Pre-ER Alert on JPM
One inch put...
I plan on entering JPM Jul15 delta 30 calls near close on Friday. ER is on Jul14 and I expect IV to begin rising next week. The current chart is a bit messy, but if the bottom is in, we can expect price action to attempt a bounce to between the 38.2 and 61.8% Fib retracement. This is an all-in trade with $250 or less position size. I would sell 1/2 on a double and take the balance to just before ER if possible.
Edit: The following option was entered EOD on Friday.