Whales with a lot of money to spend have taken a noticeably bearish stance on Wells Fargo.
Looking at options history for Wells Fargo WFC we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $351,182 and 3, calls, for a total amount of $147,352.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $57.5 to $70.0 for Wells Fargo over the recent three months.
Insights into 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 $57.5 to $70.0 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 | BULLISH | 01/17/25 | $1.24 | $1.03 | $1.24 | $70.00 | $62.2K | 11.9K | 500 |
| WFC | CALL | SWEEP | BEARISH | 12/20/24 | $5.4 | $5.3 | $5.3 | $57.50 | $58.3K | 2.0K | 1 |
| WFC | PUT | SWEEP | BULLISH | 10/18/24 | $4.0 | $3.85 | $3.85 | $62.50 | $47.3K | 3.2K | 246 |
| WFC | PUT | SWEEP | BEARISH | 10/18/24 | $5.9 | $5.8 | $5.86 | $65.00 | $45.1K | 1.2K | 231 |
| WFC | PUT | TRADE | BEARISH | 10/18/24 | $5.85 | $5.75 | $5.82 | $65.00 | $44.8K | 1.2K | 77 |
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.
Present Market Standing of Wells Fargo
- With a volume of 3,090,364, the price of WFC is down -0.02% at $59.99.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 72 days.
What The Experts Say On Wells Fargo
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $63.8.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Wells Fargo with a target price of $68.
- Consistent in their evaluation, an analyst from BMO Capital keeps a Market Perform rating on Wells Fargo with a target price of $59.
- Maintaining their stance, an analyst from Keefe, Bruyette & Woods continues to hold a Market Perform rating for Wells Fargo, targeting a price of $61.
- An analyst from Jefferies persists with their Hold rating on Wells Fargo, maintaining a target price of $64.
- An analyst from Evercore ISI Group downgraded its action to Outperform with a price target 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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