Shares of Fifth Third Bank Corp. (FITB) are trading up .33 today to $14.99.? FITB is trading near its highest level in three months.
Paper looked to buy the FITB Jan 14 and 15 calls in large size from .78 to .97 and .29 to .40 respectively.? Total volume for each strike was 12,901 and 7,393 with mostly scattered buying in blocks of 100+ contracts lifting the offer on most of the volume.? Average contract volume is over 6,000 contracts per day.? Open Interest was 9,000+ and 16,000+ contracts.? The implied volatility is up 23.5% and 23.1% on the 14 and 15 strike in January and IV is up sharply in the class. This looks to be opening, relatively bullish paper.
30-day implied volatility is 28%.?? 10-day implied volatility is 19%.? 30-day implied volatility is trading just over the 10-day historical volatility.
Fifth Third Bancorp (the Bancorp) is a diversified financial services company. As of December 31, 2011, the Bancorp had $117 billion in assets, operated 15 affiliates with 1,316 full-service Banking Centers.