Wells Fargo Whale Trades For July 06

Someone with a lot of money to spend has taken a bullish stance on Wells Fargo WFC.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with WFC, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 50 uncommon options trades for Wells Fargo.

This isn't normal.

The overall sentiment of these big-money traders is split between 54% bullish and 46%, bearish.

Out of all of the special options we uncovered, 48 are puts, for a total amount of $1,878,560, and 2 are calls, for a total amount of $96,470.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $27.5 to $52.5 for Wells Fargo over the last 3 months.

Volume & Open Interest Development

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 $27.5 to $52.5 in the last 30 days.

Wells Fargo Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
WFC PUT SWEEP BEARISH 11/18/22 $52.50 $112.5K 154 81
WFC PUT SWEEP BEARISH 01/20/23 $27.50 $93.0K 10.3K 1.0K
WFC PUT TRADE BEARISH 01/20/23 $27.50 $69.7K 10.3K 2.7K
WFC CALL TRADE BULLISH 01/20/23 $45.00 $68.2K 16.4K 413
WFC PUT SWEEP BULLISH 09/16/22 $42.50 $66.7K 7.2K 150

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
WFC PUT SWEEP BEARISH 11/18/22 $52.50 $112.5K 154 81
WFC PUT SWEEP BEARISH 01/20/23 $27.50 $93.0K 10.3K 1.0K
WFC PUT TRADE BEARISH 01/20/23 $27.50 $69.7K 10.3K 2.7K
WFC CALL TRADE BULLISH 01/20/23 $45.00 $68.2K 16.4K 413
WFC PUT SWEEP BULLISH 09/16/22 $42.50 $66.7K 7.2K 150

Where Is Wells Fargo Standing Right Now?

  • With a volume of 9,144,084, the price of WFC is down -2.33% at $39.16.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 9 days.

What The Experts Say On Wells Fargo:

  • Raymond James has decided to maintain their Outperform rating on Wells Fargo, which currently sits at a price target of $50.
  • RBC Capital has decided to maintain their Sector Perform rating on Wells Fargo, which currently sits at a price target of $45.

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.

Posted In: BZI-UOAOptionsMarkets

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