JPMorgan Chase (JPM) Options Signal Bullish Momentum: Calls at $320–$360 Highlight Upside Potential Amid Strategic Shifts

JPMorgan Chase (JPM) is trading at $314.14, down 0.29% from its open, but the options market and technicals tell a different story.

• Options data shows a 1.016 put/call open interest ratio, with heavy call buying at $320–$360 strikes.
• Technical indicators (bullish Kline pattern, RSI at 63.3, and MACD above signal line) confirm short-term strength.
• News of Todd Combs joining JPM’s Strategic Investment Group adds long-term catalysts for growth.

Here’s the takeaway: The stock is perched at a key inflection point. Options positioning and technicals suggest a high probability of a breakout above $316.47 (intraday high), with the $320–$325 range acting as a critical battleground for bulls.Bullish Sentiment Locked in OTM Calls, Puts Hedge at Lower Levels

The options chain tells a clear story. For this Friday’s expiration (Dec 12), JPM20251212C320 and JPM20251212C330 have 2,969 and 2,012 open interest respectively—showing heavy conviction in a $320+ move. Next Friday’s (Dec 19) JPM20251219C360 (7,322 OI) and JPM20251219C340 (6,479 OI) amplify this, with traders betting on a sharp rally.

But it’s not all one-sided optimism. Puts at $300–$310 (OI: 1,101–1,684) hint at hedging activity, likely from institutional players protecting against a pullback to the 200D MA at $279.46. The lack of block trades means no major institutional bets to skew the narrative—this is retail and options-savvy capital driving the action.

News Flow: Strategic Moves Align With Bullish Options Setup

Todd Combs’ appointment as head of JPM’s $10B Strategic Investment Group is a game-changer. This isn’t just a name change—it’s a signal that JPM is doubling down on defense, energy, and healthcare sectors, which are already seeing strong policy tailwinds. Jamie Dimon’s recent defense of the bank’s legal practices also removes a near-term overhang, letting investors focus on growth.

Think of it like this: Combs is the “Warren Buffett of JPM,” and his track record at Berkshire means the SRI could become a profit engine. This aligns with the call-heavy options data—investors are pricing in a 2026 re-rating as the SRI gains traction.

Actionable Trade Ideas: Calls for Short-Term Gains, Stock Play at Key Levels

For options traders, JPM20251212C320 (Dec 12 expiry) is a high-conviction play. If JPM breaks above $316.47 today, this strike could see explosive gains. For a longer-term bet, JPM20251219C320 and JPM20251219C360 offer leverage if the stock holds above $313.58 (intraday low).

Stock buyers should consider entry near $309.20–$309.65 (30D support) if the price retests this zone. A close above $316.47 would validate the bullish case, with $320 as the first target and $325–$330 as a stretch goal. Stop-loss levels? Watch the $308.07 middle Bollinger Band—break below that, and the trend weakens.

Volatility on the Horizon: Position for a Breakout or Breakdown

The next 48 hours will be critical. If JPM holds above $313.58 and volume stays above 3 million shares, the $320–$325 range becomes a realistic target. But if the stock dips below $308.07, the 200D MA at $279.46 could become a death spiral for bulls.

This is a stock at a crossroads. The options market is pricing in a breakout, the technicals are aligned, and the news flow is bullish. For traders, the question isn’t if to act—it’s how to position for the next leg higher.