Dernières nouvelles pour JPMorgan Chase (NYSE:JPM) Stock

JPMorgan Chase

JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $4.1 trillion in assets. It is organized into four major segments--consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates, and is subject to regulation, in multiple countries.

JPMorgan Chase & Co

JPM GL AGG BND U ETF

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JPMorgan USD Emerging Markets Sovereign Bond ETF

JPM EMB UCI ETF

JPM BB CHINA AGG BD UCITS ETF USD H

JPM-BETAB.U.T.B.0-1Y UCITS ETF

JPMORGAN ETFS (IRELAND) ICAV ETF

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JPMBBUSED ETF

JPM BB US TR UCI ETF

JPM CARBON TRANSITION GLO EQ CTB ETF

JPM CLIMATE CHANGE SOLUTIONS UCITS ETF A

JPMorgan Diversified Return U.S. Mid Cap Equity ETF

JPM GL EM MKTS RE E IDX EQ UCITS ETF

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JPM BB US TR 1 3 UCITS ETF

JPM USD ULTRA-SHORT INCOME UCITS ETF

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JPM I-GL.RES.ENH.I.E. DLA UCITS ETF

JPM ICAV-GL.EQ.M.-F. UCITS ETF

JPM GLOBAL REI EQ SRI PAB UCITS ETF

JPM GREEN SOCIAL SUST BND UCITS ETF

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Tidal Trust II YieldMax JPM Option Income Strategy ETF

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JPM I-US RES.ENH.I.E. DLA UCITS ETF

JPMORGAN CHASE ORD

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 6.00% Non-Cumulative Preferred Stock, Series EE

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 5.75% Non-Cumulative Preferred Stock, Series DD

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of JPMorgan Chase & Co. 4.75% Non-Cumulative Preferred Stock, Series GG

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 4.55% Non-Cumulative Preferred Stock, Series JJ

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 4.625% Non-Cumulative Preferred Stock, Series LL

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 4.20% Non-Cumulative Preferred Stock, Series MM

JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon is unlikely to be tapped as Donald Trump's treasury secretary if Trump wins the 2024 election, following JPMorgan's outright denial of an endorsement.
What Happened: Dimon has not endorsed Trump for president, a fact made clear by a JPMorgan spokesperson, who said, "Jamie Dimon has not endorsed anyone," <a href="https://www.cnbc.com/2024/10/04/trump-jamie-dimon-endorsement-jpmorgan.html">CNBC</a> reports. This statement comes after Trump posted on his Truth Social account, falsely claiming Dimon had backed his candidacy.
Dimon's refusal to endorse Trump, combined with the former president's history of requiring loyalty from his cabinet picks, casts doubt on whether Dimon would be considered for the role of treasury secretary, a position that has been widely speculated.
According to CNBC, Dimon previously indicated he is "not endorsing anyone at this time," distancing himself from political allegiances. Trump has yet to clarify whether Dimon remains a serious contender for the Treasury post.
Also Read: <a href="https://www.benzinga.com/news/24/10/41183626/trump-tells-dave-ramsey-how-he-plans-to-lower-interest-rates-and-inflation-the-first-thing-you-have">Trump Tells Dave Ramsey How He Plans To Lower Interest Rates And Inflation: &#8216;The First Thing You Have To Do Is&#8230;&#8217;</a>
Why It Matters: Trump previously floated the idea of <a href="https://www.benzinga.com/news/24/07/39807207/trump-eyes-jamie-dimon-for-treasury-secretary-rules-out-ousting-fed-chair-jerome-powell">naming Dimon as treasury secretary</a> during a June interview with Bloomberg, despite past tensions between the two. Dimon's lack of an endorsement now raises questions about the likelihood of that appointment.
In the past, many of Trump's cabinet members, including Treasury Secretary Steve Mnuchin, publicly supported him before taking office. Dimon's neutral stance appears to conflict with Trump's preference for loyalists.
Trump's consideration of Dimon for treasury secretary was seen as a pragmatic move, given Dimon's leadership at JPMorgan and stature in the financial world. However, without an endorsement, it is unlikely Trump would select him for a top cabinet role, particularly one as critical as treasury secretary.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41184779/trump-vs-harris-nate-silver-says-florida-isnt-a-lost-cause-for-vice-president-yet-sees-path-to-victo">Trump Vs. Harris: Nate Silver Says Florida Isn&#8217;t A Lost Cause For Vice President Yet, Sees Path To Victory — &#8216;Success Is Unlikely, But The Payoff Is High&#8217;</a></li>
</ul>
Photo: Benzinga file photo by Dustin Blitchok

Politics

Management

Jamie Dimon Rejects Trump Endorsement Claim, Casting Doubt On Treasury Rumors

<a href="https://www.cnbc.com/2024/10/04/trump-jamie-dimon-endorsement-jpmorgan.html?__source=iosappshare%7Ccom.apple.UIKit.activity.PostToTwitter" title="https://www.cnbc.com/2024/10/04/trump-jamie-dimon-endorsement-jpmorgan.html?__source=iosappshare%7Ccom.apple.UIKit.activity.PostToTwitter">https://www.cnbc.com/2024/10/04/trump-jamie-dimon-endorsement-jpmorgan.html?__source=iosappshare%7Ccom.apple.UIKit.activity.PostToTwitter</a>

News

General

'Jamie Dimon denies Trump's claim that JPMorgan CEO has endorsed him' -CNBC Report

