JPMorgan Chase & Co., \u00e7eyreklik hisse ba\u015f\u0131na k\u00e2r\u0131n\u0131 (EPS: \u015firketin k\u00e2r\u0131n\u0131n hisse say\u0131s\u0131na b\u00f6l\u00fcnmesi) 5,94 dolar olarak a\u00e7\u0131klad\u0131. Bu rakam, piyasa beklentisi olan 5,49 dolar\u0131n \u00fczerinde geldi. Ge\u00e7en y\u0131l ayn\u0131 d\u00f6nemde EPS 5,07 dolard\u0131; sonu\u00e7lar tek seferlik (tekrarlanmayan) kalemlerden ar\u0131nd\u0131r\u0131larak hesapland\u0131.<\/p>\n
Bu \u201ck\u00e2r s\u00fcrprizi\u201d (a\u00e7\u0131klanan k\u00e2r\u0131n beklentiyi a\u015fma oran\u0131) %8,27 oldu. Bir \u00f6nceki \u00e7eyrekte \u015firket EPS\u2019yi 5,23 dolar a\u00e7\u0131klam\u0131\u015f, beklenti 4,92 dolar seviyesindeydi; s\u00fcrpriz %6,3\u2019t\u00fc.<\/p>\n
Son d\u00f6rt \u00e7eyre\u011fin tamam\u0131nda \u015firket, piyasan\u0131n EPS beklentisini a\u015ft\u0131. Mart 2026\u2019da sona eren d\u00f6nem i\u00e7in \u00e7eyreklik gelir 49,84 milyar dolar oldu; bu da beklentinin %2,62 \u00fczerinde. Ge\u00e7en y\u0131l ayn\u0131 d\u00f6nemde gelir 45,31 milyar dolard\u0131. \u015eirket son d\u00f6rt \u00e7eyre\u011fin tamam\u0131nda gelir beklentisini de a\u015ft\u0131.<\/p>\n
Hisse, y\u0131lba\u015f\u0131ndan bu yana yakla\u015f\u0131k %2,7 gerilerken S&P 500 endeksi %0,6 y\u00fckseldi. Mevcut piyasa beklentisi, gelecek \u00e7eyrek i\u00e7in 47,48 milyar dolar gelir \u00fczerinde 5,35 dolar EPS.<\/p>\n
Cari mali y\u0131l i\u00e7in beklenti, 193,28 milyar dolar gelir \u00fczerinde 21,79 dolar EPS. Hisse, Zacks s\u0131ralamas\u0131nda #3 (Tut) notuna sahip.<\/p>\n
Finansal – Yat\u0131r\u0131m Bankas\u0131 sekt\u00f6r\u00fc, 250\u2019den fazla Zacks sekt\u00f6r\u00fc i\u00e7inde alt %29\u2019luk dilimde yer al\u0131yor. Robinhood Markets, Inc.\u2019in 28 Nisan\u2019da sonu\u00e7 a\u00e7\u0131klamas\u0131 bekleniyor; beklenti EPS 0,46 dolar (y\u0131ll\u0131k %24,3 art\u0131\u015f) ve gelir 1,23 milyar dolar (y\u0131ll\u0131k %33,2 art\u0131\u015f). JPMorgan Chase g\u00fc\u00e7l\u00fc bir k\u00e2r beklentisi a\u015f\u0131m\u0131 a\u00e7\u0131klad\u0131; ancak hisse bu y\u0131l genel piyasaya g\u00f6re daha zay\u0131f performans g\u00f6steriyor. Bu da olumlu sonu\u00e7lar\u0131n b\u00fcy\u00fck \u00f6l\u00e7\u00fcde \u00f6nceden fiyatlanm\u0131\u015f olabilece\u011fine ve k\u0131sa vadede ek y\u00fckseli\u015f ivmesi yaratmayabilece\u011fine i\u015faret ediyor. Piyasan\u0131n s\u0131n\u0131rl\u0131 tepkisi, \u201chaberi sat\u201d (iyi haber geldikten sonra k\u00e2r sat\u0131\u015f\u0131 yap\u0131lmas\u0131) e\u011filiminin g\u00fc\u00e7lenebilece\u011fini d\u00fc\u015f\u00fcnd\u00fcr\u00fcyor.<\/p>\n
