JPMorgan (JPM) Sees Unusual OTM Call Option Volume; Investors Getting Bullish?
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Investors might be loving J.P. Morgan (NYSE: JPM) and its prospects and betting on a big comeback.
According to data Wednesday, a massive 77,900 or so buy on the December 34 Calls went through earlier. This is an extremely large transaction, amounting to 57 percent of total call volume, 44 percent of total December option volume, and 91 percent of bids for J.P. Morgan.
The open interest on the December 34 calls was just 11,015, which may indicate the possibility of opening of new positions.
Overall, call volume in December was 1.5 times the four-week moving average at noon, and put volume just 0.7 times over the same period.
Whether or not the transaction signals that investors are getting bullish on J.P. Morgan is up for debate; a large fund might simply be hedging another move, for instance.
Currently, total volume at December 34 calls is about 81,780, while December 35 calls have also seen some action, volume now at 31,363 contracts. Pricing for the 34s is up 38.5 percent, and 85.7 percent for the 35s.
Overall, J.P. Morgan closed down 3.5 percent to $28.38 Wednesday.
According to data Wednesday, a massive 77,900 or so buy on the December 34 Calls went through earlier. This is an extremely large transaction, amounting to 57 percent of total call volume, 44 percent of total December option volume, and 91 percent of bids for J.P. Morgan.
The open interest on the December 34 calls was just 11,015, which may indicate the possibility of opening of new positions.
Overall, call volume in December was 1.5 times the four-week moving average at noon, and put volume just 0.7 times over the same period.
Whether or not the transaction signals that investors are getting bullish on J.P. Morgan is up for debate; a large fund might simply be hedging another move, for instance.
Currently, total volume at December 34 calls is about 81,780, while December 35 calls have also seen some action, volume now at 31,363 contracts. Pricing for the 34s is up 38.5 percent, and 85.7 percent for the 35s.
Overall, J.P. Morgan closed down 3.5 percent to $28.38 Wednesday.
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