Author is buying more JPMorgan call options ahead of earnings because they see the calls as cheap.
Unpriced research observations (excluded from Calls and Returns):
JPM — LONG The author argues JPM call options are unusually cheap ahead of the upcoming earnings release and is adding to the position. The catalyst is the earnings event, implying a bullish directional view on JPMorgan shares. The call position is a directional bet on JPM shares; returns would track the underlying stock rather than a premium-income strategy. ambiguous_option_contract
JPM calls are awfully cheap ahead of earnings…. Buying more