Looking At JPMorgan Chase's Recent Unusual Options Activity

Author: Benzinga Insights | April 16, 2024 09:46am

Investors with a lot of money to spend have taken a bearish stance on JPMorgan Chase (NYSE:JPM).

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, 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 these investors just did?

Today, Benzinga's options scanner spotted 13 uncommon options trades for JPMorgan Chase.

This isn't normal.

The overall sentiment of these big-money traders is split between 46% bullish and 53%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $463,034, and 5 are calls, for a total amount of $720,230.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $180.0 to $195.0 for JPMorgan Chase over the recent three months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of JPMorgan Chase stands at 2012.4, with a total volume reaching 6,737.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in JPMorgan Chase, situated within the strike price corridor from $180.0 to $195.0, throughout 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	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
JPM	CALL	SWEEP	BULLISH	04/26/24	$4.35	$4.3	$4.33	$180.00	$217.3K	135	1.0K
JPM	CALL	TRADE	BEARISH	04/26/24	$4.45	$4.35	$4.35	$180.00	$216.6K	135	10
JPM	CALL	TRADE	BEARISH	04/26/24	$4.25	$4.2	$4.2	$180.00	$210.0K	135	4.1K
JPM	PUT	SWEEP	BULLISH	05/17/24	$13.8	$12.45	$12.85	$195.00	$77.1K	2.6K	0
JPM	PUT	SWEEP	BULLISH	07/19/24	$8.95	$8.85	$8.86	$185.00	$75.2K	1.8K	432

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.

Following our analysis of the options activities associated with JPMorgan Chase, we pivot to a closer look at the company's own performance.

Current Position of JPMorgan Chase

• With a volume of 288,737, the price of JPM is down -0.17% at $182.58.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 87 days.

Professional Analyst Ratings for JPMorgan Chase

5 market experts have recently issued ratings for this stock, with a consensus target price of $216.2.

• An analyst from Wells Fargo has decided to maintain their Overweight rating on JPMorgan Chase, which currently sits at a price target of $220.
• An analyst from Oppenheimer has decided to maintain their Outperform rating on JPMorgan Chase, which currently sits at a price target of $219.
• An analyst from Jefferies persists with their Buy rating on JPMorgan Chase, maintaining a target price of $228.
• An analyst from Keefe, Bruyette & Woods persists with their Market Perform rating on JPMorgan Chase, maintaining a target price of $195.
• Consistent in their evaluation, an analyst from UBS keeps a Buy rating on JPMorgan Chase with a target price of $219.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest JPMorgan Chase options trades with real-time alerts from Benzinga Pro.

Posted In: JPM