JPM Options History — January 2026

In January 2026, JPM traded between $297.73 and $335.21. ATM implied volatility averaged 23.2%, placing in the 14.3% IV rank vs the trailing year. The 30-day expected move averaged 6.6%. IV traded below realized volatility by 2.0% (HV 20d: 25.3%). Max pain ranged from $275.00 to $315.00. Net GEX was positive for 13 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.66.

Notable Days

  • 2026-01-05: Highest Volume — 991,740 contracts
  • 2026-01-20: Largest IV spike — 12.0% change
  • 2026-01-12: Highest IV Rank — 19.8%
  • 2026-01-02: Largest Expected Move — 7.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$313.25$297.73$335.21$324.74$305.56
Max Pain$309.25$275.00$315.00$275.00$310.00
ATM IV23.2%21.5%25.5%24.1%23.0%
Expected Move6.6%6.1%7.8%7.8%6.4%
HV 20d25.3%19.9%27.5%23.8%27.1%
HV 60d23.7%22.6%24.2%22.6%24.0%
IV Rank14.3%10.5%19.8%16.7%11.8%
IV Percentile47.9%29.8%69.4%56.3%44.4%
Term Structure-0.2%-0.9%0.6%-0.6%0.3%
VWIV23.3%21.2%27.7%27.7%22.4%
Skew 25d3.1%1.8%4.4%4.1%3.4%
Skew 10d6.8%4.5%9.6%8.1%7.2%
Call IV 25d22.0%20.3%23.6%22.7%21.3%
Put IV 25d25.1%22.9%27.7%26.8%24.7%
Bid-Ask Spread %52.0714.7463.1814.7451.98
Gamma HHI0.070.040.200.200.14
Net GEX66.4M-77.7M249.7M249.7M155.4M
Net DEX-1.94B-6.17B180.2M-5.01B-1.50B
Net VEX-24.0M-25.9M-22.3M-22.4M-25.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.660.031.120.790.41
Total Volume139,348.1545,012991,74050,33684,471
Total OI653,758.7556,409787,216695,030637,599

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-01-02$324.74$275.0024.1%7.8%23.8%16.7%27.7%4.1%-0.6%249.7M-5.01B-22.4M0.7914.74N/AN/A28,10322,233333,093361,937
2026-01-05$334.52$310.0024.1%6.8%25.6%16.6%24.2%3.4%0.3%209.7M-6.17B-22.3M0.0356.18N/AN/A958,67533,065322,877352,902
2026-01-06$335.21$310.0024.0%6.7%25.6%16.3%25.6%4.4%-0.1%190.1M-4.28B-22.6M0.8656.11N/AN/A25,20221,686271,219365,656
2026-01-07$326.71$310.0025.1%7.0%27.5%18.9%26.5%4.2%-0.8%115.3M-3.07B-23.3M1.1263.18N/AN/A33,10737,056275,421373,972
2026-01-08$330.75$315.0025.3%6.9%22.2%19.5%24.3%4.0%-0.7%172.4M-3.66B-23.3M0.6857.46N/AN/A26,85918,153281,705383,268
2026-01-09$329.59$315.0024.5%6.7%20.4%17.5%23.9%3.9%-0.8%183.2M-3.51B-23.1M0.6561.94N/AN/A34,58422,382283,876391,052
2026-01-12$324.47$315.0025.5%7.0%19.9%19.8%24.3%3.4%-0.9%93.6M-2.74B-23.3M0.9252.99N/AN/A66,20560,953273,355380,147
2026-01-13$310.60$315.0023.0%6.4%25.5%14.0%22.4%3.0%-0.8%-48.5M-828.4M-22.9M0.6351.40N/AN/A120,47175,798296,677404,610
2026-01-14$307.89$310.0022.1%6.3%25.4%12.0%22.8%2.0%-0.4%-54.0M-611.1M-23.7M0.7354.78N/AN/A75,38254,835327,301417,510
2026-01-15$309.84$310.0022.2%6.2%25.4%12.2%21.8%2.2%-0.8%1.3M-976.5M-24.5M0.9358.45N/AN/A86,20480,180339,838434,207
2026-01-16$311.47$310.0021.9%6.1%25.4%11.3%21.2%1.8%-0.9%84.1M-1.70B-24.5M0.3856.55N/AN/A109,50341,343358,898428,318
2026-01-20$302.28$310.0024.5%7.0%27.4%17.5%25.0%3.7%0.6%-19.3M-454.1M-24.5M0.6047.07N/AN/A57,74634,743277,684278,725
2026-01-21$302.89$310.0022.3%6.4%27.2%12.2%21.8%2.8%0.4%-27.3M-497.4M-24.7M0.5650.99N/AN/A45,51925,399290,526290,205
2026-01-22$303.29$310.0021.5%6.2%26.0%10.5%21.5%2.6%0.3%-23.1M-621.0M-24.7M1.0750.90N/AN/A60,67565,028302,367294,352
2026-01-23$297.73$310.0021.6%6.2%26.1%10.8%21.8%2.8%0.4%-77.7M180.2M-24.4M0.8351.79N/AN/A73,12360,394317,162302,113
2026-01-26$301.12$310.0021.9%6.3%26.1%11.4%21.6%2.5%0.2%6.3M-666.6M-24.8M0.4746.24N/AN/A40,34318,974294,147293,704
2026-01-27$300.18$310.0022.5%6.2%26.1%12.8%22.0%2.9%-0.1%-387.3K-569.6M-24.9M0.5350.92N/AN/A33,01917,556303,291299,217
2026-01-28$300.53$310.0022.9%6.3%26.1%11.7%22.4%2.5%0.6%11.5M-634.9M-25.1M0.6355.78N/AN/A31,34319,892307,756304,736
2026-01-29$305.58$310.0023.0%6.5%27.1%12.0%22.7%2.6%0.0%106.2M-1.50B-25.7M0.3751.90N/AN/A63,48623,273311,862311,889
2026-01-30$305.56$310.0023.0%6.4%27.1%11.8%22.4%3.4%0.3%155.4M-1.50B-25.9M0.4151.98N/AN/A59,90324,568322,622314,977