Trade of the Week: First Republic Bank

Trade of the Week

As the regional banking crisis enters its second week, options traders have been eyeing First Republic Bank (FRC). The ultra-high volatility in FRC means there has been plenty of options action in the stock, with thousands more options trading than what normally occurs. One trader appears to be selling over 3,5000 puts that expire in May, with the chance to collect $1.5 million in premiums if the trade works out.