Bulls hope to cash in on JP Morgan calls

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Option traders are making a long-term long bet on JP Morgan ( JPM ) Tuesday. So far, 1,242 contracts of the June 2019 170 call have changed hands. Open interst at that strike had been 40 contracts. Today's volume has all been in the high half of the bid-ask spread, indicating that these new contracts were bought to open.

InvestorsKeyhole Trade Alert

IK-> The technicals for JPM ($112.13 up $0.39) are bullish with an upward trend. The stock has support about $108.80 Look at the April 90/95 bull-put spread for a 22-cent credit. That's a 4.6% return and the stock has to fall by 15.3% to cause a problem. [InvestorsKeyhole, various news and data services]

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Originally published on InvestorsObserver.com

This article appears in: Investing , Options
Referenced Symbols: JPM

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