Bank of America Options Trading: A Deep Dive into Market Sentiment
Portfolio Pulse from Benzinga Insights
Recent options trading activity for Bank of America (NYSE:BAC) shows a bearish sentiment among major investors, with 60% of trades being bearish. The trading volume and open interest suggest a focus on a price range between $30 and $65. Despite this, the stock price is currently up 0.25% at $39.34, with a neutral RSI. Analysts have set an average price target of $49, with Morgan Stanley maintaining an Overweight rating.
August 23, 2024 | 5:32 pm
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Options trading for Bank of America indicates a bearish sentiment, with 60% of trades being bearish. The stock is currently trading at $39.34, with an average analyst price target of $49. Morgan Stanley maintains an Overweight rating.
The majority of options trades are bearish, indicating negative sentiment among investors. However, the stock price is slightly up, and analysts have a higher price target, suggesting mixed signals. The bearish sentiment in options trading could lead to short-term downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100