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BAC

Bank of America CorporationClose $58.19EOD only
Max Pain
$56.00
Next expiry Jun 26, 2026
Expected Move
±$0.61
1.1% from close
Price Gap
-2.19
Distance to max pain
IV Rank
4
Low premium
P/C OI
1.11
Slightly put-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: Jun 25, 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 25, 2026 close
BAC Earnings Report
Analysis based on market close June 26, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

BAC earnings 7/14: strong bullish flow, 100% beat rate, spot above max pain $57. Upside bias with IV crush expected.

Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.5% from MP; +0.5 VIX 18
Most important: Large call volume at $58/$59 strikes and net premium positive indicate bullish positioning ahead of earnings.
🚀Call-heavy flow and net premium +$16.8M suggest bullish sentiment.
💀Deep OTM put activity warns of downside hedging despite bullish flow.
⚖️Max pain $57 pins spot; watch for pinning dynamics near earnings.

Regime Classification

Vol Regime
Normal
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Above
Gamma flip: ~$50.00 — Approx — based on put OI concentration of 51,353 (13.6% below spot)

Earnings Overview

Next earnings: 2026-07-14 (18 days)explicit

Expected moves:

  • 2026-07-02 (6d): ±$1.23 (2.1%)
  • 2026-07-10 (14d): ±$1.80 (3.1%)
  • 2026-07-17 (21d): ±$2.97 (5.1%)

IV Setup

Term structure: Near-term IV elevated with 5% expected move by ER; longer-dated skew elevated.

Crush estimate: 15-20% post-earnings IV crush.

Skew: Put skew steeper on long-dated expirations, reflecting hedging demand.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Average +2.3% vs expected move (beat-driven).

Directional bias: Bullish post-ER (100% beat rate).

Key Levels

1$50.00 gamma flip
2EM guardrails: 1w $56.65/$59.11
3Max pain pins: $57 (2026-06-26); $57 (2026-07-02); $55 (2026-07-10)

Flow Highlights

Heavy call volume on 7/2 $58 and $59 strikes (8058 and 7921 contracts) with high OI.

Aggressive upside positioning ahead of earnings; possibly delta hedging or directional bets.

Unusual deep OTM put activity: 7/2 $51.50 put (14.8x vol/OI) and 7/10 $53 put (3.2x).

Protective or speculative downside hedges, despite overall bullish flow.

Strategies

Bull Call Spread
Buy 2026-07-17 $57.50/$60.00 call spread
Debit: $0.95-$1.17
Max loss: $1.17
Max gain: $1.33
BE: $58.67
Trigger: Close at earnings or below $57.
Defined risk, capital efficient, aligns with bullish flow and 100% beat rate.
Outperforms: Buy 57.5/60 call spread for upside with limited loss.
Underperforms: Loss of support weakens upside continuation thesis.
Long Call
Buy 2026-07-17 $57.50 call
Debit: $1.54-$1.88
Max loss: $1.88
Max gain: Unlimited
BE: $59.38
Trigger: Set stop-loss below $57; take profits pre-earnings.
Unlimited upside potential but higher cost and risk.
Outperforms: Buy 57.5 call for pure directional bet.
Underperforms: Failure at support and IV crush weaken long-call thesis.

Risk Assessment

!Market-wide volatility (SPY -0.72%) could pressure BAC.
!Historical beat rate perfect but miss would trigger sharp reversal.
!Gamma flip risk below $57 max pain; put OI heavy there.

What to Watch

?EM guardrails $56.65-$59.11; break above $60 could trigger gamma squeeze.
?Earnings expectations and bank sector peers.
?Open interest changes near $57 and $58 strikes.
How to Use These Reports
This earnings reflects the market close on June 26, 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.