Looking At Bank of America's Recent Unusual Options Activity

Benzinga's options scanner just detected over 11 options trades for Bank of America BAC summing a total amount of $365,861.

At the same time, our algo caught 2 for a total amount of 121,599.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $20.0 to $33.0 for Bank of America over the last 3 months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Bank of America options trades today is 14933.43 with a total volume of 17,951.00.

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 $20.0 to $33.0 over the last 30 days.

Bank of America Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

Current Position of Bank of America

• Trading volume stands at 4,537,144, with BAC's price up 0.14%, positioned at $28.2. RSI indicators show the stock to be may be approaching overbought. Earnings announcement expected in 65 days.

What The Experts Say On Bank of America:

• BMO Capital persists with their Market Perform rating on Bank of America, maintaining a target price of $40.
• Oppenheimer has decided to maintain their Outperform rating on Bank of America, which currently sits at a price target of $49.
• Showing optimism, Keefe, Bruyette & Woods upgrades its rating to Market Perform with a revised price target of $30.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Bank of America, Benzinga Pro gives you real-time options trades alerts.