The stock—which has climbed 8.8 percent this year—has outperformed peers such as Goldman Sachs, Citigroup, Bank of America and Morgan Stanley in that period. JPMorgan is slated to "perform very well" after earnings, said trader Pete Najarian.
Trader Karen Finerman—who is long in the stock—sees more upside in it, while trader Steve Grasso added that it could make a strong play in the sector. Traders noted that JPMorgan may not be the only financial name worth buying.
"Morgan Stanley and Goldman Sachs both set up very, very nicely into earnings," Najarian noted.
Grasso said that Goldman—which has climbed more than 8 percent this year—makes a good play in the financial space. Finerman also noted that she has her most money in the financial sector in Citigroup.
Long AMAT, AAPL, BAC, BMY, BP, CSX, DISCA, DKS, FOXA, GE, KKR, KO, LLY, MRK, PEP and PFE. He is long calls AAPL, ABX, BAC, BBY, C, CRM, CY, DAL, ETFC, FCAU, INVN, JPM, LULU, LVS, NUAN, OC, ORCL, PNR, S, SYY, UAL, USB, VOYA, VZ, WYNN, XLF and ZIOP. Today he sold some WYNN and LVS calls.
Steve Grasso is long AAPL, BA, BAC, DD, DECK, EVGN, FIT, KBH, MJNA, PFE, PHM, T, TWTR and GDX. His firm is long OXY, NE, RIG, FCX, WYNN and AMZN. His kids own EFG, EFA, EWJ, IJR and SPY.
Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M, URI, BABA puts and URI calls. She is short SPY. Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GILD, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, MYL, SUNE, URI, XBI, KORS call spreads, URI calls, KORS puts and SPY put spreads. Her firm is short IWM, SPY and MDY. Karen Finerman is on the board of GrafTech International.
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.