Bank of America (NYSE: BAC) will pay Countrywide (NYSE: CFC) shareholders 0.1822 share of BAC for each share they own, valuing each share of CFC at $7.16. BAC February option implied volatility of 41 is above its 26-week average of 30 according to Track Data, suggesting larger risk.
Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com



