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 24 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 45% leaning bullish and 54% bearish. Among these notable options, 15 are puts, totaling $578,273, and 9 are calls, amounting to $416,942.
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 $37.5 to $60.0 for Wells Fargo during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Wells Fargo options trades today is 4369.88 with a total volume of 8,369.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Wells Fargo's big money trades within a strike price range of $37.5 to $60.0 over the last 30 days.
Wells Fargo Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WFC | CALL | SWEEP | BULLISH | 06/20/25 | $40.00 | $100.0K | 937 | 140 |
| WFC | CALL | SWEEP | BULLISH | 12/29/23 | $47.00 | $60.3K | 841 | 270 |
| WFC | CALL | SWEEP | BULLISH | 06/20/25 | $40.00 | $60.0K | 937 | 60 |
| WFC | CALL | SWEEP | BEARISH | 01/17/25 | $60.00 | $57.9K | 8.1K | 391 |
| WFC | PUT | SWEEP | BULLISH | 01/19/24 | $50.00 | $54.2K | 7.8K | 483 |
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.
Current Position of Wells Fargo
- Currently trading with a volume of 5,703,248, the WFC's price is down by -0.22%, now at $49.37.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 14 days.
What Analysts Are Saying About Wells Fargo
5 market experts have recently issued ratings for this stock, with a consensus target price of $52.416.
- An analyst from Raymond James has decided to maintain their Strong Buy rating on Wells Fargo, which currently sits at a price target of $55.
- An analyst from Goldman Sachs persists with their Buy rating on Wells Fargo, maintaining a target price of $50.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Wells Fargo, targeting a price of $54.
- An analyst from Piper Sandler persists with their Neutral rating on Wells Fargo, maintaining a target price of $47.
- An analyst from Odeon Capital upgraded its action to Buy with a price target of $56.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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