Bank of America: Why Options Traders See More Pain Ahead

Bank of America Corporation BAC shares fell Thursday despite Wall Street recording gains in the session .

On CNBC’s "Options Action," Mike Khouw of Optimize Advisors said Bank of America was the tenth busiest among single stocks and also the busiest among financials on Thursday.

Don’t forget to check out our premarket coverage here.

There was a buyer of 1,000 of the January 32-puts at an average price of $1.34 per contract, Khouw mentioned. The trader expects Bank of America’s stock to retest the October lows by January expiration.

BAC Price Action: Shares of Bank of America fell 0.9% to $32.44 during the regular trading session on Thursday, but added 0.3% in after-hours trading.

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Photo via Shutterstock.

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Posted In: NewsShort IdeasOptionsTop StoriesMarketsMediaTrading Ideasbanksbig banksMike KhouwOptimize AdvisorsOptions Action
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