Financial giants have made a conspicuous bullish move on Bank of America. Our analysis of options history for Bank of America BAC revealed 9 unusual trades.
Delving into the details, we found 77% of traders were bullish, while 22% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $227,098, and 5 were calls, valued at $367,155.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $39.0 to $47.0 for Bank of America over the recent three months.
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 $39.0 to $47.0 over the preceding 30 days.
Bank of America Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BAC | CALL | SWEEP | BULLISH | 01/16/26 | $6.65 | $5.65 | $6.65 | $42.00 | $201.4K | 4.1K | 36 |
| BAC | PUT | SWEEP | BULLISH | 06/20/25 | $2.99 | $2.96 | $2.98 | $42.00 | $76.2K | 7.1K | 0 |
| BAC | PUT | SWEEP | BULLISH | 01/17/25 | $5.1 | $5.05 | $5.05 | $47.00 | $66.6K | 787 | 1 |
| BAC | PUT | SWEEP | BULLISH | 01/17/25 | $5.1 | $5.05 | $5.05 | $47.00 | $55.5K | 787 | 1 |
| BAC | CALL | SWEEP | BULLISH | 07/19/24 | $4.5 | $4.4 | $4.5 | $39.00 | $49.0K | 10.5K | 19 |
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?
- Trading volume stands at 8,204,661, with BAC's price up by 0.85%, positioned at $43.38.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 88 days.
What Analysts Are Saying About Bank of America
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $45.2.
- Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Bank of America, targeting a price of $46.
- An analyst from Barclays has decided to maintain their Overweight rating on Bank of America, which currently sits at a price target of $49.
- Showing optimism, an analyst from Seaport Global upgrades its rating to Buy with a revised price target of $48.
- Showing optimism, an analyst from Piper Sandler upgrades its rating to Neutral with a revised price target of $42.
- Consistent in their evaluation, an analyst from Jefferies keeps a Hold rating on Bank of America with a target price of $41.
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.
Comments
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
