Behind the Scenes of Bank of America's Latest Options Trends

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 132 trades.

If we consider the specifics of each trade, it is accurate to state that 59% of the investors opened trades with bullish expectations and 37% with bearish.

From the overall spotted trades, 75 are puts, for a total amount of $6,910,848 and 57, calls, for a total amount of $7,447,285.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $18.0 to $50.0 for Bank of America over the recent three months.

Volume & Open Interest Development

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 $18.0 to $50.0 in the last 30 days.

Bank of America 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

About Bank of America

Bank of America is one of the largest financial institutions in the United States, with more than $3.2 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.

Bank of America's Current Market Status

• With a trading volume of 98,544,583, the price of BAC is up by 3.56%, reaching $35.62.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 8 days from now.

Expert Opinions on Bank of America

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $49.5.

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 Evercore ISI Group has decided to maintain their Outperform rating on Bank of America, which currently sits at a price target of $48. * Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Bank of America with a target price of $50. * An analyst from Morgan Stanley persists with their Equal-Weight rating on Bank of America, maintaining a target price of $56. * Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Bank of America with a target price of $50. * Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Bank of America, targeting a price of $43.

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.