Bank of America Unusual Options Activity For February 09
Portfolio Pulse from Benzinga Insights
Bank of America (NYSE:BAC) has seen significant options trading activity, with a bearish sentiment prevailing among traders. Analysis of 16 unusual trades revealed 68% bearish and 31% bullish tendencies, with puts valued at $391,079 and calls at $219,036. The options activity suggests a price target range of $30.0 to $35.0. Recent analyst ratings on BAC have been mixed, with an average target price of $41.98, indicating potential upside. The stock's current price is $33.06, slightly down with an RSI suggesting it may be approaching overbought territory.
February 09, 2024 | 3:45 pm
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NEUTRAL IMPACT
Bank of America has seen a bearish sentiment in options trading, with a price target range of $30-$35 suggested. Mixed analyst ratings point to a potential upside with an average target price of $41.98, despite the current slight downtrend.
The bearish sentiment in options trading and the mixed analyst ratings create a complex outlook for BAC. The significant options activity, especially the bearish bets, could indicate short-term volatility. However, the average analyst target price suggests a longer-term optimism. The current slight downtrend and the RSI approaching overbought territory add to the short-term uncertainty, making the impact neutral as these factors could balance each other out.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100