BAC

OIB Trade Alert: BAC, PFE

I am recommending we sell calls on our uncovered shares of Bank of America (BAC) and Pfizer (PFE) to generate income and reduce our cost basis on the positions. Shares of Bank of America got whacked with the rest of the financial sector following the collapse of Silicon Valley Bank, Silvergate and Signature Bank, despite…

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OIB Trade Alert: BAC, PFE

Bank of America (BAC) and Pfizer (PFE) — two of our core positions – have sold off with the broader market over the past two weeks, down around 10% and 5%, respectively. BAC’s sell-off has been exacerbated by the decline in the financial sector following the collapse of Silicon Valley Bank. While California regulators have…

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OIB Trade Alert: BAC, PFE

I am recommending we roll our Bank of America (BAC) and Pfizer (PFE) puts out two weeks to generate more income and reduce our net debits on the positions. BAC Feb Week Four (2/24) 35.50 Put Current Stock Price: $33.92 Net Debit: $9.27 Action: Buy to close the BAC Feb Week Four (2/24) 35.50 Put for…

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OIB Trade Alert: BAC

I am recommending we roll our Bank of America (BAC) put out two weeks to generate more income and reduce our net debit on the position. You can enter the second leg of today’s trade even if you were not in the previous one. Just be aware that we will be managing and tracking it…

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OIB Trade Alert: BAC

Bank of America (BAC) reported better-than-expected fourth-quarter results, as the bank benefitted from higher rates, which helped offset declines in investment banking. Yet, shares sold off as CEO Brian Moynihan offered a muted outlook for 2023. With shares bouncing off this morning’s lows, I am recommending we sell a put to generate income and reduce…

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