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 23 trades.
If we consider the specifics of each trade, it is accurate to state that 26% of the investors opened trades with bullish expectations and 52% with bearish.
From the overall spotted trades, 11 are puts, for a total amount of $823,066 and 12, calls, for a total amount of $518,846.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $47.0 to $70.0 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 $47.0 to $70.0 in the last 30 days.
Wells Fargo 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WFC | PUT | TRADE | BULLISH | 10/25/24 | $0.6 | $0.51 | $0.53 | $47.00 | $265.0K | 0 | 0 |
| WFC | PUT | TRADE | BULLISH | 09/20/24 | $0.8 | $0.77 | $0.77 | $52.50 | $115.5K | 13.9K | 75 |
| WFC | PUT | TRADE | NEUTRAL | 09/20/24 | $0.65 | $0.63 | $0.64 | $52.00 | $96.0K | 868 | 1.5K |
| WFC | CALL | SWEEP | BEARISH | 11/15/24 | $4.65 | $4.6 | $4.6 | $50.00 | $77.2K | 2.9K | 254 |
| WFC | CALL | SWEEP | BULLISH | 10/18/24 | $2.71 | $2.65 | $2.65 | $52.50 | $75.8K | 826 | 288 |
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.
Where Is Wells Fargo Standing Right Now?
- With a trading volume of 4,967,915, the price of WFC is down by -2.33%, reaching $52.7.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 30 days from now.
Expert Opinions on Wells Fargo
In the last month, 2 experts released ratings on this stock with an average target price of $65.0.
- An analyst from Deutsche Bank has elevated its stance to Buy, setting a new price target at $65.
- Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Wells Fargo, targeting a price of $65.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Wells Fargo options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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