Looks like its back trying to challenge a break out to new highs
This all depends on rates really.
I guess the anticipation is that rates are going up eventually so banks should too? Just a guess
Banks have led recently, maybe time to cool off and drift back to support
The NFP number this morning gave a hint of how JPM will react in the future to unfavorable data
Just gonna play it bearish looking for maybe a $5 pullback or so over next week or 2
If rates start getting really frisky this trade is done
If it blows through 161.5 I'll be out, might wait for that test before entering
Some sort of diagonal put spreads not sure on specific strikes yet
This all depends on rates really.
I guess the anticipation is that rates are going up eventually so banks should too? Just a guess
Banks have led recently, maybe time to cool off and drift back to support
The NFP number this morning gave a hint of how JPM will react in the future to unfavorable data
Just gonna play it bearish looking for maybe a $5 pullback or so over next week or 2
If rates start getting really frisky this trade is done
If it blows through 161.5 I'll be out, might wait for that test before entering
Some sort of diagonal put spreads not sure on specific strikes yet
Comment:
Got bailed out with the pullback
Though I wasn't able to exit at JPM pre market low of 159.
More like 160 or so
But at least it worked out, may re-enter at some point
Though I wasn't able to exit at JPM pre market low of 159.
More like 160 or so
But at least it worked out, may re-enter at some point
Never ended up in a spread, just long the 160 May21 puts
Pretty much a busted trade at this point
Gonna add a couple more and see what happens