Whales with a lot of money to spend have taken a noticeably bearish stance on Bank of America.
Looking at options history for Bank of America BAC we detected 31 trades.
If we consider the specifics of each trade, it is accurate to state that 38% of the investors opened trades with bullish expectations and 58% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $219,025 and 27, calls, for a total amount of $2,141,226.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $32.0 to $65.0 for Bank of America over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Bank of America options trades today is 8547.44 with a total volume of 33,818.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Bank of America's big money trades within a strike price range of $32.0 to $65.0 over the last 30 days.
Bank of America 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BAC | CALL | SWEEP | BEARISH | 01/17/25 | $13.4 | $13.35 | $13.35 | $32.00 | $213.6K | 21.8K | 1.0K |
| BAC | CALL | SWEEP | BULLISH | 01/17/25 | $13.35 | $13.35 | $13.35 | $32.00 | $200.2K | 21.8K | 419 |
| BAC | CALL | SWEEP | BULLISH | 01/17/25 | $13.35 | $13.35 | $13.35 | $32.00 | $192.2K | 21.8K | 0 |
| BAC | CALL | TRADE | BEARISH | 01/17/25 | $3.9 | $3.8 | $3.84 | $42.00 | $192.0K | 28.7K | 537 |
| BAC | CALL | SWEEP | BEARISH | 01/17/25 | $13.4 | $13.35 | $13.35 | $32.00 | $160.2K | 21.8K | 269 |
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.
Having examined the options trading patterns of Bank of America, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Bank of America
- Trading volume stands at 23,385,314, with BAC's price down by -1.04%, positioned at $44.94.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 70 days.
Expert Opinions on Bank of America
5 market experts have recently issued ratings for this stock, with a consensus target price of $48.6.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Bank of America with a target price of $56. * Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Bank of America with a target price of $48. * Showing optimism, an analyst from Phillip Securities upgrades its rating to Accumulate with a revised price target of $44. * An analyst from Keefe, Bruyette & Woods has decided to maintain their Outperform rating on Bank of America, which currently sits at a price target of $50. * An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Bank of America, which currently sits at a price target of $45.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Bank of America with Benzinga Pro for real-time alerts.
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