To receive further updates on this JPMorgan Chase & Co. (NYSE:JPM) trade as well as an alert when it’s time to take profits, .
My indicators are showing bullish readings again at this time to the same degree they have been for several weeks now. However, the beginning-of-the-month bullishness that we see as fund managers put new capital to work has now passed, and we are really into the meat of October, which in the past has been a dreaded period of time for the bulls.
That being said, while a bit of caution is advised at this point, the market just seems to continue along with its rally, registering six new all-time closing highs in a row. This is very unusual, and it certainly will not last forever, but we do not want to buck the tape in a market like this. Even the threat of the Federal Reserve starting to wind down its balance sheet this month isn’t having any noticeable effect on stocks.
As traders, we never want to buck the tape, and so today I am recommending a bullish trade: calls on JPMorgan Chase & Co. (NYSE:JPM).
Buy to open the JPM Dec 105 Calls (JPM171215C00105000) at $0.55 or lower.
to receive each Trade of the Day direct to your News Feed — and join the conversation.
InvestorPlace advisor brings you , which delivers 5 new options trades and his latest trading advice to you each Friday. It’s the perfect ‘bridge’ between investing in ordinary stocks and the turbocharged world of options trading.
Trester has been trading options since the first exchanges opened in 1973 with a winning streak that goes back to 1984 with money-doubling average annual profits since 1990. .
