Smart Money Is Betting Big In BAC Options
Portfolio Pulse from Benzinga Insights
Smart money investors have shown a bearish stance on Bank of America (BAC) through significant options trading activity, with a split sentiment of 22% bullish and 77% bearish. The options trades suggest a price target range of $28.0 to $42.0. BAC's current market status shows a 1.48% increase in stock price to $36.32, with an upcoming earnings report. Analyst ratings vary, with an average target price of $39.8, ranging from $37 to $44.
April 15, 2024 | 2:31 pm
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NEUTRAL IMPACT
Significant bearish options activity on BAC suggests smart money anticipates a potential price movement. With a current uptick in stock price and mixed analyst ratings, the short-term impact could be volatile.
The bearish sentiment from significant options trades, combined with the upcoming earnings report and current analyst ratings, suggests a potential for increased volatility in BAC's stock price in the short term. The mix of bullish and bearish trades, along with the stock's current performance and analyst outlooks, makes the short-term direction uncertain, hence the neutral score.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100