High-rolling investors have positioned themselves bullish on Wells Fargo WFC, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in WFC often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 11 options trades for Wells Fargo. This is not a typical pattern.
The sentiment among these major traders is split, with 54% bullish and 45% bearish. Among all the options we identified, there was one put, amounting to $47,595, and 10 calls, totaling $979,495.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $37.5 and $66.0 for Wells Fargo, spanning the last three months.
Volume & Open Interest Development
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 $37.5 to $66.0 in the last 30 days.
Wells Fargo 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WFC | CALL | TRADE | BULLISH | 01/17/25 | $21.3 | $21.15 | $21.3 | $37.50 | $213.0K | 7.2K | 100 |
| WFC | CALL | SWEEP | BULLISH | 01/17/25 | $3.0 | $2.99 | $3.0 | $65.00 | $208.2K | 12.5K | 912 |
| WFC | CALL | TRADE | BULLISH | 09/20/24 | $15.8 | $15.65 | $15.8 | $42.50 | $158.0K | 2.3K | 0 |
| WFC | CALL | TRADE | BULLISH | 06/21/24 | $12.8 | $12.75 | $12.8 | $45.00 | $128.0K | 12.4K | 0 |
| WFC | CALL | SWEEP | BEARISH | 01/16/26 | $13.5 | $13.4 | $13.4 | $50.00 | $69.6K | 3.7K | 0 |
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.
Where Is Wells Fargo Standing Right Now?
- Trading volume stands at 1,737,066, with WFC's price up by 1.25%, positioned at $57.9.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 85 days.
What The Experts Say On Wells Fargo
5 market experts have recently issued ratings for this stock, with a consensus target price of $65.0.
- Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Wells Fargo with a target price of $65.
- In a cautious move, an analyst from Citigroup downgraded its rating to Neutral, setting a price target of $63.
- An analyst from Argus Research persists with their Buy rating on Wells Fargo, maintaining a target price of $66.
- An analyst from Compass Point has revised its rating downward to Neutral, adjusting the price target to $64.
- Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Wells Fargo, targeting a price of $67.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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