Mohacsy's Safe Portfolio Member Forum

[dexprs]

Aggressive call buying in Bank of America as shares spike (TheFlyOnTheWall)
THE FLY 12:50 PM ET 11/15/2017
Symbol Last Price Change
BAC 26.74up +0.5 (+1.91%)
QUOTES AS OF 02:04:52 PM ET 11/15/2017
Aggressive call buying in Bank of America(BAC) as shares spike. With the stock at $26.20 Wednesday morning, 115K Jan 28 calls traded in several slices for 43c on ISE and was opening buying for a customer account, according to ISEE data. The options were tied to stock at $26.17 and shares have since rallied 2.2% to $26.76, resulting in an unrealized profit of almost $2M on the calls, which now fetch 60c. More recent trades include a buyer of 100K Dec 28 calls for 23c. 118K trade total against 106K open interest. Total volume is 454K calls and 83K puts. Bullish flow in BAC (notable call buyers in XLF past two days as well) comes despite notable flattening of the yield curve in recent days and is likely a play on expectations that Dodd Frank regulations will soon be rolled back.