JPMorgan (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) is scheduled to kick-start third-quarter 2024 earnings on Oct. 11. The largest American bank&#39;s earnings draw a lot of attention because of its presence in almost all the finance sector businesses. This, thus, offers insight into how the quarterly performance of other banks is likely to be.
JPMorgan&#39;s close peers &ndash; Bank of America (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bac#NYSE">BAC</a>) and Citigroup (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/c#NYSE">C</a>) are slated to announce their quarterly numbers on Oct. 15.
JPM&#39;s second-quarter performance was impressive despite industry-wide operating challenges. This time, we believe the company&#39;s performance will likely remain robust. The Zacks Consensus Estimate for third-quarter revenues of $41.01 billion suggests 2.9% year-over-year growth.
On the other hand, rising provisions for credit losses and higher operating expenses are likely to have hampered JPMorgan&#39;s bottom-line growth. In the past seven days, the consensus estimate for earnings for the to-be-reported quarter has been revised marginally lower to $4.04, indicating a 6.7% decline from the prior-year quarter.
Estimate Revision Trend
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f3/80367.jpg?v=1023181585" />
Image Source: Zacks Investment Research
JPMorgan has an impressive earnings surprise history. The company&#39;s earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, with an average beat being 8.38%.
Earnings Surprise History
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ad/80371.jpg?v=1452486335" />
Image Source: Zacks Investment Research
<h2>Major Factors to Impact JPMorgan&#39;s Q3 Performance</h2>
Net Interest Income: On Sept. 18, the Federal Reserve cut the interest rates by 50 basis points to 4.75-5% for the first time since March 2020. Nonetheless, the development is not expected to have much impact on JPMorgan&#39;s net interest income (NII) during the third quarter.
Further, relatively higher rates might have hurt NII growth prospects because of elevated funding/deposit costs and an inverted yield curve during the major part of the quarter.
Yet, clarity on the Fed&#39;s rate cut path and the stabilizing macroeconomic backdrop are likely to have provided support to the lending scenario. Per the Fed&#39;s latest data, the demand for commercial and industrial, real estate and consumer loans was modest in the first two months of the quarter.
The Zacks Consensus Estimate for NII (reported) of $22.57 billion suggests a slight decline on a year-over-year basis. Our estimate for NII implies a fall of almost 1% to $22.55 billion.
Investment Banking (IB) Fees: Global mergers and acquisitions (M&amp;As) in the third quarter of 2024 showed marked improvement after subdued 2023 and 2022. This is expected to have supported JPMorgan&#39;s IB fees.
Both deal value and volume were decent during the quarter, driven by solid financial performance, higher chances of a soft landing of the U.S. economy, buoyant markets and interest rate cuts. Yet, tough scrutiny by antitrust regulators and lingering geopolitical issues were headwinds. JPMorgan&#39;s leadership in the space is likely to have offered some support to advisory fees.
On the other hand, the IPO market saw signs of cautious optimism, given the market volatility, geopolitical challenges and global monetary easing. The impressive equity market performance drove some solid activity in follow-up equity issuances. Further, bond issuance volume improved on favorable economic conditions and corporate spreads at near historical lows. Thus, growth in JPM&#39;s underwriting fees (accounting for almost 60% of total IB fees) is expected to have been solid during the to-be-reported quarter.
We project IB revenues (in the Corporate &amp; Investment Banking segment) to be $2.39 billion.
Management expects IB revenues to increase 15% on a year-over-year basis driven by robust debt and equity capital markets, while M&amp;A volumes are expected to be &quot;flattish.&quot;
Markets Revenues: Client activity and market volatility were decent in the third quarter. The likelihood of a soft landing of the U.S. economy, cooling inflation and easing monetary policy drove the client activity. So, JPMorgan is likely to have recorded decent growth in markets revenues (comprising nearly 20% of the company&#39;s total revenues) this time.
Our estimates for equity markets revenues and fixed-income markets revenues stand at $2.26 billion and $5.03 billion, respectively.
Management expects markets revenues to be flat or rise almost 2% given the &quot;very, very strong performance in equities across the franchise&quot; partially offset by &quot;a bit weaker&quot; fixed income performance.
Mortgage Banking Fees: As the central bank lowered the rates, mortgage rates started to come down. The rates declined to almost 6.2% by the end of the third quarter. This resulted in a significant surge in refinancing activities while origination volumes remained subdued. Thus, mortgage banking fees are likely to have witnessed some improvement at JPMorgan, while a record last year&#39;s performance is expected to make comparison challenging.
The consensus estimate for mortgage fees and related income of $322.7 million implies a 22% decrease from the prior-year quarter. Our estimate for the metric stands at $337.6 million.
Expenses: JPMorgan&#39;s plan of entering new markets by opening branches, which is already on track, along with inorganic expansion efforts, is likely to have resulted in an increase in operating expenses in the third quarter. Also, investments in technology to strengthen digital offerings might have led to higher costs.
Our estimate for non-interest expenses stands at $22.83 billion, implying an increase of 4.9% on a year-over-year basis.
Asset Quality: JPMorgan is likely to have set aside a huge amount of money for potential delinquent loans (mainly commercial loan defaults), given the expectations of an economic slowdown. Our estimate for provision for credit losses is pegged at $2.44 billion.
The Zacks Consensus Estimate for non-performing loans (NPLs) of $7.96 billion implies a 5.9% increase year over year. The consensus estimate for non-performing assets (NPAs) of $8.69 billion suggests a 6.8% rise. Our estimates for NPAs and NPLs are pegged at $8.29 billion and $7.66 billion, respectively.
<h2>What Our Model Unveils for JPMorgan</h2>
Per our proven model, the chances of JPMorgan beating estimates this time are low. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you can see below.
JPMorgan has an Earnings ESP of -0.25%.
JPM carries a Zacks Rank #3 at present.
<h2>JPM&#39;s Price Performance &amp; Premium Valuation</h2>
JPMorgan was among the top five performing banks on the S&amp;P 500 Index in the first nine months of 2024. The stock outperformed the industry and the S&amp;P 500 Index. Additionally, shares of JPM are trading well above its close peers &ndash; BAC and C.
Price Performance
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f2/80366.jpg?v=5622644" />
Image Source: Zacks Investment Research
JPM stock is not so cheap, as the Value Score of F suggests a stretched valuation at this moment. 
In terms of the forward 12-month Price/Earnings, JPM is trading at 12.25X, higher than the industry&#39;s 11.28X.
Price-to-Earnings (forward 12 Months)
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/55/80369.jpg?v=138088704" />
Image Source: Zacks Investment Research
<h2>How to Play JPM Stock Now?</h2>
JPMorgan is well-poised to benefit from its scale and size, and leverage its leading position in several businesses. The acquisition of First Republic Bank last year continues to support its financials.
JPMorgan is expanding its footprint in new regions and plans to capitalize on cross-selling opportunities. While such expansion plans will lead to higher investment-related expenses, they bode well for the company&#39;s long-term prospects and will provide it an edge over its peers.
During the third quarter, JPM increased its quarterly dividend for the second time this year as it cleared the 2024 stress test. The company also authorized a new share repurchase program.
Yet, the volatile nature of the capital markets business will likely keep JPM&#39;s fee income growth challenging. The stock&#39;s high valuation and bearish analyst stance as the company warned of lower NII next year because of rate cuts weigh on it.
Investors must check out management comments regarding next year&#39;s NII prospects on the third-quarter 2024 conference call before making any investment decision. So, they should consider these factors carefully and evaluate their risk tolerance before buying JPM stock. Those who already own the stock can hold on to it because it is less likely to disappoint over the long term.
<a href="https://www.zacks.com/stock/news/2346143/should-jpmorgan-stock-be-part-of-your-portfolio-ahead-of-q3-earnings?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2346143">To read this article on Zacks.com click here.</a>

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Trading Ideas

Should JPMorgan Stock be Part of Your Portfolio Ahead of Q3 Earnings?

