Financial giants have made a conspicuous bearish move on Bank of America. Our analysis of options history for Bank of America BAC revealed 13 unusual trades.
Delving into the details, we found 15% of traders were bullish, while 84% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $360,055, and 8 were calls, valued at $919,480.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $20.0 to $36.0 for Bank of America over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Bank of America stands at 24622.8, with a total volume reaching 5,843.00. 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 $36.0, throughout the last 30 days.
Bank of America Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BAC | CALL | SWEEP | BULLISH | 09/20/24 | $30.00 | $353.2K | 4.3K | 1.4K |
| BAC | CALL | SWEEP | BEARISH | 01/17/25 | $35.00 | $321.7K | 71.6K | 2.4K |
| BAC | PUT | SWEEP | BEARISH | 01/19/24 | $31.00 | $207.0K | 12.1K | 1.0K |
| BAC | CALL | SWEEP | BEARISH | 01/17/25 | $20.00 | $72.4K | 2.4K | 0 |
| BAC | PUT | TRADE | BEARISH | 03/15/24 | $36.00 | $59.4K | 115 | 100 |
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.
Following our analysis of the options activities associated with Bank of America, we pivot to a closer look at the company's own performance.
Where Is Bank of America Standing Right Now?
- Trading volume stands at 12,189,992, with BAC's price down by -0.14%, positioned at $29.52.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 45 days.
Expert Opinions on Bank of America
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $40.5.
- 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 Oppenheimer continues to hold a Outperform rating for Bank of America, targeting a price of $51.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Bank of America options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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