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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 Earnings Report
Analysis based on market close June 18, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Bullish flow + 100% beat rate, but IV elevated. Key: $55-57 pin.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 7.0% from MP; +1 VIX 16
Most important: Net call premium $20M; put OI ratio 1.36 suggests hedging.
🐻Deep OTM puts signal downside hedge.
🐂Long-dated calls show bullish conviction.
⚠️Pinning risk near $57.

Regime Classification

Vol Regime
Normal
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Above
Gamma flip: ~$47.00 — Approx — based on put OI concentration of 104,983 (16.4% below spot)

Earnings Overview

Next earnings: 2026-07-14 (26 days)explicit

Expected moves:

  • 2026-06-26 (8d): ±$1.45 (2.6%)
  • 2026-07-02 (14d): ±$2.03 (3.6%)
  • 2026-07-10 (22d): ±$2.45 (4.4%)

IV Setup

Term structure: Term normal, back-end high due to earnings.

Crush estimate: Post-earnings crush ~30-50%.

Skew: Put OI ratio 1.36; downside hedging present.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Beat rate 100%, moves often exceed implied.

Directional bias: Bullish from flow and history.

Key Levels

1$47.00 gamma flip
2EM guardrails: 1w $54.76/$57.65
3Max pain pins: $52 (2026-06-18); $55 (2026-06-26); $53 (2026-07-02)

Flow Highlights

Massive $58 calls and $57 puts near expiry.

Gamma pinning around $57.

Deep OTM puts ($48) and long-dated calls ($39).

Mixed hedging: tail risk vs long conviction.

Strategies

Call Diagonal
Sell 2026-07-10 $57.00 call / buy 2026-07-24 $55.00 call
Debit: $1.61-$1.96
Max loss: $1.96
Max gain: Variable
BE: Path-dependent
Trigger: Exit if price breaches $54.17; adjust if IV spikes.
Best aligns with bullish bias and high beat rate; captures IV crush and vol contraction post-earnings.
Outperforms: Sell near-term $57 call, buy longer-dated $55 call for directional move and vol decay.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Iron Condor
Sell 2026-07-10 $55.00/$54.00 put wing and $57.00/$58.00 call wing
Credit: $0.54-$0.65
Max loss: $0.35
Max gain: $0.65
BE: 54.35 / 57.65
Trigger: Close if price breaks $54 or $58; manage gamma near $57.
Exploits elevated IV and pin area $55-57; defined wings limit gap risk.
Outperforms: Sell $55/$54 put spread and $57/$58 call spread to collect premium in expected range.
Underperforms: Move outside short strikes invalidates range thesis.
Bull call spread
Buy 2026-07-17 $55.00/$57.50 call spread
Debit: $1.19-$1.46
Max loss: $1.46
Max gain: $1.04
BE: $56.46
Elevated IV allows cheap short call; high beat rate supports move to $57.
Outperforms: Bullish on BAC earnings: 100% beat rate, bullish flow; capped upside defined risk.
Underperforms: Loss of support weakens upside continuation thesis.

Risk Assessment

!Earnings gap risk (±4.4%)
!IV crush post-earnings
!Gamma squeeze near $57

What to Watch

?$57.65 guardrail (1w)
?$54.17 support
?OHMC gamma flip at $47
How to Use These Reports
This earnings 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.