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 15 uncommon options trades for Wells Fargo.
This isn't normal.
The overall sentiment of these big-money traders is split between 13% bullish and 73%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $255,590, and 8 are calls, for a total amount of $1,700,643.
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 $55.0 and $95.0 for Wells Fargo, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $55.0 to $95.0 in the last 30 days.
Wells Fargo Option Activity Analysis: Last 30 Days
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 | TRADE | BEARISH | 01/17/25 | $6.75 | $6.65 | $6.65 | $65.00 | $1.2M | 20.5K | 2.6K |
| WFC | CALL | SWEEP | BEARISH | 04/17/25 | $1.97 | $1.96 | $1.96 | $80.00 | $245.1K | 2.3K | 1.5K |
| WFC | PUT | SWEEP | BEARISH | 03/21/25 | $6.8 | $6.7 | $6.8 | $75.00 | $50.3K | 1.3K | 76 |
| WFC | PUT | SWEEP | BEARISH | 03/21/25 | $5.25 | $5.2 | $5.24 | $72.50 | $50.3K | 1.1K | 206 |
| WFC | CALL | SWEEP | BULLISH | 04/17/25 | $1.99 | $1.95 | $2.0 | $80.00 | $50.0K | 2.3K | 265 |
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.
After a thorough review of the options trading surrounding Wells Fargo, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Wells Fargo
- Trading volume stands at 7,607,250, with WFC's price up by 3.07%, positioned at $70.97.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 26 days.
Expert Opinions 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 $80.8.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Goldman Sachs has decided to maintain their Buy rating on Wells Fargo, which currently sits at a price target of $82. * Maintaining their stance, an analyst from Compass Point continues to hold a Neutral rating for Wells Fargo, targeting a price of $83. * An analyst from Keefe, Bruyette & Woods has decided to maintain their Market Perform rating on Wells Fargo, which currently sits at a price target of $79. * An analyst from UBS has decided to maintain their Buy rating on Wells Fargo, which currently sits at a price target of $85. * Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Wells Fargo with a target price of $75.
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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