This Is What Whales Are Betting On Bank of America

Whales with a lot of money to spend have taken a noticeably bullish stance on Bank of America.

Looking at options history for Bank of America BAC we detected 14 trades.

If we consider the specifics of each trade, it is accurate to state that 64% of the investors opened trades with bullish expectations and 35% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $323,800 and 11, calls, for a total amount of $1,965,584.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $23.0 to $40.0 for Bank of America over the last 3 months.

Volume & Open Interest Development

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 $23.0 to $40.0 over the preceding 30 days.

Bank of America Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

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.

In light of the recent options history for Bank of America, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is Bank of America Standing Right Now?

• With a volume of 8,040,696, the price of BAC is down -0.4% at $37.66.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 19 days.

What The Experts Say On Bank of America

5 market experts have recently issued ratings for this stock, with a consensus target price of $40.2.

• An analyst from Oppenheimer persists with their Outperform rating on Bank of America, maintaining a target price of $46.
• An analyst from HSBC has revised its rating downward to Hold, adjusting the price target to $39.
• Consistent in their evaluation, an analyst from Piper Sandler keeps a Underweight rating on Bank of America with a target price of $33.
• An analyst from Wells Fargo persists with their Overweight rating on Bank of America, maintaining a target price of $44.
• Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Bank of America, targeting a price of $39.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Bank of America, Benzinga Pro gives you real-time options trades alerts.