Bank of America (BAC) Offering Possible 7.99% Return Over the Next 20 Calendar Days

Bank of America's most recent trend suggests a bullish bias. One trading opportunity on Bank of America is a Bull Put Spread using a strike $24.00 short put and a strike $19.00 long put offers a potential 7.99% return on risk over the next 20 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $24.00 by expiration. The full premium credit of $0.37 would be kept by the premium seller. The risk of $4.63 would be incurred if the stock dropped below the $19.00 long put 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 up which suggests that the medium-term momentum for Bank of America is bullish.

The RSI indicator is at 57.37 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

Buffett's Berkshire boosts its stake in Bank of America to 11.8%
Fri, 31 Jul 2020 02:47:05 +0000

Bank of America Corp. stock falls Thursday, underperforms market
Thu, 30 Jul 2020 20:25:00 +0000
COMPANY CLOSE UPDATES Terrence Horan Shares of Bank of America Corp. BAC slid 1.70% to $24.84 Thursday, on what proved to be an all-around poor trading session for the stock market, with the S&P 500 Index SPX falling 0.

Economist on recession risks: ‘Getting a double dip is an exceptionally rare development'
Thu, 30 Jul 2020 17:50:41 +0000
Mizuho Securities Managing Director and Chief Economist Steve Ricchiuto joins Yahoo Finance’s Zack Guzman to break down the second quarter GDP report and the latest jobless claims numbers.

10 Biggest Banks in the World
Thu, 30 Jul 2020 15:58:27 +0000
With Industrial and Commercial Bank Of China in the top spot these are the 10 biggest banks by 12-month trailing revenue.

Warren Buffett Buys Bank of America Stock as Others Hedge. Who’s Right?
Thu, 30 Jul 2020 15:52:00 +0000
Buffett’s strategy to buy a solid, if beaten-down, bank stock during a period of has a long track record, and hedging, at best, is expensive. How to play BofA with options

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