Bank of America Unusual Options Activity – Bank of America (NYSE:BAC)


Deep-pocketed investors have recently shown a bullish approach towards Bank of America (BAC), and this is something that market players should pay attention to. Public options records at Benzinga have revealed this significant move, although the identity of these investors remains unknown. However, such a substantial move in BAC usually suggests that something big is about to happen.

Benzinga’s options scanner highlighted 29 extraordinary options activities for Bank of America, which is out of the ordinary. Among these notable options, 72% of these heavyweight investors are leaning bullish, while 27% are bearish. These options include 18 puts totaling $723,833 and 11 calls amounting to $925,623.

Analyzing the volume and open interest in these contracts, it appears that the big players have been eyeing a price window from $20.0 to $40.0 for Bank of America during the past quarter. This indicates their predicted price range for the stock.

In today’s trading context, the average open interest for options of Bank of America stands at 18,299.0, with a total volume reaching 23,978.00. The progression of both call and put option volume and open interest for high-value trades in Bank of America, within the strike price corridor from $20.0 to $40.0, can be seen in the accompanying chart.

Bank of America is one of the largest financial institutions in the United States, with over $2.5 trillion in assets. It operates in four major segments: consumer banking, global wealth and investment management, global banking, and global markets. The company offers a range of consumer-facing services, including branches, lending products, credit cards, and small-business services. Its Merrill Lynch operations provide brokerage and wealth-management services, while its wholesale lines of business include investment banking and commercial real estate lending.

Currently, Bank of America is trading with a volume of 8,030,318, and its price is down by -0.39% at $30.73. RSI readings suggest that the stock may be approaching overbought levels, and its anticipated earnings release is in 31 days.

According to professional analysts, the average price target for Bank of America is $42.0, based on the opinions of two analysts in the last 30 days. Oppenheimer has maintained its Outperform rating with a price target of $51, while Goldman Sachs continues to have a Buy rating with a target price of $33.

Trading options involves risks but also offers the potential for higher profits. Traders can mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keeping up with the latest options trades for Bank of America can be done with Benzinga Pro for real-time alerts.

In conclusion, the recent bullish approach of deep-pocketed investors towards Bank of America indicates that something significant may be on the horizon. The predicted price range and options activities suggest that these investors have high expectations for the stock. However, it’s important for market players to conduct their own research and analysis before making any investment decisions.

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