Huge Bet on Bank of America, US Airways Faces Depositions, and 3 More Hot Stocks

Bank of America (NYSE:BAC): An order of 50,000 $11 puts on Bank of America has been confirmed as the initiation of a position, according to Steven Sears,┬ánoting that this morning’s open interest shows a 50,000 rise to 116,958 contracts. Sears also points out that the stake could be a long position hedging their bet, rather than a bearish position.