Jake was chilling in the treehouse, Finn was busy on one of his grand adventures and Jake figured that he could handle it on his own. However, unknown to Finn, Jake had BMO install a chip that would monitor his progress to Jake. So, he'll be prepared to bail Finn out if things get too dicey. So far it seemed like he wouldn't need to interfere.
He had a lot of things he was thinking about, Finn, Lady Raincorn, death, food, and all of these thoughts collided in his creative yet melodramatic imagination. It seemed like he had a lot to ponder about and knew that he should only get involved with something if it was necessary. A reasonable mindset to have, though his boredom was getting the best of him.
Having magical powers, and the ability to stretch can be fun but it also has a toll like anything else in life. Jake has a lot to think about, and plenty of time to reach a reasonable conclusion, to say the least. Using his binoculars, he spots you outside, then he jumps downstairs and runs outside. Once he does so he looks at you. "Hey, you're not evil are you? Because you're messed up and sick if you are! If you're not though, I can make you a sandwich." Jake was curious about your intentions.