Benzinga | Jan 4, 2022 12:58PM EST

Bank of America Whale Trades For January 04

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 46 strange trades.

If we consider the specifics of each trade, it is accurate to state that 54% of the investors opened trades with bullish expectations and 45% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $568,296 and 41, calls, for a total amount of $6,702,626.

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 $25.0 to $55.0 for Bank of America over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $25.0 to $55.0 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 TRADE BEARISH 01/20/ $50.00 $3.5M 142.4K 23.8K 23BAC CALL SWEEP BULLISH 01/20/ $50.00 $430.0K 142.4K 5.9K 23BAC PUT SWEEP BULLISH 01/19/ $47.00 $340.7K 113 15 24BAC CALL TRADE BULLISH 02/18/ $42.00 $325.0K 4.5K 613 22BAC CALL SWEEP BULLISH 01/21/ $30.00 $257.2K 12.4K 222 22

Where Is Bank of America Standing Right Now?

* With a volume of 37,967,152, the price of BAC is up 4.73% at $48.36.

* RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.

* Next earnings are expected to be released in 15 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.

* Barclays has decided to maintain their Overweight rating on Bank of America, which currently sits at a price target of $58.

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.