Looking At Bank of America's Recent Unusual Options Activity

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 BAC we detected 18 strange trades.

If we consider the specifics of each trade, it is accurate to state that 38% of the investors opened trades with bullish expectations and 61% with bearish.

From the overall spotted trades, 10 are puts, for a total amount of $632,765 and 8, calls, for a total amount of $565,890.

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 $32.0 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 9078.5 with a total volume of 51,113.00.

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 $32.0 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 PUT SWEEP BULLISH 10/20/23 $27.50 $307.5K 19.0K 2.2K
BAC CALL SWEEP BEARISH 10/20/23 $27.00 $150.0K 36.1K 2.6K
BAC CALL SWEEP BULLISH 12/15/23 $28.00 $97.2K 10.8K 4.8K
BAC CALL SWEEP BULLISH 12/15/23 $28.00 $94.3K 10.8K 5.9K
BAC CALL SWEEP BULLISH 12/15/23 $28.00 $91.0K 10.8K 3.7K

Where Is Bank of America Standing Right Now?

  • With a volume of 13,550,790, the price of BAC is up 0.68% at $27.5.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 85 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 $48.
  • Oppenheimer has decided to maintain their Outperform rating on Bank of America, which currently sits at a price target of $49.
  • Morgan Stanley has decided to maintain their Equal-Weight rating on Bank of America, which currently sits at a price target of $32.
  • BMO Capital has decided to maintain their Market Perform rating on Bank of America, which currently sits at a price target of $40.

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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