Whales with a lot of money to spend have taken a noticeably bearish stance on Bank of America ( BAC ).
Looking at options history for Bank of America ( BAC ) we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 75% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $204,249 and 5, calls, for a total amount of $342,920.
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $38.0 to $52.5 for Bank of America ( BAC ) during the past quarter.
In terms of liquidity and interest, the mean open interest for Bank of America ( BAC ) options trades today is 4662.25 with a total volume of 698.00.
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 ( BAC ) big money trades within a strike price range of $38.0 to $52.5 over the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BAC | PUT | SWEEP | BEARISH | 219 | 144 | ||||||
| BAC | CALL | SWEEP | BULLISH | 847 | 174 | ||||||
| BAC | CALL | TRADE | BULLISH | 19.5K | 158 | ||||||
| BAC | CALL | TRADE | BEARISH | 172 | 100 | ||||||
| BAC | PUT | SWEEP | BEARISH | 11.9K | 122 |
Bank of America ( BAC ) is one of the largest financial institutions in the United States, with more than $3.2 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 ( BAC ) 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 ( BAC ) has operations in several countries but is primarily US-focused.
Following our analysis of the options activities associated with Bank of America ( BAC ), we pivot to a closer look at the company's own performance.
With a trading volume of 1,869,767, the price of BAC is up by 0.41%, reaching $43.24.
Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
Next earnings report is scheduled for 21 days from now.
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $50.0.
Unusual Options Activity Detected: Smart Money on the Move
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* Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Bank of America ( BAC ) with a target price of $50.
* An analyst from Baird upgraded its action to Outperform with a price target of $50.
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 ( BAC ), Benzinga Pro gives you real-time options trades alerts.
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