JPM PUTS Do The Salsa


If you thought your Cinco De Mayo was wild take a look at the options for J.P. Morgan Chase this week.   JPM came out with some very bad news after the close on Thursday, but it was great news for JPM put holders.  They were doing the Salsa all the way to the bank today.

JPM's 9% decline was a nice return for those short the stock, but for those who played JPM downside via PUTs....paydirt.  Some unbelievable gains for those positioned for a big decline.

The JPM options that expired this week:

$38 puts from $.02 to $1.37  or $200 into $13,700

$39 puts from $.02 to $2.17 or $200 into $21,700

$40 puts from $.09 to $3.20 or $90 into $3,200


Even a $20 buy of the $38 puts would have turned into $1,370.   That will pay for some great dance lessons.

Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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4 thoughts on “JPM PUTS Do The Salsa”

  1. Maybe JPM should have been holding some $38 puts on themselves before telling everyone what suckass traders they are.  Or maybe they were….?

  2. Gee let’s continue to rain  free money down to the banksters – they are doing such great things with it to help rebuild the economy they blew up in 2008.

    Oh yeah also let’s continue to demonize  the small handful of homeowners who recently received principal reduction from crappy mortgages they  signed up for at the height of the bankster fraud.

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