Financials Showing Plenty of Life In Options Before Stress Test Results After the Bell

We've seen some active moves within the options pit for bank specific stocks. JP Morgan (JPM) has seen some bullish action while Bank Of America (BAC) has seen potential put-buying protection, with heavy put volume. Perhaps most telling of them all? The Financial Sector ETF (XLF) has seen large volumes in various call contracts so far in early morning trading. Below are some of the more noticeable transactions today: JPM: May $49.00 In-The-Money calls trade hands 3,096 times over an open interest of 1,431. BAC: March 8th Weekly $12.00 Calls trade 36.6K times over an open interest of 36K and 22K $12.00 puts trade over an open interest of 12.9K. We also saw The June $14.00 puts trade 31.3K times over an open interest of 604. XLF: May $19.00 Out-The-Money calls trade 54,866 times over an open interest of 14,947 and the March 28th weeklies have traded 80,299 times over an open interest of 371. This would likely point to a bullish view on the Stress Test results.