Financials

Bank of America Corp (BAC) options and signal

Figures as of 28 Sep 2026

BAC is Bank of America Corp, a Financials name the model ranks every trading day. The options figures are from the close on 28 Sep 2026. The model's figures are from 25 Sep 2026, one trading day behind the latest, as the Free plan shows them. Every model figure is paper trading.

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At a glance

Figure	Value	Date
IV rank	62 of 100	28 Sep
At the money IV	29.1%	28 Sep
Priced move to 30 Oct	8.9% down, 8.3% up	28 Sep
Call wall and put wall	60 and 55	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	55.47	28 Sep
Next report	14 Oct 2026	28 Sep

Options Snapshot

BAC's IV rank is 62 of 100 on 28 Sep 2026.

Figure	Value
IV rank	62 of 100
At the money IV	29.1%, near month, 32 days
Put/call ratio, open interest	1.02
Call open interest, strikes captured near the price	640,000 contracts
Put open interest, strikes captured near the price	653,000 contracts
Cost to trade at the money	Tight, 11.2% of the option's mid price

IV rank is where the at the money IV sits among BAC's own weekly readings, 0 the lowest and 100 the highest.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Priced Range

On 28 Sep 2026, BAC options priced a move of 8.9 percent down and 8.3 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	3.1%	2.8%	53.77 to 57.01
9 Oct 2026	11	4.6%	4.3%	52.91 to 57.84
23 Oct 2026	25	8.0%	8.5%	51.03 to 60.18
30 Oct 2026	32	8.9%	8.3%	50.51 to 60.09
20 Nov 2026	53	10.3%	10.5%	49.78 to 61.27
18 Dec 2026	81	12.6%	12.6%	48.47 to 62.45
19 Feb 2027	144	17.0%	17.6%	46.02 to 65.25

The range is one standard deviation either side of the close of 55.47, as the option prices imply it.

A priced move restates option prices at the close and says nothing certain about where the price goes.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Gamma Map

On 28 Sep 2026, BAC's call wall is the 60 strike and its put wall is the 55 strike.

Figure	Value
Call wall, most open call gamma	60
Put wall, most open put gamma	55
Flip strike, where net gamma changes sign	56.24
Net dollar gamma, calls minus puts	minus $23.27 million
Total dollar gamma, both sides	$177.84 million
Close	55.47

Dollar gamma is stated for a one percent move in the price.

Net is calls minus puts under the standard convention, not a record of who holds the contracts.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility History

On 28 Sep 2026, BAC's at the money IV is 29.1 percent against 20 day realized volatility of 25.3 percent.

Figure	Value
At the money IV	29.1%
Realized volatility, 20 trading days	25.3%
Realized volatility, 60 trading days	21.8%
IV against its own weekly record	In the middle
Weekly readings on record	864, from 8 Jan 2010
Weeks the price moved more than the one week priced move	26.6% of 252 weeks

Realized volatility is worked out from the daily closes the desk holds, not from the option chain.

From the option chain at the close on 28 Sep 2026. Current on every plan.

Open Volatility History in RingMaster The Volatility History guide

Volatility Weather

On 28 Sep 2026, BAC's at the money IV runs from 26.9 percent at 4 days to 27.2 percent at 144 days.

Days to expiry	At the money IV
4	26.9%
11	25.3%
18	32.3%
25	35.0%
39	27.8%
53	27.3%
81	26.9%
144	27.2%

Near and far expiries price about the same volatility, a flat term structure.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Smile

On 28 Sep 2026, at the 32 day expiry, BAC's IV ten percent below the price sits 15.9 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	45.0%	+15.9 points
At the money	29.1%	0.0 points
10% above the price	29.0%	-0.1 points

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Surface

On 28 Sep 2026, BAC's surface spans 10 expiries out to 144 days, with IV from 24.7 to 49.8 percent near the price.

Figure	Value
Expiries captured	10
Nearest expiry	2 Oct 2026, 4 days
Farthest expiry	19 Feb 2027, 144 days
Points within 10% of the price, 7 days out or more	80
Lowest IV among them	24.7%
Highest IV among them	49.8%

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Expiry Ladder

On 28 Sep 2026, BAC has 10 captured expiries, from 2 Oct 2026 to 19 Feb 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
2 Oct 2026	4	26.9%	47,922	32,368
9 Oct 2026	11	25.3%	12,274	8,293
16 Oct 2026	18	32.3%	93,052	92,766
23 Oct 2026	25	35.0%	7,085	4,333
30 Oct 2026	32	29.1%	6,279	3,121
6 Nov 2026	39	27.8%	73	543
20 Nov 2026	53	27.3%	66,016	78,809
18 Dec 2026	81	26.9%	127,505	95,337
15 Jan 2027	109	27.2%	262,863	307,342
19 Feb 2027	144	27.2%	16,611	30,297

Open interest is summed over the strikes captured near the price on each expiry.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Strike Table

On 28 Sep 2026, BAC's largest open interest sits at the 55 strike, with 188,346 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
55	44,872	143,474	188,346
60	95,989	70,179	166,168
50	29,091	82,645	111,736
57.5	64,567	44,700	109,267
62.5	68,930	32,840	101,770
65	79,508	11,202	90,710

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Since Yesterday

From 25 Sep 2026 to 28 Sep 2026, BAC's at the money IV moved from 28.5 percent to 29.1 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	28.5%	29.1%	+0.6 points
Open interest, strikes captured near the price	1.34 million	1.29 million	-44,381
Put/call ratio, open interest	1.06	1.02	-0.04

Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Changed Hands

On 28 Sep 2026, 104,383 BAC option contracts traded, 0.7 times its own recent average.

