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Option Update: Fifth Third Bancorp volatility up into capital raise

Posted Jun 18th 2008 8:29AM by Paul FosterPaul Foster RSS Feed
Filed under: Options

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Fifth Third Bancorp (NASDAQ: FTIB) is recently trading down $1.73 to $11 in pre-open trading.

FITB announced the planned issuance of $1 billion in tier 1 capital in the form of convertible preferred shares. FITB declared a Q2 dividend of 15 cents, a reduction from the previous 44 cents per share quarterly level. FITB says the anticipated sales of non-core business would supplement common equity by an estimated additional $1 billion.

FITB overall option implied volatility of 86 is above its 26-week average of 47 according to Track Data, suggesting larger price movement.

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

Tags: Fifth Third Bancorp, FifthThirdBancorp, ftib, inthenews, option implied volatility, OptionImpliedVolatility

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Last updated: November 26, 2009: 09:45 AM

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