Financial giants have made a conspicuous bearish move on Bank of America. Our analysis of options history for Bank of America BAC revealed 15 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 60% showed bearish tendencies. Out of all the trades we spotted, 9 were puts, with a value of $587,811, and 6 were calls, valued at $431,826.
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 $28.0 to $55.0 for Bank of America over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $28.0 to $55.0 in the last 30 days.
Bank of America Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BAC | PUT | SWEEP | BEARISH | 11/15/24 | $5.1 | $5.0 | $5.1 | $44.00 | $153.0K | 89 | 300 |
| BAC | CALL | SWEEP | BULLISH | 11/15/24 | $4.5 | $4.45 | $4.5 | $37.00 | $135.0K | 942 | 300 |
| BAC | CALL | SWEEP | BULLISH | 07/19/24 | $0.76 | $0.75 | $0.76 | $41.00 | $126.6K | 24.2K | 1.7K |
| BAC | PUT | SWEEP | BEARISH | 06/21/24 | $0.62 | $0.61 | $0.61 | $39.00 | $116.2K | 6.1K | 1.9K |
| BAC | PUT | SWEEP | BEARISH | 09/20/24 | $0.14 | $0.13 | $0.14 | $30.00 | $70.4K | 29.1K | 5.0K |
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.
Where Is Bank of America Standing Right Now?
- Currently trading with a volume of 10,865,794, the BAC's price is down by -0.72%, now at $39.41.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 49 days.
Professional Analyst Ratings for Bank of America
2 market experts have recently issued ratings for this stock, with a consensus target price of $43.25.
- An analyst from Oppenheimer persists with their Outperform rating on Bank of America, maintaining a target price of $46.
- An analyst from JP Morgan has decided to maintain their Overweight rating on Bank of America, which currently sits at a price target of $40.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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