T\u00fcrev \u00fcr\u00fcnler (ba\u015fka bir varl\u0131\u011f\u0131n fiyat\u0131na ba\u011fl\u0131 s\u00f6zle\u015fmeler) taraf\u0131nda, bilan\u00e7o etkisi geride kald\u0131. Bu nedenle JPM opsiyonlar\u0131nda ima edilen oynakl\u0131k (piyasan\u0131n bekledi\u011fi fiyat dalgalanmas\u0131), a\u00e7\u0131klama \u00f6ncesi %32 zirvesinden %24\u2019e geriledi. Bu \u201coynakl\u0131k d\u00fc\u015f\u00fc\u015f\u00fc\u201d ortam\u0131nda, eldeki uzun pozisyonlara kar\u015f\u0131 teminatl\u0131 al\u0131m opsiyonu satmak (covered call: hisseyi elinde tutarken al\u0131m opsiyonu sat\u0131p prim toplamak) veya demir kondor gibi n\u00f6tr stratejiler kurmak (iron condor: fiyat\u0131n dar bantta kalmas\u0131na oynayan opsiyon kombinasyonu) prim geliri toplamak i\u00e7in daha uygun g\u00f6r\u00fclebilir. Bu yakla\u015f\u0131m, hissenin yatay bantta (dar aral\u0131kta) kalmas\u0131 halinde avantaj sa\u011flar; mevcut kar\u0131\u015f\u0131k sinyaller bunu olas\u0131 k\u0131l\u0131yor.<\/p>\n
Genel finans sekt\u00f6r\u00fc baz\u0131 bask\u0131larla kar\u015f\u0131 kar\u015f\u0131ya. Bu durum, tekil g\u00fc\u00e7l\u00fc bilan\u00e7olara ra\u011fmen temkinli piyasa duru\u015funu a\u00e7\u0131kl\u0131yor. ABD Merkez Bankas\u0131 (Fed) son alt\u0131 ayd\u0131r politika faizini %5,75\u2019te sabit tutarken, sekt\u00f6rde net faiz marjlar\u0131 (bankan\u0131n kredi faiz gelirleri ile mevduat\/finansman faiz giderleri aras\u0131ndaki fark\u0131n k\u00e2rl\u0131l\u0131\u011fa oran\u0131) daralmaya ba\u015flad\u0131. Ticari gayrimenkul riskleri de art\u0131yor: 2025\u2019in son \u00e7eyre\u011finde ofis kredilerinde gecikmeye d\u00fc\u015fen alacak oran\u0131 %6,8\u2019e y\u00fckseldi; bu seviye 10 y\u0131l\u0131 a\u015fk\u0131n s\u00fcrenin en y\u00fckse\u011fi.<\/p>\n
Bu tablo, 2023 ortas\u0131nda s\u0131k g\u00f6r\u00fclen duruma benziyor: G\u00fc\u00e7l\u00fc banka k\u00e2rlar\u0131, ileriye d\u00f6n\u00fck y\u00f6nlendirme (\u015firket y\u00f6netiminin gelecek d\u00f6nem beklentileri) ve makroekonomik endi\u015feler nedeniyle geri planda kalabiliyordu. Piyasa, ge\u00e7en \u00e7eyre\u011fin g\u00fc\u00e7l\u00fc sonu\u00e7lar\u0131ndan \u00e7ok gelecekteki zorluklara odaklan\u0131yor. Bu nedenle JPM hisselerindeki olas\u0131 y\u00fckseli\u015fleri, koruyucu sat\u0131m opsiyonu almak (protective put: hissedeki d\u00fc\u015f\u00fc\u015fe kar\u015f\u0131 sigorta) veya d\u00fc\u015f\u00fc\u015f y\u00f6nl\u00fc sat\u0131m spread\u2019i kurmak (bearish put spread: maliyeti azaltmak i\u00e7in iki sat\u0131m opsiyonunu birlikte kullanma) i\u00e7in f\u0131rsat olarak de\u011ferlendirmek g\u00fcndeme gelebilir.<\/p>\n","protected":false},"excerpt":{"rendered":"
JPMorgan\u2019dan bilan\u00e7o \u015fovu: EPS 5,94 $ ile beklentiyi %8 a\u015ft\u0131, gelir 49,84 mlr $. Ancak hisse YTD geride; oynakl\u0131k %32\u2019den %24\u2019e indi. \u201cHaberi sat\u201d ve opsiyon stratejileri \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-44586","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/44586","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=44586"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/44586\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=44586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=44586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=44586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}