The banking giant reports third-quarter earnings and revenue that beat estimates
JPMorgan Chase & Co (NYSE:JPM) took to the earnings confessional this morning, where it reported third-quarter earnings per shares of $4.37 on revenue of $43.32 billion, both of which beat Wall Street's expectations. Helping the banking giant's results was higher-than-expected interest income, as well as consistent record net income numbers since the Federal Reserve began its rate-hiking campaign in 2022.
In response to the report, JPM was last seen 4% higher at $221.41. This bull gape puts the security within striking distance of its Aug. 30 all-time high of $225.48. Today's pop would put the shares on track for just their second win of the week, but they're still pacing for their second consecutive week of gains. Year to date, JPMorgan Chase stock is up 29%, and it's extended its year-over-year lead to nearly 51%.
Drilling down today's options activity, 65,000 calls and 40,000 have already been traded following the event. Overall, today's options volume is running at 5 times the average intraday amount, and new positions are being opened at the most active weekly 10/11 225-strike call.