Unusual Options Activity: High Volume in Bank of America Calls

Someone is getting long Bank of America (BAC) calls Friday. So far, 4,404 contracts of the Oct. 8 45 call have change hands, while 5,000 contracts of the Oct 46 have crossed the tape so far today. This volume outstrips open interest at both strikes, and the majority of these contracts have moved high in the bid-ask spread, indicating likely buy-to-open activity.