- New Trades -


Bank of America - BAC - close: 12.57

Comments:
03/16/13: The financial sector rallied to new multi-year highs with BAC helping lead the way. BAC passed the Federal Reserve's bank stress tests with flying colors. BAC also got the Fed's approve to buy back up to $5 billion in common stock and redeem $5.5 billion in preferred stock. This approval for a stock buyback helped send BAC to new highs on Friday.

We had BAC on our watch list with an entry point to buy calls if BAC closed above $12.55. Shares met that entry requirement on Friday at the close. Our trade will open on Monday morning. Our long-term target is $18.00.

- Suggested Positions -
MAR 18, 2013 - entry price on BAC @ --.--, option @ -.--
symbol: BAC1418a15 2014 JAN $15 call - current bid/ask $0.48/0.50

- or -

MAR 18, 2013 - entry price on BAC @ --.--, option @ -.--
symbol: BAC1517a15 2015 JAN $15 call - current bid/ask $1.26/1.29

Chart of BAC:

Current Target:$ 18.00
Current Stop loss: 10.90
Play Entered on: 03/18/13

Originally listed on the Watch List: 03/09/13