Financial giants have made a conspicuous bearish move on Banc of California. Our analysis of options history for Banc of California BANC revealed 8 unusual trades.
Delving into the details, we found 25% of traders were bullish, while 75% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $247,025, and 5 were calls, valued at $212,024.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $10.0 and $15.0 for Banc of California, spanning the last three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Banc of California's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Banc of California's significant trades, within a strike price range of $10.0 to $15.0, over the past month.
Banc of California 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BANC | PUT | SWEEP | NEUTRAL | 01/19/24 | $15.00 | $165.0K | 128 | 1.1K |
| BANC | CALL | TRADE | NEUTRAL | 01/19/24 | $10.00 | $76.0K | 238 | 200 |
| BANC | PUT | SWEEP | BEARISH | 03/15/24 | $15.00 | $49.5K | 17 | 41 |
| BANC | CALL | SWEEP | BULLISH | 01/19/24 | $12.50 | $47.0K | 726 | 5 |
| BANC | CALL | SWEEP | BEARISH | 06/21/24 | $15.00 | $38.4K | 56 | 328 |
About Banc of California
Banc of California Inc is a financial holding company. It offers banking and financial services. The company's services include banking services, lending services, and private banking services. Its deposit and banking product and service offerings include checking, savings, money market, certificates of deposit, and retirement accounts. Lending activities are focused on providing financing to California's diverse private businesses, entrepreneurs, and communities, and loans are often secured by California commercial and residential real estate.
Following our analysis of the options activities associated with Banc of California, we pivot to a closer look at the company's own performance.
Banc of California's Current Market Status
- With a trading volume of 2,386,797, the price of BANC is up by 3.69%, reaching $13.5.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 35 days from now.
Expert Opinions on Banc of California
1 market experts have recently issued ratings for this stock, with a consensus target price of $14.0.
- In a cautious move, an analyst from Truist Securities downgraded its rating to Hold, setting a price target of $14.
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 Banc of California with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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