Unpacking the Latest Options Trading Trends in Bank of America

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 positions 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.

Today, Benzinga's options scanner spotted 14 options trades for Bank of America.

This isn't normal.

The overall sentiment of these big-money traders is split between 57% bullish and 35%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $36,000, and 13, calls, for a total amount of $736,911.

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 $35.0 to $55.0 for Bank of America during the past quarter.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Bank of America options trades today is 13131.33 with a total volume of 6,781.00.

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 $35.0 to $55.0 over the last 30 days.

Bank of America 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About Bank of America

Bank of America is one of the largest financial institutions in the United States, with more than $3.2 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.

Where Is Bank of America Standing Right Now?

• With a volume of 7,595,428, the price of BAC is up 2.38% at $40.62.
• RSI indicators hint that the underlying stock may be oversold.
• Next earnings are expected to be released in 32 days.

What The Experts Say On Bank of America

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $50.0.

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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.