![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjvj_4RrrHIhhLIPFlFKmNjrFJJkvVoqXX3tT1KQLc74ZtYzOdZQQ9K9nRfVNmouqPb-cfdu99aRMx637y614zV33SC4tZLovr1qp2ILDtPw4eYAPSiwHFmZjelZWgkUucqc0_MtqTF-lQ/s400/fitb_summary.gif)
The company has traded over 41,500 options today in the first few hours on total daily average option volume of 10,119. Further, 38,000 + have been calls for a 10:1 call:put ratio. The Company Tab snapshot is below (click the image to enlarge).
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEho1H_BLlEh527YP3gZ1tSz1XPEM_MvTiPbFzqp0J8ZNx2IG4OrouzGcQ6NMlseFFt7hw5RwoxBRfy-77H4IZlwXuc2QtMT6tNVWIEsr4IeruDikObInFBj1OM4l1TB8m4-FLHPb5Y6vC4/s400/fitb_company.gif)
10,500 Feb 14 calls have been traded and 14,500 May 14 calls traded as well. Feb 12.5/14 1x3 Call spread traded 3000 x 9000 at 8 cents and crossed on the PHLX (sell 14 buy 12.5). The day's biggest trades and Option Tab snapshots (Feb and May) are inlcuded below (click either image to enlarge).
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiZ_Hv3XQ_syRd8IlSS8mPyAcjhyphenhyphenwkgvTHkUqaL0DVgRnma6aRJ4n36mxgU6VdLmu91pwpVxmRrUHgLK4yQZT8WbybFiU5Pafywp3m5WH_lDdz5t3VdgKluEhLrA9CtmUr41sEr0-klbrg/s400/fitb_trades.gif)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg2WK-qM24fPd_88jmz6FUF7SVS0YH3JAJXBbr4ng0cPSDRKXNFXCicZZ_81ZfvJ7c5Dn9yoBsColGRTOXjskm2MVs3RvELnGy1prpjrjIWGMplKzIHG2xeJUR55epXErZj991wQ_2-IXY/s400/fitb_options.gif)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiZyWaY3HLYvrOmYgi1CLo8fsfE_XLwL7Vi0T-Lgn590CxcznCln3vqPHlyUfjEVuicevrEMkw5SaelUVRb53JESRkDEvT7iqN9evLwWbBYnU09TRkrgHRilQJmcHglzgHPP99_Zk2TbSE/s400/fitb_options_may.gif)
Note the low open interest relative to trade size in the Feb 14 and May 14 calls - these are opening trades. Finally the Charts Tab snapshot is presented below. You can see the stock is hitting new recent highs off of a bounce from earnings. 52 wk. high is 12.87.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsczAhzqKq1_ltaCk9VdzGfLn26lXpKDwTNxwblrEBGOG2QO3VwLA3STsf5fi62fObw4q9U6oK3H-ny9sF9S1wNYxK-b1CroxT2rVyIHc77t0Gp1_SKZ-gWjiR_NQ7u2ELVXaoD89Ud00/s400/fitb_charts.gif)
The PnL for the 1 x 3 call spread is inlcuded below.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjsKXXd065VWlc0qOwbbLQ1DqS9_JfKmQGdgwwyYMnCgDAqyfVf536aAaNgcF-lK4W75-rhJ09TjKksatirut9jEyJpBHTM5YxrhKg7AKFD5yF-oOmEvvY1AQDB7ZTeC7QL7FALRWHCfoQ/s400/fitb_pnl.gif)
Max Gain with stock at $14.
Break Even Low: 12.58
Break Even High: 14.71
This is bullish with a limit. The naked call purchases in May are obviously bullish unless they traded with stock.
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