Figure	Value
Calls traded	57,710
Puts traded	46,673
Against its recent average	0.7 times
Busier than	9 of its last 20 trading days
Open interest, whole chain	1.95 million contracts
Volume to open interest	0.05
Unusual volume flag	Yes, 3 contracts traded well above open interest
Largest flagged contract	The 56 put expiring 23 Oct, 3,729 traded against 725 open

Traded volume and open interest are shown side by side and never combined. Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Positioning Replay

The replay holds 33 trading days of BAC's option positioning, from 11 Aug 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
11 Aug 2026	64.00	$101.88 million	65	60
21 Sep 2026	57.96	$1.97 million	60	55
28 Sep 2026	55.47	minus $23.27 million	60	55

Each frame restates one nightly capture. Net is calls minus puts, a convention, not who holds the contracts.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Read-out

On 25 Sep 2026 the desk's view of BAC was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	55.74, the swing high of 23 Sep 2026
Level below the close	55.37, the swing low of 28 Sep 2026, a close past it runs against the view
The chart	Sits against the view
Strategy family	Cash-secured put (sell a put below the price)
Price target	None. The desk has no price model.

The levels are prices the shares turned at on the chart, with the date of each.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Rank by Timeframe

On 25 Sep 2026 BAC sat at the 92nd percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	58 of 100	Neutral
20 trading days	83 of 100	Bullish
45 trading days	92 of 100	Bullish

100 is the top of the ranking. A name in the middle three fifths is neutral.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Timeframe Agreement

On 25 Sep 2026, 2 of 3 timeframes put BAC on the bullish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Bullish	1 of 2
Long	45 day	Bullish	1 of 1

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Signal History

On 25 Sep 2026 BAC had carried no signal for 2 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	92 of 100
24 Sep 2026	None	91 of 100
23 Sep 2026	Bullish	98 of 100
22 Sep 2026	Bullish	98 of 100
21 Sep 2026	None	60 of 100
18 Sep 2026	None	56 of 100
17 Sep 2026	None	86 of 100
16 Sep 2026	None	98 of 100

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Sector Split

On 25 Sep 2026, 63 of 135 Financials names were bullish and 32 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Financials	135	63	32	40

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Price Chart

BAC closed at 55.47 on 28 Sep 2026.

Figure	Value
Last close	55.47
Change over 5 trading days	-4.3%
Change over 21 trading days	-9.3%
Change over 63 trading days	-4.2%
Change over 252 trading days	+7.0%
52 week high	65.23
52 week low	46.12
20 day moving average	59.69
50 day moving average	61.42
200 day moving average	55.31
RSI, 14 days	27

Worked out from the desk's own daily bars, adjusted for share splits.

From the daily bars through 28 Sep 2026. Current on every plan.

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Earnings Radar

BAC reports next on 14 Oct 2026, and options priced an earnings move of 5.8 percent through 16 Oct 2026.

Figure	Value
Next report	14 Oct 2026, before the open
Date	Confirmed by the company
Priced earnings move	5.8%, a straddle of $3.20 at the 55 strike, expiring 16 Oct 2026
Move after the report of 14 Jul 2026	+1.9%
Move after the report of 15 Apr 2026	+1.8%
Move after the report of 14 Jan 2026	-3.8%
Move after the report of 15 Oct 2025	+4.4%

The priced earnings move is the straddle's cost over the share price. It restates option prices and says nothing certain about the report.

Earnings calendar as of 28 Sep 2026. Current on every plan.

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Short Volume

On 25 Sep 2026, 46.8 percent of BAC's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	46.8%
Five day average	39.2%
52 week median	42.3%

Short sale volume counts trades marked short at the covered venues, mostly off exchange. It is not the same as short interest.

Short volume as of 25 Sep 2026. Current on every plan.

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Seasonality

In the 36 Septembers on record, BAC's average change was minus 2.5 percent, and it rose in 36.1 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-2.5%	-2.3%	36.1%	36
October	+0.8%	+2.3%	63.9%	36
November	+3.0%	+3.3%	66.7%	36

Each figure is a month end to month end change in past years. A past month says nothing certain about the next one.

Monthly history through 28 Sep 2026. Current on every plan.

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Headlines

The desk's news feeds carried 6 headlines naming BAC in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	6
Latest	28 Sep 2026

The titles are in the Headlines window, with the time each was published.

Headlines as of 28 Sep 2026. Current on every plan.

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Questions

What is BAC's IV rank?: BAC's IV rank is 62 of 100 on 28 Sep 2026.
What move are BAC options pricing?: On 28 Sep 2026, BAC options priced a move of 8.9 percent down and 8.3 percent up by 30 Oct 2026.
Where are BAC's call wall and put wall?: On 28 Sep 2026, BAC's call wall is the 60 strike and its put wall is the 55 strike.
What was the desk's latest view of BAC on the Free plan?: On 25 Sep 2026 the desk's view of BAC was bullish, paper trading.
When does BAC report earnings next?: BAC reports next on 14 Oct 2026, and options priced an earnings move of 5.8 percent through 16 Oct 2026.

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