These long callslock the price that traders would need to pay for the stock, so they can deliver substantial leverage if the bank moves in the right direction.
More than 400,000 calls traded compared with less than 200,000 puts, reflecting the bullish sentiment. Bank of America stock closed 5.74 percent higher at $6.63.
JPMorgan Chase was also active, though its options were more evenly split between calls and puts. But it was curious to see the March 40 calls light up late in the day for $0.48 and $0.50. The bank's shares also finished strong, rising 2.12 percent to $36.05.
—Najarian is long BAC and JPM calls.
Additional News: Financials Turn Positive, Bank of America Back Above $6
Additional Views: No Substance Behind Bank Stock Surge?
Options Trading School:
Pete Najarian is a professional investor, CNBC contributor, regular co-host of CNBC's "Fast Money" and co-founder of OptionMonster.com.