Looking At Bank of America's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Bank of America (NYSE:BAC) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split, with 43% bullish and 56% bearish. The whales have been targeting a price range from $13.0 to $35.0 for Bank of America over the last 3 months. BMO Capital, Oppenheimer, and Morgan Stanley have maintained their respective ratings on Bank of America, with price targets of $40, $49, and $32.
October 30, 2023 | 8:16 pm
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Unusual options activity indicates a significant bearish stance on Bank of America. This could potentially impact the stock's price in the short term.
The unusual options activity, particularly the bearish stance taken by a large investor, indicates a potential negative impact on Bank of America's stock price in the short term. This is further supported by the split sentiment among big-money traders.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100