Decoding Wells Fargo's Options Activity: What's the Big Picture?

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 23 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 52% leaning bullish and 39% bearish. Among these notable options, 9 are puts, totaling $848,580, and 14 are calls, amounting to $1,825,066.

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Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $20.0 to $90.0 for Wells Fargo during the past quarter.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Wells Fargo's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Wells Fargo's whale trades within a strike price range from $20.0 to $90.0 in the last 30 days.

Wells Fargo Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

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

• Trading volume stands at 7,036,276, with WFC's price up by 0.26%, positioned at $76.53.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 35 days.

Professional Analyst Ratings for Wells Fargo

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $87.5.

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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 Evercore ISI Group continues to hold a Outperform rating for Wells Fargo, targeting a price of $88. * An analyst from Morgan Stanley persists with their Overweight rating on Wells Fargo, maintaining a target price of $87. * An analyst from Piper Sandler has revised its rating downward to Overweight, adjusting the price target to $85. * An analyst from B of A Securities has decided to maintain their Buy rating on Wells Fargo, which currently sits at a price target of $90.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Wells Fargo with Benzinga Pro for real-time alerts.