Thursday, June 7, 2012

Options: Rolling the Dice on a JP Morgan Upmove (JPM)

The stock closed at $32.81, down 26 cents. It's up 31 cents in very early after-hours trade.
From What's Trading:
Bullish Bets on a Beaten Down Bank
Risk 13 cents to make 87 cents if JPM manages an 18% climb in the next 44days? Someone likes that bet, with nearly 30,000 July 38-39 call spreads being bought to open over the course of two hours in morning trading Thursday. While a move of almost 20 percent is a longshot, before the $2 billion surprise loss announced last month, shares had spent 2 months north of $40....MORE