Put Options Increase: Bank of America Into 52-Week Lows (BAC)
Posted in Options by: adminBank of America (NYSE: BAC) has been one of the under pressure banking stocks on its own accord of late. But today we have seen many options trades go off in the Put options. This may be nothing more than a roll-out as last Friday was expiration date, and it could just be traders making hedges to positions. Here are some of the more active contracts in near-months trading:
CONTRACT STRIKE Vol. OpInt.
AUG08 $20.00 PUTS 4,497 12,625
AUG08 $22.50 PUTS 14,967 37,936
AUG08 $25.00 PUTS 13,737 37,589
JUL08 $20.00 PUTS 12,468 13,422
JUL08 $25.00 PUTS 6,445 9,401
As of 12:43 PM EST, Bank of America shares themselves are down almost 3% at $26.30 on over 33.5 million shares. Its average daily volume is 44.6 million shares and the 52-week trading range “WAS” $26.95 to $52.96 today.
Jon Ogg
June 23, 2008
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Do you think k.lewis is going to step down and or the dividend is going to get cut? Bank shares are down so much this is ridiculous. Some rich investors, private equity should come in to bail them out. I think our government is turning there back on this and its a shame. Our federal government doesn’t care anymore. the banks NEED to be bailed out. they need funds and dollars. the subprime mess & mortgage mess is like the roulette wheel, risky, risky, risky.
on June 23rd, 2008 at 3:16 PJun