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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 Foster (RSS feed)
Filed under: Before the Bell, Management, Bank of America (BAC), , Options, S and P 500

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.

Symbol Lookup
IndexesChangePrice
DJIA-74.9212,454.83
NASDAQ-1.852,837.53
S&P 500-2.861,317.82

Last updated: May 27, 2012: 03:40 AM

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