JPMorgan Chase Unusual Options Activity For June 04

Author: Benzinga Insights | June 04, 2024 11:31am

Deep-pocketed investors have adopted a bullish 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 12 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 50% leaning bullish and 41% bearish. Among these notable options, 6 are puts, totaling $684,000, and 6 are calls, amounting to $282,452.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $190.0 to $230.0 for JPMorgan Chase over the recent three months.

Volume & Open Interest Development

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 $190.0 to $230.0 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	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
JPM	PUT	TRADE	BULLISH	01/16/26	$19.15	$18.75	$18.8	$200.00	$470.0K	1.2K	250
JPM	CALL	SWEEP	BULLISH	06/14/24	$2.2	$2.16	$2.2	$202.50	$66.0K	1.4K	95
JPM	PUT	SWEEP	BEARISH	07/05/24	$1.42	$1.29	$1.36	$190.00	$65.0K	136	509
JPM	PUT	SWEEP	BULLISH	09/20/24	$8.2	$8.15	$8.15	$200.00	$59.5K	2.6K	79
JPM	CALL	TRADE	BULLISH	08/16/24	$3.55	$3.5	$3.55	$210.00	$53.2K	3.7K	0

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.

In light of the recent options history for JPMorgan Chase, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is JPMorgan Chase Standing Right Now?

• With a volume of 1,862,806, the price of JPM is down -1.31% at $199.18.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 38 days.

What Analysts Are Saying About JPMorgan Chase

In the last month, 5 experts released ratings on this stock with an average target price of $209.8.

• An analyst from UBS has decided to maintain their Buy rating on JPMorgan Chase, which currently sits at a price target of $224.
• An analyst from Keefe, Bruyette & Woods persists with their Market Perform rating on JPMorgan Chase, maintaining a target price of $209.
• An analyst from Baird persists with their Neutral rating on JPMorgan Chase, maintaining a target price of $185.
• Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for JPMorgan Chase, targeting a price of $220.
• An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $211.

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