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 8 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 37% leaning bullish and 50% bearish. Among these notable options, 3 are puts, totaling $123,455, and 5 are calls, amounting to $234,723.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $205.0 and $220.0 for JPMorgan Chase, spanning the last three months.
Insights into 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 $205.0 to $220.0 in the last 30 days.
JPMorgan Chase Option Activity Analysis: Last 30 Days
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 | BEARISH | 10/18/24 | $6.25 | $6.1 | $6.2 | $205.00 | $62.0K | 818 | 100 |
| JPM | CALL | SWEEP | BEARISH | 09/20/24 | $3.1 | $3.0 | $3.02 | $220.00 | $60.4K | 5.6K | 201 |
| JPM | CALL | SWEEP | BEARISH | 08/02/24 | $1.59 | $1.55 | $1.55 | $212.50 | $59.9K | 2.0K | 356 |
| JPM | CALL | SWEEP | BULLISH | 08/02/24 | $1.55 | $1.47 | $1.55 | $212.50 | $52.5K | 2.0K | 17 |
| JPM | CALL | TRADE | NEUTRAL | 08/02/24 | $1.66 | $1.6 | $1.63 | $212.50 | $32.6K | 2.0K | 1.1K |
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.
JPMorgan Chase's Current Market Status
- Currently trading with a volume of 767,128, the JPM's price is up by 0.11%, now at $208.82.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 78 days.
Expert Opinions on JPMorgan Chase
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $223.2.
- Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on JPMorgan Chase with a target price of $215.
- An analyst from Jefferies persists with their Buy rating on JPMorgan Chase, maintaining a target price of $239.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on JPMorgan Chase with a target price of $221.
- In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $230.
- An analyst from Evercore ISI Group has decided to maintain their Outperform rating on JPMorgan Chase, which currently sits at a price target of $211.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for JPMorgan Chase, Benzinga Pro gives you real-time options trades alerts.