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Barchart

Mark R. Hake, CFA

Unusual LEAP Call Options in Bank of America Expiring in Over 2 Years - Is BAC Stock Too Cheap?

BAC Bank of America Leaps Barchart Interest Rates Seeking Alpha

A Barchart report today shows that an institutional investor bought a large volume of Bank of America (BAC) call options expiring in more than 27 months. This suggests strong bullish sentiment in BAC stock, likely driven by rising interest rates. (These calls are commonly known as LEAPs (long-term anticipation securities).

BAC is at $50.09 in midday trading today, down over 7% today after it released Q3 earnings before the market opened. This is well off its recent peak of $64.81 on Aug. 12.

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