JP Morgan (JPM) loses 24 cents to $38.22 and 25,500 April 39 calls are sold on the stock at $1.16 per contract. Like the big prints in BAC this week (see 2/21 and 2/22 color), the activity might close a position opened a few weeks ago, when 12,500 traded for $1.24 on 1/31 and 13,000 for $1.45 on 2/1. However, unlike BAC, the liquidating trades in JPM seem to be for a loss after a 2.4 percent advance in shares. The move wasn”t been sufficient enough to offset the negative impacts from theta and vega.