Investors with a lot of money to spend have taken a bearish stance on Bank of America BAC.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with BAC, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 15 options trades for Bank of America.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $30,770, and 14, calls, for a total amount of $1,040,578.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $42.0 for Bank of America over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Bank of America stands at 22675.9, with a total volume reaching 4,201.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Bank of America, situated within the strike price corridor from $25.0 to $42.0, throughout the last 30 days.
Bank of America Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BAC | CALL | SWEEP | BEARISH | 01/16/26 | $10.5 | $10.2 | $10.2 | $30.00 | $204.0K | 15.6K | 21 |
| BAC | CALL | TRADE | NEUTRAL | 01/17/25 | $14.15 | $11.75 | $12.9 | $25.00 | $129.0K | 28.2K | 0 |
| BAC | CALL | TRADE | BEARISH | 09/20/24 | $10.55 | $9.95 | $9.95 | $28.00 | $99.4K | 4.1K | 0 |
| BAC | CALL | TRADE | NEUTRAL | 06/21/24 | $10.25 | $9.0 | $9.6 | $28.00 | $96.0K | 21.0K | 0 |
| BAC | CALL | SWEEP | BULLISH | 01/16/26 | $4.6 | $4.6 | $4.6 | $40.00 | $92.0K | 6.5K | 260 |
About Bank of America
Bank of America is one of the largest financial institutions in the United States, with more than $3.0 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 US-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.
Present Market Standing of Bank of America
- Trading volume stands at 11,837,130, with BAC's price up by 0.24%, positioned at $37.2.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 8 days.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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