Bank of America announced better-than-expected fourth-quarter results
Bank of America Corp (NYSE:BAC) is one of the latest bank giants to report quarterly results this week. The company announced better-than-expected fourth-quarter earnings and revenue, with profits of $6.67 billion, or 82 cents per share, more than doubling from the same quarter a year ago. Investors are cheering the firm's upbeat 2025 guidance as well.
Nevertheless, BAC was last seen down 0.8% to trade at $46.74, paring earlier gains. The stock jumped 2.9% yesterday for its largest single-session gain since November amid the broader-market rally. Since the start of the month, the equity is up 6.6%, with a solid 47.3% year-over-year lead.
Options bulls are chiming in on the news. So far, BAC has seen 82,000 calls exchanged -- double the amount typically seen at this point -- compared to 35,000 puts. The January 47.50 call is the most popular, with new positions opening at the 48 call in the same monthly series.
Calls have been more popular than usual leading up to today, too. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), BAC's 10-day call/put volume ratio of 1.89 ranks higher than 86% of readings from the past year.