Outperforming Bank Stock Has Support Piling Up
By
Schaeffer's Digital Content Team
| September 04, 2026, 3:26 PM
Subscribers to Schaeffer's Weekend Trader options recommendation service received this BAC commentary on Sunday night, along with a detailed options trade recommendation -- including complete entry and exit parameters. Learn more about why Weekend Trader is one of our most popular options trading services.
Bank of America Inc (NYSE:BAC) is pulling into its 50-day moving average as part of a defined uptrend. Lows were found near put support at the 60 strike on Thursday afternoon and Friday morning.
Digging deeper, a bunch of put adds at 62.50 for October occurred on Friday, which could become supportive.
Overhead calls are set to roll off as we work our way through September, opening up a window to move towards the 70-strike call level overhead.
Digging deeper, a bunch of put adds at 62.50 for October occurred on Friday, which could become supportive.
Overhead calls are set to roll off as we work our way through September, opening up a window to move towards the 70-strike call level overhead.
An unwinding of bearish bets in the options pits could fuel tailwinds, with BAC’s 50-day put/call volume ratio sitting in the 78th percentile of its annual range. With a Schaeffer’s Volatility Index (SVI) in the low 12th percentile of its annual range, premium can be had for a bargain right now.
Our recommended October call has a leverage ratio of 14.8 and will double in value with a 7% move in the underlying equity.
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