AInvestOption Pilot Program
Options/JEPI
J

JEPIJPMorgan Equity Premium Income ETF

Options Analysis Report
AUM $46.3B|ARCX
● 2026-08-31$57.79
BULLISH
Analysis: 2026-08-28 EOD data
1Y +2.0%YTD +0.8%7D -0.5%
721
30D
±2.3%
0%

JEPI Options Overview

IV is low. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

5.6VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
Loading score history...

JEPI Gamma Walls

Loading gamma walls...

Value

Is IV priced right?

8.0
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 2.3% — cheap vs history

<1.05x

IV/HV 2.31x — IV premium over HV

Sector Relative≤50%

Sector percentile 4% — below sector median

<1.1x

Front/Back 0.89x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 9.0% — normal range

<80%

Effective IV 91.8% (ATM 9.0% + spread 41.4% + bias) — expensive

<3.0%

Total drag 52.37% (spread 41.38% + slippage 10.99%) — high friction

≥5.0

Vega efficiency 5.67 (vega 23.454 / spread 41.38%) — acceptable

Sentiment

Bullish or bearish?

6.9
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBullish - Strong signal (Conviction: +11%, Raw: +17%)
|net sentiment| ≥25%

Conviction-weighted: +11% (bullish) — Raw: +17%

≥15%

|OI skew| 26.0% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +38.4%, OI skew +26.0% — aligned

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -100%, ATM: +11%, OTM: +57% — strong bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 18% — very bullish vs sector

Activity

Unusual activity?

3.3
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 0.6x avg — normal

≥15%

Vol/OI 2.8% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +8.2% (5d) — building

Sector Relative≥60%

Sector activity percentile 56% — neutral vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 37% — patient

≥30

Conviction +11 (bullish) — mixed

Liquidity

Can I trade efficiently?

3.5
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks4/8 checks passed
≤5.0%

Spread 41.4% — wide

≥10,000

OI 25,723 — adequate

≥500

Volume 721/day — adequate

≤$0.50

$2.07 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 27% — tighter than sector

≥100 contracts

Depth 116.0 contracts (bid:72.0 ask:44.0) — adequate

<1.0%

Avg slippage 10.99% — poor

Timing

Is now a good time?

6.2
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks5/9 checks passed
|slope| ≥5%

Slope -11.0% — contango

<30 or >70

IV percentile 2% — buyer opportunity

≥10pts kink

IV kink -0.1pts — no clear event

<0.5 or >2.0

θ/ν ratio 1.00 — favors mixed

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +11% @ 55% consistency — unclear

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls7.4
bullishIV cheap, bullish flow
Long Puts5.3
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.6
bullishIV too cheap, bullish flow
Covered Call3.3
bearishIV too cheap, bullish flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

More on JEPI

JEPI gamma wallsJEPI max painJEPI IV rankJEPI options flow