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1 pt

Bought BAC

 Jun 20, 2008 01:51 PM UTC
Return Risk
+1.38% LOW
Tracked Blogger
Symbol Sentiment Start Return Closed
WFC n/a
BAC Positive 06/20/08 -1.77% 06/24/08
CFC n/a

Graphic_arrow1 Via Bluedog:  

I bought Jan. 2010 $35 BAC calls at $2.50. Today, JPMorgan said that Bank of America (NYSE: BAC) and Wells Fargo (NYSE: WFC) are among lenders with the lowest reserves to cover bad loans. JPMorgan thinks these lenders may raise more money to increase reserves. Bank of America has lower reserves compared with its peer group, and this will worsen after it buys Countrywide Financial (NYSE: CFC).



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