Financial giants have made a conspicuous bullish move on Bank of America. Our analysis of options history for Bank of America BAC revealed 51 unusual trades.
Delving into the details, we found 54% of traders were bullish, while 35% showed bearish tendencies. Out of all the trades we spotted, 15 were puts, with a value of $766,001, and 36 were calls, valued at $3,116,574.
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 $15.0 to $50.0 for Bank of America during the past quarter.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Bank of America options trades today is 7842.91 with a total volume of 50,519.00.
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 $15.0 to $50.0 over the last 30 days.
Bank of America Option Volume And Open Interest Over 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 | TRADE | BULLISH | 12/18/26 | $11.15 | $11.0 | $11.1 | $40.00 | $471.7K | 4.5K | 426 |
| BAC | CALL | TRADE | BULLISH | 11/15/24 | $2.25 | $2.11 | $2.25 | $44.00 | $387.9K | 22.3K | 4.6K |
| BAC | CALL | SWEEP | BULLISH | 05/16/25 | $4.35 | $4.25 | $4.32 | $45.00 | $217.3K | 1.2K | 583 |
| BAC | CALL | SWEEP | BULLISH | 03/21/25 | $3.1 | $3.0 | $3.1 | $46.00 | $186.0K | 2.9K | 609 |
| BAC | CALL | TRADE | BEARISH | 11/15/24 | $3.45 | $3.4 | $3.4 | $43.00 | $170.0K | 17.8K | 2.1K |
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.
Bank of America's Current Market Status
- Currently trading with a volume of 22,253,282, the BAC's price is up by 2.63%, now at $46.32.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 66 days.
Professional Analyst Ratings for Bank of America
5 market experts have recently issued ratings for this stock, with a consensus target price of $48.2.
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 Phillip Securities has elevated its stance to Accumulate, setting a new price target at $44. * 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 $45. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Bank of America, which currently sits at a price target of $48. * Showing optimism, an analyst from Citigroup upgrades its rating to Buy with a revised price target of $54. * Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Bank of America with a target price of $50.
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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