Financial giants have made a conspicuous bearish move on Bank of America. Our analysis of options history for Bank of America BAC revealed 19 unusual trades.
Delving into the details, we found 31% of traders were bullish, while 68% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $353,000, and 16 were calls, valued at $976,080.
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 $23.0 to $50.0 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 $23.0 to $50.0 in the last 30 days.
Bank of America Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BAC | PUT | SWEEP | BULLISH | 03/21/25 | $7.6 | $7.5 | $7.5 | $47.00 | $213.0K | 306 | 0 |
| BAC | CALL | SWEEP | BEARISH | 06/21/24 | $17.75 | $16.75 | $16.8 | $23.00 | $168.0K | 213 | 0 |
| BAC | CALL | SWEEP | BEARISH | 09/20/24 | $1.97 | $1.95 | $1.95 | $40.00 | $121.4K | 27.1K | 841 |
| BAC | CALL | SWEEP | BEARISH | 09/20/24 | $1.97 | $1.95 | $1.95 | $40.00 | $117.1K | 27.1K | 76 |
| BAC | CALL | SWEEP | BEARISH | 12/20/24 | $3.45 | $3.4 | $3.4 | $39.00 | $87.0K | 11 | 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.
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.
Where Is Bank of America Standing Right Now?
- Trading volume stands at 5,066,407, with BAC's price up by 0.72%, positioned at $39.8.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 28 days.
Expert Opinions on Bank of America
2 market experts have recently issued ratings for this stock, with a consensus target price of $41.5.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Underweight rating for Bank of America, targeting a price of $37.
- In a positive move, an analyst from Keefe, Bruyette & Woods has upgraded their rating to Outperform and adjusted the price target to $46.
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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