Deep-pocketed investors have adopted a bearish approach towards Wells Fargo WFC, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in WFC usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 19 extraordinary options activities for Wells Fargo. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 31% leaning bullish and 68% bearish. Among these notable options, 16 are puts, totaling $765,336, and 3 are calls, amounting to $108,595.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $37.5 to $52.5 for Wells Fargo over the last 3 months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Wells Fargo's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Wells Fargo's significant trades, within a strike price range of $37.5 to $52.5, over the past month.
Wells Fargo 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WFC | PUT | SWEEP | BULLISH | 01/17/25 | $52.50 | $113.6K | 523 | 113 |
| WFC | PUT | SWEEP | BEARISH | 01/19/24 | $42.50 | $83.1K | 40.2K | 3.2K |
| WFC | PUT | TRADE | BEARISH | 04/19/24 | $37.50 | $60.3K | 3.7K | 1.4K |
| WFC | PUT | SWEEP | BULLISH | 04/19/24 | $37.50 | $59.2K | 3.7K | 707 |
| WFC | PUT | SWEEP | BEARISH | 02/16/24 | $45.00 | $48.8K | 850 | 306 |
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.
Current Position of Wells Fargo
- Trading volume stands at 9,475,957, with WFC's price down by -0.02%, positioned at $42.91.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 46 days.
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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