JP Morgan Chase & Co. (NYSE: JPM) The TLT tout in today’s list mentions that the Bank Index (BKX) has gotten within an inch of a target that took eight months to reach. Accordingly, I’ll suggest buying puts in this vehicle if and when it gets within 0.15 of the 63.15 target shown. Specifically, you should try to buy four Oct 18 62 puts with a bid that is midway between the bid/offer at that time. My rough guess is that they will be trading for under 0.80, but the price would fall if it takes more than a few days to get there. ______ UPDATE (September 29, 1:52 a.m. EDT): We’ll back away for now, since JPM fell sharply after getting no higher last week than 61.64.
