Looking At Bank of America's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A whale has taken a bearish stance on Bank of America (NYSE:BAC), with 90% of recent unusual options activity being bearish. The total trade amounts are $584,190 for puts and $206,185 for calls. Whales have been targeting a price range of $20 to $40 for BAC over the last 3 months. Evercore ISI Group maintains an Outperform rating with a price target of $35.
June 02, 2023 | 1:47 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Bank of America has seen 90% bearish unusual options activity, with whales targeting a price range of $20 to $40. Evercore ISI Group maintains an Outperform rating with a price target of $35.
The bearish stance taken by a whale with a large amount of money to spend indicates a potential negative impact on Bank of America's stock price in the short term. The 90% bearish unusual options activity further supports this view. However, Evercore ISI Group's maintained Outperform rating and $35 price target suggest a positive outlook in the longer term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100