Bank of America Unusual Options Activity For May 23
Portfolio Pulse from Benzinga Insights
Unusual options activity has been observed for Bank of America (NYSE:BAC) with 12 options trades spotted, 75% of which are bearish. Whales have been targeting a price range of $25.0 to $28.0 for BAC over the last 3 months. Evercore ISI Group maintains an Outperform rating with a price target of $35.
May 23, 2023 | 3:16 pm
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NEGATIVE IMPACT
Bank of America (NYSE:BAC) experiences unusual options activity with 75% bearish sentiment. Whales target a price range of $25.0 to $28.0, while Evercore ISI Group maintains an Outperform rating and a $35 price target.
The unusual options activity with 75% bearish sentiment indicates that there may be a short-term negative impact on BAC's stock price. However, Evercore ISI Group's maintained Outperform rating and $35 price target suggest a positive long-term outlook. The short-term impact is likely to be negative due to the high percentage of bearish sentiment among the observed options trades.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100