Synovus (SNV)

[Gratefullife]

Exposure to a bank play for the year, I like SNV...when i saw the massive open interest on the Jan 2014/2015 3 and 4 dollar calls, i figure this one for a TARP turnaround winner, and a relatively cheap way to play it. Some major players betting bullish on this one.

Not much downside with book value around 2.92, and bumping up now against near-term resistance. IMO When this breaks out on the TARP repay, those 35-40 cent calls will be an easy 2-3 bagger. Market corrects, they go back to 25-35c., but bounce back fast...