This Is What Whales Are Betting On Bank of America
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Bank of America (NYSE:BAC) by a large investor or institution, as indicated by unusual options activity. The sentiment among these big-money traders is 21% bullish and 78% bearish. The whales have been targeting a price range from $25.0 to $31.0 for Bank of America over the last 3 months. BMO Capital and Oppenheimer have maintained their Market Perform and Outperform ratings on Bank of America, with price targets of $40 and $49 respectively.
November 03, 2023 | 1:46 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
A large investor has taken a bearish stance on Bank of America, with unusual options activity indicating a price target range of $25.0 to $31.0. BMO Capital and Oppenheimer maintain their ratings with price targets of $40 and $49 respectively.
The bearish stance taken by a large investor or institution, as indicated by unusual options activity, suggests that there may be a negative outlook for Bank of America. This could potentially lead to a decrease in the stock price in the short term. However, the maintained ratings and price targets by BMO Capital and Oppenheimer indicate a positive long-term outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100