Bank of America's Options Frenzy: What You Need to Know

Deep-pocketed investors have adopted a bearish approach towards Bank of America BAC, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in BAC usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 20 extraordinary options activities for Bank of America. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 40% leaning bullish and 60% bearish. Among these notable options, 3 are puts, totaling $393,335, and 17 are calls, amounting to $1,113,008.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $20.0 to $50.0 for Bank of America during the past quarter.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Bank of America's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Bank of America's significant trades, within a strike price range of $20.0 to $50.0, over the past month.

Bank of America Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

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.

In light of the recent options history for Bank of America, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is Bank of America Standing Right Now?

• Currently trading with a volume of 5,938,939, the BAC's price is down by -0.22%, now at $35.88.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 34 days.

What Analysts Are Saying About Bank of America

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $33.0.

• Consistent in their evaluation, an analyst from Piper Sandler keeps a Underweight rating on Bank of America with a target price of $33.

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.