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Option Update: Bank of America volatility up; purchase of CFC on July 1

Posted Jun 20th 2008 9:33AM by Paul FosterPaul Foster RSS Feed
Filed under: Bank of America (BAC), Countrywide Financial (CFC), Options

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Bank of America (NYSE: BAC) closed at $28.14 Thursday.

BAC aims to complete its planned acquisition of Countrywide Financial (NYSE: CFC) on July 1. BAC announced in January of 2008 the planned acquisition of CFC for 0.1822 per share of BAC for each share they own, $5.13 based on BAC closing share price of $28.14. CFC closed at $4.83.

BAC July option implied volatility of 51 is above its 26-week average of 40 according to Track Data, suggesting larger price fluctuations.

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

Tags: bac, bank of america, BankOfAmerica, cfc, inthenews

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Last updated: November 12, 2009: 03:12 PM

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