Wells Fargo Unusual Options Activity For February 06

High-rolling investors have positioned themselves bearish on Wells Fargo WFC, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in WFC often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 10 options trades for Wells Fargo. This is not a typical pattern.

The sentiment among these major traders is split, with 10% bullish and 50% bearish. Among all the options we identified, there was one put, amounting to $75,840, and 9 calls, totaling $380,690.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $70.0 and $80.0 for Wells Fargo, spanning the last three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Wells Fargo stands at 2733.67, with a total volume reaching 2,035.00. 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 $70.0 to $80.0, throughout the last 30 days.

Wells Fargo Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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 US

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.

Present Market Standing of Wells Fargo

• Currently trading with a volume of 2,397,349, the WFC's price is up by 0.47%, now at $80.43.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 64 days.

Professional Analyst Ratings for Wells Fargo

4 market experts have recently issued ratings for this stock, with a consensus target price of $87.75.

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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. * Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Wells Fargo with a target price of $85. * An analyst from Barclays persists with their Overweight rating on Wells Fargo, maintaining a target price of $92. * An analyst from Keefe, Bruyette & Woods persists with their Market Perform rating on Wells Fargo, maintaining a target price of $86. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Wells Fargo, targeting a price of $88.

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.