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 positions 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.
Today, Benzinga's options scanner spotted 8 options trades for Wells Fargo.
This isn't normal.
The overall sentiment of these big-money traders is split between 37% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $26,775, and 7, calls, for a total amount of $276,497.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $56.0 for Wells Fargo over the recent three months.
Volume & Open Interest Trends
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 $40.0 to $56.0 in the last 30 days.
Wells Fargo Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WFC | CALL | TRADE | NEUTRAL | 09/20/24 | $0.5 | $0.48 | $0.49 | $55.00 | $61.2K | 12.0K | 1.7K |
| WFC | CALL | SWEEP | BEARISH | 09/27/24 | $4.95 | $4.9 | $4.9 | $50.00 | $49.0K | 282 | 251 |
| WFC | CALL | SWEEP | BEARISH | 10/04/24 | $1.83 | $1.8 | $1.8 | $54.00 | $36.0K | 1.1K | 24 |
| WFC | CALL | SWEEP | BULLISH | 09/20/24 | $2.98 | $2.89 | $2.97 | $52.00 | $35.7K | 2.3K | 125 |
| WFC | CALL | SWEEP | BULLISH | 10/04/24 | $0.68 | $0.67 | $0.68 | $56.00 | $34.1K | 320 | 517 |
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.
Having examined the options trading patterns of Wells Fargo, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Wells Fargo's Current Market Status
- Currently trading with a volume of 2,725,452, the WFC's price is down by -0.06%, now at $54.48.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 23 days.
What The Experts Say On Wells Fargo
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $65.0.
- Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Wells Fargo with a target price of $65.
- An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Wells Fargo, which currently sits at a price target of $65.
- An analyst from Deutsche Bank has elevated its stance to Buy, setting a new price target at $65.
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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