Novice Trade: JPM

JPMorgan Chase & Co (JPM) had nice earnings today. With the stock down a touch on the call and the market's penchant to keep moving higher, I think JPM gets bought off of these earnings.

In addition, implied volatility is pretty cheap in JPM. For the past couple of years, its premiums have only been cheaper in July of this year. I love owning calls in this name. I can buy the Oct27 96.5 calls with two weeks to expire for less than $1.00. That's super cheap, at about 1% of the cost of the stock for a two and a half week borrow. Not bad....10 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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