Wednesday, January 4, 2012

"Bulls and Bears Fight Over Bank of America Option Trades" (BAC)

The formerly biggest bank (Wells Fargo passed them and JPM in market cap) closed up a penny at $5.81.

From the WSJ's Deal Journal:
Today’s biggest options trades are all about Bank of America as traders target huge bets in the bank.
More than 200,000 April $7 calls are bought to open and tied to stock, says’s analyst Frederic Ruffy.

BofA’s stock price is 0.7% higher on the day to $5.84. Daily volume is three times the average, Trade Alert data show....MORE
Here are the market cap ranks via Bespoke's "Wells Fargo the New King of the Street":