Financial giants have made a conspicuous bullish move on Bank of America. Our analysis of options history for Bank of America BAC revealed 8 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 37% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $217,492, and 3 were calls, valued at $173,090.
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 $32.0 to $42.0 for Bank of America during the past quarter.
Insights into Volume & Open Interest
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 $32.0 to $42.0 over the preceding 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 | CALL | TRADE | NEUTRAL | 01/17/25 | $9.4 | $8.25 | $8.75 | $32.00 | $87.5K | 29.1K | 0 |
| BAC | PUT | SWEEP | BULLISH | 09/20/24 | $3.1 | $3.05 | $3.07 | $42.00 | $52.9K | 1.7K | 328 |
| BAC | CALL | SWEEP | BULLISH | 06/07/24 | $0.35 | $0.31 | $0.35 | $39.50 | $51.1K | 6.0K | 18 |
| BAC | PUT | SWEEP | BULLISH | 09/20/24 | $3.15 | $3.05 | $3.05 | $42.00 | $47.2K | 1.7K | 0 |
| BAC | PUT | SWEEP | BEARISH | 09/20/24 | $0.83 | $0.81 | $0.83 | $37.00 | $41.5K | 16.0K | 1.5K |
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
- With a trading volume of 1,793,064, the price of BAC is up by 0.24%, reaching $39.77.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 41 days from now.
Expert Opinions on Bank of America
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $37.0.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Underweight rating on Bank of America with a target price of $37.
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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