Investors with a lot of money to spend have taken a bearish stance on Wells Fargo WFC.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with WFC, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for Wells Fargo.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $183,666, and 4 are calls, for a total amount of $205,880.
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 $55.0 to $60.0 for Wells Fargo during the past quarter.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Wells Fargo's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Wells Fargo's substantial trades, within a strike price spectrum from $55.0 to $60.0 over the preceding 30 days.
Wells Fargo Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WFC | CALL | TRADE | NEUTRAL | 04/19/24 | $57.50 | $62.0K | 61.5K | 536 |
| WFC | CALL | SWEEP | BEARISH | 03/22/24 | $57.00 | $56.8K | 2.2K | 829 |
| WFC | CALL | TRADE | NEUTRAL | 04/19/24 | $57.50 | $54.0K | 61.5K | 501 |
| WFC | PUT | SWEEP | BEARISH | 06/21/24 | $57.50 | $50.6K | 4 | 215 |
| WFC | PUT | TRADE | BULLISH | 06/21/24 | $60.00 | $49.1K | 0 | 352 |
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
Present Market Standing of Wells Fargo
- Currently trading with a volume of 1,808,898, the WFC's price is down by -0.31%, now at $54.89.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 39 days.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
