Posted in
Daily Report
By: Tom Gentile
on July 14th, 2022
JP Morgan Chase & Co. Earnings Didn’t Help the Markets, but The Markets Still Fought Back
Q2 earnings season for banks kicked off today with both JP Morgan Chase & Co (NYSE: JPM) and Morgan Stanley (NYSE: MS) both reporting.
Most of the attention was on JPM as its CEO, Jamie Dimon had much to say about the banks numbers and about stress tests and the economy.
It was a kid of yin and yang type batch of commentary where he pointed out some good and some bad perspective of his which I encourage you all to search up articles to gain the full story of what he said.
JPM’s numbers came in with earnings of $2.76 per share on revenue of $34.2 billion. The consensus eps estimate was $2.85 per share on revenue of $32.0 billion.
MS’s numbers came in with earnings of $1.44 per share on revenue of $14.5 billion. The consensus earnings estimate was $1.55 per share on revenue of $279.7 billion.
JPM Put Option Contract Makes the Unusually High Put Option Volume List
There was a put option contract of JPM that made the Unusually high Put Option Volume list. It is the JPM October 21, 2022, $90 Put.
This is a further out option, so It seems options traders are not expecting things to get too much better for the stock going in to the next earnings period for it as well.
Notice Wells Fargo & Company (NYSE: WFC) is also on this list. The put option for WFC is the January 20, 2022, $35 Put.
Apparently the option traders are playing the long game on the banks recovery, in that they aren’t seeing it happening any time soon.
App: Toms Option Tools
Market Insight articles may show images of lists of stocks meeting a variety of options parameters like Unusual Call and or Put activity or Expensive IV found on my app Toms Option Tools.
Other times I will have other charts may work to amplify my educational points.
Those options data lists, however, can be found on my app Tom’s Option Tools. Use your device to search up and download this app and get free access to the Morning Reports section of the app.
Other parts of the app are available at a premium subscription rate, but the Morning Reports Lists are yours free.
Disclaimers
Stock and options trading has large potential rewards, but also large potential risk.
You must be aware of the risks and be willing to accept them in order to invest in the stock and options market. Do not trade with money you cannot afford to lose.
This is neither an offer to buy/sell/ or recommend a particular stock or option.
Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been actually executed, the results may have under or overcompensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with hindsight.
No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.
Disclaimer of Warranties and Liabilities Tom Gentile and TomsTradingRoom, LLC including employees, consultants, and editors (“Publisher”) cannot and do not warrant the completeness or accuracy of the content found in our areas, or its usefulness for any particular purpose.
Tom Gentile and TomsTradingRoom, LLC also make no promises that our content or the service itself will be delivered to you uninterrupted, timely, secure, or error-free. Under no circumstances will Tom Gentile and TomsTradingRoom, LLC be liable for direct, indirect, incidental, or any other type of damages resulting from your use or downloading of any content on our site.
This includes, but is in no way limited to, loss or injury caused in whole or in part by our negligence or by anything beyond our control in creating or delivering any portion of Tom Gentile and TomsTradingRoom, LLC.
You are agreeing that you bear responsibility for your own investment research and investment decisions. You also agree that Tom Gentile and TomsTradingRoom, LLC will not be liable for any I, investment decision made, or action taken by you, or others based upon reliance on news, information, or any other material published by Tom Gentile and TomsTradingRoom, LLC.
Tom Gentile and TomsTradingRoom, LLC relies on various sources of information that we believe to be accurate and reliable. However, we make no claims or representations as to the accuracy, completeness, or truth of any material contained on our site.
Tom Gentile and TomsTradingRoom, LLC are educational portals, providing content for educational and informational purposes only. Neither Tom Gentile nor TomsTradingRoom, LLC are a broker/dealer. Investors need a broker to trade stocks and options and must meet certain requirements. All securities, futures, and investments data and ideas are offered to self-directed investors. All prices in USD unless noted otherwise.
A full disclaimer can be found here: http://www.tomgentile.com/legal_disclaimers.html.