Bearish Sentiment Dominates as Financial Giants Take Aim at Wells Fargo: Unusual Options Trades Detected

Financial giants have made a conspicuous bearish move on Wells Fargo. Our analysis of options history for Wells Fargo WFC revealed 12 unusual trades.

Delving into the details, we found 16% of traders were bullish, while 83% showed bearish tendencies. Out of all the trades we spotted, 10 were puts, with a value of $835,520, and 2 were calls, valued at $75,840.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $35.0 and $55.0 for Wells Fargo, spanning the last three months.

Analyzing Volume & Open Interest

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 $35.0 to $55.0 in the last 30 days.

Wells Fargo 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

Present Market Standing of Wells Fargo

• Trading volume stands at 11,873,591, with WFC's price up 0.02%, positioned at $41.05. RSI indicators show the stock to be may be approaching overbought. Earnings announcement expected in 65 days.

Expert Opinions on Wells Fargo:

• BMO Capital has decided to maintain their Market Perform rating on Wells Fargo, which currently sits at a price target of $54.

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.