27% profit every 20 days?
This is what Nic Chahine averages with his option 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 17 strange trades.
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If we consider the specifics of each trade, it is accurate to state that 29% of the investors opened trades with bullish expectations and 70% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $299,813 and 11, calls, for a total amount of $424,570.
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 $15.0 to $38.0 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 15001.0 with a total volume of 5,526.00.
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 $15.0 to $38.0 over the last 30 days.
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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 | PUT | SWEEP | BULLISH | 01/19/24 | $35.00 | $122.1K | 67.0K | 303 |
| BAC | CALL | SWEEP | BEARISH | 09/15/23 | $38.00 | $97.4K | 4.2K | 550 |
| BAC | CALL | SWEEP | BULLISH | 01/27/23 | $34.00 | $42.0K | 3.8K | 492 |
| BAC | PUT | SWEEP | BEARISH | 02/17/23 | $35.00 | $40.0K | 3.7K | 201 |
| BAC | CALL | SWEEP | NEUTRAL | 01/19/24 | $35.00 | $39.9K | 49.7K | 129 |
Where Is Bank of America Standing Right Now?
- With a volume of 15,607,926, the price of BAC is up 0.74% at $34.14.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 3 days.
What The Experts Say On Bank of America:
- Oppenheimer has decided to maintain their Outperform rating on Bank of America, which currently sits at a price target of $51.
- Deutsche Bank downgraded its action to Hold with a price target of $36
- Barclays has decided to maintain their Overweight rating on Bank of America, which currently sits at a price target of $48.
- Morgan Stanley has decided to maintain their Equal-Weight rating on Bank of America, which currently sits at a price target of $37.
- Odeon Capital upgraded its action to Buy with a price target of $38
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.
27% profit every 20 days?
This is what Nic Chahine averages with his option 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.