JPMorgan Sells an Exotic Quant Trade Chasing Stock-Market Whales

  • Strategy bets on momentum and seasonal patterns in the S&P 500
  • Complex trade is more typically followed by big institutions
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JPMorgan Chase & Co. is tapping into retail demand for trend-following by giving rich investors access to a kind of complex stock strategy that’s usually reserved for institutional managers.

The New York-based bank has issued $15 million of structured notes that give investors a way to surf S&P 500 trading patterns caused by market whales including options dealers and pension funds.