Bank of America (BAC, Financial) has experienced a notable uptick in bullish options activity, with a total of 37,362 call options traded. This marks a trading volume 1.2 times above the usual expectation. Simultaneously, implied volatility has climbed almost 4 points, reaching 37.49%.
Significant activity has been observed in the options market, particularly in the 6/17 weekly 38 calls and the 4/25 weekly 29.5 puts. Combined, these strikes account for approximately 22,100 contracts. The current Put/Call Ratio stands at 0.40, indicating a stronger interest in call options compared to puts.
The observed trading behavior comes as the financial community looks ahead to Bank of America's upcoming earnings report, scheduled for release on July 16th. Investors are closely monitoring how these developments could impact the stock's performance in the weeks leading up to the earnings announcement.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 22 analysts, the average target price for Bank of America Corp (BAC, Financial) is $47.27 with a high estimate of $57.00 and a low estimate of $33.90. The average target implies an upside of 28.71% from the current price of $36.73. More detailed estimate data can be found on the Bank of America Corp (BAC) Forecast page.
Based on the consensus recommendation from 25 brokerage firms, Bank of America Corp's (BAC, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Bank of America Corp (BAC, Financial) in one year is $43.39, suggesting a upside of 18.15% from the current price of $36.725. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Bank of America Corp (BAC) Summary page.
