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BAC

Bank of America CorporationClose $56.20EOD only
Max Pain
$55.00
Next expiry Jun 26, 2026
Expected Move
±$1.44
2.6% from close
Price Gap
-1.20
Distance to max pain
IV Rank
100
High premium
P/C OI
1.36
Slightly put-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: Jun 18, 2026 close
End-of-day snapshot

This page reflects BAC options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
Jun 18, 2026 close
BAC Directional Report
Analysis based on market close June 18, 2026
DirectionalTheta GangFlowEarningsConsensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Outlook

BAC bullish from positive gamma and flow. Upside to $57.5-$58. Risk: break below $54.17.

Confidence:
8 / 10
Base 5, GEX/flow +2, pinning +1, MP -1, VIX +1 = 8.0
Supports: Bullish flow, gamma $141.9M, VIX 16.4, support $54.17
Conflicts: Spot 7% above MP, resistance $57.5
🟢Bullish flow, gamma pinning reinforce uptrend
⚠️Spot 7% above MP risks mean reversion

Regime Classification

Vol Regime
Normal
IV near typical; VIX 16.4 normal.
Gamma Regime
Pinning
Positive gamma $141.9M pinning to max pain $52/55/53.
Flow Regime
Bullish
Bullish flow aligns with gamma.
Spot vs Max Pain
Above
Spot $56.2, 7% above MP, bullish skew.
Thesis duration: Multi-week — Bullish flow, gamma, low VIX suggest upside 1-2 weeks.

Price Range Forecast

Next 1 week
$54.76$57.65
Lean upper half, support $54.76-$57.65.
Next 2 weeks
$54.17$58.23
Bullish to $58.23, resist $57.5.

Key Levels

Max pain pins: $52 (2026-06-18); $55 (2026-06-26); $53 (2026-07-02)
EM guardrails: 1w $54.76/$57.65
Support: $54.17 · $52.50
Resistance: $57.50 · $58.23
Gamma flip: ~$47.00 — Approx — based on put OI concentration of 104,983 (16.4% below spot)
Structural: Support $54.17, $52.5. Resistance $57.5, $58.23. Gamma flip $47.

Dealer Positioning (GEX/DEX)

GEX: $+141.9M

DEX: +68.3M shares

Gamma flip: ~$47 (Approx — based on put OI concentration of 104,983 (16.4% below spot))

NTM gamma: Long gamma $141.9M, delta +68.3M. Flip at $47 on put OI.

IV Analysis

IV vs VIX: IV near VIX, not rich/cheap.

Term structure: Term structure flat; June 18 may be elevated.

Skew: Skew bullish, no arb.

Flow Analysis

Net premium: Net premium $19.6M positive with P/C vol ratio 0.65 favoring calls, indicative of bullish flow.

Directional prints: 20.1 call 58 OTM 2026-06-26 — Vol/OI 4.5x; high relative volume suggests new bullish positions; OTM calls bought for upside. Preferred read: bullish. 20 call 57 OTM 2026-06-26 — Vol/OI 4.0x; elevated activity in near-the-money calls; likely bullish speculation. Preferred read: bullish.

Unusual: 34.4 put 48 OTM 2026-07-10 — Vol/OI 12.6x; extreme relative volume; OTM puts may be bearish bets or hedges. Likely bought for downside protection. 55 call 39 ITM 2027-01-15 — Vol/OI 11.2x; deep ITM call with high relative volume; likely long-dated bullish conviction. Preferred read: bullish. 29.1 put 50 OTM 2026-07-10 — Vol/OI 7.0x; notable put activity; OTM puts likely bearish speculation or hedging. Preferred read: cautious.

Risks & Catalysts

!Break below $54.17
!June 18 event risk
!Resistance $57.5-$58.23

Strategy Viability

StrategyEdgeBest SetupPrimary Risk
Put credit spreadStrong
Sell 2026-07-17 $52.50/$50.00 put spread
Why now: Collect premium at defined risk, aligns with bullish-neutral stance post-earnings.
Break below $54.17; resistance at $57.5-$58.
Bull call spreadStrong
Buy 2026-07-17 $57.50/$60.00 call spread
Why now: Direct bullish expression with limited cost, positioned before next earnings to capture continued momentum.
Underperformance if stock fails to rally; time decay if flat.

Top Plays

#1
Bull call spread
Buy 2026-07-17 $57.50/$60.00 call spread
Long call spread targeting further upside momentum with defined risk.
Why this play: Directly aligns with bullish thesis, limited cost, positioned ahead of earnings.
Debit: $0.66-$0.80
Max loss: $0.80
BE: $58.30
Mgmt: Close at $58 target or if price drops below $54.17.
Aggressive bullish traders seeking defined risk exposure.
#2
Put credit spread
Sell 2026-07-17 $52.50/$50.00 put spread
Selling put spread to earn premium with defined risk below support.
Why this play: Collects premium with downside protection, suits bullish-neutral stance.
Credit: $0.25-$0.30
Max loss: $2.20
BE: $52.20
Mgmt: Roll up if price rises; defend at $54.17.
Bullish-neutral traders seeking income with defined risk.

Watchlist Triggers

Entry Triggers
IFIF BAC holds above $54.17 support → THEN sell 2026-07-17 $52.50/$50 put credit spread at $0.25-$0.30
IFIF BAC breaks above $57.5 resistance with momentum → THEN buy 2026-07-17 $57.50/$60 call spread at $0.66-$0.80
Exit Triggers
EXITIF BAC reaches $58 or drops below $54.17 → THEN close bull call spread
EXITIF BAC breaks below $54.17 → THEN close put credit spread

Tactical Summary

BAC bullish to $57.5-$58, support $54.17. Top plays: bull call spread for upside, put credit spread for income. Manage exits at $58 or below $54.17.
How to Use These Reports
This directional reflects the market close on June 18, 2026.
What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.