Receiving words of Jin's sighting in the distance, John's first thought was to immediately send everyone and attack him. The reason was obvious...considering Jin's personality and strength, the most obvious candidate for being the code holder would obviously be him.
With his strength and agility, he could just outrun everyone. However, after a bit of thinking, John refrained from doing so. This could very well be a smokescreen.
Although that was the most obvious course of action, Jin wasn't stupid. He could very well be trying to act as bait.
Biting his nails out of habit, John thought to himself
'...Is Jin really the one holding onto the code?'
That was the most logical conclusion John could think of. After all, Jin was famous for being proud and arrogant. He being the code holder was a very real possibility.