Bank of America Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Bank of America (BAC) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split, with 40% bullish and 60% bearish. The whales have been targeting a price range from $29.0 to $31.0 for BAC over the last 3 months. Analysts from Oppenheimer and Wells Fargo maintain their Outperform and Overweight ratings on BAC, respectively, with price targets of $49 and $40.
August 29, 2023 | 3:01 pm
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Unusual options activity indicates a significant bearish stance on Bank of America (BAC). The sentiment among big-money traders is split, with 40% bullish and 60% bearish. Analysts from Oppenheimer and Wells Fargo maintain positive ratings on BAC.
The unusual options activity, with a significant bearish stance, indicates that there may be a negative short-term impact on BAC's stock price. The sentiment among big-money traders is more bearish than bullish, which could further drive the price down. However, positive ratings from analysts at Oppenheimer and Wells Fargo could mitigate some of this impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100