Bank of America (NYSE:BAC) suffered a loss of around $10M on Friday with a "dividend trade" in which traders sell call options the day before an ETF goes ex-dividend with the intention of buying them back cheaper. The play is a favorite of big operators, but - as Friday's experience shows - is definitely not risk-free.
Bank of America (NYSE:BAC) suffered a loss of around $10M on Friday with a "dividend trade" in...
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| Symbol | Last Price | % Chg |
|---|---|---|
| BAC | - | - |
| Bank of America Corporation | ||