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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with WFC, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 22 options trades for Wells Fargo.
This isn't normal.
The overall sentiment of these big-money traders is split between 86% bullish and 13%, bearish.
Out of all of the options we uncovered, 21 are puts, for a total amount of $1,304,882, and there was 1 call, for a total amount of $41,500.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $45.0 to $55.0 for Wells Fargo during the past quarter.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $45.0 to $55.0 in the last 30 days.
Wells Fargo Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WFC | PUT | TRADE | BULLISH | 03/15/24 | $52.50 | $80.0K | 1.5K | 130 |
| WFC | PUT | SWEEP | BULLISH | 03/15/24 | $52.50 | $79.3K | 1.5K | 380 |
| WFC | PUT | TRADE | BULLISH | 03/15/24 | $52.50 | $79.3K | 1.5K | 130 |
| WFC | PUT | SWEEP | BULLISH | 03/15/24 | $52.50 | $78.0K | 1.5K | 1.0K |
| WFC | PUT | SWEEP | BULLISH | 03/15/24 | $52.50 | $76.8K | 1.5K | 662 |
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.
Wells Fargo's Current Market Status
- Trading volume stands at 1,563,110, with WFC's price down by -0.95%, positioned at $46.95.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 87 days.
Professional Analyst Ratings for Wells Fargo
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $57.5.
- An analyst from Raymond James has decided to maintain their Strong Buy rating on Wells Fargo, which currently sits at a price target of $58.
- Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Wells Fargo with a target price of $66.
- An analyst from Baird downgraded its action to Neutral with a price target of $55.
- An analyst from Deutsche Bank has revised its rating downward to Hold, adjusting the price target to $51.
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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