IB Options Brief: JPMorgan Chase & Co. (JPM)
JPM ñ JPMorgan Chase & Co.
Investors remain nervous following the slump only yesterday to a year-to-date low in investment banking behemoth JPMorgan. Yet the options trading patterns showed mixed emotions.
Although JPM hasnít traded below $40 per share since December 21, put buyers today targeted that strike price scooping up more than 2,500 contracts representing the right to sell by expiration on June 17.
And put buyers also targeted the August $41 strike where more than 5,000 contracts changed hands at a weighted average premium of $1.72. But as the morning progressed shares rebounded from a $41.01 low to rally by more than a dollar and nicely in to the black.
Call option buyers were equally noticed populating the nearby June 17 expiration using the $42 strike, which with volume of more than 6,000 lots was the single most popular venue for option buyers on Friday.
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About Joseph Cusick
Joseph Cusick currently serves as the Senior Vice President of Education and a Senior Market Analyst for optionsXpress. Mr. Cusick seeks out common sense and technologically scalable educational pathways for self-directed investors of all experience levels. He is largely responsible for ramping up delivery of online and offline seminars to customers and potential clients worldwide. Prior to serving in his current role, Mr. Cusick immersed himself in the broker side of optionsXpress by managing his own book of business. Prior to joining optionsXpress, Mr. Cusick served as a market maker and portfolio manager at the Chicago Board of Options Exchange. Joseph is a graduate of Marquette University and holds his Series 4, 7 and 63 registrations with FINRA.
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