- Wells Fargo & Co WFC and Bank of America Corp BAC are scheduled to announce third quarter financial results on Wednesday, before the market opens.
- Benzinga had the chance to chat with TD Ameritrade’s Chief Strategist JJ Kinahan.
- The investor shared some thoughts regarding options activity in these stocks.
Bank of America
Kinahan first went into Bank of America, which shows “nothing special” volatility wise. “This is a stock that, in terms of pure dollars, it has a tough time moving a lot,” he explained. “This is a stock that rarely makes gigantic moves one way or the other.”
Related Link: TD Ameritrade's JJ Kinahan On Options Activity At Intel, JPMorgan
The strategist added that the market is currently pricing in a move in the stock of approximately 3 percent.
Wells Fargo
“The interesting thing about Wells Fargo is always what they see for interest rates and how that will affect the mortgage business, because they are such a big mortgage provider,” he assured, adding that this call should also bring some interesting comments about the recently struck deal with General Electric Company GE.
In this case, the market is pricing in a 1.5 percent move.
Regarding options activity, the company saw plenty of buyers of the $52.50 calls and puts over the past week, and this continued on Tuesday for the monthly options, Kinahan said.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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