Investors with a lot of money to spend have taken a bullish 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 9 uncommon options trades for Wells Fargo.
This isn't normal.
The overall sentiment of these big-money traders is split between 55% bullish and 44%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $216,948, and 6 are calls, for a total amount of $880,643.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $37.5 to $52.5 for Wells Fargo during the past quarter.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Wells Fargo's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Wells Fargo's substantial trades, within a strike price spectrum from $37.5 to $52.5 over the preceding 30 days.
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 | CALL | TRADE | BULLISH | 09/20/24 | $50.00 | $633.0K | 5.3K | 3.0K |
| WFC | PUT | SWEEP | BEARISH | 01/17/25 | $52.50 | $95.5K | 662 | 0 |
| WFC | PUT | SWEEP | BEARISH | 04/19/24 | $42.50 | $79.1K | 7.1K | 540 |
| WFC | CALL | SWEEP | BEARISH | 09/20/24 | $47.50 | $75.3K | 1.5K | 272 |
| WFC | CALL | SWEEP | BULLISH | 09/20/24 | $37.50 | $63.7K | 573 | 71 |
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.
Current Position of Wells Fargo
- With a trading volume of 5,437,289, the price of WFC is down by -0.58%, reaching $44.86.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 38 days from now.
Expert Opinions on Wells Fargo
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $52.0.
- An analyst from Goldman Sachs persists with their Buy rating on Wells Fargo, maintaining a target price of $50.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Wells Fargo with a target price of $54.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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