Interesting - Why hold BAC?I bought JNJ calls today that expire in October. Also holding BAC and MCD calls in that account. That is my long term account. The rest is all cash. I only have about $2500-3000 of that account tied up at any time and am averaging about $500/week in that account. I will eventually add to my positions but for now taking smaller positions and minimal overnight risk. I never hod anything overnight in my day trade account. It's 100% cash every night.
Their dividend yield is about the lowest in the sector (I think number 10 of 11 being tracked).
Corporations are cash rich and are liquidating debt
Interest rates are at the bottom and the Fed states they are going to hold there for some time.
It seems the banks have a lot of cash but can't use it and if industry doesn't kick start soon that cash will dwindle.
I can't yet see the up side...
With that said BAC is generally considered a cautious Buy. But I still don't get it..
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