WFC/JPM Earnings

[cwelsh]

Just as a note, I know most people avoided JPM and WFC this go around, due to the last few cycles not being that good.

 

Well, as I had very few positions, I did -- and they worked out quite nicely, so we definitely want to at least keep them on the radar in the future if the prices are right:

 

On Thurs Apr 4 I entered the following:

 

JPM 47/47 at 1.86

WFC 37/37 at 1.23

 

Both on the monthly

 

I exited them both today, JPM right after the open, and WFC about an hour before close:

 

JPM @ 2.31  (24.2% before commissions)

WFC @ 1.32 (7.3% before commissions)

 

I considered holding WFC longer, but the change was almost entirely do to a gamma move, and I did not want to risk a pull back.  JPM had a move and an IV spike.

 

Hope others got in on either or both of these. 

 

As always, do your own evaluations.