Started a large put position in $JPM, @Chase targeting $200s. Technically, the stock's MACD indicates that the downward velocity is accelerating. Fundamentally, JPM signaled projected expenses of $105 billion... significantly higher than the $102–$103 billion analysts had modeled. Recent SEC filings also show that C-suite insiders are selling, including the CFO + General Counsel, have sold 5% to 10% of all holdings in early 2026. Finally, real estate credit risk in the sunbelt, risk of credit limits due to Trump's 10% card max and reputational concerns due to debanking will all continue to weigh on the stock. Full credit to my friends @krillian & @Tom__Capital who identified the equity weakness & helped correlate the FA