<a href="https://open.substack.com/pub/europeancapitalinsights/p/european-energy-under-threat-from?r=3nmatg&amp;utm_campaign=post&amp;utm_medium=web">European energy markets are more vulnerable to </a>Middle East tensions than the US due to its <a href="https://europeancapitalinsights.substack.com/p/middle-east-unrest-threatens-europes">import dependence and geopolitical exposure</a>. Further military escalation could lead to price spikes and supply disruptions as winter approaches.&nbsp;
Oil prices climbed for the third straight session on Thursday following Iran's missile attacks on Israel on Tuesday. December Brent crude futures rose 5% to $77.62 a barrel on ICE Europe, the highest since August 30.&nbsp;
President Joe Biden said on Thursday that the US is discussing with Israel the possibility of <a href="https://www.bbc.co.uk/news/articles/c3rljzepw5yo.amp">Israeli strikes on Iran's oil infrastructure</a>. This might trigger further upside for prices, while cutting European energy supplies.&nbsp;
<a href="https://ec.europa.eu/eurostat/web/products-eurostat-news/w/ddn-20240701-1">European Union (EU) petroleum oil imports</a> from Saudi Arabia, Libya and Iraq accounted for 23% of its second-quarter imports.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="576" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/04101045/energy_supplies_041024-1-1024x576.jpg" alt="" class="wp-image-1890" style="width:624px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/04101045/energy_supplies_041024-1-1024x576.jpg 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/04101045/energy_supplies_041024-1-300x169.jpg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/04101045/energy_supplies_041024-1-768x432.jpg 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/04101045/energy_supplies_041024-1.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Iranian-Backed Militias Threaten European Energy</h3>
European energy supplies would be impacted if Iranian-backed militias step their attacks on energy infrastructure. 
The Shiite Houthis in Yemen have carried out nearly 100 attacks on ships crossing the Red Sea since November. They say they are <a href="https://www.reuters.com/world/middle-east/houthis-warn-shipowners-new-phase-red-sea-campaign-prepare-be-attacked-2024-10-03/">acting in solidarity with Palestinians</a> in Israel&#8217;s year-long war in Gaza.
A senior official from a coalition of mostly Shiite Muslim paramilitary groups <a href="https://www.garoweonline.com/en/news/world/iraqi-militia-threatens-oil-cutoff-europe-s-winter-energy-at-risk">threatened to halt Mideast energy supplies</a>. <a href="https://europeancapitalinsights.substack.com/">European Capital Insights</a> didn't independently verify the threats.
Iran's "seriously destabilizing actions" throughout the Middle East "must stop," G7 Leaders said in an October 3 statement.&nbsp;
They pointed to <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/10/03/g7-leaders-statement-on-recent-developments-in-the-middle-east/">Iran's terrorist proxies and armed groups</a>, including the Houthis, Hezbollah, and Hamas, and Iran-aligned militia groups in Iraq.
<h3 class="wp-block-heading">Dimon, Lagarde Issue Geopolitical Warnings</h3>
JPMorgan's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon warned that history was repeating itself, even before <a href="https://europeancapitalinsights.substack.com/p/geopolitical-risks-may-be-biggest">the bout of Middle East violence</a>.
"Geopolitics are getting worse," Dimon said at the <a href="https://www.theatlantic.com/live/atlantic-festival-2024/">Atlantic Festival in Washington</a>, D.C. on September 20.&nbsp;&nbsp;
&#8220;The most important thing that dwarfs all other things" since 1945 is "what&#8217;s going on in Israel [and] in the Middle East" and Ukraine, Dimon said. He made his comments at Georgetown University on September 17.
<a href="https://www.ecb.europa.eu/stats/policy_and_exchange_rates/key_ecb_interest_rates/html/index.en.html">European Central Bank</a> (ECB) President <a href="https://www.ecb.europa.eu/ecb/decisions/html/cvlagarde.en.html">Christine Lagarde</a> issued a similar warning on September 20, saying the "<a href="https://europeancapitalinsights.substack.com/p/lagarde-warns-of-profound-uncertainty">uncertainty ahead is profound</a>."&nbsp;
Global pressures resemble those that &#8220;took place a century ago,&#8221; Lagarde said. That resulted in "economic nationalism&#8221; and a collapse in global trade, she said.&nbsp;
<h3 class="wp-block-heading">Spain's Role In European Energy Supplies</h3>
Spain could play a strategic role in moving Europe energy if Middle Eastern routes are disrupted.
Spain does not rely on Middle Eastern oil supplies, providing a risk buffer to any disruptions in European energy supplies. Its oil imports are mainly from the U.S. (14.1%), Mexico (11.4%), and Brazil (10.8%).
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="772" height="647" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/04101144/European-energy_041024.png" alt="" class="wp-image-1891" style="width:624px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/04101144/European-energy_041024.png 772w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/04101144/European-energy_041024-300x251.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/04101144/European-energy_041024-768x644.png 768w" sizes="(max-width: 772px) 100vw, 772px" /></figure>
Source: <a href="https://www.statista.com/statistics/1196686/share-of-spanish-crude-oil-imports-by-country/">Statista</a>, Spain Imports by Country, 2023
Spain can also distribute abroad through its 11 oil port terminals. It has the largest civil pipeline network in Western Europe.
As a <a href="https://www.researchgate.net/figure/Oil-and-gas-pipelines-in-the-Middle-East_fig2_372240169">net exporter of refined oil products</a>, it has a capacity of 1.59 million barrels per day.&nbsp;
The country also has a total storage capacity of approximately <a href="https://docs.google.com/document/d/1rfD2-woznZoAcG5AZcjEn693jGLeaIoXvFTGg3NVvq8/edit?usp=sharing">184 million barrels </a>through 138 sites. This includes strategic reserves managed by CORES, the Corporation of Strategic Reserves of Oil Products.
As the first point of contact for oil shipments <a href="https://www.iea.org/articles/spain-oil-security-policy">rerouted around the Cape of Good Hope</a>, Spain ensures 90% inland oil transportation through its pipelines. For context, Germany ensures only 11%.&nbsp;
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="950" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/04101343/Map-of-Spains-oil-infrastructure-1024x950.avif" alt="" class="wp-image-1892" style="width:624px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/04101343/Map-of-Spains-oil-infrastructure-1024x950.avif 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/04101343/Map-of-Spains-oil-infrastructure-300x278.avif 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/04101343/Map-of-Spains-oil-infrastructure-768x713.avif 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/04101343/Map-of-Spains-oil-infrastructure.avif 1384w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Source: <a href="https://www.iea.org/articles/spain-oil-security-policy">IEA</a>, Spain oil security policy, 2022
<h3 class="wp-block-heading">Repsol Could Benefit from European Energy Risks</h3>
Spain's Repsol (OTC:<a class="ticker" href="https://www.benzinga.com/stock/REPYF#OTC">REPYF</a>) stands out as a beneficiary amid potential disruptions in European energy supplies. 
It has limited exposure to the region and substantial investments in the U.S. and Brazil.&nbsp;
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="336" height="167" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/04101444/European-energy4_041024.png" alt="" class="wp-image-1893" style="width:624px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/04101444/European-energy4_041024.png 336w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/04101444/European-energy4_041024-300x149.png 300w" sizes="(max-width: 336px) 100vw, 336px" /></figure>
Source: <a href="https://www.repsol.com/content/dam/repsol-corporate/en_gb/accionistas-e-inversores/resultados/2024/interim-management-report-for-the-first-half-of-2024.pdf">Repsol 2024 interim report</a>, first half, upstream investments
The company operates five major refineries in Spain with a total production capacity of 1.013 million barrels per day. This is 64% of Spain's entire capacity as of the first half 2024.&nbsp;
Repsol reported a net income of €1.626 billion for the same period, up 15% from the year prior. Additionally, it invested more in growth and diversifying into low-carbon generation and renewable energy.
The energy corporation increased dividends to €0.5 per share in July, a 30% increase compared to 2023. It also maintained a strong liquidity of €9.67 billion.
At an extremely low P/E ratio of 4.4 multiple in an industry averaging 11, <a href="https://www.gurufocus.com/term/pettm/REPYY">Repsol stock appears undervalued</a>. Analyst price targets range from €15 to €20.50, <a href="https://finance.yahoo.com/quote/REP.MC/">averaging a 46% upside</a> to €17.72 per share as of October 4.
Disclaimer:
Any opinions expressed in this article are not to be considered investment advice and are solely those of the authors. European Capital Insights is not responsible for any financial decisions made based on the contents of this article. Readers may use this article for information and educational purposes only.&nbsp;
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Eurozone

REPYF

European Energy Supplies Under Threat From Mideast War

Deep-pocketed investors have adopted a bullish approach towards JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in JPM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for JPMorgan Chase. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 46% leaning bullish and 46% bearish. Among these notable options, 4 are puts, totaling $332,489, and 9 are calls, amounting to $434,140.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $150.0 and $220.0 for JPMorgan Chase, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for JPMorgan Chase's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of JPMorgan Chase's whale activity within a strike price range from $150.0 to $220.0 in the last 30 days. 
<h3>JPMorgan Chase Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728051372_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$3.05</td>
<td>$2.75</td>
<td>$2.83</td>
<td>$150.00</td>
<td>$169.8K</td>
<td>222</td>
<td style="text-align: right;">600</td>
</tr>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$10.9</td>
<td>$10.6</td>
<td>$10.6</td>
<td>$200.00</td>
<td>$106.0K</td>
<td>4.0K</td>
<td style="text-align: right;">606</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$2.8</td>
<td>$2.74</td>
<td>$2.74</td>
<td>$195.00</td>
<td>$102.9K</td>
<td>4.5K</td>
<td style="text-align: right;">378</td>
</tr>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$6.85</td>
<td>$6.75</td>
<td>$6.75</td>
<td>$220.00</td>
<td>$70.8K</td>
<td>6.4K</td>
<td style="text-align: right;">113</td>
</tr>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/25/24</td>
<td>$8.2</td>
<td>$8.0</td>
<td>$8.13</td>
<td>$205.00</td>
<td>$49.5K</td>
<td>271</td>
<td style="text-align: right;">75</td>
</tr>
</tbody>
</table>

<h3>About JPMorgan Chase</h3>
JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $4.1 trillion in assets. It is organized into four major segments--consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates, and is subject to regulation, in multiple countries.
After a thorough review of the options trading surrounding JPMorgan Chase, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>JPMorgan Chase's Current Market Status</h3>
<ul>
<li>Trading volume stands at 1,719,729, with JPM's price up by 2.12%, positioned at $208.3.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 7 days.</li>
</ul>
<h3>What Analysts Are Saying About JPMorgan Chase</h3>
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $227.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for JPMorgan Chase, targeting a price of $234. 
&#x2A; An analyst from Morgan Stanley has decided to maintain their Overweight rating on JPMorgan Chase, which currently sits at a price target of $220. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for JPMorgan Chase with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Check Out What Whales Are Doing With JPM

