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Actionable news in BAC: BANK OF AMERICA CORPORATION,

Trader bets $1.2 million on Bank of America—and could make a 633 percent profit

Bank of America's summer surge has some traders betting on further upside for the stock.

Wanting to cash in, one trader in particular made a $1.2 million bet on the bank that could see him reaping rewards this Friday.

On Tuesday morning, one trader bought about 100,000 September 2nd weekly 16-strike calls for 12 cents per share, or $12 per options contract. The trade was made when Bank of...


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