Spotlight on Wells Fargo: Analyzing the Surge in Options Activity

High-rolling investors have positioned themselves bullish 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 9 options trades for Wells Fargo. This is not a typical pattern.

The sentiment among these major traders is split, with 55% bullish and 44% bearish. Among all the options we identified, there was one put, amounting to $25,228, and 8 calls, totaling $1,017,852.

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 $35.0 to $60.0 for Wells Fargo during the past quarter.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Wells Fargo stands at 7366.71, with a total volume reaching 2,372.00. 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 $35.0 to $60.0, throughout 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 Ask Bid Price Strike Price Total Trade Price Open Interest Volume
WFC CALL TRADE BULLISH 04/19/24 $12.85 $12.75 $12.85 $45.00 $257.0K 2.3K 300
WFC CALL TRADE BEARISH 01/17/25 $24.3 $22.9 $23.4 $35.00 $234.0K 2.9K 100
WFC CALL SWEEP BULLISH 01/17/25 $5.2 $5.15 $5.15 $60.00 $193.1K 20.7K 425
WFC CALL TRADE BULLISH 06/21/24 $13.5 $12.5 $13.15 $45.00 $131.5K 12.8K 100
WFC CALL SWEEP BEARISH 04/19/24 $12.85 $12.8 $12.8 $45.00 $112.6K 2.3K 388

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.

Following our analysis of the options activities associated with Wells Fargo, we pivot to a closer look at the company's own performance.

Where Is Wells Fargo Standing Right Now?

  • Currently trading with a volume of 3,333,101, the WFC's price is up by 0.61%, now at $57.48.
  • RSI readings suggest the stock is currently may be approaching overbought.
  • Anticipated earnings release is in 8 days.

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.

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Posted In: OptionsMarketsBZI-UOA
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