JP Morgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) shares are trading higher on Friday. On October 1, 2024, the company became a substantial shareholder in The Star Entertainment Group Limited, acquiring <a target="_blank" href="https://www.starentertainmentgroup.com.au/wp-content/uploads/2024/10/03-OCT-2024-ASX-Announcement-Notification-of-Substantial-Shareholding.pdf" rel="noreferrer noopener">156.99 million </a>ordinary shares, representing 5.47% voting power.
Star Entertainment is an Australian casino operator. The company has been in troubled waters due to liquidity issues, and shares dipped by 66% in 2023, reported Reuters.
Star Entertainment owns and operates The Star Sydney, The Star Gold Coast and Treasury Brisbane. It also manages the Gold Coast Convention and Exhibition Centre on behalf of the Queensland Government.
This week, JP Morgan expanded its Canadian business by launching two active ETFs on the Toronto Stock Exchange. The new ETFs target income-focused Canadian investors, <a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41144035/j-p-morgan-launches-new-etfs-plans-to-add-jobs-in-canada" rel="noreferrer noopener">offering capital appreciation and steady income</a>.
Along with this, JP Morgan planned to expand its asset management business in Canada, expecting to add up to 20 jobs over the next 18 months.
Investors can gain access to the stock via&nbsp;iShares U.S. Financial Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYG#NYSE">IYG</a>) and&nbsp;SPDR Select Sector Fund – Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>).
Price Action: JPM shares are up 1.73% at $208.78 at the last check Friday.
Photo by Katherine Welles on Shutterstock
Read Next:
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After securing a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41175197/openais-latest-eye-popping-valuation-ignites-analyst-expectations-for-tidal-wave-of">whopping $6.6 billion funding</a> round, ChatGPT-parent&nbsp;OpenAI has bagged a&nbsp;$4 billion revolving credit line.
What Happened: The new credit facility will bolster its liquidity to $10 billion, allowing the AI startup to invest in high-cost <a href="https://www.benzinga.com/markets/equities/24/07/39856365/openai-in-talks-with-broadcom-to-develop-new-ai-chip-aims-to-reduce-reliance-on-nvidia-report">computing capacity</a> including Nvidia Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips.
&#8220;This credit facility further strengthens&nbsp;our balance sheet and provides&nbsp;flexibility to seize future growth&nbsp;opportunities,&#8221; said OpenAI CFO&nbsp;Sarah Friar, in a blog on Thursday.
The credit line is facilitated by a consortium of banks: JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Citigroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), Banco Santander S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAN#NYSE">SAN</a>), Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), Sumitomo Mitsui Banking&nbsp;Corporation, UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>), and HSBC Holdings plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSBC#NYSE">HSBC</a>).
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Earlier this week, OpenAI, <a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">valued at nearly $157 billion</a>, raised funds&nbsp;from returning venture capital investors&nbsp;such as&nbsp;Thrive Capital and Khosla Ventures.
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), which has already invested approximately $13 billion into the AI firm over the last five years,&nbsp;and new investor Nvidia, also&nbsp;participated in the funding round.
Despite <a href="https://www.benzinga.com/news/24/09/41059344/sam-altman-hits-back-at-trolls-after-mira-muratis-openai-exit-explains-executive-drain-as-natural-we">major executive changes</a>, including the sudden exit of CTO Mira Murati, investors remain optimistic about OpenAI&#8217;s growth prospects.
However, OpenAI has also faced criticism from Elon Musk, who accused the company of&nbsp;<a href="https://www.benzinga.com/news/24/10/41156902/elon-musk-says-openai-is-evil-after-chatgpt-parent-reportedly-asked-investors-not-to-invest-in-rival">unfair funding practices</a>.
On the other hand, analysts expect a &#8220;tidal wave&#8221; of AI spending, with OpenAI&#8217;s latest valuation seen as a trigger for this growth stage.
Photo Courtesy: Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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JPMorgan Chase and Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) analysts are observing a trend where investors are increasingly turning to gold and Bitcoin as &#8220;safe-haven&#8221; assets amid rising geopolitical tensions and the <a href="https://www.benzinga.com/news/24/10/41159858/trumps-niece-calls-concessions-tim-walz-made-to-his-opponent-during-tuesdays-debate-shocking-won-not">upcoming U.S. presidential election</a>.
What Happened: This shift, referred to as the &#8220;debasement trade,&#8221; is driven by concerns over economic instability and currency devaluation, The Block <a href="https://www.theblock.co/post/319369/jpmorgan-says-geopolitical-risk-could-drive-investors-to-gold-and-bitcoin?utm_source=rss&amp;utm_medium=rss">reported</a>.
&#8220;Rising geopolitical tensions and the coming U.S. election are likely to reinforce what some investors call the &#8216;debasement trade&#8217; thus favoring both gold and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>),&#8221; J.P. Morgan&#8217;s team, including analysts Nikolaos Panigirtzoglou, Mika Inkinen, Mayur Yeole and Krutik P Mehta, noted in their recent report.
Gold&#8217;s price initially showed a muted response to recent geopolitical events but surged to almost $2,700 on Sep. 26.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
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This rise is partly due to a decline in the dollar by about 4-5% and a significant drop in real U.S. Treasury yields by 50-80 basis points. 
Yet, the analysts argue that these factors alone do not fully explain the sharp increase in gold&#8217;s value, indicating the return of the &#8220;debasement trade.&#8221;
The "debasement trade" is influenced by a mix of factors, including the escalation of geopolitical uncertainties since 2022, ongoing inflation concerns, large government deficits in major economies, and a weakening confidence in fiat currencies, particularly in certain emerging markets.
Why It Matters: The current geopolitical climate, including conflicts like the Iran-Israel situation, has heightened market volatility. According to <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41166146/would-bitcoin-drop-if-a-war-in-the-middle-east-breaks-out-yes-but-theres-a-catch">Santiment</a>, the Fear and Greed Index has shifted into the fear zone, reflecting the market&#8217;s uncertainty.
Additionally, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41141317/bitcoin-tends-to-lag-gold-by-a-few-months-and-is-destined-for-upside-says-expert">Charles Edwards</a>, founder of Capriole Investments, suggested that Bitcoin&#8217;s strong correlation with U.S. liquidity measures and gold&#8217;s recent breakout to new highs indicate a bullish outlook for Bitcoin. He noted that Bitcoin tends to lag gold by a few months, suggesting it could follow gold&#8217;s upward trajectory.
What&#8217;s Next: To gain further insights into these developments, the upcoming Benzinga <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19 will provide an ideal platform for investors and enthusiasts alike to deepen their understanding of such trends.
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Bitcoin, Gold Are The 'Debasement Trade' In Uncertain Times: JPMorgan

Geopolitical risks may be the biggest threat to global markets, <a href="https://www.bankofengland.co.uk/financial-policy-summary-and-record/2024/october-2024">the Bank of England (BoE) warned</a> on Wednesday.
"Global vulnerabilities remain material, as does uncertainty around the geopolitical environment," the BoE said. &#8220;Markets remain susceptible to a sharp correction.&#8221;
The BoE published its Financial Policy Committee Record a day after Iran launched <a href="https://apnews.com/article/israel-lebanon-hezbollah-gaza-news-10-01-2024-eb175dff6e46906caea8b9e43dfbd3da">at least 180 ballistic missiles at Israel</a>. The barrage of missiles has increased fears of wider war in the Middle East.&nbsp;
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="801" height="427" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/02140357/Image1_021024.png" alt="" class="wp-image-1758" style="width:624px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/02140357/Image1_021024.png 801w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/02140357/Image1_021024-300x160.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/02140357/Image1_021024-768x409.png 768w" sizes="(max-width: 801px) 100vw, 801px" /></figure>
A map showing the sirens sounded across Israel as the barrage began Source: <a href="http://msn.com">msn.com</a>&nbsp;
<a href="https://europeancapitalinsights.substack.com/p/weekly-roundup-european-equities">Concerns about an escalation in Mideast violence</a> increased after Israel killed Hezbollah's leader Hassan Nasrallah in airstrikes on September 27.&nbsp;
JPMorgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon warned on September 24 that there was "a lot of war taking place right now."
"My caution is all geopolitics," he said i<a href="https://www.cnbctv18.com/business/jamie-dimon-jpmorgan-us-china-tensions-india-opportunity-19481213.htm">n an interview with CNBC TV18</a> at a JPM conference in Mumbai.
<h3 class="wp-block-heading">Global Markets React To Geopolitical Risks</h3>
European markets and global oil prices reacted quickly to the ballistic missile attack.&nbsp;
The Euro Area Stoxx 600 continued its retreat from its record high, trading flat today. Germany's DAX40 pulled back from its record level, falling 0.55% today and continuing its 1.8% retreat a high of 19,473.
Brent crude oil rose 3.19% after the attack on Tuesday, reversing most of its September slump.
The World Bank said in April severe disruption in oil supplies could push Brent <a href="https://www.worldbank.org/en/news/press-release/2024/04/25/commodity-markets-outlook-april-2024-press-release">oil prices above $100 per barrel</a>.&nbsp;
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="469" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/02141342/image21024-1024x469.png" alt="" class="wp-image-1760" style="width:624px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/02141342/image21024-1024x469.png 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/02141342/image21024-300x138.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/02141342/image21024-768x352.png 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/02141342/image21024.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
"The geopolitically-driven increases in oil prices continue this morning," Mohamed El-Erian, Queens' College Cambridge president, wrote on <a href="https://x.com/elerianm/status/1841457584592879764">X</a>.&nbsp;
 "Because there has been no actual disruption," oil prices haven&#8217;t spiked, El-Erian, who is also a Bloomberg Opinion columnist, wrote.
<a href="https://europeancapitalinsights.substack.com/p/iran-israel-war-will-curb-eu-economic">A further conflagration could</a> drive up prices of natural gas, fertilizers, and food, the World Bank said at the time.
"No oil and gas facilities have been damaged and logistics keep working," <a href="https://advanced.jhu.edu/directory/paul-sullivan/">Paul Sullivan</a>, a John Hopkins University Lecturer, said.
"Risk premia for oil and oil transport could increase significantly if there is a directed attack" on infrastructure, he added.
<h3 class="wp-block-heading">Geopolitical Developments Worry ECB Officials</h3>
But European Central Bank (ECB) officials are concerned about the spike in geopolitical uncertainty.&nbsp;A spike in energy prices could reverse the slowdown in inflation reported across much of Europe.&nbsp;
Euro area <a href="https://ec.europa.eu/eurostat/en/web/products-euro-indicators/w/2-01102024-ap">annual inflation slowed to 1.8% in September</a> from 2.2% in August, the EU statistical office said on Tuesday.&nbsp;
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="806" height="576" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/02141615/image2_021024.png" alt="" class="wp-image-1761" style="width:624px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/02141615/image2_021024.png 806w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/02141615/image2_021024-300x214.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/02141615/image2_021024-768x549.png 768w" sizes="(max-width: 806px) 100vw, 806px" /></figure>
"We are facing huge uncertainty – not least in view of the many prevailing economic, financial and geopolitical risks,"&nbsp; Luis de Guindos, Vice-President of the ECB, said the same day.&nbsp;&nbsp;
The ECB official spoke at the 5th joint ECB, Bank of Canada and Federal Reserve Bank of New York Conference.
<a href="https://www.ecb.europa.eu/press/key/date/2024/html/ecb.sp241002~33cedce2bc.en.html">De Guindos said in Riga</a> today that the economic revival in the euro area is likely to gain momentum.
He expressed optimism that faster growth could be achieved following a<a href="https://www.actionforex.com/live-comments/570254-ecbs-de-guindos-cites-weaker-growth-outlook-expects-recovery-to-strengthen-over-time/"> disappointing second quarter</a>. However, he warned that risks in the bloc are still "tilted to the downside.
<h3 class="wp-block-heading">Geopolitical Uncertainty Main Risk&nbsp;</h3>
A BoE survey conducted in late July and early August echoed the prevailing concerns about geopolitical uncertainty.&nbsp;
The <a href="https://www.bankofengland.co.uk/systemic-risk-survey/2024/2024-h2#:~:text=Geopolitical%20risk%20(cited%20by%2093,%2C%20%2B10%20percentage%20points).">BoE found that 93% of the 55 banks </a> that responded placed geopolitical risk as the biggest concern. That was the highest level recorded in the survey which goes back to 2008.
The elevated geopolitical uncertainty could place "further pressure on sovereign debt levels and borrowing costs, &#8221; the BoE said today.
The UK&#8217;s central bank pointed to "structural trends, such as demographics and climate change," as factors that could undermine markets.&nbsp;
Sharp market corrections "could affect the cost and availability of credit to UK households and businesses," it said.&nbsp;
Disclaimer:
Any opinions expressed in this article are not to be considered investment advice and are solely those of the authors. European Capital Insights is not responsible for any financial decisions made based on the contents of this article. Readers may use this article for information and educational purposes only.
This article is from an unpaid external contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.

