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 50% of traders were bullish, while 44% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $381,663, and 13 were calls, valued at $515,136.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $28.0 to $43.5 for Bank of America over the recent three months.
Analyzing Volume & Open Interest
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 $28.0 to $43.5 in the last 30 days.
Bank of America Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BAC | PUT | SWEEP | BEARISH | 10/18/24 | $1.76 | $1.55 | $1.73 | $43.50 | $173.0K | 87 | 1.0K |
| BAC | PUT | SWEEP | BEARISH | 10/18/24 | $0.55 | $0.54 | $0.55 | $41.50 | $110.0K | 1.1K | 2.5K |
| BAC | CALL | TRADE | BULLISH | 01/17/25 | $14.3 | $14.15 | $14.25 | $28.00 | $85.5K | 18.3K | 60 |
| BAC | CALL | TRADE | BEARISH | 01/16/26 | $9.55 | $9.45 | $9.45 | $35.00 | $56.7K | 8.9K | 60 |
| BAC | CALL | TRADE | BULLISH | 10/18/24 | $0.43 | $0.42 | $0.43 | $43.00 | $43.0K | 34.8K | 1.3K |
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.
Following our analysis of the options activities associated with Bank of America, we pivot to a closer look at the company's own performance.
Current Position of Bank of America
- Currently trading with a volume of 8,794,046, the BAC's price is up by 0.23%, now at $42.05.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 1 days.
What Analysts Are Saying About Bank of America
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $47.333333333333336.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from RBC Capital downgraded its action to Outperform with a price target of $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. * An analyst from Oppenheimer persists with their Outperform rating on Bank of America, maintaining a target price of $49.
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.
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