Bank of America's Options: A Look at What the Big Money is Thinking
Portfolio Pulse from Benzinga Insights
Financial giants have shown a bearish sentiment towards Bank of America (NYSE:BAC) through options trading. Analysis reveals 73% of trades were bearish, with significant activity in puts and calls. The stock is currently trading at $39.8, with a consensus target price of $37.0. Piper Sandler maintains an Underweight rating with a price target of $37.
June 10, 2024 | 7:01 pm
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Financial giants have shown a bearish sentiment towards Bank of America (NYSE:BAC) through options trading. Analysis reveals 73% of trades were bearish, with significant activity in puts and calls. The stock is currently trading at $39.8, with a consensus target price of $37.0. Piper Sandler maintains an Underweight rating with a price target of $37.
The majority of options trades (73%) are bearish, indicating a negative sentiment among major market movers. Piper Sandler's Underweight rating and a target price of $37.0 further support a bearish outlook. This is likely to put downward pressure on BAC's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100