Novice Trade: JPMorgan Chase

Upon JPMorgan Chase (JPM) knocking its sandbag expectations out of the park, the entire financial complex has moved higher --most notably JPM. The stock is making a run at a 52-week high, although it's not there yet. At the same time, the stock's options have been absolutely murdered in terms of their cost. Calls in JPM are simply too cheap.

As I believe JPM is going to $65, I would move to buy upside calls. I like the May 62.5s for about $1.50. I think I have a decent shot to sell these at $2.50-$3.00 if JPM moves higher. If the stock drops, the IV moving higher should help these hold up....46 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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