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 19 uncommon options trades for Wells Fargo.
This isn't normal.
The overall sentiment of these big-money traders is split between 36% bullish and 63%, bearish.
Out of all of the special options we uncovered, 13 are puts, for a total amount of $855,528, and 6 are calls, for a total amount of $210,189.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $22.5 to $47.5 for Wells Fargo over the last 3 months.
Insights into 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 $22.5 to $47.5 in 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 | SWEEP | BULLISH | 03/15/24 | $42.50 | $180.9K | 6.2K | 971 |
| WFC | PUT | SWEEP | BEARISH | 01/19/24 | $42.50 | $134.8K | 30.6K | 1.2K |
| WFC | PUT | TRADE | BEARISH | 01/17/25 | $45.00 | $108.3K | 15.1K | 190 |
| WFC | PUT | SWEEP | BULLISH | 04/19/24 | $47.50 | $104.0K | 256 | 0 |
| WFC | PUT | TRADE | BULLISH | 01/19/24 | $45.00 | $60.2K | 53.4K | 246 |
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.
In light of the recent options history for Wells Fargo, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Wells Fargo Standing Right Now?
- With a trading volume of 10,707,215, the price of WFC is up by 3.23%, reaching $42.09.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 59 days from now.
Expert Opinions on Wells Fargo
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $54.0.
- An analyst from BMO Capital has decided to maintain their Market Perform rating on Wells Fargo, which currently sits at a price target of $54.
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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