27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Someone with a lot of money to spend has taken a bearish stance on JPMorgan Chase (NYSE:JPM).
And retail traders should know.
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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 22 uncommon options trades for JPMorgan Chase.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 59%, bearish.
Out of all of the special options we uncovered, 12 are puts, for a total amount of $1,117,963, and 10 are calls, for a total amount of $1,225,526.
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 $170.0 for JPMorgan Chase over the last 3 months.
Volume & Open Interest Development
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Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $80.0 to $170.0 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 | CALL | SWEEP | BULLISH | 05/20/22 | $135.00 | $453.1K | 37 | 367 |
| JPM | CALL | SWEEP | BEARISH | 05/20/22 | $130.00 | $433.2K | 55 | 277 |
| JPM | PUT | SWEEP | BEARISH | 06/17/22 | $170.00 | $383.9K | 877 | 120 |
| JPM | PUT | SWEEP | BEARISH | 01/20/23 | $90.00 | $144.5K | 3.8K | 480 |
| JPM | PUT | TRADE | BEARISH | 01/19/24 | $110.00 | $108.5K | 170 | 111 |
Where Is JPMorgan Chase Standing Right Now?
- With a volume of 16,005,818, the price of JPM is down -1.71% at $142.6.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 79 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.
- Seaport Global has decided to maintain their Buy rating on JPMorgan Chase, which currently sits at a price target of $191.
- Wolfe Research downgraded its action to Peer Perform with a price target of $185
- Morgan Stanley has decided to maintain their Underweight rating on JPMorgan Chase, which currently sits at a price target of $170.
- Barclays has decided to maintain their Overweight rating on JPMorgan Chase, which currently sits at a price target of $202.
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.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.