BofA (BAC) is seeing heavy post-earnings trading activity. The stock is up 14 cents to $9.06 on volume of 129 million shares. 321,000 options traded on the bank, including 259,000 calls and 62,000 puts. Today’s most actively traded contract is the April 9 call on BAC, which is 6 cents in-the-money heading into the expiration. 110,748 contracts. Today’s 15 most active contracts are options on either BAC, SPY, AAPL, or SPX. Total volume in those four tickers is approaching 1.2 million, which accounts for roughly 25 percent of today’s overall options activity — of 4.7 million contracts traded so far acorss the nine exchanges. Meanwhile, implied volatility in BAC has eased 10.5 percent to 41, but remains well above this year’s low of 35 (from 3/7) and the 52-week low of 23 (on 4/29).
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.