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 27 trades.
If we consider the specifics of each trade, it is accurate to state that 48% of the investors opened trades with bullish expectations and 48% with bearish.
From the overall spotted trades, 11 are puts, for a total amount of $499,156 and 16, calls, for a total amount of $1,250,503.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $35.0 to $50.0 for Bank of America over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Bank of America stands at 6900.13, with a total volume reaching 23,693.00. 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 $35.0 to $50.0, throughout the last 30 days.
Bank of America Option Activity Analysis: Last 30 Days
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 | SWEEP | BEARISH | 12/20/24 | $3.95 | $3.85 | $3.85 | $39.00 | $114.7K | 3.4K | 298 |
| BAC | CALL | SWEEP | BEARISH | 02/21/25 | $3.4 | $3.3 | $3.3 | $41.00 | $99.0K | 644 | 0 |
| BAC | CALL | SWEEP | BULLISH | 06/20/25 | $1.17 | $0.94 | $1.17 | $50.00 | $93.9K | 16.4K | 0 |
| BAC | CALL | SWEEP | BEARISH | 01/16/26 | $7.75 | $7.65 | $7.65 | $37.00 | $92.5K | 6.7K | 122 |
| BAC | CALL | SWEEP | BEARISH | 11/15/24 | $1.49 | $1.48 | $1.48 | $43.00 | $91.2K | 2.5K | 669 |
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.
Having examined the options trading patterns of Bank of America, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Bank of America
- With a volume of 29,248,809, the price of BAC is down -2.33% at $40.32.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 76 days.
Professional Analyst Ratings for Bank of America
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $45.8.
- Reflecting concerns, an analyst from Keefe, Bruyette & Woods lowers its rating to Outperform with a new price target of $48.
- An analyst from BMO Capital persists with their Market Perform rating on Bank of America, maintaining a target price of $40.
- An analyst from Barclays persists with their Overweight rating on Bank of America, maintaining a target price of $49.
- An analyst from Morgan Stanley has decided to maintain their Overweight rating on Bank of America, which currently sits at a price target of $49.
- An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Bank of America, which currently sits at a price target of $43.
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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