Financial giants have made a conspicuous bearish move on Bank of America. Our analysis of options history for Bank of America BAC revealed 13 unusual trades.
Delving into the details, we found 30% of traders were bullish, while 69% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $452,295, and 8 were calls, valued at $504,945.
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 $28.0 to $47.0 for Bank of America during the past quarter.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Bank of America's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Bank of America's significant trades, within a strike price range of $28.0 to $47.0, over the past month.
Bank of America 30-Day Option Volume & Interest Snapshot
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 | BEARISH | 07/19/24 | $0.81 | $0.79 | $0.8 | $40.00 | $179.9K | 10.1K | 453 |
| BAC | CALL | TRADE | BEARISH | 01/17/25 | $3.45 | $3.4 | $3.4 | $40.00 | $159.8K | 64.2K | 98 |
| BAC | PUT | SWEEP | BEARISH | 03/21/25 | $7.45 | $7.35 | $7.45 | $47.00 | $100.5K | 371 | 82 |
| BAC | CALL | TRADE | BULLISH | 12/20/24 | $4.9 | $4.8 | $4.9 | $37.00 | $73.5K | 8.2K | 0 |
| BAC | PUT | TRADE | BEARISH | 07/19/24 | $0.08 | $0.07 | $0.08 | $36.00 | $66.4K | 16.3K | 2 |
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.
Present Market Standing of Bank of America
- Currently trading with a volume of 9,553,598, the BAC's price is up by 0.23%, now at $39.86.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 15 days.
Professional Analyst Ratings for Bank of America
In the last month, 2 experts released ratings on this stock with an average target price of $41.5.
- An analyst from Keefe, Bruyette & Woods has elevated its stance to Outperform, setting a new price target at $46.
- An analyst from Piper Sandler persists with their Underweight rating on Bank of America, maintaining a target price of $37.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Bank of America options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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