A whale with a lot of money to spend has taken a noticeably bearish stance on Wells Fargo.
Looking at options history for Wells Fargo WFC we detected 23 strange trades.
If we consider the specifics of each trade, it is accurate to state that 13% of the investors opened trades with bullish expectations and 86% with bearish.
From the overall spotted trades, 15 are puts, for a total amount of $1,686,541 and 8, calls, for a total amount of $536,216.
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 $30.0 to $50.0 for Wells Fargo over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Wells Fargo options trades today is 9536.55 with a total volume of 55,149.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Wells Fargo's big money trades within a strike price range of $30.0 to $50.0 over the last 30 days.
Wells Fargo Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WFC | PUT | TRADE | BEARISH | 11/17/23 | $45.00 | $360.0K | 3.5K | 1.0K |
| WFC | PUT | SWEEP | BEARISH | 11/17/23 | $42.50 | $170.9K | 19.8K | 6.1K |
| WFC | PUT | SWEEP | BEARISH | 11/17/23 | $42.50 | $169.0K | 19.8K | 8.1K |
| WFC | PUT | SWEEP | BEARISH | 11/17/23 | $42.50 | $168.3K | 19.8K | 6.1K |
| WFC | CALL | SWEEP | BULLISH | 10/27/23 | $39.00 | $159.6K | 574 | 516 |
Where Is Wells Fargo Standing Right Now?
- With a volume of 8,680,715, the price of WFC is up 1.49% at $42.27.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 87 days.
What The Experts Say 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.
- Deutsche Bank downgraded its action to Buy with a price target of $44
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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