Someone with a lot of money to spend has taken a bearish stance on JPMorgan Chase (NYSE:JPM).
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with JPM, it often means somebody knows something is about to happen.
So how do we know what this whale just did?
Today, Benzinga's options scanner spotted 53 uncommon options trades for JPMorgan Chase.
This isn't normal.
The overall sentiment of these big-money traders is split between 41% bullish and 58%, bearish.
Out of all of the special options we uncovered, 32 are puts, for a total amount of $2,056,202, and 21 are calls, for a total amount of $1,555,922.
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 $80.0 to $145.0 for JPMorgan Chase over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for JPMorgan Chase options trades today is 4345.45 with a total volume of 36,272.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for JPMorgan Chase's big money trades within a strike price range of $80.0 to $145.0 over 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 | SWEEP | BEARISH | 01/20/23 | $110.00 | $284.0K | 10.4K | 1.0K |
| JPM | PUT | SWEEP | NEUTRAL | 01/19/24 | $100.00 | $228.7K | 11.2K | 250 |
| JPM | PUT | TRADE | BEARISH | 07/21/23 | $105.00 | $175.0K | 24 | 601 |
| JPM | CALL | TRADE | BULLISH | 08/19/22 | $115.00 | $163.8K | 8.6K | 2.1K |
| JPM | CALL | SWEEP | BEARISH | 03/17/23 | $115.00 | $161.1K | 162 | 171 |
Where Is JPMorgan Chase Standing Right Now?
- With a volume of 9,920,789, the price of JPM is down -1.11% at $114.08.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 72 days.
What The Experts Say On JPMorgan Chase:
- Jefferies has decided to maintain their Hold rating on JPMorgan Chase, which currently sits at a price target of $126.
- Oppenheimer has decided to maintain their Outperform rating on JPMorgan Chase, which currently sits at a price target of $153.
- UBS has decided to maintain their Buy rating on JPMorgan Chase, which currently sits at a price target of $126.
- Credit Suisse has decided to maintain their Outperform rating on JPMorgan Chase, which currently sits at a price target of $145.
- Morgan Stanley has decided to maintain their Underweight rating on JPMorgan Chase, which currently sits at a price target of $127.
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 want to stay updated on the latest options trades for JPMorgan Chase, Benzinga Pro gives you real-time options trades alerts.
