%6.6%17.8%17.2%23.6%4.7%0.6%94.6M-3.98B-26.5M0.702.42N/AN/A31,89822,186403,746410,711
2025-05-27$264.93$235.0021.7%6.0%18.1%13.1%22.1%4.4%0.8%146.0M-4.50B-25.7M0.842.39N/AN/A20,39517,050382,871401,157
2025-05-28$263.66$235.0021.9%6.2%18.4%13.6%22.8%4.6%0.9%138.1M-4.26B-25.9M1.012.58N/AN/A13,68113,820388,556406,995
2025-05-29$264.09$235.0021.9%6.0%18.0%13.6%21.6%4.4%0.8%144.2M-4.35B-25.8M0.952.62N/AN/A12,07511,490390,294410,971
2025-05-30$264.44$235.0021.6%5.8%17.0%11.1%21.9%4.5%0.9%166.4M-4.30B-25.8M0.583.52N/AN/A27,98016,298393,203415,047