Biggest option block of the day is in Bank of America
Biggest option block of the day is in Bank of America. The stock up 41c to $30.08 and one player liquidates 87.5K Jul 29.5 calls at 65c. 107K trade total against 123K open interest and trade history shows notable opening activity at that strike on 7/6 when a buyer paid 9c for 70K (rolling out of Jul 6th 28.5 calls with shares near $28). Rather than roll the position, the investor seems content closing the ITM calls and monetizing the hefty profit. Nearly 90K Jul 30 puts and 80K Jul 30 calls also traded in the name, as shares sit 8c above the 30 strike in the final hour. Jul 29 calls, Jul 27th 30 calls, Aug 30 calls, and Aug 30 puts are busy as well. Total volume running well above normal due to the expiration with nearly 400K calls and 157K puts changing hands - expiring July contracts account for almost two-thirds of the option flow in BAC today.