🚗JPM Kicks Off Bank Earnings

[] [The daily rundown of everything happening at Option Pit.]( [The daily rundown of everything happening at Option Pit.]( MARK-et Open Hey OP Crew, Griff here with today’s Chart of the Day. JP Morgan Chase (Ticker: JPM) charged out of the box to kick off bank earnings today. Earnings were +20% and revenues +6% … not bad! But this does not include the effects of the regional banking crisis. [ The details show that net interest income – money the Fed pays them on reserves and what they make on collateralized lending of cash – was nearly $21 billion, up $7 billion from a year ago. That will largely go away as the Fed cuts interest rates, which the market expects beginning in Q3 of this year. I sold the news by buying put spreads on JPM and call spreads on the S&P 500 Index ETF (Ticker: SPY). I weighed the trade 2.5 SPY vs 1 JPM. We’ll see how it shakes out as we head into a large monthly expiration on Friday. Have a great weekend everyone. Let’s Go! [ [ - BIG MONEY FLOW: BAC Apr21 29 calls closed for a 63% gain - BIG MONEY FLOW: C Jun16 50/57.5 call spread closed for a 60% gain - BIG MONEY FLOW: GDX May5 35 calls closed for a 50% gain - NITRO TRADER: XLF, ARKK, DVN Apr21 33.5 calls, 39/35.5 put spread, 50 calls closed for a 51% gain - POWER INCOME TRADER: SPY Apr21 409/408 put vertical spread closed for a 36% gain Want to find YOUR winning fit? Give our Customer Care Team a call at 1-888-8772-3301 Monday-Friday from 9 a.m.-5 p.m. EST. Or email them anytime at [support@optionpit.com](mailto:support@optionpit.com?subject=) Pit Report: PFE - An Undervalued Stock The market is not showing much love for Pfizer (Ticker: PFE) since its incredible run after the development and launch of the Comirnaty Covid vaccine. The stock doubled from $30 to $60 in 2021 and has since fallen back to $40 … It may be time to jump back in. Today, we’ll take a deeper dive and consider a bullish strategy at what may turn out to be the bottom of a higher long-term range for them. [Click here for my analysis.]( - Griff Profits In Pumps: V-A-C-A-T-I-O-N This will be my last write-up for a week. I am going on vacation, and it’s too far away to take my computer. I am shutting it down. I think we all need that. A complete respite from work. At least once a year. … okay, maybe twice. [Before I go though, I do have a trade idea for you.]( - Licia AG's Views: On The Fifth Day, The Market Rests From the desk of Option Pit Director of Education Andrew Giovinazzi Stocks and VIX took the day off on Friday, with not much moving in either direction. The Fed mentioned recession on Wednesday, so what happened? We rallied, of course! [ Big tech earnings are not until after next week. It will be hard for VIX to rally. - AG OPTION PIT GLOSSARY [( There are plenty of terms in the trading world that need defining. The [Option Pit Glossary]( is here to help. Today's phrase is: Backwardation: The condition in a spread where the front-month value is higher than the back-month value. [( DISCLAIMER: FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. The materials presented from Option Pit LLC are for your informational and educational purposes only. Neither Option Pit LLC nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational and educational purposes intended is at the user’s own risk. DISCLAIMER: OPTION PIT LLC IS NOT AN INVESTMENT ADVISOR OR REGISTERED BROKER. Option Pit LLC is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented materials. Specific trading ideas or strategies discussed in the presentations or materials are entirely illustrative and do not constitute the solicitation of a transaction (or transactions) or a recommendation to execute a particular transaction or implement a particular trading strategy. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions. This email was sent by support@optionpit.com to {EMAIL} Click here to unsubscribe | [Manage Preference]( Daily Newsletters ex. Vix Edge, Pit Report, Profit in Pumps, Power Moves, Power Income, etc. Option Pit | 190 S LaSalle Suite 3000 Chicago, IL 60603