Bank of America stock landed on Schaeffer’s Senior Quantitative Analyst Rocky White’s list of stocks that have attracted the highest weekly options volume
Bank of America Corp (NYSE:BAC) is up 4.2% at $28.28 at last glance, as regional bank stocks continue their recovery following SVB Financial Group’s (SIVB) collapse, with more potential tailwinds in store. Bouncing off last session’s two-year low of $26.32, BAC is still down 17.6% since the start of the month.
Bank of America stock captured the attention of options traders amid the recent debacle, according to Schaeffer’s Senior Quantitative Analyst Rocky White’s list of stocks that have attracted the highest weekly options volume in the past 10 days. BAC saw 3,938,519 calls and 3,133,439 puts exchanged in that time. The most popular contract over this period was the March 30 call, followed by the April 30 call.
The bank stock appears to be due for a short-term bounce, per its 14-day relative strength index (RSI) of 18.1, which sits firmly in “oversold” territory. Analysts, meanwhile, are split on the equity, with eight of the 19 in coverage carrying a “buy” or better rating, and eight a “hold” or worse.
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