Markets
BAC

Call buyers look for Bank of America to rise

Long-dated calls on Bank of America ( BAC ) are what our screener landed on today. So far, 3,787 contracts of the Dec. 38 call have changed hands, against open interest of 81 contracts. Today's trades have all been priced high in the spread, indicating that these new calls were initiated from the buy side.

InvestorsKeyhole Trade Alert

IK-> The technicals for BAC ($31.05 up $0.50) are bullish with an upward trend. The stock has support around 30.55. Look at the July 27/29 bull-put spread for a 21-cent credit. That's an 11.7% return and the stock has to fall by 6.6% to cause a problem. [InvestorsKeyhole, various news and data services]

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Originally published on InvestorsObserver.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

BAC

Other Topics

Options