Bank of America (NYSE: BAC) closed at $16.66. BAC option volume was 1.3M contracts on August 5. September option implied volatility is at 54, November is at 53; below its 26-week average of 93, according to Track Data, suggesting decreasing movement.
Citigroup (NYSE: C) closed at $3.58. BAC option volume was approximately 1.7M according to The Options Clearing Corp. C over all option implied volatility of 72 is below its 26-week average of 99, according to Track Data, suggesting decreasing price risk.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
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