Since Bank Blowout 2024 begins Friday with the earnings reports for JPMorgan, Citi, Wells Fargo and BlackRock, I figured we’d focus on just these trades for today…
We’ve seen a boatload of orders, particularly on Citi (C) over the past few weeks, including four orders alone on Wednesday.
And so far into Friday afternoon, we’ve seen one substantial order into the biggest bank in the world: JPMorgan Chase & Co. (JPM)…
This is the fourth order in JPM over the past few days, and all of them are calls. JPM is trading just under $195 and market makers expect a move of $7.01 higher or lower.
Of the short-dated calls we’ve seen, two of them are within that range in both the weekly and monthly $197.50 strike calls. One of the orders is way off in December at the $240 strike, and we have a more ambitious April 26 expiration, $210 strike call on the table.
Citi (C ) is the other ticker we’ve been seeing a lot action for, and this is dating back for weeks…
C is trading just over $60 a share on Thursday afternoon, and market makers expect a move of $2.22 higher or lower.
As always, respect that risk! The weekly calls that expire Friday after they report can and will go to $0… never trade more than you can afford to lose, or just paper trade it and get some experience!
JPMorgan (JPM):
- JPM Apr24 26th Strike: 197.5 Calls premium: $457,915 ASK BULLISH
Trade Date: April 11, 2024 Trade Time: 10:58 am - JPM Apr24 12th Strike: 197.5 Calls premium: $163,500 ASK BULLISH
Trade Date: April 9, 2024 Trade Time: 1:31 pm - JPM Dec25 Strike: 240 Calls premium: $128,150 ASK BULLISH
Trade Date: April 8, 2024 Trade Time: 10:38 am - JPM Apr24 26th Strike: 210 Calls premium: $109,981 ABOVE ASK BULLISH
Trade Date: April 8, 2024 Trade Time: 9:35 am
Citi (C ):
- C Jul26 Strike: 60 Puts premium: $662,150 ASK BEARISH Trade Date: April 10, 2024 Trade Time: 3:36 pm
- C Jan26 Strike: 57.5 Puts premium: $659,950 ASK BEARISH Trade Date: April 10, 2024 Trade Time: 2:34 pm
- C Apr24 Strike: 61 Calls premium: $230,888 ASK BULLISH Trade Date: April 10, 2024 Trade Time: 2:25 pm
- C Sep25 Strike: 60 Puts premium: $634,500 ASK BEARISH Trade Date: April 10, 2024 Trade Time: 2:25 pm
Note: If no date is listed after the month, it’s the monthly expiration (third Friday).
Lance Ippolito Trading Team
Lance doesn’t want the CCP spying on him, so you’ll never find him on TikTok. Same goes for other social media sites, which are filled with impersonators, scammers and crypto bros.
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
P.S. Ready for This ‘Blowout’? If So, Then Act Fast!
Bank earnings for the first quarter of 2024 kicks off on Friday…
With notable financial stocks like JPMorgan, Wells Fargo and Citi set to announce before the open, followed by Bank of America and a few others that I’m personally interested in.
As a matter of fact, there are about nine names I’m looking to trade over the next seven to eight days.
While I’d never guarantee a future return, you can tag along and see the stocks I’m interested in.
I share all the details during a special bank earnings preparatory event called “Bank Blowout 2024.”
If you’d like to catch it and see the full list of all nine banking stocks I’m looking to target over the next week…
