Benzinga | Dec 9, 2021 09:37PM EST

Looking At Bank of America's Recent Whale Trades

A whale with a lot of money to spend has taken a noticeably bullish stance on Bank of America.

Looking at options history for Bank of America (NYSE:BAC) we detected 20 strange trades.

If we consider the specifics of each trade, it is accurate to state that 55.0% of the investors opened trades with bullish expectations and 45.0% with bearish.

From the overall spotted trades, 10 are puts, for a total amount of $873,339.00 and 10, calls, for a total amount of $1,154,461.00.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $20.0 to $60.0 for Bank of America over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Bank of America's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Bank of America's whale activity within a strike price range from $20.0 to $60.0 in the last 30 days.

Bank of America Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestBAC CALL SWEEP BEARISH 03/18/ $43.00 $406.5K 1.1K 3.3K 22BAC CALL TRADE NEUTRAL 01/20/ $50.00 $275.0K 114.6K 1.3K 23BAC PUT SWEEP BULLISH 03/18/ $43.00 $264.8K 1.0K 1.3K 22BAC PUT SWEEP BULLISH 01/20/ $55.00 $174.6K 848 174 23BAC CALL SWEEP BEARISH 03/18/ $43.00 $114.2K 1.1K 3.6K 22

Where Is Bank of America Standing Right Now?

* With a volume of 23,354,010.00, the price of BAC is down -1.14% at $44.2.

* RSI indicators hint that the underlying stock may be approaching oversold.

* Next earnings are expected to be released in 42 days.

What The Experts Say On Bank of America:

* Morgan Stanley has decided to maintain their Underweight rating on Bank of America, which currently sits at a price target of $49.0.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.