BACBank of America Corporation
Options Analysis Report•NATIONAL COMMERCIAL BANKS
Market Cap $384.4B|NYSE
● 2026-04-17$53.91
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +46.0%YTD -3.6%7D +2.6%
Options Vol
123,030
30D
Implied Move
±7.1%
IV Rank
25%
BAC Options Overview
IV is low. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.6
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 10.8% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.17x — IV premium over HV
Sector Relative≤50%
Sector percentile 9% — below sector median
Term Structure
<1.1xFront/Back 0.92x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 26.1% — normal range
Spread-Adjusted Value
<80%Effective IV 37.7% (ATM 26.1% + spread 5.8% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 9.29% (spread 5.78% + slippage 3.51%) — high friction
Vega Efficiency
≥5.0Vega efficiency 1.53 (vega 0.882 / spread 5.78%) — spread drag
Sentiment
Bullish or bearish?
5.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: -2%, Raw: -6%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -2% (neutral) — Raw: -6%
OI Skew Magnitude
≥15%|OI skew| 5.6% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +8.4%, OI skew -5.6% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 36%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -11%, ATM: -4%, OTM: -7% — neutral (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 52% — neutral vs sector
Activity
Unusual activity?
4.7
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 4.5% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +7.6% (5d) — building
Sector Relative≥60%
Sector activity percentile 53% — neutral vs sector
Trade Quality
≥30%Large trade volume 36% — institutional presence
Execution Urgency
≥60%Aggressive execution 70% — urgent
Flow Conviction
≥30Conviction -2 (bearish) — mixed
Liquidity
Can I trade efficiently?
6.6
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks5/8 checks passed
Tradeable Spread
≤5.0%Spread 5.8% — wide
Adequate OI
≥10,000OI 2,729,768 — deep
Active Volume
≥500Volume 123,030/day — active
Reasonable Cost
≤$0.50$0.29 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 13% — much tighter than sector
Order Book Depth
≥100 contractsDepth 811.4 contracts (bid:333.4 ask:478.0) — deep
Execution Quality
<1.0%Avg slippage 3.51% — poor
Timing
Is now a good time?
7.3
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -7.9% — contango
IV Percentile Clarity
<30 or >70IV percentile 11% — buyer opportunity
Event Detection
≥10pts kinkIV kink -0.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 7.97 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -2% @ 51% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 66 (ITM 20% + inst 36%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls6.5
bullishIV cheap, mixed flow
Long Puts6.5
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.9
bullishIV too cheap, mixed flow
Covered Call4.9
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.