Decoding Wells Fargo's Options Activity: What's the Big Picture?

Deep-pocketed investors have adopted a bearish approach towards Wells Fargo WFC, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in WFC usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 55 extraordinary options activities for Wells Fargo. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 38% leaning bullish and 61% bearish. Among these notable options, 20 are puts, totaling $1,905,046, and 35 are calls, amounting to $2,931,738.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $37.5 to $55.0 for Wells Fargo during the past quarter.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Wells Fargo's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Wells Fargo's whale trades within a strike price range from $37.5 to $55.0 in the last 30 days.

Wells Fargo 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About Wells Fargo

Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company has four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.

In light of the recent options history for Wells Fargo, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Wells Fargo

• With a trading volume of 13,395,607, the price of WFC is up by 0.49%, reaching $49.36.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 79 days from now.

What The Experts Say On Wells Fargo

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $55.56.

• Maintaining their stance, an analyst from Raymond James continues to hold a Strong Buy rating for Wells Fargo, targeting a price of $58.
• An analyst from Barclays persists with their Overweight rating on Wells Fargo, maintaining a target price of $66.
• An analyst from Odeon Capital downgraded its action to Hold with a price target of $48.
• An analyst from Baird downgraded its action to Neutral with a price target of $55.
• An analyst from Piper Sandler has decided to maintain their Neutral rating on Wells Fargo, which currently sits at a price target of $50.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Wells Fargo with Benzinga Pro for real-time alerts.