Commodities

Economics

Geopolitical Risks May Be Biggest Threat To Markets, BoE Says

JP Morgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) shares are trading marginally higher on Wednesday. On Tuesday, J.P. Morgan Asset Management disclosed the expansion of its <a target="_blank" href="https://www.newswire.ca/news-releases/j-p-morgan-asset-management-launches-first-etfs-in-canada-828827983.html" rel="noreferrer noopener">Canadian </a>business with the launch of two active ETFs.
This launch strengthens JPMAM&#8217;s presence in Canada and provides increased access to global investment strategies through financial advisors.
Starting October 1, 2024, Canadian investors can access the JPMorgan US Equity Premium Income Active ETF (TSX:<a class="ticker" href="https://www.benzinga.com/stock/JEPI#TSX">JEPI</a>) and the JPMorgan Nasdaq Equity Premium Income Active ETF (TSX:<a class="ticker" href="https://www.benzinga.com/stock/JEPQ#TSX">JEPQ</a>) on the Toronto Stock Exchange.
In line with JPMAM&#8217;s strategy, the two ETFs target equities for potential capital appreciation and steady income, appealing to income-focused Canadian investors.
Travis Hughes, Head of&nbsp;Canada, J.P. Morgan Asset Management, said, &#8220;The introduction of the J.P. Morgan ETFs in&nbsp;Canada&nbsp;is an important advancement of our&nbsp;Canada&nbsp;market strategy, with these offerings representing the first of a broad suite of active ETF solutions we plan to deliver over time.&#8221;
&#8220;As home to the first ETF,&nbsp;Canada&nbsp;is an ideal market for these offerings. The listing of JEPI and JEPQ is a significant milestone for JPMAM as it brings focus to both the firm&#8217;s success as an active manager and the breadth and depth of its global products.&#8221;
Along with this launch, JP Morgan plans to expand its asset management business in Canada, expecting to add up to 20 jobs over the next 18 months, reported Reuters.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40962425/jp-morgan-targets-uk-with-fresh-credit-card-offering-report" rel="noreferrer noopener">JP Morgan Targets UK With Fresh Credit Card Offering: Report</a>
Investors can gain access to the stock via&nbsp;iShares U.S. Financial Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYG#NYSE">IYG</a>) and&nbsp;SPDR Select Sector Fund – Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>).
Price Action: JPM shares are up 0.14% at $207.33 at the last check Wednesday.
Photo by Katherine Welles on Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/40967938/jpmorgan-ceo-jamie-dimon-calls-for-federal-employees-to-return-to-office-says-empty-buildings-bother" target="_blank" rel="noreferrer noopener">JPMorgan CEO Jamie Dimon Calls For Federal Employees To Return To Office, Says Empty Buildings &#8216;Bother&#8217; Him: &#8216;I Can&#8217;t Believe&#8230;&#8217;</a></li>
</ul>

JEPI

JEPQ

TSX:JEPI

TSX:JEPQ

J.P. Morgan Launches New ETFs, Plans To Add Jobs In Canada

Providing a diverse range of perspectives from bullish to bearish, 12 analysts have published ratings on JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) in the last three months.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">9</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $222.17, a high estimate of $235.00, and a low estimate of $211.00. Witnessing a positive shift, the current average has risen by 2.99% from the previous average price target of $215.73.
<img src="https://www.benzinga.com/files/images/story/2024/1727881254_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive JPMorgan Chase. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Chris Kotowski</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$234.00</td>
<td>$221.00</td>
</tr>
<tr>
<td>Betsy Graseck</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$220.00</td>
<td>$226.00</td>
</tr>
<tr>
<td>Matt O'Connor</td>
<td>Deutsche Bank</td>
<td>Announces</td>
<td>Hold</td>
<td>$235.00</td>
<td>-</td>
</tr>
<tr>
<td>Betsy Graseck</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$226.00</td>
<td>$221.00</td>
</tr>
<tr>
<td>Glenn Schorr</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$211.00</td>
<td>$210.00</td>
</tr>
<tr>
<td>Keith Horowitz</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$215.00</td>
<td>$205.00</td>
</tr>
<tr>
<td>Mike Mayo</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$225.00</td>
<td>$220.00</td>
</tr>
<tr>
<td>Scott Siefers</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$230.00</td>
<td>$220.00</td>
</tr>
<tr>
<td>Jason Goldberg</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$217.00</td>
<td>$212.00</td>
</tr>
<tr>
<td>Chris Kotowski</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$221.00</td>
<td>$215.00</td>
</tr>
<tr>
<td>Betsy Graseck</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$221.00</td>
<td>$214.00</td>
</tr>
<tr>
<td>David Konrad</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$211.00</td>
<td>$209.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to JPMorgan Chase. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of JPMorgan Chase compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of JPMorgan Chase's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of JPMorgan Chase's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/JPM/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on JPMorgan Chase analyst ratings.</a>
<h2>Get to Know JPMorgan Chase Better</h2>
JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $4.1 trillion in assets. It is organized into four major segments--consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates, and is subject to regulation, in multiple countries.
<h3>A Deep Dive into JPMorgan Chase's Financials</h3>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Revenue Growth: JPMorgan Chase displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 29.74%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Financials sector.
Net Margin: JPMorgan Chase's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 35.39%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): JPMorgan Chase's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 5.68% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): JPMorgan Chase's ROA stands out, surpassing industry averages. With an impressive ROA of 0.43%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: With a below-average debt-to-equity ratio of 1.39, JPMorgan Chase adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Analyst Ratings: What Are They?</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Glimpse Into The Expert Outlook On JPMorgan Chase Through 12 Analysts

Oppenheimer analyst Chris Kotowski maintains JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) with a Outperform and raises the price target from $221 to $234.

