JPM Rallies off of $105 Support
As we noted in a recent post the $105 level was huge and one could have taken advantage of a short term $107/$112 call spread for a pretty decent plus 2x risk/reward profile. Anyhow, JPM is continuing the rally led by the Q3 results which unsurprisingly showed a decent $1.8B yoy gain in Net Interest Income. We expect this risk free arb money to continue and is a simple construct of the interest credit spreads at the banking level:
