JPM – JPMorgan Chase & Co. – Near-term bullish activity on JPMorgan this morning suggests some options investors are positioning for a rally in the price of the underlying shares by July expiration. JPM’s shares are up 0.45% at $39.05 as of 11:15 am (ET). Optimistic traders picked up at least 6,350 now in-the-money calls at the July $39 strike for an average premium of $1.31 apiece. Investors holding the calls are prepared to accumulate profits if JPM’s shares rally another 3.2% to trade above the average breakeven point to the upside at $40.31 by expiration day in July.
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Andrew Wilkinson is the senior market analyst at Interactive Brokers Group, where he provides daily commentary and analysis on U.S. equity options trading throughout the trading day. Andrew provides webinars designed to explain option-related trading scenarios covering futures, fixed income, forex and equities.
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