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Deep-pocketed investors have adopted a bearish approach towards Wells Fargo (NYSE: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.
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.
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.
| 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 |
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
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.
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.
Posted In: WFC
