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Wells Fargo's Options Frenzy: What You Need to Know

Author: Benzinga Insights | August 15, 2024 11:02am

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 20 trades.

If we consider the specifics of each trade, it is accurate to state that 55% of the investors opened trades with bullish expectations and 40% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $936,666 and 13, calls, for a total amount of $518,860.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $40.0 and $62.5 for Wells Fargo, spanning the last three months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Wells Fargo's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Wells Fargo's substantial trades, within a strike price spectrum from $40.0 to $62.5 over the preceding 30 days.

Wells Fargo Option Activity Analysis: Last 30 Days

Options Call Chart

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
WFC PUT SWEEP BEARISH 01/17/25 $8.1 $8.0 $8.1 $62.50 $242.1K 1.0K 551
WFC PUT SWEEP BEARISH 02/21/25 $8.4 $8.3 $8.4 $62.50 $234.3K 14 280
WFC PUT SWEEP BEARISH 01/17/25 $8.0 $7.9 $8.0 $62.50 $200.8K 1.0K 252
WFC PUT TRADE BULLISH 02/21/25 $2.02 $1.89 $1.9 $50.00 $152.0K 1.0K 800
WFC CALL TRADE NEUTRAL 09/27/24 $15.85 $15.05 $15.5 $40.00 $77.5K 0 50

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.

After a thorough review of the options trading surrounding Wells Fargo, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Present Market Standing of Wells Fargo

  • Trading volume stands at 4,248,778, with WFC's price up by 2.3%, positioned at $54.9.
  • RSI indicators show the stock to be is currently neutral between overbought and oversold.
  • Earnings announcement expected in 57 days.

What Analysts Are Saying About Wells Fargo

1 market experts have recently issued ratings for this stock, with a consensus target price of $68.0.

  • 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

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