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 16 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 25% leaning bullish and 75% bearish. Among these notable options, 3 are puts, totaling $132,282, and 13 are calls, amounting to $1,778,042.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $62.5 for Wells Fargo during the past quarter.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $40.0 to $62.5 in the last 30 days.
Wells Fargo Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WFC | CALL | SWEEP | BEARISH | 01/17/25 | $45.00 | $591.6K | 17.7K | 504 |
| WFC | CALL | SWEEP | BULLISH | 12/20/24 | $47.50 | $245.6K | 28 | 243 |
| WFC | CALL | TRADE | BULLISH | 09/20/24 | $40.00 | $155.5K | 1.6K | 200 |
| WFC | CALL | TRADE | BEARISH | 09/20/24 | $40.00 | $154.5K | 1.6K | 100 |
| WFC | CALL | TRADE | BEARISH | 05/17/24 | $57.50 | $145.0K | 3.1K | 1.2K |
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.
After a thorough review of the options trading surrounding Wells Fargo, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Wells Fargo Standing Right Now?
- Currently trading with a volume of 5,814,214, the WFC's price is up by 0.09%, now at $54.18.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 45 days.
What Analysts Are Saying About 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 persists with their Overweight rating on Wells Fargo, maintaining a target price 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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