20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Benzinga's options scanner just detected over 19 options trades for Bank of America (NYSE:BAC) summing a total amount of $1,049,124.
At the same time, our algo caught 8 for a total amount of 481,439.
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 $33.0 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 17123.0 with a total volume of 8,589.00.
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 $33.0 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 | 01/17/25 | $30.00 | $110.0K | 28.8K | 251 |
| BAC | CALL | TRADE | BULLISH | 09/15/23 | $30.00 | $108.5K | 37.6K | 1.4K |
| BAC | CALL | SWEEP | BULLISH | 09/15/23 | $30.00 | $99.5K | 37.6K | 307 |
| BAC | CALL | SWEEP | BULLISH | 10/20/23 | $30.00 | $90.7K | 7.8K | 459 |
| BAC | PUT | SWEEP | BULLISH | 03/15/24 | $33.00 | $87.6K | 3.8K | 645 |
Where Is Bank of America Standing Right Now?
- With a volume of 20,749,084, the price of BAC is up 1.42% at $31.75.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 71 days.
What The Experts Say On Bank of America:
- Morgan Stanley has decided to maintain their Equal-Weight rating on Bank of America, which currently sits at a price target of $34.
- BMO Capital has decided to maintain their Market Perform rating on Bank of America, which currently sits at a price target of $40.
- Oppenheimer has decided to maintain their Outperform rating on Bank of America, which currently sits at a price target of $52.
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.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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