Bank of America's Options: A Look at What the Big Money is Thinking

Whales with a lot of money to spend have taken a noticeably bullish stance on Bank of America.

Looking at options history for Bank of America BAC we detected 10 trades.

If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 40% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $887,357 and 5, calls, for a total amount of $810,387.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $25.0 to $34.0 for Bank of America over the recent three months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $25.0 to $34.0 in the last 30 days.

Bank of America Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

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.

Where Is Bank of America Standing Right Now?

• Currently trading with a volume of 8,508,761, the BAC's price is up by 0.12%, now at $33.08.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 69 days.

What The Experts Say On Bank of America

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $41.98.

• An analyst from BMO Capital persists with their Market Perform rating on Bank of America, maintaining a target price of $36.
• An analyst from Oppenheimer persists with their Outperform rating on Bank of America, maintaining a target price of $50.
• Reflecting concerns, an analyst from Odeon Capital lowers its rating to Hold with a new price target of $33.
• Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Bank of America, targeting a price of $49.
• An analyst from Morgan Stanley has elevated its stance to Overweight, setting a new price target at $41.

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.