A Play on Bank of America Earnings

We haven't seen a lot of bank sector volatility this morning in response to earnings from Action Alerts PLUS holding Citigroup (C) and JPMorgan Chase & Co  (JPM) , although some sell-the-news has crept into view. There are still plenty of hours left in the day, but JPM feels like it will remain fairly tepid.

If, as a trader, you followed along with my preferred strategy of the long call spread with the short put spread, you should be headed to the exit by now. The thesis was to go long in the money on the call side and short at the money on the call side, as well as being short out of the money on the put side. The trade is up around 22% at the time of writing, but was up much higher earlier this morning....848 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.


TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.