Financial giants have made a conspicuous bullish move on Bank of America. Our analysis of options history for Bank of America BAC revealed 18 unusual trades.
Delving into the details, we found 61% of traders were bullish, while 38% showed bearish tendencies. Out of all the trades we spotted, 10 were puts, with a value of $1,197,725, and 8 were calls, valued at $720,173.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $35.0 to $50.0 for Bank of America over the last 3 months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Bank of America options trades today is 9784.67 with a total volume of 14,763.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Bank of America's big money trades within a strike price range of $35.0 to $50.0 over the last 30 days.
Bank of America Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BAC | CALL | SWEEP | BEARISH | 10/18/24 | $0.79 | $0.78 | $0.79 | $40.50 | $397.7K | 4.3K | 5.3K |
| BAC | PUT | SWEEP | BULLISH | 06/18/26 | $4.6 | $4.5 | $4.5 | $40.00 | $255.1K | 625 | 567 |
| BAC | PUT | SWEEP | BULLISH | 01/16/26 | $10.55 | $10.45 | $10.45 | $50.00 | $222.5K | 181 | 275 |
| BAC | PUT | SWEEP | BULLISH | 01/17/25 | $2.02 | $1.99 | $1.99 | $40.00 | $199.0K | 10.2K | 1.0K |
| BAC | PUT | TRADE | BEARISH | 06/20/25 | $1.33 | $1.3 | $1.33 | $35.00 | $99.7K | 41.0K | 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.
Where Is Bank of America Standing Right Now?
- Currently trading with a volume of 7,217,172, the BAC's price is up by 0.76%, now at $40.23.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 6 days.
What Analysts Are Saying About Bank of America
In the last month, 3 experts released ratings on this stock with an average target price of $47.333333333333336.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Oppenheimer has decided to maintain their Outperform rating on Bank of America, which currently sits at a price target of $49. * An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $46. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Bank of America, which currently sits at a price target of $47.
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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