Yesterday's BAC Trade Update

As you know, yesterday I went with some BAC March 7 puts as the rumor/news about the F_E_D's white sheet sent BAC flying, which I viewed as a non-starter as Congress does not want to expand the GSEs , in any case, this morning thus far they are at a nearly 11% profit, but I think I'll hold them a bit longer and wait for this morning's bear flag looking move to resolve. Furthermore...

As I mentioned in the last post, I think the Bloomberg denial from the WH was known well in advance and this 5 min 3C chart seems to agree. This would fall right in line with the post last night about the government and Wall Street connection. If I'm even close to on target, this would have been a gift to Wall Street and one they used to sell their BAC holdings, too bad they didn't do this before December 27th.