JP Morgan Chase and Co (JPM) $36.24 +1.26%
JP Morgan (JPM) added 46 cents to $36.25 and was the Dow’s best gainer today after CEO James Dimon tried to offer some soothing remarks at a shareholder meeting. One player in the options market doesn’t seem convinced, however, as a Jun 30 – 33 put spread was bought on the bank this afternoon for 26 cents, 20000X on ISE. A customer bought the spread, to open, according to ISEE. It doesn’t look tied and seems to be targeting a move to $30 or less by the June expiration, or a 17.2 percent loss over the next 31 days. WSJ is reporting today that the Justice Department is opening an inquiry into the bank’s trading loss.
Category: Uncategorized
Free Newsletter
If you enjoyed this article, sign up to receive more just like it.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
