Has my stock been accused of fraud?Join over 160k users who know.

Ticker Price Change($) Change(%) Shares Volume Prev Close Open Gain($) Gain(%)
Ticker Status Jurisdiction Filing Date CP Start CP End CP Loss Deadline
Ticker Case Name Status CP Start CP End Deadline Settlement Amt
Ticker Name Date Analyst Firm Up/Down Target ($) Rating Change Rating Current

News

Check Out What Whales Are Doing With BAC

Author: Benzinga Insights | August 08, 2024 02:09pm

Financial giants have made a conspicuous bearish move on Bank of America. Our analysis of options history for Bank of America (NYSE:BAC) revealed 21 unusual trades.

Delving into the details, we found 38% of traders were bullish, while 57% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $428,860, and 15 were calls, valued at $1,186,545.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $23.0 and $42.0 for Bank of America, spanning the last three months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $23.0 to $42.0 in the last 30 days.

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

Options Call Chart

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
BAC CALL SWEEP BEARISH 01/16/26 $8.7 $8.6 $8.6 $32.00 $257.1K 5.0K 300
BAC CALL SWEEP BEARISH 06/20/25 $7.95 $7.85 $7.85 $32.00 $233.9K 15.5K 299
BAC PUT SWEEP BEARISH 08/16/24 $0.37 $0.36 $0.37 $37.00 $182.0K 40.5K 5.1K
BAC CALL SWEEP BEARISH 09/19/25 $6.25 $6.15 $6.15 $35.00 $158.6K 302 21
BAC PUT TRADE BEARISH 08/16/24 $0.18 $0.17 $0.18 $36.00 $90.0K 20.7K 10.2K

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.

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.

Where Is Bank of America Standing Right Now?

  • Currently trading with a volume of 17,653,605, the BAC's price is up by 2.24%, now at $38.13.
  • RSI readings suggest the stock is currently may be approaching oversold.
  • Anticipated earnings release is in 68 days.

Expert Opinions on Bank of America

5 market experts have recently issued ratings for this stock, with a consensus target price of $44.4.

  • Reflecting concerns, an analyst from Keefe, Bruyette & Woods lowers its rating to Outperform with a new price target of $48.
  • Consistent in their evaluation, an analyst from BMO Capital keeps a Market Perform rating on Bank of America with a target price of $40.
  • An analyst from Morgan Stanley persists with their Overweight rating on Bank of America, maintaining a target price of $46.
  • Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Bank of America with a target price of $49.
  • An analyst from CFRA downgraded its action to Sell with a price target of $39.

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.

Posted In: BAC

CLASS ACTION DEADLINES - JOIN NOW!

NEW CASE INVESTIGATION

CORE Finalist