Most Active Weekly Options: Bank of America Corp (BAC)

Bank of America Corp option bulls bet on an extended rally

Oct 22, 2014 at 10:49 AM
facebook X logo linkedin


The 20 stocks listed in the table below are the S&P 500 Index (SPX) components that have attracted the highest weekly options volume during the past 10 trading days. Names highlighted are new to the list since the last time the study was run, and data is courtesy of Schaeffer's Senior Quantitative Analyst Rocky White. One name of notable interest today is Bank of America Corp (NYSE:BAC), where option traders are eyeing a strong finish to the week.

Most Active Weekly Options Table

Since taking an earnings-induced stumble last week, shares of Bank of America Corp have bounced back nearly 8%. The stock is continuing this momentum today, up 0.2% to $16.64. However, this is not enough to satiate this morning's option bulls, who are eyeing more upside for the financial firm through week's end.

Taking a quick step back, calls are outpacing puts by a nearly 2-to-1 margin thus far, and based on BAC's 30-day at-the-money implied volatility (IV) -- which is up 1.6% at 20.1% -- short-term contracts are in high demand. Most active on the call side is the equity's weekly 10/24 17 strike, where 13,855 contracts have traded. Almost all of these calls have gone off at the ask price, and IV is higher, two indications of buy-to-open activity. This theory is echoed by Trade-Alert.

Amid today's positive price action, delta on the call has risen to 0.15 from 0.10, suggesting an increased probability the option will be in the money at this Friday's close, when the weekly series expires. Should Bank of America Corp (NYSE:BAC) fail to topple $17 by week's end, though, the most the call buyers stand to lose is the initial premium paid.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI