" National City Corp. (NCC) said Thursday it will reap an aftertax cash gain of about $500 million, or about 79 cents a share, from Visa's (V) initial public offering Wednesday. The gain represents a redemption of about 39% of the bank's outstanding Visa shares. The Cleveland financial company said it will report first quarter earnings April 22. -Riley McDermid; 415-439-6400; AskNewswires@dowjones.com " run above $13 after the reports are in? 12.5 july calls? or do u think the this news is already reflected in the current price and spike today ??