Buy Alert: October 3, 2016

| October 3, 2016

Buy Alert:  October 3, 2016

 

Trade Details

Buy JPMorgan Chase (JPM) November 18th 67.50 Calls for $1.30 or better (lower)

 

Why?

Wells Fargo (WFC) is getting hammered after their fake bank account scandal, and that’s good news for the other big banks like JPM.  In fact, JPM was already looking like an attractive value play even before the WFC mess.  Now, there are compelling reasons for both customers and investors to look at JPM as the top bank – as a company and as a stock.

We’re going to buy November calls.  Conservative investors can take profits at $68.50.  Aggressive investors can hold up to $70.  For risk control, conservative traders should exit at $64, while more aggressive traders can hold down to $62.

 

Recent Activity

JPMorgan Chase

 

Category: OTW Buy Alerts