27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
A whale with a lot of money to spend has taken a noticeably bearish stance on Bank of America.
Looking at options history for Bank of America (NYSE:BAC) we detected 30 strange trades.
If we consider the specifics of each trade, it is accurate to state that 30.0% of the investors opened trades with bullish expectations and 70.0% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $437,919.00 and 23, calls, for a total amount of $1,695,514.00.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $70.0 for Bank of America over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Bank of America options trades today is 27884.26 with a total volume of 15,885.00.
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 $25.0 to $70.0 over the last 30 days.
Bank of America Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BAC | CALL | SWEEP | BEARISH | 01/21/22 | $25.00 | $225.6K | 23.4K | 161 |
| BAC | CALL | SWEEP | BEARISH | 01/21/22 | $45.00 | $213.1K | 81.6K | 437 |
| BAC | CALL | TRADE | BEARISH | 01/21/22 | $46.00 | $163.0K | 9.5K | 1.2K |
| BAC | CALL | SWEEP | BEARISH | 01/20/23 | $55.00 | $101.0K | 48.7K | 2.0K |
| BAC | CALL | SWEEP | BEARISH | 01/20/23 | $55.00 | $101.0K | 48.7K | 859 |
Where Is Bank of America Standing Right Now?
- With a volume of 25,128,826.00, the price of BAC is down -0.6% at $45.48.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 51 days.
What The Experts Say On Bank of America:
- Baird downgraded its action to Underperform with a price target of $42.0
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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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