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 18 trades.
If we consider the specifics of each trade, it is accurate to state that 55% of the investors opened trades with bullish expectations and 38% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $715,004 and 13, calls, for a total amount of $756,521.
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 $25.0 to $42.0 for Bank of America during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Bank of America stands at 15861.5, with a total volume reaching 18,014.00. 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
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BAC | PUT | TRADE | BEARISH | 09/20/24 | $0.92 | $0.9 | $0.92 | $37.00 | $460.0K | 11.5K | 5.0K |
| BAC | PUT | TRADE | NEUTRAL | 01/17/25 | $0.48 | $0.46 | $0.47 | $30.00 | $136.3K | 79.9K | 2.9K |
| BAC | CALL | TRADE | BEARISH | 08/16/24 | $0.64 | $0.63 | $0.62 | $42.00 | $128.5K | 0 | 0 |
| BAC | CALL | SWEEP | BULLISH | 12/20/24 | $1.83 | $1.81 | $1.83 | $42.00 | $91.5K | 2.7K | 500 |
| BAC | CALL | SWEEP | BEARISH | 06/21/24 | $1.81 | $1.76 | $1.78 | $38.00 | $71.2K | 42.2K | 510 |
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.
After a thorough review of the options trading surrounding Bank of America, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Bank of America's Current Market Status
- With a trading volume of 31,543,036, the price of BAC is up by 2.14%, reaching $39.65.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 56 days from now.
Expert Opinions on Bank of America
2 market experts have recently issued ratings for this stock, with a consensus target price of $43.25.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Bank of America with a target price of $40.
- Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Bank of America, targeting a price of $46.
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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