Bank of America (BAC) Offering Possible 11.36% Return Over the Next 27 Calendar Days

Bank of America's most recent trend suggests a bearish bias. One trading opportunity on Bank of America is a Bear Call Spread using a strike $27.00 short call and a strike $32.00 long call offers a potential 11.36% return on risk over the next 27 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $27.00 by expiration. The full premium credit of $0.51 would be kept by the premium seller. The risk of $4.49 would be incurred if the stock rose above the $32.00 long call strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Bank of America is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for Bank of America is bearish.

The RSI indicator is at 43.64 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here


LATEST NEWS for Bank of America

JD Health Plans $1 Billion H.K. IPO Filing This Month
Fri, 18 Sep 2020 08:37:00 +0000
(Bloomberg) — JD Health has selected banks for its planned Hong Kong initial public offering, which it could file for as soon as this month, according to people familiar with the matter.The online health care unit of China’s No. 2 e-commerce giant JD.com Inc. has picked Bank of America Corp., Haitong International Securities Group Ltd. and UBS Group AG to work on the listing, the people said. JD Health aims to raise at least $1 billion from the share sale, the people said, asking not to be identified as the matter is private.Details of the offering including the size and timeline are subject to change, they said. A representative for JD didn’t respond to requests for comment. Representatives for Bank of America, Haitong International and UBS declined to comment.Health care companies in Asia have embarked on a record wave of fundraising as the sector enjoys buoyant valuations thanks to surging investor demand. Hong Kong has seen a parade of biotech firms go public in the city and individual investors have at times put in so many orders than institutional buyers struggled to get their hands on the stocks.Some $12.7 billion has been raised by health-care companies through first-time share sales in Asia this year, higher than full-year tally of any of the past 12 years, data compiled by Bloomberg show. U.S.-traded JD.com raised about $4.5 billion through a second listing in Hong Kong in June.(Updates with Haitong mandate in second paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

SoftBank’s Sale of Wireless Stock Said to Draw Excess Demand
Fri, 18 Sep 2020 02:35:20 +0000
(Bloomberg) — SoftBank Group Corp.’s sale of 1.24 trillion yen ($11.8 billion) of stock in its domestic wireless arm met with robust demand from overseas and Japanese financial institutions, as well as individual investors in Japan, according to people familiar with the matter.Foreign and domestic institutional investors sought more than five times as many shares than were for sale, said people involved in coordinating the transaction, who asked not to be identified because the information isn’t public. Demand from retail investors also exceeded the shares allocated.The transaction, Japan’s biggest secondary share sale in two decades, is among the latest in a frenzy of deals unleashed by SoftBank founder Masayoshi Son as the company looks to refill its coffers amid the continuing coronavirus pandemic. Son has already offloaded $13.7 billion of Alibaba Group Holding Ltd. stock and a stake in T-Mobile US Inc. for about $20 billion. It also recently agreed to sell Arm Ltd. to Nvidia Corp. for about $40 billion. SoftBank is using some of the proceeds to pay down debt and is mid-way through a record 2.5 trillion yen of stock repurchases.The Japanese firm earlier this week said it will sell SoftBank Corp. shares at 1,204.50 yen apiece, disposing about a third of its stake. SoftBank Corp.’s shares have climbed almost 3% since the announcement.Nomura Holdings Inc., Daiwa Securities Group Inc., Mizuho Financial Group Inc., Merrill Lynch Japan Securities Co. and JPMorgan Chase & Co. are the global coordinators on the deal. Nomura underwrote 35% of the domestic stock, followed by Daiwa with 30% and Mizuho’s 15%, according to the people. Overseas, Nomura, Bank of America Corp. and JPMorgan had a 20% share each. The underwriters received 21.6 billion yen in fees, according to a spokesperson for SoftBank.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Bank of America Corp. stock outperforms competitors despite losses on the day
Thu, 17 Sep 2020 20:25:00 +0000
COMPANY CLOSE UPDATES Terrence Horan Shares of Bank of America Corp. BAC slumped 0.98% to $25.35 Thursday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index SPX falling 0.

