This Is What Whales Are Betting On Bank of America

Financial giants have made a conspicuous bearish move on Bank of America. Our analysis of options history for Bank of America BAC revealed 9 unusual trades.

Delving into the details, we found 44% of traders were bullish, while 55% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $104,373, and 6 were calls, valued at $407,190.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $41.0 to $48.5 for Bank of America during the past quarter.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Bank of America's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Bank of America's significant trades, within a strike price range of $41.0 to $48.5, over the past month.

Bank of America Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

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.

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?

• Trading volume stands at 3,931,663, with BAC's price down by -1.48%, positioned at $46.38.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 1 days.

Expert Opinions on Bank of America

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $52.6.

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 Truist Securities keeps a Buy rating on Bank of America with a target price of $53. * Reflecting concerns, an analyst from Baird lowers its rating to Neutral with a new price target of $52. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Bank of America, targeting a price of $54. * Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for Bank of America, targeting a price of $53. * An analyst from HSBC downgraded its action to Hold with a price target of $51.

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.