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 12 trades.
If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 33% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $356,273 and 6, calls, for a total amount of $351,779.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $23.0 to $39.0 for Bank of America over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Bank of America stands at 17719.27, with a total volume reaching 5,450.00. 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 $23.0 to $39.0, throughout the last 30 days.
Bank of America Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BAC | CALL | SWEEP | NEUTRAL | 01/17/25 | $23.00 | $148.0K | 3.0K | 0 |
| BAC | PUT | TRADE | BULLISH | 01/17/25 | $35.00 | $81.6K | 42.6K | 399 |
| BAC | CALL | SWEEP | NEUTRAL | 01/16/26 | $25.00 | $81.6K | 7.6K | 62 |
| BAC | PUT | SWEEP | BULLISH | 08/16/24 | $38.00 | $81.4K | 591 | 334 |
| BAC | PUT | TRADE | BULLISH | 01/17/25 | $35.00 | $74.8K | 42.6K | 767 |
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.
After a thorough review of the options trading surrounding Bank of America, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Bank of America's Current Market Status
- With a trading volume of 11,363,306, the price of BAC is up by 0.11%, reaching $37.09.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 22 days from now.
What The Experts Say On Bank of America
In the last month, 3 experts released ratings on this stock with an average target price of $39.333333333333336.
- Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Bank of America with a target price of $39.
- An analyst from Piper Sandler has decided to maintain their Underweight rating on Bank of America, which currently sits at a price target of $33.
- An analyst from Oppenheimer persists with their Outperform rating on Bank of America, maintaining a target price of $46.
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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