Deep-pocketed investors have adopted a bullish approach towards Bank of America BAC, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in BAC usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Bank of America. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 63% leaning bullish and 36% bearish. Among these notable options, 2 are puts, totaling $1,050,890, and 9 are calls, amounting to $419,503.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $30.0 to $42.0 for Bank of America over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Bank of America options trades today is 21425.75 with a total volume of 26,453.00.
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 $30.0 to $42.0 over 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 | PUT | SWEEP | BEARISH | 01/17/25 | $30.00 | $1.0M | 76.8K | 2 |
| BAC | CALL | SWEEP | BEARISH | 03/15/24 | $38.00 | $87.9K | 11.1K | 8.0K |
| BAC | CALL | SWEEP | BULLISH | 12/20/24 | $35.00 | $53.5K | 1.3K | 182 |
| BAC | PUT | TRADE | BEARISH | 06/20/25 | $42.00 | $45.7K | 420 | 53 |
| BAC | CALL | SWEEP | BULLISH | 03/15/24 | $37.00 | $45.0K | 21.2K | 8.7K |
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.
Bank of America's Current Market Status
- With a volume of 2,537,062, the price of BAC is down -0.03% at $34.0.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 75 days.
Expert Opinions on Bank of America
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $41.98.
- An analyst from Oppenheimer persists with their Outperform rating on Bank of America, maintaining a target price of $50.
- An analyst from BMO Capital persists with their Market Perform rating on Bank of America, maintaining a target price of $36.
- Showing optimism, an analyst from Morgan Stanley upgrades its rating to Overweight with a revised price target of $41.
- An analyst from Odeon Capital has revised its rating downward to Hold, adjusting the price target to $33.
- Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Bank of America with a target price of $49.
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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