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.

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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.

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