Price Target

Oppenheimer Maintains Outperform on JPMorgan Chase, Raises Price Target to $234

JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) has outperformed the market over the past 10 years by 1.97% on an annualized basis producing an average annual return of 13.36%. Currently, JPMorgan Chase has a market capitalization of $590.93 billion. 
Buying $100 In JPM: If an investor had bought $100 of JPM stock 10 years ago, it would be worth $345.20 today based on a price of $207.70 for JPM at the time of writing.
<h3>JPMorgan Chase's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727794900_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $100 Invested In JPMorgan Chase 10 Years Ago Would Be Worth Today

Whales with a lot of money to spend have taken a noticeably bearish stance on JPMorgan Chase.
Looking at options history for JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) we detected 60 trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 43 are puts, for a total amount of $2,869,780 and 17, calls, for a total amount of $1,617,064.
<h3>Predicted Price Range</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $155.0 to $225.0 for JPMorgan Chase over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for JPMorgan Chase's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of JPMorgan Chase's whale activity within a strike price range from $155.0 to $225.0 in the last 30 days. 
<h3>JPMorgan Chase 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727723722_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$2.5</td>
<td>$2.45</td>
<td>$2.46</td>
<td>$225.00</td>
<td>$492.0K</td>
<td>13.8K</td>
<td>2.2K</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>03/21/25</td>
<td>$3.85</td>
<td>$3.75</td>
<td>$3.8</td>
<td>$180.00</td>
<td>$380.0K</td>
<td>2.3K</td>
<td>1.0K</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$4.3</td>
<td>$4.2</td>
<td>$4.3</td>
<td>$200.00</td>
<td>$215.0K</td>
<td>4.0K</td>
<td>543</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/18/25</td>
<td>$12.6</td>
<td>$12.4</td>
<td>$12.4</td>
<td>$200.00</td>
<td>$186.0K</td>
<td>753</td>
<td>150</td>
</tr>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$56.7</td>
<td>$56.7</td>
<td>$56.7</td>
<td>$160.00</td>
<td>$119.0K</td>
<td>871</td>
<td>21</td>
</tr>
</tbody>
</table>

<h3>About JPMorgan Chase</h3>
JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $4.1 trillion in assets. It is organized into four major segments--consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates, and is subject to regulation, in multiple countries.
Having examined the options trading patterns of JPMorgan Chase, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of JPMorgan Chase</h3>
<ul>
<li>With a volume of 4,170,048, the price of JPM is down -0.59% at $209.25. </li>
<li>RSI indicators hint that the underlying stock may be approaching oversold.</li>
<li>Next earnings are expected to be released in 11 days.</li>
</ul>
<h3>Expert Opinions on JPMorgan Chase</h3>
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $227.5.
Unusual Options Activity Detected: Smart Money on the Move
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&#x2A; An analyst from Deutsche Bank downgraded its action to Hold with a price target of $235. 
&#x2A; An analyst from Morgan Stanley persists with their Overweight rating on JPMorgan Chase, maintaining a target price of $220. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for JPMorgan Chase with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

JPMorgan Chase Options Trading: A Deep Dive into Market Sentiment

Financial giants have made a conspicuous bullish move on JPMorgan Chase. Our analysis of options history for JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) revealed 31 unusual trades.
Delving into the details, we found 48% of traders were bullish, while 35% showed bearish tendencies. Out of all the trades we spotted, 11 were puts, with a value of $429,963, and 20 were calls, valued at $1,022,321.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $160.0 to $225.0 for JPMorgan Chase over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for JPMorgan Chase options trades today is 2599.95 with a total volume of 7,714.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for JPMorgan Chase's big money trades within a strike price range of $160.0 to $225.0 over the last 30 days.
<h3>JPMorgan Chase Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727295360_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$3.95</td>
<td>$3.9</td>
<td>$3.9</td>
<td>$212.50</td>
<td>$78.0K</td>
<td>537</td>
<td>442</td>
</tr>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$3.65</td>
<td>$3.6</td>
<td>$3.65</td>
<td>$212.50</td>
<td>$73.0K</td>
<td>537</td>
<td>660</td>
</tr>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$20.7</td>
<td>$20.65</td>
<td>$20.7</td>
<td>$195.00</td>
<td>$72.4K</td>
<td>3.5K</td>
<td>60</td>
</tr>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$3.6</td>
<td>$3.5</td>
<td>$3.54</td>
<td>$212.50</td>
<td>$70.8K</td>
<td>537</td>
<td>1.1K</td>
</tr>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$42.6</td>
<td>$42.2</td>
<td>$42.6</td>
<td>$180.00</td>
<td>$68.1K</td>
<td>716</td>
<td>21</td>
</tr>
</tbody>
</table>

<h3>About JPMorgan Chase</h3>
JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $4.1 trillion in assets. It is organized into four major segments--consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates, and is subject to regulation, in multiple countries.
Following our analysis of the options activities associated with JPMorgan Chase, we pivot to a closer look at the company's own performance.
<h3>Current Position of JPMorgan Chase</h3>
<ul>
<li>With a volume of 8,218,659, the price of JPM is down -0.66% at $210.19. </li>
<li>RSI indicators hint that the underlying stock may be approaching oversold.</li>
<li>Next earnings are expected to be released in 16 days.</li>
</ul>
<h3>What The Experts Say On JPMorgan Chase</h3>
2 market experts have recently issued ratings for this stock, with a consensus target price of $227.5.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Morgan Stanley persists with their Overweight rating on JPMorgan Chase, maintaining a target price of $220. 
&#x2A; An analyst from Deutsche Bank has revised its rating downward to Hold, adjusting the price target to $235. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for JPMorgan Chase with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

A Closer Look at JPMorgan Chase's Options Market Dynamics

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PYPL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$80.00</td>
<td>$1.5 million</td>
<td>5.0K</td>
<td>2.0K</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$57.50</td>
<td>$29.4K</td>
<td>9.3K</td>
<td>1.2K</td>
</tr>
<tr>
<td>GPN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$100.00</td>
<td>$26.0K</td>
<td>589</td>
<td>1.0K</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$62.00</td>
<td>$33.3K</td>
<td>900</td>
<td>835</td>
</tr>
<tr>
<td>CUBI</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$42.50</td>
<td>$37.5K</td>
<td>10</td>
<td>502</td>
</tr>
<tr>
<td>V</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$255.00</td>
<td>$72.5K</td>
<td>512</td>
<td>267</td>
</tr>
<tr>
<td>USB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$42.50</td>
<td>$104.9K</td>
<td>837</td>
<td>250</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$195.00</td>
<td>$30.5K</td>
<td>4.0K</td>
<td>177</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/04/24</td>
<td>$167.50</td>
<td>$33.7K</td>
<td>175</td>
<td>157</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$52.50</td>
<td>$29.6K</td>
<td>18</td>
<td>154</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding PYPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), we observe a call option trade with bearish sentiment. It expires in 177 day(s) on March 21, 2025. Parties traded 2000 contract(s) at a $80.00 strike. The total cost received by the writing party (or parties) was $1.5 million, with a price of $760.0 per contract. There were 5089 open contracts at this strike prior to today, and today 2055 contract(s) were bought and sold. 
• Regarding WFC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), we observe a call option trade with bullish sentiment. It expires in 51 day(s) on November 15, 2024. Parties traded 300 contract(s) at a $57.50 strike. The total cost received by the writing party (or parties) was $29.4K, with a price of $98.0 per contract. There were 9343 open contracts at this strike prior to today, and today 1209 contract(s) were bought and sold. 
• Regarding GPN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>), we observe a put option sweep with bearish sentiment. It expires in 23 day(s) on October 18, 2024. Parties traded 70 contract(s) at a $100.00 strike. This particular put needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $26.0K, with a price of $372.0 per contract. There were 589 open contracts at this strike prior to today, and today 1040 contract(s) were bought and sold. 
• Regarding SQ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), we observe a call option sweep with bearish sentiment. It expires in 23 day(s) on October 18, 2024. Parties traded 66 contract(s) at a $62.00 strike. This particular call needed to be split into 14 different trades to become filled. The total cost received by the writing party (or parties) was $33.3K, with a price of $505.0 per contract. There were 900 open contracts at this strike prior to today, and today 835 contract(s) were bought and sold. 
• Regarding CUBI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUBI#NYSE">CUBI</a>), we observe a put option sweep with bearish sentiment. It expires in 23 day(s) on October 18, 2024. Parties traded 250 contract(s) at a $42.50 strike. This particular put needed to be split into 31 different trades to become filled. The total cost received by the writing party (or parties) was $37.5K, with a price of $150.0 per contract. There were 10 open contracts at this strike prior to today, and today 502 contract(s) were bought and sold. 
• For V (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), we notice a put option trade that happens to be bearish, expiring in 86 day(s) on December 20, 2024. This event was a transfer of 145 contract(s) at a $255.00 strike. The total cost received by the writing party (or parties) was $72.5K, with a price of $500.0 per contract. There were 512 open contracts at this strike prior to today, and today 267 contract(s) were bought and sold. 
• For USB (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), we notice a call option sweep that happens to be bullish, expiring in 268 day(s) on June 20, 2025. This event was a transfer of 200 contract(s) at a $42.50 strike. This particular call needed to be split into 17 different trades to become filled. The total cost received by the writing party (or parties) was $104.9K, with a price of $525.0 per contract. There were 837 open contracts at this strike prior to today, and today 250 contract(s) were bought and sold. 
• For JPM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), we notice a put option sweep that happens to be bearish, expiring in 51 day(s) on November 15, 2024. This event was a transfer of 100 contract(s) at a $195.00 strike. This particular put needed to be split into 20 different trades to become filled. The total cost received by the writing party (or parties) was $30.5K, with a price of $305.0 per contract. There were 4051 open contracts at this strike prior to today, and today 177 contract(s) were bought and sold. 
• For COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we notice a call option sweep that happens to be bearish, expiring in 9 day(s) on October 4, 2024. This event was a transfer of 50 contract(s) at a $167.50 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $33.7K, with a price of $679.0 per contract. There were 175 open contracts at this strike prior to today, and today 157 contract(s) were bought and sold. 
• Regarding AFRM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), we observe a call option trade with bearish sentiment. It expires in 359 day(s) on September 19, 2025. Parties traded 32 contract(s) at a $52.50 strike. The total cost received by the writing party (or parties) was $29.6K, with a price of $925.0 per contract. There were 18 open contracts at this strike prior to today, and today 154 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AFRM

