TD Ameritrade Chief Strategist JJ Kinahan Says Bank Of America $50 Oil Prediction Is Possible, Not Probable

JJ Kinahan, chief strategist at TD Ameritrade, told Benzinga that he thinks the Bank of America Corp BAC forecast for oil at $50 per barrel in the next few months is “in the realm of possibilities, but not highly probable.”

He cited the crude march expiration. According to what the options are pricing in, Kinahan said there’s about a 31 percent chance oil will reach that level.

“We can get down there, but I don’t imagine it’s going to be one huge washout,” he said. “You don’t see that kind of move normally.”