Option traders moderately bearish in Bank of America (BAC), with shares down 90c near $48.88. Options volume running well above average with 141k contracts traded and calls leading puts for a put/call ratio of 0.81, compared to a typical level near 0.77. Implied volatility (IV30) is higher by 1.8 points near 32.91, in the highest 10% of observations over the past year, suggesting an expected daily move of $1.01. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at Erste Group.Looking ahead: Bank of America (BAC) will report earnings before the open on 2025-10-15.Option markets are pricing in a 50% probability of a move greater than 4.31% or $2.11.
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