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 34 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 61% with bearish.
From the overall spotted trades, 11 are puts, for a total amount of $991,182 and 23, calls, for a total amount of $1,983,979.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $39.0 and $55.0 for Bank of America, spanning the last 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 $55.0 over the preceding 30 days.
Bank of America 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BAC | PUT | SWEEP | BEARISH | 01/16/26 | $1.89 | $1.85 | $1.89 | $40.00 | $472.7K | 27.2K | 497 |
| BAC | CALL | SWEEP | BEARISH | 12/20/24 | $1.25 | $1.22 | $1.24 | $47.00 | $368.0K | 30.8K | 5.2K |
| BAC | CALL | SWEEP | BEARISH | 12/20/24 | $1.24 | $1.21 | $1.23 | $47.00 | $256.7K | 30.8K | 11.7K |
| BAC | CALL | SWEEP | BEARISH | 12/20/24 | $1.23 | $1.22 | $1.22 | $47.00 | $155.4K | 30.8K | 4.7K |
| BAC | CALL | SWEEP | BULLISH | 12/20/24 | $0.58 | $0.56 | $0.58 | $48.50 | $120.2K | 1.9K | 10.6K |
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?
- With a volume of 13,458,434, the price of BAC is up 0.87% at $47.41.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 52 days.
What Analysts Are Saying About Bank of America
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $55.333333333333336.
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. * An analyst from Wells Fargo persists with their Overweight rating on Bank of America, maintaining a target price of $56. * An analyst from Oppenheimer persists with their Outperform rating on Bank of America, maintaining a target price of $56. * Showing optimism, an analyst from Citigroup upgrades its rating to Buy with a revised price target of $54.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
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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