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 26 strange trades.
If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 53% with bearish.
From the overall spotted trades, 14 are puts, for a total amount of $722,655 and 12, calls, for a total amount of $982,492.
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 $20.0 to $65.0 for Bank of America over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Bank of America options trades today is 9240.16 with a total volume of 24,804.00.
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 big money trades within a strike price range of $20.0 to $65.0 over 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 | BULLISH | 06/17/22 | $35.00 | $598.5K | 11.6K | 2.9K |
| BAC | PUT | SWEEP | BEARISH | 06/17/22 | $36.00 | $111.0K | 6.5K | 798 |
| BAC | PUT | SWEEP | BULLISH | 06/17/22 | $65.00 | $78.0K | 728 | 88 |
| BAC | PUT | SWEEP | BULLISH | 06/17/22 | $65.00 | $72.3K | 728 | 56 |
| BAC | PUT | SWEEP | BEARISH | 06/17/22 | $37.00 | $71.1K | 31.2K | 357 |
Where Is Bank of America Standing Right Now?
- With a volume of 17,758,743, the price of BAC is down -3.28% at $36.22.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 65 days.
What The Experts Say On Bank of America:
- BMO Capital has decided to maintain their Market Perform rating on Bank of America, which currently sits at a price target of $46.
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.
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