A trader put on a bull risk reversal using the August $13/$10 options for a 1 cent credit, 4,700x.
The trader is making a bullish bet that Bank of America is at or near its lows, and will start to rally. BAC was trading near $11.50 when the trade was executed, which is exactly in between the $10 and $13 strikes. The spread is short puts and long calls and therefore has unlimited risk to zero and unlimited profit potential. However, the trader collects $4,700 for the trade and doesn't start to lose money until BAC drops below $10. If both options expire worthless by August expiration, the trader keeps the credit.
The two white lines in the weekly BAC chart are $11 and $18. You can see that the trader possibly views the $11 as a support level and a bottom, and will therefore make a push toward the upper end of the range.
No position at this time. Position declarations are believed to be accurate at time of writing but may change at any time and without notice.