Options Bulls Blast 3 Bank Stocks After Earnings

JPM and WFC are trading near record highs

Fernanda Horner

Digital Content Manager

Jan 15, 2025 at 3:45 PM

Earnings season is off to a strong start. JPMorgan Chase & Co (NYSE:JPM), Wells Fargo & Co (NYSE:WFC), and Citigroup Inc (NYSE:C) announced fourth-quarter profit and revenue wins before today's open, setting the options pits abuzz. Below, let's take a look at how these banking giants are responding to the upbeat results.

JPM is up 2.2% to trade at $252.95 at last glance, on track for its third consecutive daily win. The security already boasts a 50.3% year-over-year lead and earlier hit its highest level since its Nov. 25 record high of $254.31, after a bounce off its 60-day moving average.

WFC was last seen up 7.4% at $76.44, pacing for its biggest single-day percentage gain since Nov. 6. The shares are also trading within a chip shot of their Nov. 26 all-time peak of $78.13 on their way to their third consecutive gain, and added 62.7% over the past 12 months.

C added 35.7% in the last nine months alone, and is up 7.5% to trade at $78.96 at last check. Also eyeing its best day since Nov. 6, the equity earlier hit its highest level since June 2021.

All three rank among the top 10 stocks seeing the most unusual options activity today, and are attracting four times the amount of calls typically traded at this point. For JPM, the most active contract is the January 250 call -- where positions are being opened -- and for C it's the 80 call for that series. Meanwhile, the April 82.50 call is WFC's most popular contract.

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