JPM is coming out with earnings on Tuesday the 16th. A lot of people are HEAVILY bearish on financials. But how bad are the banks really when they are raking in money from the PPP programs? Not to mention all of the bad loans the Fed is taking off the books? We could see a big pop up after the earnings call. I will be out if nothing happens after earnings. Aug 100 and 110 calls.
Cheers,
-Sherem
Cheers,
-Sherem
Comment:
JPM had a great start now it's slowing down. Good thing is these trades are still positive from when we entered. Going to see how the day plays out with this one. Lot of selling pressure on stocks right now
Trade closed manually:
Closing trade for minimal profit. The market could really move down here and JP just ain't moving up even though it's had some spikes. Plus they lost 50% of revenues year over year but beat in other aspects. Not sure if that's enough to propel it past 100. The options market sure doesn't believe it past August, anything above 100 is selling off.