Financial giants have made a conspicuous bearish move on Wells Fargo. Our analysis of options history for Wells Fargo WFC revealed 11 unusual trades.
Delving into the details, we found 27% of traders were bullish, while 45% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $300,870, and 7 were calls, valued at $327,805.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $45.0 and $70.0 for Wells Fargo, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Wells Fargo stands at 8544.7, with a total volume reaching 8,874.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Wells Fargo, situated within the strike price corridor from $45.0 to $70.0, throughout the last 30 days.
Wells Fargo Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WFC | PUT | TRADE | BULLISH | 12/20/24 | $3.35 | $3.3 | $3.3 | $55.00 | $151.8K | 5.0K | 476 |
| WFC | CALL | SWEEP | BEARISH | 10/18/24 | $0.21 | $0.2 | $0.2 | $60.00 | $88.9K | 15.4K | 4.4K |
| WFC | CALL | TRADE | BULLISH | 12/20/24 | $4.05 | $4.0 | $4.05 | $52.50 | $74.9K | 2.1K | 294 |
| WFC | PUT | TRADE | NEUTRAL | 09/27/24 | $0.86 | $0.84 | $0.85 | $55.00 | $74.1K | 4.6K | 1.6K |
| WFC | CALL | TRADE | BEARISH | 01/17/25 | $10.05 | $10.0 | $10.0 | $45.00 | $44.0K | 16.6K | 63 |
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.
After a thorough review of the options trading surrounding Wells Fargo, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Wells Fargo's Current Market Status
- Currently trading with a volume of 6,980,596, the WFC's price is down by -2.38%, now at $53.8.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 17 days.
What The Experts Say On Wells Fargo
3 market experts have recently issued ratings for this stock, with a consensus target price of $65.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Wells Fargo with a target price of $65. * Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Wells Fargo, targeting a price of $65. * In a positive move, an analyst from Deutsche Bank has upgraded their rating to Buy and adjusted the price target to $65.
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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