COIN

CUBI

PYPL

10 Financials Stocks Whale Activity In Today's Session

Elon Musk, CEO of Tesla Inc., endorsed Jamie Dimon&#8216;s views on border control. According to a post on X, Musk said &#8220;Jamie Dimon is right.&#8221; This statement was made on Wednesday in response to an eight-month-old interview clip of the JPMorgan Chase CEO.
What Happened: In January, Dimon <a href="https://youtu.be/kmzqPriZ7b0?feature=shared">discussed</a> various topics on CNBC&#8217;s &#8216;Squawk Box,&#8217; including his meeting with Ukrainian President Volodymyr Zelenskyy, geopolitical issues, and the state of the economy. During the interview, Dimon emphasized the importance of border control, stating, &#8220;If you do not control the borders, you&#8217;re going to destroy our country.&#8221;
Dimon also mentioned that even his &#8220;super liberal friends&#8221; have started to understand the challenges of sending migrants to cities like New York. He questioned whether it had to reach this point for people to realize the problem.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Jamie Dimon is right <a href="https://t.co/UurYSA4jei">https://t.co/UurYSA4jei</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1838643528143917196?ref_src=twsrc%5Etfw">September 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Musk has been vocal about <a href="https://www.benzinga.com/government/24/02/37356279/elon-musk-rings-alarm-bell-on-immigrant-influx-flood-of-illegals-is-crushing-the-country">immigration issues for some time</a>. In February, he warned about the impact of illegal immigration, stating, "I am ringing the alarm bell, because the flood of illegals is crushing the country!"
See Also: <a href="https://www.benzinga.com/government/24/09/40971374/elon-musk-responds-to-venture-capitalists-claim-on-government-subsidies-for-spacex-tesla-do-some-res?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Responds to Venture Capitalist&#8217;s Claim On Government Subsidies For SpaceX, Tesla: &#8216;Do Some Research Before You Display Your Utter Ignorance&#8217;</a>
Why It Matters: In March, Musk criticized the U.S. immigration system, calling it &#8220;<a href="https://www.benzinga.com/news/24/03/37573179/elon-musk-blames-bizarrely-difficult-and-agonizingly-slow-legal-process-to-immigrate-to-us-for-unvet">bizarrely difficult and agonizingly slow</a>.&#8221; He advocated for expedited legal immigration for talented and hardworking individuals.
In April, Musk reiterated his stance, supporting a &#8220;simplified legal immigration process.&#8221; He emphasized the need to separate the issues of <a href="https://www.benzinga.com/news/24/04/38488525/elon-musk-advocates-for-easier-and-simplified-legal-immigration-process-amid-migrant-influx">legal and illegal immigration</a>.
Democratic nominee for president,&nbsp;Kamala Harris expressed her intention to enforce stricter border legislation and uphold laws against illegal border crossings in <a href="https://www.benzinga.com/news/24/08/40648237/kamala-harris-vows-tougher-border-policy-supports-israels-armament-in-first-major-interview-as-presi">an&nbsp;interview with CNN</a>. 
President&nbsp;Joe Biden&nbsp;in February&nbsp;<a href="https://www.benzinga.com/general/politics/24/02/36970427/crisis-of-illegal-immigration-new-survey-shows-record-number-of-voters-cry-major-issue-but-who-g">vowed to shut down</a>&nbsp;the border between the U.S. and Mexico if Congress approves a bipartisan bill.
A Morning Consult&nbsp;<a href="https://pro.morningconsult.com/instant-intel/biden-border-crisis-polling" target="_blank" rel="noreferrer noopener">poll&nbsp;</a>asked voters if they thought the U.S. was facing &#8220;a crisis of illegal immigration across the U.S.-Mexico border.&#8221; The poll results showed a record high of 57% of respondents answering &#8220;yes,&#8221; marking the highest percentage during the presidencies of both Biden and Trump. This is an increase from 50% in March 2021, 37% in April 2019, and 42% in January 2019.
In February Trump&nbsp;revealed that local police will play a pivotal role in his <a href="https://www.benzinga.com/24/02/37412572/trump-outlines-plan-for-mass-deportations-says-local-police-will-be-key-if-reelected-we-have-to-depo">proposed mass deportation of immigrants</a> if he is re-elected. "We have to deport a lot of people, and they have to start immediately," Trump stated. "We have no choice, and the way you do it is your local police."
According to <a href="https://www.statista.com/statistics/667236/cost-of-removing-all-illegal-aliens-from-the-us/">data</a> from Statista, the estimated costs of deporting all illegal aliens in the United States as of 2015 ranged, with the lower estimate totaling $103.9 billion.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40972893/trumps-mars-landing-promise-gets-slammed-by-peter-schiff-even-as-elon-musk-says-spacex-plans-5-launc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Mars Landing Promise Gets Slammed By Peter Schiff Even As Elon Musk Says SpaceX Plans 5 Launches To Red Planet In 2 Years: &#8216;Just Don&#8217;t Want The Government To Do It&#8217;</a></li>
</ul>
Image via Wikimedia Commons
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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Global

Elon Musk Agrees With Jamie Dimon: 'If You Do Not Control The Borders, You Are Going To Destroy Our Country'

