Unpacking the Latest Options Trading Trends in Wells Fargo

Author: Benzinga Insights | August 12, 2024 03:15pm

Whales with a lot of money to spend have taken a noticeably bullish stance on Wells Fargo.

Looking at options history for Wells Fargo (NYSE:WFC) we detected 19 trades.

If we consider the specifics of each trade, it is accurate to state that 52% of the investors opened trades with bullish expectations and 47% with bearish.

From the overall spotted trades, 9 are puts, for a total amount of $1,203,701 and 10, calls, for a total amount of $709,516.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $70.0 for Wells Fargo over the recent three months.

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 $40.0 to $70.0 in the last 30 days.

Wells Fargo Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
WFC	PUT	TRADE	BULLISH	01/16/26	$3.3	$3.2	$3.2	$45.00	$800.0K	17.7K	2.5K
WFC	CALL	TRADE	BEARISH	09/27/24	$0.88	$0.83	$0.83	$55.00	$178.2K	5	2.1K
WFC	CALL	SWEEP	BULLISH	06/20/25	$2.9	$2.9	$2.9	$60.00	$174.0K	8.7K	600
WFC	CALL	SWEEP	BEARISH	01/17/25	$1.87	$1.84	$1.84	$57.50	$97.9K	11.0K	584
WFC	PUT	TRADE	BEARISH	10/18/24	$10.65	$10.5	$10.6	$62.50	$69.9K	623	66

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.

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

Wells Fargo's Current Market Status

• Currently trading with a volume of 10,295,810, the WFC's price is down by -1.66%, now at $51.88.
• RSI readings suggest the stock is currently may be oversold.
• Anticipated earnings release is in 60 days.

Expert Opinions on Wells Fargo

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $63.75.

• Consistent in their evaluation, an analyst from BMO Capital keeps a Market Perform rating on Wells Fargo with a target price of $59.
• In a cautious move, an analyst from Evercore ISI Group downgraded its rating to Outperform, setting a price target of $67.
• An analyst from Keefe, Bruyette & Woods has decided to maintain their Market Perform rating on Wells Fargo, which currently sits at a price target of $61.
• An analyst from Morgan Stanley has decided to maintain their Overweight rating on Wells Fargo, which currently sits at a price target of $68.

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: WFC