Looking At Bank of America's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bullish stance has been taken on Bank of America (NYSE:BAC) as evidenced by unusual options activity. The sentiment among these big-money traders is 78% bullish and 21% bearish. The whales have been targeting a price range from $20.0 to $50.0 for Bank of America over the last 3 months. Citigroup has maintained their Neutral rating on Bank of America with a price target of $31, while RBC Capital has downgraded its action to Outperform with a price target of $35.
July 03, 2023 | 3:21 pm
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Unusual options activity indicates a bullish stance on Bank of America. The sentiment among big-money traders is 78% bullish. Citigroup maintains a Neutral rating with a price target of $31, while RBC Capital has downgraded its action to Outperform with a price target of $35.
The unusual options activity, with a majority being bullish, indicates that there is a positive sentiment towards Bank of America. This, coupled with the price targets set by Citigroup and RBC Capital, suggests a potential increase in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100