Bank of America Unusual Options Activity For February 09

Financial giants have made a conspicuous bearish move on Bank of America. Our analysis of options history for Bank of America BAC revealed 16 unusual trades.

Delving into the details, we found 31% of traders were bullish, while 68% showed bearish tendencies. Out of all the trades we spotted, 10 were puts, with a value of $391,079, and 6 were calls, valued at $219,036.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $35.0 for Bank of America during the past quarter.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Bank of America's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Bank of America's substantial trades, within a strike price spectrum from $30.0 to $35.0 over the preceding 30 days.

Bank of America Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About Bank of America

Bank of America is one of the largest financial institutions in the United States, with more than $2.5 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily U.S.-focused.

Following our analysis of the options activities associated with Bank of America, we pivot to a closer look at the company's own performance.

Present Market Standing of Bank of America

• With a volume of 5,825,833, the price of BAC is down -0.18% at $33.06.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 67 days.

What The Experts Say On Bank of America

In the last month, 5 experts released ratings on this stock with an average target price of $41.98.

• Showing optimism, an analyst from Morgan Stanley upgrades its rating to Overweight with a revised price target of $41.
• An analyst from Odeon Capital downgraded its action to Hold with a price target of $33.
• Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Bank of America with a target price of $49.
• An analyst from Oppenheimer has decided to maintain their Outperform rating on Bank of America, which currently sits at a price target of $50.
• An analyst from BMO Capital has decided to maintain their Market Perform rating on Bank of America, which currently sits at a price target of $36.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Bank of America with Benzinga Pro for real-time alerts.