Deep-pocketed investors have adopted a bearish 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 16 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 43% leaning bullish and 50% bearish. Among these notable options, 6 are puts, totaling $321,865, and 10 are calls, amounting to $415,148.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $23.0 to $49.0 for Bank of America during the past quarter.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Bank of America's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Bank of America's whale activity within a strike price range from $23.0 to $49.0 in the last 30 days.
Bank of America Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BAC | CALL | TRADE | BEARISH | 12/13/24 | $0.29 | $0.28 | $0.28 | $46.50 | $80.5K | 3.3K | 13.9K |
| BAC | PUT | SWEEP | BEARISH | 02/21/25 | $2.28 | $2.24 | $2.28 | $47.00 | $68.3K | 4.4K | 905 |
| BAC | PUT | TRADE | BULLISH | 01/16/26 | $0.29 | $0.26 | $0.27 | $23.00 | $67.5K | 17.6K | 2.5K |
| BAC | CALL | SWEEP | BULLISH | 01/17/25 | $13.15 | $13.05 | $13.15 | $33.00 | $59.1K | 925 | 0 |
| BAC | PUT | SWEEP | BEARISH | 02/21/25 | $2.26 | $2.23 | $2.26 | $47.00 | $56.5K | 4.4K | 255 |
About Bank of America
Bank of America is one of the largest financial institutions in the United States, with more than $3.0 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 US-focused.
Bank of America's Current Market Status
- With a volume of 14,077,143, the price of BAC is down -0.22% at $45.81.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 37 days.
Expert Opinions on Bank of America
In the last month, 4 experts released ratings on this stock with an average target price of $54.5.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Piper Sandler persists with their Neutral rating on Bank of America, maintaining a target price of $50. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Bank of America, targeting a price of $56. * Maintaining their stance, an analyst from Keefe, Bruyette & Woods continues to hold a Outperform rating for Bank of America, targeting a price of $57. * Reflecting concerns, an analyst from Morgan Stanley lowers its rating to Equal-Weight with a new price target of $55.
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