JPM and C 2025Q2 Earnings

JPMorgan and Citi have some bold expectations

For the past several quarters, bank earnings have beaten expectations. Let’s see what we got for this quarter.

As a side note, these are Tuesday earnings… four days from expiration of their nearest tenor. If doing a short gamma trade, your R/R does not favor you, especially with the inflation catalysts this week. This note will take that into account and probably have wider than normal moves for short gamma positions.