Notable Friday Option Activity: ZS, BAC, INTC

Bank of America (BAC) and Intel (INTC) are exhibiting exceptionally high options trading volumes today, with BAC's options activity representing 50.7% of its average daily share volume and INTC's at 49.9%. Notably, BAC saw significant volume in its August 2025 $50 call options, while INTC experienced heavy trading in its August 2025 $19 put options, indicating substantial directional positioning or hedging strategies in these names.

Analysis

Bank of America (BAC) and Intel (INTC) are experiencing unusual options market activity, with today's options volume accounting for 50.7% and 49.9% of their respective average daily share volumes. This indicates a significant level of directional betting or hedging. For Bank of America, the activity is concentrated in the August 15, 2025, $50 strike call options, where 12,872 contracts have traded, suggesting a specific, long-term bullish bet on the stock surpassing the $50 mark. Conversely, Intel is seeing heavy volume in the August 01, 2025, $19 strike put options, with 17,074 contracts traded. This opposing activity points towards a strong bearish sentiment or a substantial hedging strategy being implemented against a potential price decline in Intel's stock over the same long-term horizon. The targeted nature of these large, long-dated trades suggests sophisticated positioning rather than broad, short-term speculation.

Key Decisions for Investors

• Given the significant volume in long-dated $50 call options for Bank of America, investors with a bullish thesis might see this as a signal of strong underlying conviction from a segment of the market.
• The heavy trading in long-dated $19 put options for Intel serves as a material caution, indicating that investors should assess downside risk and potentially consider hedging strategies for long positions.