Deep-pocketed investors have adopted a bullish 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 35 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 54% leaning bullish and 42% bearish. Among these notable options, 14 are puts, totaling $1,102,213, and 21 are calls, amounting to $1,127,054.
What's The Price Target?
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 $40.0 for Bank of America during the past quarter.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Bank of America's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Bank of America's substantial trades, within a strike price spectrum from $20.0 to $40.0 over the preceding 30 days.
Bank of America 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BAC | PUT | SWEEP | NEUTRAL | 11/15/24 | $2.03 | $2.01 | $2.02 | $37.00 | $424.4K | 2.7K | 0 |
| BAC | CALL | SWEEP | BULLISH | 05/17/24 | $7.55 | $7.45 | $7.55 | $31.00 | $242.2K | 3.1K | 322 |
| BAC | CALL | SWEEP | BULLISH | 06/21/24 | $9.5 | $9.4 | $9.4 | $29.00 | $127.8K | 193 | 136 |
| BAC | PUT | TRADE | BULLISH | 06/20/25 | $1.78 | $1.48 | $1.5 | $32.00 | $93.7K | 5.9K | 1.2K |
| BAC | PUT | TRADE | BEARISH | 06/20/25 | $1.51 | $1.48 | $1.5 | $32.00 | $93.7K | 5.9K | 626 |
About Bank of America
Bank of America is one of the largest financial institutions in the United States, with more than $3.0 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 US-focused.
Following our analysis of the options activities associated with Bank of America, we pivot to a closer look at the company's own performance.
Where Is Bank of America Standing Right Now?
- With a trading volume of 16,643,380, the price of BAC is down by -0.81%, reaching $38.06.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 83 days from now.
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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