JPM Options History — November 2025

In November 2025, JPM traded between $298.02 and $320.82. ATM implied volatility averaged 24.0%, placing in the 16.3% IV rank vs the trailing year. The 30-day expected move averaged 7.0%. IV traded above realized volatility by 2.4% (HV 20d: 21.6%). Max pain ranged from $270.00 to $295.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.77.

Notable Days

  • 2025-11-14: Highest Volume — 78,053 contracts
  • 2025-11-17: Largest IV spike — 9.8% change
  • 2025-11-20: Highest IV Rank — 24.1%
  • 2025-11-20: Largest Expected Move — 7.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$308.05$298.02$320.82$309.89$312.56
Max Pain$277.37$270.00$295.00$295.00$275.00
ATM IV24.0%21.2%27.3%23.6%21.2%
Expected Move7.0%6.5%7.9%7.0%6.5%
HV 20d21.6%19.3%23.7%23.7%20.9%
HV 60d19.1%17.8%20.4%18.2%20.3%
IV Rank16.3%9.7%24.1%15.4%9.7%
IV Percentile56.2%29.8%82.1%52.8%29.8%
Term Structure-0.0%-1.7%1.0%0.2%-0.3%
VWIV24.9%22.4%27.4%26.0%22.4%
Skew 25d3.9%2.9%5.0%3.9%3.9%
Skew 10d8.2%5.6%10.4%8.1%9.3%
Call IV 25d22.4%19.9%25.7%22.2%19.9%
Put IV 25d26.3%23.8%29.9%26.0%23.8%
Bid-Ask Spread %55.2046.1664.0747.1651.91
Gamma HHI0.070.050.110.070.11
Net GEX134.4M24.6M269.8M150.8M221.5M
Net DEX-4.35B-6.34B-2.66B-4.86B-5.05B
Net VEX-23.9M-24.6M-23.1M-24.1M-23.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.770.521.030.620.69
Total Volume49,120.36823,77578,05347,18841,719
Total OI753,260.684697,615788,410735,991738,245

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-11-03$309.89$295.0023.6%7.0%23.7%15.4%26.0%3.9%0.2%150.8M-4.86B-24.1M0.6247.16N/AN/A29,11718,071369,204366,787
2025-11-04$310.24$295.0024.3%7.2%23.7%17.1%25.5%3.9%0.5%156.1M-4.84B-24.6M0.8050.12N/AN/A19,74415,863376,176373,892
2025-11-05$312.57$295.0023.0%6.7%23.5%13.9%24.1%4.2%1.0%192.2M-5.24B-24.3M1.0356.30N/AN/A18,05818,519378,591378,158
2025-11-06$314.00$270.0023.6%6.9%23.5%15.3%24.4%3.7%0.7%215.3M-5.46B-24.5M0.8254.97N/AN/A24,56920,125381,405379,659
2025-11-07$313.85$270.0023.5%6.9%22.9%15.2%24.5%3.0%0.4%236.6M-5.38B-24.5M0.6356.69N/AN/A43,51727,616385,971383,973
2025-11-10$317.23$270.0022.5%6.7%21.7%12.8%24.8%3.4%0.9%224.5M-5.85B-23.4M0.7952.61N/AN/A28,23122,179372,459370,848
2025-11-11$316.37$275.0022.8%6.5%19.5%13.5%23.4%2.9%-0.1%219.7M-5.65B-23.2M0.8557.06N/AN/A12,83910,936376,152378,259
2025-11-12$320.82$275.0022.4%6.5%19.3%12.5%22.9%3.3%0.4%269.8M-6.34B-23.3M0.7256.35N/AN/A38,75127,920378,933381,713
2025-11-13$309.51$275.0024.2%7.0%21.2%16.9%25.1%3.3%0.4%107.9M-4.39B-24.1M0.9761.40N/AN/A29,61628,585382,131389,877
2025-11-14$303.89$275.0023.6%6.8%22.4%15.5%24.1%3.4%0.4%38.8M-3.43B-24.5M0.6857.46N/AN/A46,34731,706386,245392,983
2025-11-17$299.57$275.0025.9%7.4%22.2%20.9%26.2%4.2%-1.7%39.9M-2.95B-24.0M0.6560.56N/AN/A27,36717,740375,686381,229
2025-11-18$300.25$275.0026.5%7.6%21.4%22.3%26.5%3.8%-1.0%43.1M-3.06B-24.3M0.5259.49N/AN/A22,48011,723380,463386,657
2025-11-19$303.34$275.0025.7%7.4%20.9%20.3%25.9%4.8%-0.7%71.4M-3.55B-24.2M0.7457.74N/AN/A16,99912,633383,819388,411
2025-11-20$299.35$275.0027.3%7.9%21.6%24.1%27.4%4.2%-0.8%25.9M-2.97B-24.3M0.9264.07N/AN/A27,56525,347387,134391,418
2025-11-21$298.02$275.0025.8%7.5%20.2%20.7%26.4%5.0%-0.8%24.6M-2.66B-24.0M0.8959.96N/AN/A38,20934,019393,439394,971
2025-11-24$299.20$275.0024.3%7.2%19.9%17.2%25.1%4.0%-0.0%50.7M-2.94B-23.7M0.7246.16N/AN/A25,60818,542341,256356,359
2025-11-25$303.88$275.0023.1%6.8%20.6%14.3%24.2%5.0%-0.2%105.2M-3.68B-23.1M0.8146.75N/AN/A27,53222,191348,481362,420
2025-11-26$308.39$275.0022.0%6.7%21.2%11.6%23.5%4.4%-0.0%159.7M-4.32B-23.6M0.7352.00N/AN/A29,62521,679353,605364,944
2025-11-28$312.56$275.0021.2%6.5%20.9%9.7%22.4%3.9%-0.3%221.5M-5.05B-23.2M0.6951.91N/AN/A24,70817,011365,824372,421