Financial giants have made a conspicuous bearish move on Bank of America. Our analysis of options history for Bank of America BAC revealed 15 unusual trades.
Delving into the details, we found 26% of traders were bullish, while 73% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $121,415, and 12 were calls, valued at $462,552.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $20.0 and $35.0 for Bank of America, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Bank of America stands at 13038.89, with a total volume reaching 3,571.00. 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 $20.0 to $35.0, throughout the last 30 days.
Bank of America 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BAC | CALL | SWEEP | BEARISH | 01/26/24 | $32.50 | $91.0K | 12.4K | 1.0K |
| BAC | CALL | TRADE | BULLISH | 06/21/24 | $20.00 | $46.5K | 1.7K | 35 |
| BAC | CALL | SWEEP | BEARISH | 02/02/24 | $31.00 | $43.9K | 661 | 222 |
| BAC | PUT | TRADE | BEARISH | 02/23/24 | $35.00 | $40.5K | 911 | 404 |
| BAC | PUT | SWEEP | BEARISH | 01/17/25 | $35.00 | $40.4K | 38.8K | 36 |
About Bank of America
Bank of America is one of the largest financial institutions in the United States, with more than $2.5 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 U.S.-focused.
Where Is Bank of America Standing Right Now?
- With a volume of 9,048,552, the price of BAC is up 0.82% at $33.04.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 83 days.
What Analysts Are Saying About Bank of America
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $40.475.
- An analyst from Barclays has decided to maintain their Overweight rating on Bank of America, which currently sits at a price target of $43.
- An analyst from Oppenheimer has decided to maintain their Outperform rating on Bank of America, which currently sits at a price target of $49.
- An analyst from Odeon Capital downgraded its action to Hold with a price target of $33.
- An analyst from BMO Capital persists with their Market Perform rating on Bank of America, maintaining a target price of $36.
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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