JPMorgan (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) intends to grow its corporate banking team across Asia next year to capitalize on increasing business prospects from intra-Asia trades, the innovation economy and payment services. This was stated by Oliver Brinkmann, Asia-Pacific co-head of global corporate banking at the company, in an interview with South China Morning Post.
<h2>Details About JPM&#39;s Strategic Expansion</h2>
Brinkmann said, &quot;We aim to add 10 percent headcount to the corporate banking team across Asia next year.&quot;
The increased headcount will be dispersed across the team&#39;s four divisions: large-cap, mid-cap, innovation economy and subsidiary banking.
In subsidiary banking, the majority of the new talent will be allocated to Southeast Asia and India, while in local corporate banking, additional headcount will be focusing on North Asia, Greater China, Japan, India and Australia, according to Brinkmann.
<h2>JPMorgan&#39;s Rationale Behind This Move</h2>
According to Kerwin Clayton, Asia-Pacific co-head of global corporate banking at JPMorgan, this move aims to enhance the company&#39;s client base by offering a comprehensive set of wholesale banking products and solutions to clients of all magnitudes.
Brinkmann further added, &quot;The velocity of investments has changed. There&#39;s also much more focus on building out a home-based, Asian business for many of the Asian corporates.&quot; Consequently, the bank is investing its resources via broader subsidiary banking and country-specific desks to tap into emerging growth economies such as Korea, Japan, India and China.
The innovation economy has been a key element in JPMorgan&#39;s strategy in the Asia region, which is home to more than 500 unicorns &mdash; start-ups with a valuation of more than $1 billion.
The contribution to the global banking industry by these fast-growing newer firms is meaningful and rising. Thus, establishing relationships with them at an early developmental stage is quite crucial, as per Clayton.
Further, JPM&#39;s corporate banking payment business is another growth driver, which is about to generate $20 billion in revenues globally for the bank, per Brinkmann. &quot;Large corporates in Asia-Pacific hold about US$8 trillion of cash equivalent, and we can offer secure payment ecosystems for global business operations&quot;, he stated.
JPMorgan is using its innovation hub in Singapore to enhance these services. The hub includes a global cybersecurity center and the blockchain platform Onyx to streamline payment processes.
<h2>JPM&#39;s Zacks Rank &amp; Price Performance</h2>
Year to date, shares of JPM have risen 24.3% compared with the industry&#39;s rise of 20.4%.&nbsp;
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/2d/78980.jpg?v=1986766226" />
Image Source: Zacks Investment Research
Currently, JPM carries a Zacks Rank #3 (Hold).
<h2>Restructuring Initiatives by Other Banks</h2>
Earlier this month, Columbia Banking System, Inc.&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/colb#NASDAQ">COLB</a>) subsidiary, Umpqua Bank, announced expansion across the Western region with new branches opening in Phoenix, Scottsdale and Mesa by the end of 2024.
Arizona has several fast-growing sectors, including semiconductors, leisure and hospitality alternative energy, healthcare, warehouse distribution centers and data centers. It also hosts a growing number of data centers, serving as a foundation for the emerging generative AI industry. This positions the region as an ideal location for COLB&#39;s long-term expansion strategy.
Similarly, The Bank of New York Mellon Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bk#NYSE">BK</a>) announced its plans to launch Alts Bridge, an extensive data, software, and services solution. It will cater to rising demand from wealth intermediaries seeking simplified access to alternative and private market investment products via simplified end-to-end investment experience.
This BNY platform has been designed to integrate seamlessly into intermediaries&#39; existing desktops, starting with BNY Pershing X&#39;s Wove advisory platform and NetX360+, incorporating cutting-edge AI and analytics tools to mitigate manual processing and error rates.
It offers a powerful solution to investors, advisors and the home office by providing access to a curated, extensive suite of leading alternative and private asset managers worldwide.
<a href="https://www.zacks.com/stock/news/2340629/jpmorgan-to-increase-headcount-in-corporate-banking-across-asia?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2340629">To read this article on Zacks.com click here.</a>

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COLB

JPMorgan to Increase Headcount in Corporate Banking Across Asia

JPMorgan &amp; Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon is among the finance executives who have vocally opposed the cryptocurrency sector <a href="https://www.benzinga.com/markets/cryptocurrency/23/03/31445667/if-you-invested-1-000-in-bitcoin-when-former-credit-suisse-ceo-called-it-a-bubble-heres-ho">over the years.</a>
While Dimon's stance has changed slightly with JPMorgan now owning Bitcoin through ETFs, his comments about the death of the cryptocurrency sector live on.
What Happened: Dimon likely made some enemies in the cryptocurrency sector with his statements seven years ago.
While speaking at the Barclays Global Financial Services Conference on Sept. 17, 2017, Dimon<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40828224/jpmorgan-ceo-jamie-dimon-said-hed-fire-in-a-second-anyone-caught-trading-bitcoin-when-it-w"> didn't hold back</a> with his criticism of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and the cryptocurrency sector.
Dimon referred to Bitcoin as being "stupid" and &#8220;dangerous&#8221; and went as far to label the leading cryptocurrency as fraud. The JPMorgan executive also said that if he caught any of his company's employees buying or selling Bitcoin, he would "fire them in a second."
"It's against our rules, and they're stupid. And both are dangerous," Dimon said at the time, as <a href="https://www.bloomberg.com/news/articles/2017-09-12/jpmorgan-s-ceo-says-he-d-fire-traders-who-bet-on-fraud-bitcoin?sref=TBDibEcD">reported </a>by Bloomberg.
During his speech, Dimon predicted that Bitcoin would collapse, comparing the rising valuations to the Tulipmania in the Netherlands in the 1600s, when the price of bulbs reached new highs and then collapsed.
"You can't have a business where people can invent a currency out of thin air and think the people buying it are really smart. It's worse than tulip bulbs."
Dimon predicted at the time that it wouldn't end well for investors.
"It will blow up, China's just kicked them out, someone's going to lose money somewhere else – don't ask me to short it, it could be at $20,000 before this happens, but it'll eventually blow up."
Dimon was right about Bitcoin hitting $20,000, but so far has been wrong about the leading cryptocurrency blowing up.
Bitcoin traded as high as $4,344.65 on Sept. 12, 2017, the day of Dimon's comments. An investor could have purchased 0.2302 BTC that day with $1,000.
Fast-forward to today, and the $1,000 investment in what Dimon said was a fraud and something that would become worthless is worth $14,574.14. This represents a hypothetical return of +1,357.41% over the last seven years.
For comparison, the same $1,000 invested in the SPDR S&amp;P 500 ETF Trust (SPY), which tracks the S&amp;P 500 Index, would be worth $2,278.68. This represents a return of +127.9% over the last seven years.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36471920/happy-birthday-bitcoin-15-fun-facts-about-leading-cryptocurrency">15 Fun Facts About Leading Cryptocurrency Bitcoin </a>
Why It's Important: Dimon remained critical of Bitcoin and cryptocurrency for many years, as he also called for the sector to be <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36118823/jp-morgan-ceo-calls-for-a-shut-down-of-bitcoin-and-the-crypto-industry-heres-how-social-me">shut down in 2023.</a>
The JPMorgan executive has recently softened his stance on Bitcoin, as it has been reported that the bank he runs is exposed to Bitcoin via Bitcoin ETFs.  
Many have been wrong to date when it comes to predicting the death of Bitcoin and the cryptocurrency sector.
While there could be a risk with cryptocurrency and investments in the sector, the same could likely be said for the stock market and other sectors.
BTC Price Action: Bitcoin trades at $63,310.79 at the time of writing versus a 52-week trading range of $26,011.47 to $73,750.07.
Check This Out:
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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent092324">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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Image via Flickr/ Fortune Live Media

Education

If You Invested $1,000 In Bitcoin When Jamie Dimon Said He Would Fire Employees 'In A Second' For Holding BTC, Here's How Much You'd Have Today

Online furniture retailer Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>) said on Monday that it is <a href="https://www.benzinga.com/news/24/09/40970727/federal-reserves-bold-rate-cut-retail-sales-rise-and-more-this-week-in-economics">offering $700 million</a> in secured notes to repay some of its debt, joining other companies&#8217; run to the debt markets less than a week after the Federal Reserve cut interest rates for the first time in four years.
The Fed lowered its key interest rate on Wednesday by an unexpected 50 basis points to a range between 4.75% and 5%, setting in motion an expected gradual decrease in rates on bonds, car loans, mortgages and anything else with an interest rate.
Wayfair said the proceeds from the notes, which will mature in 2029, go towards paying back certain convertible senior notes and general corporate purposes.
Read Also: <a href="https://www.benzinga.com/news/24/09/40969943/fed-rate-cut-fuels-market-rally-amidst-valuation-fears">Fed Rate Cut Fuels Market Rally Amidst Valuation Fears</a>
Wayfair is not alone in its dash for debt as 10 high-grade issuers — including TMobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) — are looking to raise money from borrowing in the junk-bond market, a flurry that could result in $20 billion to $25 billion in deals this week, Bloomberg<a href="https://www.bloomberg.com/news/articles/2024-09-23/us-companies-are-ready-to-borrow-billions-following-fed-rate-cut?srnd=homepage-americas&amp;sref=TBDibEcD"> reported</a>.
The average yield in the U.S. investment-grade and high-yield bond markets fell after the Fed rate cut, enticing issuers into the market.
Cigarette-filter maker Cerdia Holdings issued $800 million in debt to refinance notes due 2027 and pay for a shareholder distribution.
Australian coal miner Coronado Global Resources (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CODQL#OTC">CODQL</a>) launched a $400 million offer to redeem its 2026 notes, while U.S.-based telecommunications company Windstream Holdings, Inc. put together a $1.3 billion debt package through the loan and bond markets to refinance loans.
Price Action: Investment banks that underwrite corporate bonds saw gains and losses on Monday.
<ul>
<li>Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) declined 0.7% to close at $64.93</li>
<li>JPMorgan &amp; Chase Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) rose 0.17% to close at $211.44</li>
<li>Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) slipped 0.2% to close at $497.41</li>
</ul>
Read Now:
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<li><a href="https://www.benzinga.com/economics/24/09/40965570/fed-rate-cut-may-drive-investors-away-from-money-markets-says-portfolio-manager">Fed Rate Cut May Drive Investors Away From Money Markets, Says Portfolio Manager</a></li>
</ul>
Photo: Shutterstock

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