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Option update 10-26-07: Bank of America (BAC) volatility at 5-year highs

Posted Oct 26th 2007 7:52AM by Paul FosterPaul Foster RSS Feed
Filed under: Before the bell, Management, Bank of America (BAC), Countrywide Financial (CFC), Options, S and P 500

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Bank of America (NYSE: BAC) volatility at five-year highs. BAC purchased $2 billion of preferred stock from CFC on 8/22/07. The securities could be converted into Countrywide Financial (NYSE: CFC) stock at $18 per share. CFC closed at $13.07. BAC November option implied volatility of 29 is above its 26-week average of 22 according to Track Data, suggesting larger risk.

Amex Financial Select Sector (AMEX: XLF) implied volatility at 28; 26-week average is 23.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Tags: Amex Financial Select Sector, AmexFinancialSelectSector, BAC, Bank of America, BankOfAmerica, global banking Mortgage, GlobalBankingMortgage, investments money management, InvestmentsMoneyManagement, Ken Lewis Mozilo Money center, KenLewisMoziloMoneyCenter, option implied volatility, OptionImpliedVolatility, XLF

Symbol Lookup
IndexesChangePrice
DJIA+30.6910,464.40
NASDAQ+6.872,176.05
S&P 500+4.981,110.63

Last updated: November 26, 2009: 09:56 PM

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