Check Out What Whales Are Doing With BAC
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have shown a bearish sentiment towards Bank of America (BAC), with a significant move detected by Benzinga's options scanner. The scanner revealed 13 extraordinary options activities, with a bearish majority of 92%. The options trades suggest a price target range for BAC from $18.0 to $42.0. The largest trades include both puts and calls, with a bearish sentiment even on calls. Bank of America is a major financial institution in the U.S., and despite the bearish outlook from options traders, professional analysts from Oppenheimer and Morgan Stanley have set higher price targets of $50 and $41, respectively.
February 28, 2024 | 3:16 pm
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NEGATIVE IMPACT
Bearish sentiment from deep-pocketed investors with a price target range of $18-$42, despite bullish analyst targets of $50 and $41 from Oppenheimer and Morgan Stanley.
The bearish sentiment from options traders, indicated by the significant put activities and the bearish sentiment on calls, suggests a short-term downward pressure on BAC's stock price. However, the bullish outlook from professional analysts and the company's strong financial position may counterbalance this sentiment in the longer term. The discrepancy between the traders' bearish sentiment and analysts' bullish targets creates uncertainty, hence the confidence score is not at the maximum.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100