Bank Stock Rattled by Earnings Miss

RF is falling further from its 14-year high

Deputy Editor
Jan 20, 2022 at 10:45 AM
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Bank giants like Goldman Sachs (GS) and Morgan Stanley (MS) get all the high-profile headlines, but there are other financial names worth watching this earnings season. The shares of Regions Financial Corp (NYSE:RF) are down 5.2% to trade at $22.42 at last check, after the company's fourth-quarter earnings miss. Regionals Financial reported profits of 43 cents per share, which is below the expected 49 cents, and revenue roughly in line with expectations. 

Today's drop has RF on track for its second day of losses, a sharp contrast from its14-year high of $25.53 scored on Jan. 18. The shares' 120-day moving average appears to be keeping the pullback in check, however. Since the start of the month, the equity is up 2.8% and boasts a 23.7% year-over-year lead. 

So far in the options pits today, 2,479 calls and 2,386 puts have crossed the tape, volume that's running at eight times what's typically seen at this point. The January 24 put is the most popular, followed by the January 23 call, with both contracts expiring tomorrow. 

The good news for options traders is that the security's Schaeffer's Volatility Scorecard (SVS) sits at a 91 out of 100. This means RF has exceeded option traders' volatility expectations during the past year.




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