A whale with a lot of money to spend has taken a noticeably bearish stance on Bank of America.
Looking at options history for Bank of America (NYSE:BAC) we detected 17 strange trades.
If we consider the specifics of each trade, it is accurate to state that 0% of the investors opened trades with bullish expectations and 100% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $300,199 and 14, calls, for a total amount of $1,055,040.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $32.0 to $40.0 for Bank of America over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $32.0 to $40.0 in the last 30 days.
Bank of America Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BAC | CALL | SWEEP | BEARISH | 01/20/23 | $32.00 | $338.1K | 21.2K | 3.3K |
| BAC | PUT | SWEEP | BEARISH | 10/21/22 | $32.00 | $160.4K | 6.7K | 154 |
| BAC | CALL | TRADE | BEARISH | 01/20/23 | $32.00 | $114.7K | 21.2K | 2.4K |
| BAC | CALL | TRADE | BEARISH | 01/20/23 | $32.00 | $114.7K | 21.2K | 1.2K |
| BAC | CALL | TRADE | BEARISH | 01/20/23 | $32.00 | $114.7K | 21.2K | 546 |
Where Is Bank of America Standing Right Now?
- With a volume of 2,428,398, the price of BAC is down -1.35% at $33.26.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 72 days.
What The Experts Say On Bank of America:
- Societe Generale upgraded its action to Buy with a price target of $37
- RBC Capital has decided to maintain their Outperform rating on Bank of America, which currently sits at a price target of $40.
- Credit Suisse has decided to maintain their Outperform rating on Bank of America, which currently sits at a price target of $43.
- Barclays has decided to maintain their Overweight rating on Bank of America, which currently sits at a price target of $51.
- Morgan Stanley has decided to maintain their Equal-Weight rating on Bank of America, which currently sits at a price target of $40.
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.
