This Is What Whales Are Betting On Wells Fargo

Deep-pocketed investors have adopted a bullish approach towards Wells Fargo WFC, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in WFC usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 36 extraordinary options activities for Wells Fargo. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 55% leaning bullish and 36% bearish. Among these notable options, 21 are puts, totaling $925,781, and 15 are calls, amounting to $761,656.

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 $40.0 to $70.0 for Wells Fargo during the past quarter.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Wells Fargo stands at 10752.79, with a total volume reaching 25,719.00. 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 $40.0 to $70.0, throughout the last 30 days.

Wells Fargo Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

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

• With a volume of 5,352,677, the price of WFC is down -0.3% at $55.23.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 9 days.

What The Experts Say On Wells Fargo

In the last month, 5 experts released ratings on this stock with an average target price of $66.0.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Wells Fargo, targeting a price of $65. * Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Wells Fargo with a target price of $67. * In a positive move, an analyst from Deutsche Bank has upgraded their rating to Buy and adjusted the price target to $65. * Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform 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 $68.

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.

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