Bank of America Unusual Options Activity For August 17
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been detected for Bank of America (NYSE:BAC), with a bearish stance being taken by a majority of investors. Of the 22 strange trades detected, 72% were bearish and 27% were bullish. The trades included 9 puts amounting to $559,277 and 13 calls amounting to $924,525. Whales have been targeting a price range from $20.0 to $40.0 for Bank of America over the last 3 months. The price of BAC is currently down -0.56% at $29.12. Analysts from Morgan Stanley, BMO Capital, and Oppenheimer have maintained their ratings on Bank of America.
August 17, 2023 | 7:30 pm
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NEGATIVE IMPACT
Bank of America has seen unusual options activity, with a majority of investors taking a bearish stance. The price of BAC is currently down -0.56% at $29.12.
The bearish stance taken by a majority of investors in the unusual options activity could potentially drive the price of BAC down in the short term. The current price is already down -0.56%.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100