Benzinga's options scanner just detected over 8 options trades for Bank of America BAC summing a total amount of $359,365.
At the same time, our algo caught 6 for a total amount of 301,465.
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 $30.0 to $33.0 for Bank of America over the last 3 months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Bank of America's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Bank of America's whale activity within a strike price range from $30.0 to $33.0 in the last 30 days.
Bank of America 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BAC | PUT | SWEEP | BULLISH | 04/19/24 | $33.00 | $64.9K | 9.2K | 1.4K |
| BAC | PUT | SWEEP | BULLISH | 04/19/24 | $33.00 | $61.3K | 9.2K | 305 |
| BAC | PUT | SWEEP | BULLISH | 04/19/24 | $33.00 | $60.1K | 9.2K | 1.1K |
| BAC | PUT | SWEEP | BULLISH | 04/19/24 | $33.00 | $48.8K | 9.2K | 1.7K |
| BAC | PUT | SWEEP | BULLISH | 04/19/24 | $33.00 | $33.1K | 9.2K | 805 |
About Bank of America
Bank of America is one of the largest financial institutions in the United States, with more than $2.5 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 U.S.-focused.
Having examined the options trading patterns of Bank of America, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Bank of America
- Currently trading with a volume of 643,686, the BAC's price is down by -0.1%, now at $31.77.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 89 days.
Professional Analyst Ratings for Bank of America
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $40.475.
- An analyst from BMO Capital persists with their Market Perform rating on Bank of America, maintaining a target price of $36.
- Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Bank of America with a target price of $43.
- An analyst from Oppenheimer persists with their Outperform rating on Bank of America, maintaining a target price of $49.
- An analyst from Odeon Capital has revised its rating downward to Hold, adjusting the price target to $33.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Bank of America with Benzinga Pro for real-time alerts.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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