US STOCKS-Wall Street to open lower as labor market recovery stalls
Thu, 17 Sep 2020 12:42:37 +0000
Wall Street's main indexes were poised to open lower on Thursday after data continued to show high levels of weekly jobless claims, adding to concerns about an economic rebound a day after the Federal Reserve issued an underwhelming stimulus plan. The Labor Department's report showed the number of Americans filing new claims for unemployment benefits fell last week, but remained perched at extremely high levels as the labor market recovery shifts into low gear and consumer spending cools. In a news conference on Wednesday, Fed Chair Jerome Powell also indicated a long road to “maximum employment” and said the central bank was limited in its capacity to address some of the gaps around wage growth and workforce participation.

US STOCKS-Futures slip with focus on jobless claims as Fed underwhelms
Thu, 17 Sep 2020 10:49:41 +0000
U.S. stock futures fell on Thursday as investors braced for data likely to show persistently high levels of weekly jobless claims, adding to concerns about an economic rebound a day after the Federal Reserve issued an underwhelming stimulus plan. The Labor Department's weekly report, due at 8:30 a.m. ET, is expected to show about 850,000 Americans filed for unemployment benefits in the week ended Sept. 12, a touch lower than 884,000 in the previous week, but still suggesting the labor market's recovery from the COVID-19 pandemic was stalling. In a news conference on Wednesday, Fed Chair Jerome Powell also indicated a long road to “maximum employment” and said the central bank was limited in its capacity to address some of the gaps around wage growth and workforce participation.

Be Sociable, Share!

Related Posts

 

MarketTamer is not an investment advisor and is not registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory Authority. Further, owners, employees, agents or representatives of MarketTamer are not acting as investment advisors and might not be registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory.


This company makes no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended in this email, and makes no representations or warranties concerning said company or entity’s compliance with applicable laws and regulations, including, but not limited to, regulations promulgated by the SEC or the CFTC. The sender of this email may receive a portion of the proceeds from the sale of any products or services offered by a company or entity mentioned or recommended in this email. The recipient of this email assumes responsibility for conducting its own due diligence on the aforementioned company or entity and assumes full responsibility, and releases the sender from liability, for any purchase or order made from any company or entity mentioned or recommended in this email.


The content on any of MarketTamer websites, products or communication is for educational purposes only. Nothing in its products, services, or communications shall be construed as a solicitation and/or recommendation to buy or sell a security. Trading stocks, options and other securities involves risk. The risk of loss in trading securities can be substantial. The risk involved with trading stocks, options and other securities is not suitable for all investors. Prior to buying or selling an option, an investor must evaluate his/her own personal financial situation and consider all relevant risk factors. See: Characteristics and Risks of Standardized Options. The www.MarketTamer.com educational training program and software services are provided to improve financial understanding.


The information presented in this site is not intended to be used as the sole basis of any investment decisions, nor should it be construed as advice designed to meet the investment needs of any particular investor. Nothing in our research constitutes legal, accounting or tax advice or individually tailored investment advice. Our research is prepared for general circulation and has been prepared without regard to the individual financial circumstances and objectives of persons who receive or obtain access to it. Our research is based on sources that we believe to be reliable. However, we do not make any representation or warranty, expressed or implied, as to the accuracy of our research, the completeness, or correctness or make any guarantee or other promise as to any results that may be obtained from using our research. To the maximum extent permitted by law, neither we, any of our affiliates, nor any other person, shall have any liability whatsoever to any person for any loss or expense, whether direct, indirect, consequential, incidental or otherwise, arising from or relating in any way to any use of or reliance on our research or the information contained therein. Some discussions contain forward looking statements which are based on current expectations and differences can be expected. All of our research, including the estimates, opinions and information contained therein, reflects our judgment as of the publication or other dissemination date of the research and is subject to change without notice. Further, we expressly disclaim any responsibility to update such research. Investing involves substantial risk. Past performance is not a guarantee of future results, and a loss of original capital may occur. No one receiving or accessing our research should make any investment decision without first consulting his or her own personal financial advisor and conducting his or her own research and due diligence, including carefully reviewing any applicable prospectuses, press releases, reports and other public filings of the issuer of any securities being considered. None of the information presented should be construed as an offer to sell or buy any particular security. As always, use your best judgment when investing.