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 11 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 18% leaning bullish and 81% bearish. Among these notable options, 7 are puts, totaling $342,835, and 4 are calls, amounting to $315,220.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $34.0 to $41.0 for Bank of America during the past quarter.
Insights into Volume & Open Interest
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 $34.0 to $41.0 over the preceding 30 days.
Bank of America Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BAC | CALL | TRADE | BULLISH | 02/21/25 | $5.85 | $5.8 | $5.85 | $35.00 | $151.5K | 407 | 300 |
| BAC | CALL | SWEEP | BULLISH | 03/21/25 | $6.95 | $6.85 | $6.95 | $34.00 | $110.5K | 1 | 1 |
| BAC | PUT | SWEEP | BEARISH | 12/20/24 | $2.75 | $2.7 | $2.75 | $41.00 | $50.3K | 1.4K | 195 |
| BAC | PUT | SWEEP | BEARISH | 12/20/24 | $2.75 | $2.7 | $2.74 | $41.00 | $50.2K | 1.4K | 195 |
| BAC | PUT | SWEEP | BEARISH | 11/15/24 | $2.46 | $2.43 | $2.46 | $41.00 | $49.2K | 3.0K | 200 |
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.
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.
Present Market Standing of Bank of America
- Trading volume stands at 1,472,951, with BAC's price up by 1.1%, positioned at $39.53.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 28 days.
Expert Opinions on Bank of America
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $45.0.
- An analyst from Deutsche Bank upgraded its action to Buy with a price target of $45.
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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