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 21 options trades for Wells Fargo. This is not a typical pattern.
The sentiment among these major traders is split, with 66% bullish and 33% bearish. Among all the options we identified, there was one put, amounting to $25,311, and 20 calls, totaling $1,812,010.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $20.0 and $55.0 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 $20.0 to $55.0, 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 | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WFC | CALL | TRADE | BULLISH | 06/21/24 | $20.00 | $304.4K | 444 | 0 |
| WFC | CALL | SWEEP | BEARISH | 01/19/24 | $37.50 | $240.1K | 8.9K | 320 |
| WFC | CALL | SWEEP | BULLISH | 01/19/24 | $37.50 | $240.0K | 8.9K | 400 |
| WFC | CALL | SWEEP | BEARISH | 01/19/24 | $37.50 | $240.0K | 8.9K | 0 |
| WFC | CALL | SWEEP | BULLISH | 04/19/24 | $47.50 | $89.0K | 11.3K | 10 |
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.
Where Is Wells Fargo Standing Right Now?
- With a trading volume of 4,796,365, the price of WFC is up by 0.28%, reaching $49.48.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 22 days from now.
Professional Analyst Ratings for Wells Fargo
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $52.416.
- Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Wells Fargo, targeting a price of $50.
- An analyst from Raymond James persists with their Strong Buy rating on Wells Fargo, maintaining a target price of $55.
- An analyst from Morgan Stanley has decided to maintain their Overweight rating on Wells Fargo, which currently sits at a price target of $54.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for Wells Fargo, targeting a price of $47.
- An analyst from Odeon Capital upgraded its action to Buy with a price target of $56.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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