Why do some equities have multiple option contracts listed for the same strike price?

example BAC $5 strikes listed as JLW DA and BYO DE
Also each one is priced differently.
Couldn't I just do an arbitrage call spread by selling one and buying the other, guaranteeing a profitable outcome no matter what?

Asked by mrgoldy in Options 8 months ago

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larryat36 answered 8 months ago …

In this instance it is because of the aquisition. If ever in doubt of something like this call the desk at
888- OPTIONS they will gladly give you the reason for any such discrepencies.