JPMJPMorgan Chase & Co.
Options Analysis Report•NATIONAL COMMERCIAL BANKS
Market Cap $831.4B|NYSE
● 2026-04-17$310.29
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +35.5%YTD -4.7%7D +0.1%
Options Vol
83,475
30D
Implied Move
±6.9%
IV Rank
28%
JPM Options Overview
IV is low. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
Loading score history...
Value
Is IV priced right?
8.4
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks8/9 checks passed
IV Rank
≤35%IV Rank 7.4% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.01x — IV ≤ HV
Sector Relative≤50%
Sector percentile 6% — below sector median
Term Structure
<1.1xFront/Back 0.92x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 24.7% — normal range
Spread-Adjusted Value
<80%Effective IV 35.6% (ATM 24.7% + spread 5.5% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 9.19% (spread 5.46% + slippage 3.73%) — high friction
Vega Efficiency
≥5.0Vega efficiency 33.51 (vega 18.294 / spread 5.46%) — efficient
Sentiment
Bullish or bearish?
5.9
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: +5%, Raw: +8%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +5% (neutral) — Raw: +8%
OI Skew Magnitude
≥15%|OI skew| 6.0% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +29.2%, OI skew -6.0% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 49%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +30%, ATM: +5%, OTM: +9% — bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 33% — bullish vs sector
Activity
Unusual activity?
5.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 1.3x avg — normal
Turnover Rate
≥15%Vol/OI 11.1% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +14.2% (5d) — building
Sector Relative≥60%
Sector activity percentile 87% — very active vs sector
Trade Quality
≥30%Large trade volume 26% — mixed
Execution Urgency
≥60%Aggressive execution 52% — patient
Flow Conviction
≥30Conviction +5 (bullish) — mixed
Liquidity
Can I trade efficiently?
6.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks5/8 checks passed
Tradeable Spread
≤5.0%Spread 5.5% — wide
Adequate OI
≥10,000OI 754,003 — deep
Active Volume
≥500Volume 83,475/day — active
Reasonable Cost
≤$0.50$0.27 to cross — cheap
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 10% — much tighter than sector
Order Book Depth
≥100 contractsDepth 229.0 contracts (bid:114.0 ask:115.0) — adequate
Execution Quality
<1.0%Avg slippage 3.73% — poor
Timing
Is now a good time?
7.0
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -7.8% — contango
IV Percentile Clarity
<30 or >70IV percentile 7% — buyer opportunity
Event Detection
≥10pts kinkIV kink -0.6pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 65.81 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +5% @ 52% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 56 (ITM 20% + inst 26%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls7.0
bullishIV cheap, mixed flow
Long Puts6.4
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.9
bullishIV too cheap, mixed flow
Covered Call4.3
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.