Financial giants have made a conspicuous bearish move on Bank of America. Our analysis of options history for Bank of America BAC revealed 29 unusual trades.
Delving into the details, we found 24% of traders were bullish, while 75% showed bearish tendencies. Out of all the trades we spotted, 17 were puts, with a value of $838,901, and 12 were calls, valued at $1,126,206.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $23.0 to $35.0 for Bank of America over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Bank of America stands at 26263.41, with a total volume reaching 24,341.00. 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 $23.0 to $35.0, throughout the last 30 days.
Bank of America Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BAC | CALL | TRADE | BULLISH | 03/15/24 | $25.00 | $291.5K | 2.5K | 491 |
| BAC | CALL | SWEEP | BULLISH | 06/21/24 | $35.00 | $200.2K | 52.3K | 2.7K |
| BAC | PUT | TRADE | BULLISH | 12/15/23 | $30.00 | $197.4K | 22.7K | 2.5K |
| BAC | CALL | SWEEP | BULLISH | 12/15/23 | $31.00 | $133.1K | 50.9K | 6.4K |
| BAC | PUT | TRADE | BEARISH | 01/19/24 | $30.00 | $126.1K | 98.5K | 1.6K |
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.
Bank of America's Current Market Status
- Currently trading with a volume of 12,537,650, the BAC's price is up by 0.74%, now at $30.71.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 42 days.
What The Experts Say On Bank of America
3 market experts have recently issued ratings for this stock, with a consensus target price of $38.0.
- Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Bank of America, targeting a price of $51.
- An analyst from Goldman Sachs has decided to maintain their Buy rating on Bank of America, which currently sits at a price target of $33.
- An analyst from Keefe, Bruyette & Woods has elevated its stance to Market Perform, setting a new price target at $30.
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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