JPM Options Flow Points to Bullish Sentiment Ahead of Expiry

JPMorgan's options flow suggests strong bullish positioning ahead of this Friday's expiry. According to data, there were 83,087 total contracts traded on Tuesday, with a call/put ratio of 1.63x, indicating a decisively bullish lean.

Among the notable prints was the Sept 18 $355 call option, which saw 5,688 contracts traded, nearly double the existing open interest. This suggests that traders are taking a sharp 3-day sprint through $355.

However, this bet is not without risk, as these calls are only $2.09 out-of-the-money and will expire worthless if JPM doesn't clear $355 by Friday's close.