Wells Fargo Unusual Options Activity For December 12

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 11 uncommon options trades for Wells Fargo.

This isn't normal.

The overall sentiment of these big-money traders is split between 36% bullish and 63%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $633,610, and 4 are calls, for a total amount of $136,505.

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 $60.0 and $80.0 for Wells Fargo, spanning the last three months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Wells Fargo stands at 1038.71, with a total volume reaching 1,773.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Wells Fargo, situated within the strike price corridor from $60.0 to $80.0, throughout the last 30 days.

Wells Fargo 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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.

In light of the recent options history for Wells Fargo, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Wells Fargo's Current Market Status

• Trading volume stands at 1,992,850, with WFC's price down by -0.18%, positioned at $71.47.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 34 days.

Expert Opinions on Wells Fargo

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $82.2.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Wells Fargo, targeting a price of $82. * Maintaining their stance, an analyst from Keefe, Bruyette & Woods continues to hold a Market Perform rating for Wells Fargo, targeting a price of $79. * An analyst from Goldman Sachs persists with their Buy rating on Wells Fargo, maintaining a target price of $82. * An analyst from UBS persists with their Buy rating on Wells Fargo, maintaining a target price of $85. * Maintaining their stance, an analyst from Compass Point continues to hold a Neutral rating for Wells Fargo, targeting a price of $83.

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.