SunTrust Banks pops $5 1/2 dollars on earnings and the monetization of it's Coke stake.
At least you had it here:
Now the yields will provide enticement for buyers as the expansion of the net interest margin more than offsets loan losses.
SunTrust (STI 31.83) who said they didn't need to raise capital, and weren't going to cut their dividend, fits in that category. They also have a big asset in Coca Cola.
And for emphasis here a few bucks higher:
Suntrust (STI 34.70) reports earnings on Tuesday. On the June option expiration last month, STI said it wouldn't need to raise more capital, and that the dividend was secure. The stock reversed and spiked up that day. That should of marked the bottom. Instead the shorts attacked it with more naked selling, and drove it to artificially depressed prices.
The quarterly results would already of been known. The way to play Tuesday's earnings is the August 40 call. Almost 5,000 traded Friday, and they closed at a buck. STI also has a huge stake in Coca Cola.
The August 40 calls closed at 2.80 today, with some room to go. As advertised!