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Behind the Scenes of Bank of America’s Latest Options Trends – Bank of America (NYSE:BAC)



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 41 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 56% bearish. Among these notable options, 8 are puts, totaling $352,540, and 33 are calls, amounting to $2,126,579.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $25.0 and $35.0 for Bank of America, spanning the last three months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Bank of America options trades today is 24966.39 with a total volume of 59,068.00.

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 $25.0 to $35.0 over the last 30 days.

Bank of America Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
BAC CALL TRADE NEUTRAL 02/16/24 $29.00 $262.5K 5.2K 504
BAC CALL TRADE NEUTRAL 03/15/24 $34.00 $150.8K 9.8K 3.2K
BAC CALL SWEEP BEARISH 03/15/24 $34.00 $148.1K 9.8K 4.8K
BAC CALL TRADE NEUTRAL 03/15/24 $34.00 $146.0K 9.8K 1.2K
BAC PUT SWEEP BEARISH 01/19/24 $33.00 $144.3K 23.8K 3.8K

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.

Present Market Standing of Bank of America

  • With a trading volume of 24,001,247, the price of BAC is up by 0.16%, reaching $33.73.
  • Current RSI values indicate that the stock is may be overbought.
  • Next earnings report is scheduled for 10 days from now.

Professional Analyst Ratings for 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 $40.47.

  • Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Bank of America with a target price of $43.
  • An analyst from Odeon Capital upgraded its action to Buy with a price target of $37.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Bank of America, Benzinga Pro gives you real-time options trades alerts.



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