Spotlight on Wells Fargo: Analyzing the Surge in Options Activity

Financial giants have made a conspicuous bearish move on Wells Fargo. Our analysis of options history for Wells Fargo WFC revealed 14 unusual trades.

Delving into the details, we found 35% of traders were bullish, while 64% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $245,892, and 12 were calls, valued at $922,846.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $55.0 for Wells Fargo over the last 3 months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Wells Fargo's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Wells Fargo's significant trades, within a strike price range of $50.0 to $55.0, over the past month.

Wells Fargo Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

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.

Having examined the options trading patterns of Wells Fargo, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Wells Fargo's Current Market Status

• With a trading volume of 5,796,449, the price of WFC is up by 0.76%, reaching $53.77.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 49 days from now.

Professional Analyst Ratings for Wells Fargo

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $63.0.

• An analyst from Morgan Stanley has decided to maintain their Overweight rating on Wells Fargo, which currently sits at a price target of $63.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Wells Fargo, Benzinga Pro gives you real-time options trades alerts.