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January 21, 2010 9:30 EST Related Symbols: BAC
you're watching:
OptionsNews
An ahead-of-the-bell look at the market's biggest stories and a review of unusual options activity. Filled with smart market analysis from the ONN.tv team, "Options News" turns the market's top headlines into trading intelligence, hosted by Karla Yeh.
Bank of America shares climb, spark call action, after posting worse-than-expected earnings.
On today’s Options News, Carrie Long and the ONN.tv team cover the CBOE SPX Volatility Index (VIX), which popped up more than 6% on the day to 18.6. The volatility index saw a 1.1 point climb on Wednesday, following earnings from financial names, and we could see the market make more significant moves as earnings season progresses.
Initial jobless claims climbed to 482 thousand applications compared to the estimated 440 thousand on the week. Continuing claims fell to 4 point 6 million, a slight dropped from the previous week.
ONN.tv Senior Derivatives Specialist Jared Levy provides insight on the aftermath of Bank of America (NYSE: BAC) earnings. The financial name missed estimates by seven cents, but Oppenheimer upgraded the company to outperform yesterday. We saw the March 15 puts cross roughly 5,000 times, and the February 16-strike and 17-strike calls traded 58,000 and 33,000 times, respectively. BAC has a 30-day historical volatility of roughly 32.5, and the options have an implied volatility of 35, meaning the options are roughly in-line with normal volatility level.
For more breaking news and investment pointers on the options market, stay tuned in to ONN.tv.
