Looking At Bank of America's Recent Unusual Options Activity

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

Looking at options history for Bank of America BAC we detected 13 trades.

If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 53% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $390,953 and 7, calls, for a total amount of $436,390.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $20.0 to $42.0 for Bank of America over the recent three months.

Insights into 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 $20.0 to $42.0 in the last 30 days.

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

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
BAC CALL SWEEP BULLISH 11/15/24 $5.1 $5.05 $5.1 $35.00 $125.9K 4.4K 300
BAC CALL TRADE BEARISH 01/17/25 $11.35 $11.3 $11.3 $28.00 $113.0K 20.0K 100
BAC PUT SWEEP BEARISH 06/21/24 $0.43 $0.42 $0.43 $37.00 $105.8K 20.7K 2.4K
BAC PUT SWEEP BEARISH 07/19/24 $1.18 $1.16 $1.18 $38.00 $76.7K 2.6K 652
BAC PUT SWEEP BEARISH 09/20/24 $4.1 $4.05 $4.1 $42.00 $62.7K 155 147

About Bank of America

Bank of America is one of the largest financial institutions in the United States, with more than $3.0 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 US-focused.

Where Is Bank of America Standing Right Now?

  • With a trading volume of 7,321,838, the price of BAC is up by 1.14%, reaching $38.65.
  • Current RSI values indicate that the stock is may be overbought.
  • Next earnings report is scheduled for 63 days from now.

Expert Opinions on Bank of America

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $42.1.

  • An analyst from Wolfe Research has elevated its stance to Outperform, setting a new price target at $42.
  • Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Bank of America, targeting a price of $46.
  • An analyst from JP Morgan persists with their Overweight rating on Bank of America, maintaining a target price of $40.
  • An analyst from BMO Capital persists with their Market Perform rating on Bank of America, maintaining a target price of $37.
  • An analyst from Oppenheimer persists with their Outperform rating on Bank of America, maintaining a target price of $45.

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.

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Posted In: OptionsMarketsBZI-UOA
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