When you’re a bank in the most troubled sovereign in the world, your common equity is basically going to trade like an option, as investors alternate between thinking everything will go to ~0 or return to some point of respectability.
Huge swings are very common.
Today is an up day, as tweeted by Greek financial reporter Eleftheria Kourtali
Greek banksindex up 7.18% on optimism over recapitalization-Alpha up 15.04%,NBG up 8.6%,Piraeus up 9.97%,Eurobank up 13.13% TT up 9.98%
— Eleftheria Kourtali (@EKourtali) April 17, 2012