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 9 trades.
If we consider the specifics of each trade, it is accurate to state that 55% of the investors opened trades with bullish expectations and 44% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $351,268 and 2, calls, for a total amount of $128,420.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $32.0 to $60.0 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 5699.0, with a total volume reaching 4,464.00. 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 $32.0 to $60.0, throughout the last 30 days.
Bank of America Option Activity Analysis: 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 | PUT | SWEEP | BULLISH | 01/17/25 | $0.62 | $0.6 | $0.6 | $45.00 | $90.0K | 3.8K | 1.5K |
| BAC | CALL | SWEEP | BULLISH | 01/17/25 | $16.0 | $15.85 | $16.0 | $32.00 | $80.0K | 21.1K | 50 |
| BAC | PUT | SWEEP | BEARISH | 01/17/25 | $2.21 | $2.17 | $2.2 | $49.00 | $50.6K | 1.1K | 679 |
| BAC | PUT | SWEEP | BEARISH | 02/21/25 | $2.6 | $2.53 | $2.6 | $49.00 | $50.1K | 305 | 194 |
| BAC | PUT | SWEEP | BEARISH | 01/17/25 | $2.23 | $2.18 | $2.22 | $49.00 | $50.1K | 1.1K | 225 |
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
Where Is Bank of America Standing Right Now?
- Currently trading with a volume of 3,021,732, the BAC's price is down by -0.01%, now at $47.77.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 48 days.
Professional Analyst Ratings for Bank of America
In the last month, 3 experts released ratings on this stock with an average target price of $55.333333333333336.
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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. * In a positive move, an analyst from Citigroup has upgraded their rating to Buy and adjusted the price target to $54. * An analyst from Wells Fargo has decided to maintain their Overweight rating on Bank of America, which currently sits at a price target of $56. * Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Bank of America with a target price of $56.
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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