Deep-pocketed investors have adopted a bearish approach towards JPMorgan Chase (NYSE:JPM), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in JPM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 43 extraordinary options activities for JPMorgan Chase. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 39% leaning bullish and 41% bearish. Among these notable options, 5 are puts, totaling $439,888, and 38 are calls, amounting to $1,563,052.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $95.0 to $280.0 for JPMorgan Chase over the last 3 months.
Analyzing Volume & Open Interest
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 $95.0 to $280.0 in the last 30 days.
JPMorgan Chase 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| JPM | PUT | TRADE | BULLISH | 09/20/24 | $75.35 | $72.6 | $73.4 | $280.00 | $293.6K | 50 | 0 |
| JPM | CALL | SWEEP | BEARISH | 08/16/24 | $7.15 | $7.0 | $7.0 | $205.00 | $139.3K | 3.2K | 35 |
| JPM | CALL | TRADE | BULLISH | 01/17/25 | $17.95 | $17.85 | $17.95 | $200.00 | $80.7K | 4.5K | 0 |
| JPM | CALL | SWEEP | BULLISH | 09/20/24 | $4.5 | $4.4 | $4.5 | $215.00 | $67.9K | 4.8K | 4 |
| JPM | CALL | TRADE | BEARISH | 09/20/24 | $15.95 | $15.6 | $15.65 | $195.00 | $67.2K | 4.0K | 1 |
About JPMorgan Chase
JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $3.9 trillion in assets. It is organized into four major segments--consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates, and is subject to regulation, in multiple countries.
After a thorough review of the options trading surrounding JPMorgan Chase, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of JPMorgan Chase
- With a trading volume of 1,698,696, the price of JPM is up by 0.42%, reaching $205.65.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 4 days from now.
Expert Opinions on JPMorgan Chase
2 market experts have recently issued ratings for this stock, with a consensus target price of $224.5.
- Maintaining their stance, an analyst from Jefferies continues to hold a Buy rating for JPMorgan Chase, targeting a price of $239.
- An analyst from Evercore ISI Group has decided to maintain their Outperform rating on JPMorgan Chase, which currently sits at a price target of $210.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for JPMorgan Chase with Benzinga Pro for real-time alerts.