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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.

Option update 10-26-07: Bank of America (BAC) volatility at 5-year highs originally appeared on BloggingStocks on Fri, 26 Oct 2007 07:52:00 EST. Please see our terms for use of feeds.

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