Bank of America Unusual Options Activity For August 27
Portfolio Pulse from Benzinga Insights
Unusual options activity for Bank of America (BAC) has been observed, with a significant bearish sentiment among big-money traders. The options trades include 10 puts and 9 calls, with a total bearish sentiment of 73%. The price range targeted by these trades is between $30.0 and $55.0. Currently, BAC is trading at $40.03, with a neutral RSI. An analyst from Morgan Stanley maintains an Overweight rating with a target price of $49.
August 27, 2024 | 3:46 pm
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Unusual options activity for Bank of America indicates a bearish sentiment among big-money traders, with 73% of trades being puts. The targeted price range is $30.0 to $55.0. Current trading price is $40.03, with a neutral RSI. Morgan Stanley maintains an Overweight rating with a target price of $49.
The significant bearish sentiment in options trading suggests that investors expect a potential decline in BAC's stock price. The high percentage of puts (73%) compared to calls indicates a negative outlook. Despite a neutral RSI and an Overweight rating from Morgan Stanley, the options activity suggests caution in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100