BofA (BAC) is up 16 cents to $12.48 and a noteworthy spread in recent trade is a Jan 2012 17.5 – 25 call spread, apparently bought at 48.5 cents, 10000X on PHLX. It was tied to shares at $12.40 and might be a closing trade or a roll down in strikes. If opening, its an ambitious play as the breakeven (at the Jan 2012 expiration) is around $18, or more than 44 percent above current levels.