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 64 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 46% leaning bullish and 53% bearish. Among these notable options, 32 are puts, totaling $2,144,417, and 32 are calls, amounting to $2,019,688.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $95.0 to $165.0 for JPMorgan Chase over the recent three months.
Volume & Open Interest Trends
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 $165.0 in the last 30 days.
JPMorgan Chase Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| JPM | CALL | SWEEP | BULLISH | 06/21/24 | $120.00 | $262.8K | 2.0K | 0 |
| JPM | CALL | TRADE | BULLISH | 01/19/24 | $125.00 | $151.9K | 4.1K | 12 |
| JPM | CALL | TRADE | BEARISH | 01/19/24 | $120.00 | $147.0K | 4.9K | 81 |
| JPM | CALL | SWEEP | BULLISH | 01/19/24 | $135.00 | $108.4K | 10.6K | 88 |
| JPM | CALL | TRADE | BULLISH | 01/19/24 | $135.00 | $105.0K | 10.6K | 163 |
About JPMorgan Chase
JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $4 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.
Following our analysis of the options activities associated with JPMorgan Chase, we pivot to a closer look at the company’s own performance.
Where Is JPMorgan Chase Standing Right Now?
- With a volume of 5,323,862, the price of JPM is up 0.67% at $146.75.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 59 days.
What The Experts Say On JPMorgan Chase
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $191.25.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for JPMorgan Chase, targeting a price of $170.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on JPMorgan Chase with a target price of $191.
- Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on JPMorgan Chase with a target price of $233.
- Consistent in their evaluation, an analyst from BMO Capital keeps a Market Perform rating on JPMorgan Chase with a target price of $171.
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.
