Bradesco Put Options Surge as CLO's $2M Buy Fades
Bradesco's CLO bought 110,400 shares for $1,998,240 in July 2026, but two consecutive EPS misses of -6.3% and -6.0% have since arrived while put options against the stock surge. With short interest at
Bradesco Put Options Surge as CLO's $2M Buy Fades
NEW YORK, September 1 —
Banco Bradesco S.A. (BBD)'s chief legal officer holds a $2 million open-market position as put options against the stock surge, per MarketBeat. Three EPS misses in the last four quarters give the derivatives market its footing, and the tape has not rewarded the insider's conviction.
- CLO Julio Cesar Bueno bought 110,400 shares at $18.10 on July 1, 2026, totaling $1,998,240, per Form 4 filings.
- Back-to-back EPS misses of -6.3% and -6.0% in the two most recent reported quarters.
The Conviction Buy, Two Months On
Julio Cesar Bueno, Bradesco's CLO and executive officer, spent $1,998,240 buying 110,400 shares at $18.10 apiece on July 1, 2026, per Form 4 filings. The open-market buy signals conviction about a turnaround. Bradesco is a Brazilian bancassurance group with a banking franchise covering deposits, loans, credit cards, and corporate finance, plus an insurance arm offering life, health, and pension products. The bank employs 68,814 people and posted $93.28 billion in trailing-twelve-month revenue. Two straight EPS misses have followed the CLO's purchase, an expensive wait so far.
The Lone Beat Was a Blip
In four reported quarters, Bradesco has managed three EPS misses and one beat. The lone positive surprise, +7.4% in the second-most-recent period, appeared between a -6.3% miss and a -6.0% miss, an outlier, not a trend reversal. Revenue is growing at 7.2% year-over-year, but earnings keep falling short of consensus estimates. At 5.9x forward earnings, the market prices Bradesco as though recovery is uncertain rather than probable, and investors testing that multiple against peers can check the math with a P/E calculator.
| Ticker | Mkt cap | Fwd P/E | 52-wk |
|---|---|---|---|
| BBD | $35.2B | 5.9x | +8.6% |
| ITUB | $84.9B | 7.7x | +11.8% |
| GGB | $9.1B | 8.2x | +50.7% |
| ABEV | $44.9B | 13.6x | +31.1% |
| BSBR | $43.2B | 6.7x | +10.2% |
| SID | $1.4B | 4.2x | -25.7% |
Why the Options Market Has the Better Read
The put options surge, per MarketBeat, carries weight because conventional short sellers aren't driving it: short interest sits at just 0.2% of float, leaving the options market as the primary bearish vehicle. Analyst consensus targets $4.55 per BBD ADR, roughly 39% above current levels, but reaching that requires a margin recovery the recent earnings record has not delivered. The bearish case breaks when an EPS result shows the -6% gap closing; until then, the derivatives market holds the better read. Run the free Banco Bradesco S.A. deep-dive →
Basis Report is independent research for informational purposes. It is not investment advice and not a recommendation to buy or sell any security.
Frequently Asked Questions
Did a Bradesco insider buy shares in 2026?
Julio Cesar Bueno, Bradesco's CLO and executive officer, bought 110,400 shares at $18.10 each on July 1, 2026, totaling $1,998,240, per Form 4 filings. An open-market purchase, unlike a stock grant, requires personal capital — Bueno's was $1,998,240.
Why are put options on Bradesco rising?
Bradesco has posted three EPS misses in the last four quarters, including back-to-back misses of -6.3% and -6.0%, giving the derivatives market its footing. Short interest sits at just 0.2% of float, making the options market the primary bearish mechanism rather than conventional short selling.
What is the analyst price target for Bradesco ADRs?
Analyst consensus targets $4.55 per BBD ADR, roughly 39% above the current price of $3.275. Reaching that target requires a margin recovery that the recent earnings record has not delivered.
How has Bradesco's recent earnings record looked?
Bradesco has managed three EPS misses and one beat across four reported quarters. The lone positive surprise, +7.4% in the second-most-recent period, appeared between a -6.3% miss and a -6.0% miss, making it an outlier, not a trend reversal.
What valuation does Bradesco trade at currently?
Bradesco trades at 5.9x forward earnings, a multiple the market applies when recovery is uncertain rather than probable. The company posted $93.28 billion in trailing-twelve-month revenue, growing at 7.2% year-over-year, but revenue growth has not translated into earnings that clear the consensus bar.
Traders are purchasing high volumes of put options against Banco Bradesco (NYSE: BBD) as of September 1, according to MarketBeat — a bearish derivatives signal that arrives while the bank's own chief legal officer holds a nearly $2 million open-market position initiated at a higher price two months earlier. The options activity adds market weight to an already-challenged earnings record: Bradesco has missed EPS estimates in three of the last four quarters.