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 trades 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.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for Bank of America.
This isn't normal.
The overall sentiment of these big-money traders is split between 37% bullish and 62%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $58,350, and 6 are calls, for a total amount of $295,952.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $36.0 to $39.0 for Bank of America during the past quarter.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Bank of America's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Bank of America's whale activity within a strike price range from $36.0 to $39.0 in the last 30 days.
Bank of America Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BAC | CALL | SWEEP | BEARISH | 06/21/24 | $1.15 | $1.12 | $1.13 | $39.00 | $146.5K | 5.2K | 0 |
| BAC | CALL | SWEEP | BULLISH | 04/19/24 | $0.71 | $0.7 | $0.71 | $38.00 | $38.8K | 19.7K | 128 |
| BAC | CALL | TRADE | NEUTRAL | 11/15/24 | $3.2 | $3.1 | $3.15 | $38.00 | $31.5K | 677 | 103 |
| BAC | PUT | SWEEP | BULLISH | 04/26/24 | $0.32 | $0.3 | $0.3 | $36.00 | $30.0K | 677 | 2 |
| BAC | PUT | TRADE | BULLISH | 01/17/25 | $2.72 | $2.7 | $2.7 | $37.00 | $28.3K | 21.4K | 0 |
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.
Bank of America's Current Market Status
- With a volume of 2,196,621, the price of BAC is up 0.03% at $37.51.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 7 days.
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.
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