Options Traders Bet Big on Fifth Third's Big Comerica Purchase

Core Insights - Fifth Third Bancorp has acquired Comerica Inc for $10.9 billion in an all-cash deal, increasing its total assets to $288 billion and making it the ninth largest bank in the U.S. [1] - The acquisition is expected to close by the first quarter of 2026 [1] Stock Performance - Fifth Third Bancorp's stock is currently trading at $44.53, up 0.3%, while Comerica's stock has risen 16% to $81.85 [2] - Fifth Third's stock reached a high of $45.33 earlier in the day but has faced resistance at $46 in recent months [3] Options Activity - There has been a significant increase in options trading for Fifth Third, with 6,637 calls traded, which is 18 times the average intraday volume [4] - The January 16, 2026, 46-strike call is the most popular option, indicating strong interest from traders [4] Volatility Metrics - The Schaeffer's Volatility Index (SVI) for Fifth Third is at 31%, in the 14th percentile of annual readings, suggesting low volatility expectations from options traders [5] - The stock's Schaeffer's Volatility Scorecard (SVS) is 72 out of 100, indicating it has historically outperformed volatility expectations over the past year [5]