Whales with a lot of money to spend have taken a noticeably bearish stance on Bank of America.
Looking at options history for Bank of America BAC we detected 28 trades.
If we consider the specifics of each trade, it is accurate to state that 39% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 13 are puts, for a total amount of $836,213 and 15, calls, for a total amount of $1,026,632.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $30.0 and $65.0 for Bank of America, spanning the last three months.
Analyzing 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 $30.0 to $65.0 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 | SWEEP | BEARISH | 09/20/24 | $0.42 | $0.41 | $0.41 | $41.00 | $287.7K | 32.5K | 7.2K |
| BAC | PUT | SWEEP | BEARISH | 09/19/25 | $6.85 | $6.7 | $6.85 | $45.00 | $187.7K | 30 | 300 |
| BAC | PUT | SWEEP | BEARISH | 03/21/25 | $5.25 | $5.15 | $5.25 | $44.00 | $157.5K | 0 | 300 |
| BAC | CALL | TRADE | BEARISH | 09/20/24 | $0.42 | $0.4 | $0.4 | $41.00 | $120.0K | 32.5K | 10.2K |
| BAC | CALL | TRADE | BULLISH | 09/20/24 | $1.6 | $1.55 | $1.6 | $39.00 | $104.0K | 15.4K | 1.2K |
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
- With a volume of 22,817,771, the price of BAC is up 0.25% at $39.34.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 53 days.
What Analysts Are Saying About Bank of America
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $49.0.
- 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.
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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