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 20% of traders were bullish, while 73% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $318,648, and 7 were calls, valued at $486,600.
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 $37.0 and $50.0 for Bank of America, spanning the last three months.
Analyzing 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 $37.0 to $50.0, over the past month.
Bank of America Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BAC | CALL | TRADE | NEUTRAL | 03/21/25 | $0.7 | $0.68 | $0.69 | $50.00 | $179.3K | 4.6K | 2.6K |
| BAC | CALL | SWEEP | BULLISH | 01/17/25 | $3.25 | $3.2 | $3.25 | $40.00 | $88.4K | 64.0K | 517 |
| BAC | CALL | SWEEP | BEARISH | 07/26/24 | $1.9 | $1.86 | $1.86 | $39.00 | $65.6K | 2 | 355 |
| BAC | CALL | SWEEP | BULLISH | 06/14/24 | $0.67 | $0.65 | $0.67 | $39.00 | $63.6K | 2.5K | 1.0K |
| BAC | PUT | SWEEP | BEARISH | 01/17/25 | $1.63 | $1.62 | $1.63 | $37.00 | $57.0K | 27.9K | 361 |
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.
Present Market Standing of Bank of America
- Currently trading with a volume of 18,074,712, the BAC's price is up by 0.05%, now at $39.8.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 36 days.
What Analysts Are Saying About Bank of America
1 market experts have recently issued ratings for this stock, with a consensus target price of $37.0.
- An analyst from Piper Sandler has decided to maintain their Underweight rating on Bank of America, which currently sits at a price target of $37.
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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