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
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I botched this one thats for sure 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
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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