JP Morgan (JPM) volatility low at 30 into $2B credit derivatives loss

JP Morgan (NYSE: JPM) is recently down $3.50 to $37.24 in the premarket after announcing a large, illiquid hedge position which has already resulted in a $2B loss. JPMorgan was downgraded to Market Perform from Outperform and its price target lowered to $37 from $50 at FBR Capital.

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