Bank of America (BAC) Offering Possible 8.46% Return Over the Next 6 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 $30.00 short call and a strike $35.00 long call offers a potential 8.46% return on risk over the next 6 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $30.00 by expiration. The full premium credit of $0.39 would be kept by the premium seller. The risk of $4.61 would be incurred if the stock rose above the $35.00 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Bank of America is bearish and the probability of a decline 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 44.13 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

Uber Raises $8.1 Billion in IPO Priced Near Bottom of Range
Thu, 09 May 2019 22:43:16 +0000
Based on the amount of stock outstanding after the offering, the IPO price gives San Francisco-based Uber a market value of $75.5 billion, just below its last private market value of $76 billion. The fully diluted value, including restricted stock units and other shares, could be about $82 billion. Uber has prioritized selecting shareholders — particularly institutional investors — that it thinks will hold on to the stock for a long time, according to a person familiar with the matter.

Supportive work environments are key to promoting LGBT execs
Thu, 09 May 2019 21:00:00 +0000
Professional services firms in Boston that have made the most progress advancing under-represented minorities, including those in the LGBT community, share at least one aspect, according to local executives : Compassionate and open-minded leadership.

First Data Drops on Report Bank of America Considering Scrapping Partnership
Thu, 09 May 2019 17:15:00 +0000
The decision would give Bank of America more control of its business that focuses on moving money for merchants, the Journal reported. First Data has a majority ownership stake in the joint venture, Bank of America Merchant Services, which Bank of America agreed to when it was still vulnerable following the financial crisis a decade ago.

5 Top Investors Who Profited From The Global Financial Crisis
Thu, 09 May 2019 14:28:41 +0000
The recommendation to “buy when there's blood in the streets” has been attributed to more than one rich businessman, but is a solid approach to creating substantial wealth. With that, below are five investors that demonstrated remarkable timing by making big investments during the credit crisis and are well on their way to huge gains as a result. In October 2008, Warren Buffett published an article in the New York Times Op-Ed section declaring he was buying American stocks during the equity downfall brought on by the credit crisis.

First Data's stock falls after WSJ report that Bank of American mulls ending payment partnership
Thu, 09 May 2019 14:01:00 +0000
Shares of First Data Corp. slumped 3.6% in morning trade Thursday, after The Wall Street Journal reported that Bank of America Corp. was considering dissolving the payment-processing joint venture it has with the company. Citing people familiar with the matter, the WSJ report said BofA hasn't made a final decision on the future of the partnership, which expires in June 2020, but said leaving the decade-old JV would give the bank more control of its business that focuses on moving money for merchants. BofA's stock slipped 1.2% in morning trade. First Data's stock has rallied 45% year to date, while BofA shares have gained 19.4% and the Dow Jones Industrial Average has advanced 10.0%.

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