New option trade on Bank of America

Bank of America (BAC) has traded up over 25% YTD in 2013, and has a 52 week high of $15.97 which was in the last month.  The US banking sector has been on firmer ground since the 2008/2009 recession, and the sector has been steadily posting top line growth and in some cases record profits.  

Over the past few weeks BAC has pulled back from $15.97 to $15.17 today, and we like being positioned for a short term rebound in this stock.  

We are buying the March 2014 $16 strike Calls for $0.47 cents.   

Our target timeline on this trade is to be out within the next 45 days unless BAC trades above $16.25 with additional upside momentum.