Cabot Options Institute Earnings Trader – Alert (JPM)
By the looks of it JPM will have its first 5% move immediately following an earnings announcement since October 2008.
I will be exiting the JPMorgan (JPM) trade today. As always, I will discuss the trade in detail in our next issue (April 17) and subscriber-only webinar next Friday, April 21, at noon ET. Click here to sign up to attend.
JPMorgan Chase (JPM)
Here is the trade:
Simultaneously:
Buy to close JPM April 21, 2023, 136 calls
Sell to close JPM April 21, 2023, 141 calls
Buy to close JPM April 21, 2023, 120 puts
Sell to close JPM April 21, 2023, 115 puts for roughly $1.50 per iron condor. (As always, the price of the spread will vary, so please adjust accordingly.)
If you are having issues exiting the trade, you can always exit the tested side of the iron condor first, followed by the untested side. Also, if you choose to hold the trade to seek a greater profit, please be aware of the risks.
As always, if you have any questions, please do not hesitate to email me at andy@cabotwealth.com.