BBVA Privanza International Ltd (BBVA) $10.71 +1.61%
BBVA adds 14 cents to $10.68 and Jan $11 calls are seeing early interest. 2,560 now traded (81 percent ask). Shares of the Spanish bank are seeing a modest bounce after a 23.7 percent decline since 10/20. The call buying might be a play on a rebound through Jan 2011 and reflect diminishing concerns about the spreading European Debt Crisis. Implied volatility in BBVA is flat at 55 this morning, but up about 21 percent since 11/18. The bank was the subject of bullish order flow Monday as well (see 11/22 color).
Category: All Stocks, Banks, Large Cap Stocks
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About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
