$JPM Long-term Ascending Triangle - Unusual Call Activity

JPM forming what appears to be a long-term bullish ascending triangle with resistance just below $120. We saw some huge call volume today ($50M+) in Jan'19 deep-in-the-money contracts ($40/$65/$70 strikes).

Earnings due out late next week - monitor for an eventual break through ~$119.50 resistance level.

Medium term target - $130
Long term target - $147


Note: Informational analysis, not investment advice.