UOA PRO New Trade Idea JPM 7-30

New Trade Idea

Ticker: JPM
Stock: 348.85
Trigger: 349.52
Expiration Date: 31JUL

UOA: 13,700 31July 360 calls mostly bought for 0.07 to 0.13 above open interest of 1,559 contracts. Stock 347.71-349.00.

JPM $348.74 Last.

Large front week OTM call buy of $ cheaps. Possibly counting on a reversal candle to mirror yesterday’s wreck. Still in strong uptrend and if the Gang is good at squeezing when they want/need to be.

Trigger: $349.52, today’s current high.

Strategy 1: Consider the JPM 31July 350.00 calls for $2.00 projected at trigger level.

Targets: 357.31, 359.30