A whale with a lot of money to spend has taken a noticeably bullish stance on JPMorgan Chase.
Looking at options history for JPMorgan Chase (NYSE:JPM) we detected 25 strange trades.
If we consider the specifics of each trade, it is accurate to state that 80% of the investors opened trades with bullish expectations and 20% with bearish.
From the overall spotted trades, 22 are puts, for a total amount of $2,166,209 and 3, calls, for a total amount of $127,201.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $75.0 to $175.0 for JPMorgan Chase over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for JPMorgan Chase's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of JPMorgan Chase's whale trades within a strike price range from $75.0 to $175.0 in the last 30 days.
JPMorgan Chase Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| JPM | PUT | TRADE | BULLISH | 01/19/24 | $150.00 | $226.6K | 2.6K | 481 |
| JPM | PUT | TRADE | BULLISH | 01/19/24 | $150.00 | $225.5K | 2.6K | 371 |
| JPM | PUT | TRADE | BULLISH | 01/19/24 | $150.00 | $224.9K | 2.6K | 261 |
| JPM | PUT | TRADE | BULLISH | 01/19/24 | $150.00 | $224.9K | 2.6K | 111 |
| JPM | PUT | TRADE | BULLISH | 05/20/22 | $155.00 | $215.0K | 891 | 250 |
Where Is JPMorgan Chase Standing Right Now?
- With a volume of 2,750,792, the price of JPM is up 0.27% at $155.14.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 56 days.
What The Experts Say On JPMorgan Chase:
- Citigroup has decided to maintain their Neutral rating on JPMorgan Chase, which currently sits at a price target of $175.
- Jefferies downgraded its action to Hold with a price target of $155
- Morgan Stanley has decided to maintain their Underweight rating on JPMorgan Chase, which currently sits at a price target of $170.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
