Investors with a lot of money to spend have taken a bullish stance on Bank of America ( BAC ) .

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with BAC, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 14 uncommon options trades for Bank of America ( BAC ).

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $244,272, and 9 are calls, for a total amount of $859,639.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $39.0 to $47.0 for Bank of America ( BAC ) during the past quarter.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Bank of America ( BAC ) options trades today is 11098.62 with a total volume of 21,029.00.

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 $39.0 to $47.0 over the last 30 days.

Bank of America Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Bank of America

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.

Having examined the options trading patterns of Bank of America ( BAC ), our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Current Position of Bank of America

Currently trading with a volume of 33,725,228, the BAC's price is up by 0.84%, now at $44.76.

RSI readings suggest the stock is currently may be overbought.

Anticipated earnings release is in 61 days.

Professional Analyst Ratings for Bank of America

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $51.0.

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* Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Bank of America ( BAC ), targeting a price of $51.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Bank of America ( BAC ) with Benzinga Pro for real-time alerts.