A Closer Look at Wells Fargo's Options Market Dynamics

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Deep-pocketed investors have adopted a bearish 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 21 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 38% leaning bullish and 47% bearish. Among these notable options, 13 are puts, totaling $732,013, and 8 are calls, amounting to $426,170.

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 $50.0 and $65.0 for Wells Fargo, spanning the last three months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Wells Fargo's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Wells Fargo's significant trades, within a strike price range of $50.0 to $65.0, over the past month.

Wells Fargo Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
WFC PUT TRADE NEUTRAL 09/20/24 $1.8 $1.78 $1.79 $57.50 $143.2K 5.6K 800
WFC CALL SWEEP BEARISH 07/19/24 $1.15 $1.14 $1.14 $62.50 $102.9K 9.9K 952
WFC CALL SWEEP BEARISH 01/17/25 $4.1 $4.0 $4.05 $62.50 $70.8K 3.6K 197
WFC PUT SWEEP BULLISH 01/17/25 $1.28 $1.25 $1.25 $50.00 $60.1K 11.4K 502
WFC PUT SWEEP BULLISH 07/19/24 $5.4 $5.35 $5.36 $65.00 $58.8K 708 224

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

Current Position of Wells Fargo

  • Currently trading with a volume of 6,264,249, the WFC's price is down by -0.35%, now at $60.0.
  • RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
  • Anticipated earnings release is in 45 days.

What Analysts Are Saying About Wells Fargo

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $61.5.

  • An analyst from JP Morgan has decided to maintain their Neutral rating on Wells Fargo, which currently sits at a price target of $61.

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.

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Posted In: OptionsMarketsBZI-UOA
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