Bank of America Corporation New (BAC) $7.93 +0.76%
Bank of America (BAC) adds 6 cents to $7.93 and a Dec 7 – Oct 8 bullish risk-reversal trades on the stock for 9 cents, 10000X on PHLX. The combo has traded 18200X this afternoon and appears to reflect expectations that BofA will be trading higher through the October expiration. Aug 8 calls are the most actives in 41,705 and are just 7 cents out-of-the-money heading into expiration Friday. 41,700 traded (against 224K in open interest) at a VWAP of 3.06 cents.
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.
