On October 13, the eve of JPM’s Earnings Announcement, Admiral found a great trade opportunity: Buy a 1x4 67.50/70 Call BackSpread. Maury followed the Admiral without hesitation.
Before the market opened, JPM’s earnings beat the estimates and revenue. However, the price action was fairly muted for the balance of October.
Maury had the jitters, along with the market, due to the upcoming general elections. He was not used to waiting to get paid on a trade, but Admiral already had that[...]