Bank of America (BAC) is selling off today with the sector following a mixed earnings report from JPMorgan Chase (JPM). BofA is scheduled to report Monday before the close, and I do not want to hold a position through the announcement.
Therefore, I am recommending you close now by buying back the call and selling shares. We will carry over a net debit and sell a put once the earnings dust settles.
Current Stock Price: $38.84
Action:
- Buy to close the BAC Apr Monthly (4/14) 41.50 Call for around $0.02, but adjust as needed to close today
- Sell shares at market
Net Debit: $6.77
Potential Rate of Return: I am targeting breakeven for this position