Investors with a lot of money to spend have taken a bullish stance on Bank of America BAC.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with BAC, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 17 uncommon options trades for Bank of America.
This isn't normal.
The overall sentiment of these big-money traders is split between 64% bullish and 35%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $131,350, and 15 are calls, for a total amount of $810,953.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $37.0 to $50.0 for Bank of America over the recent three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Bank of America's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Bank of America's whale trades within a strike price range from $37.0 to $50.0 in the last 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 | PUT | TRADE | BULLISH | 10/18/24 | $0.9 | $0.89 | $0.89 | $40.00 | $102.3K | 11.2K | 1.3K |
| BAC | CALL | SWEEP | BEARISH | 12/20/24 | $3.2 | $3.1 | $3.1 | $39.00 | $74.0K | 5.3K | 478 |
| BAC | CALL | SWEEP | BULLISH | 09/20/24 | $3.6 | $3.5 | $3.56 | $37.00 | $71.2K | 788 | 208 |
| BAC | CALL | SWEEP | BEARISH | 11/15/24 | $2.83 | $2.81 | $2.81 | $39.00 | $60.6K | 12.1K | 1.6K |
| BAC | CALL | TRADE | BULLISH | 11/15/24 | $2.88 | $2.85 | $2.87 | $39.00 | $60.2K | 12.1K | 2.0K |
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
- With a volume of 15,525,512, the price of BAC is down -0.92% at $40.49.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 25 days.
Professional Analyst Ratings for Bank of America
1 market experts have recently issued ratings for this stock, with a consensus target price of $45.0.
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If you want to stay updated on the latest options trades for Bank of America, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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