RF: A Trader Sees More Upside

A bullish call rollover was spotted on RF on Friday, March 4. An option trader sold 4000 March 2017 calls and purchased the same number of April calls at the strike 16. The April calls were bought for $0.35 per contract and came on the lower open interest, which indicates that this is a new position.

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This regional bank’s stock price has doubled over the last several quarters along with other regional and national banks in the US. Additionally, RF released very positive recent earnings report. The report had better-than-expected EPS which was supported by impressive growth in revenues.

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