TD Ameritrade Chief Strategist On Bank of America Ahead of Earnings

Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan discussed Bank of America Corp BAC ahead of its earnings report.

Kinahan noted that the bank’s stock was nearly unchanged since the last earnings report, whereas many other bank stocks had risen.

As of Monday, April $16 Calls along with April $16.50 Calls for the following week had seen increased buying action. Kinahan highlighted that May $17 Calls had also seen buyers.

Commenting on implied volatility, Kinahan said the stock was at the 50th percentile while historical volatility was at the 25th percentile.

Bank of America Corp reports Q1 earnings Wednesday before the market open and heading into the report it traded at $15.74, down 0.35 percent.

Kevin Riley and Brianna Valleskey contributed to this report.