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 13 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 30% leaning bullish and 53% bearish. Among these notable options, 4 are puts, totaling $111,524, and 9 are calls, amounting to $588,098.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $65.0 for Wells Fargo over the recent three months.
Analyzing Volume & Open Interest
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 $65.0 in the last 30 days.
Wells Fargo 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WFC | CALL | SWEEP | BEARISH | 06/20/25 | $23.5 | $21.0 | $21.0 | $40.00 | $210.0K | 2.6K | 0 |
| WFC | CALL | SWEEP | BULLISH | 08/16/24 | $0.59 | $0.56 | $0.6 | $65.00 | $66.0K | 11.0K | 6 |
| WFC | CALL | SWEEP | BEARISH | 07/05/24 | $3.2 | $2.83 | $3.07 | $57.00 | $63.9K | 1.9K | 0 |
| WFC | CALL | SWEEP | BULLISH | 07/05/24 | $3.15 | $2.86 | $3.13 | $57.00 | $57.2K | 1.9K | 200 |
| WFC | CALL | SWEEP | BEARISH | 07/19/24 | $2.88 | $2.85 | $2.85 | $58.00 | $49.8K | 1.3K | 9 |
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.
Following our analysis of the options activities associated with Wells Fargo, we pivot to a closer look at the company's own performance.
Current Position of Wells Fargo
- With a trading volume of 5,591,881, the price of WFC is up by 1.62%, reaching $60.35.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 11 days from now.
Expert Opinions on Wells Fargo
In the last month, 1 experts released ratings on this stock with an average target price of $70.0.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Wells Fargo with a target price of $70.
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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