A Closer Look at Bank of America's Options Market Dynamics

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 31 trades.

If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 54% with bearish.

From the overall spotted trades, 9 are puts, for a total amount of $546,168 and 22, calls, for a total amount of $1,156,549.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $20.0 and $40.0 for Bank of America, spanning the last three months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Bank of America stands at 23449.09, with a total volume reaching 38,901.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Bank of America, situated within the strike price corridor from $20.0 to $40.0, throughout the last 30 days.

Bank of America Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

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.

In light of the recent options history for Bank of America, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Bank of America

• With a volume of 27,267,587, the price of BAC is up 5.36% at $29.18.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 59 days.

What The Experts Say On Bank of America

In the last month, 3 experts released ratings on this stock with an average target price of $39.666666666666664.

• An analyst from Oppenheimer persists with their Outperform rating on Bank of America, maintaining a target price of $49.
• Showing optimism, an analyst from Keefe, Bruyette & Woods upgrades its rating to Market Perform with a revised price target of $30.
• Maintaining their stance, an analyst from BMO Capital continues to hold a Market Perform rating for Bank of America, targeting a price of $40.

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.