Behind the Scenes of Wells Fargo's Latest Options Trends
Behind the Scenes of Wells Fargo's Latest Options Trends
Financial giants have made a conspicuous bearish move on Wells Fargo. Our analysis of options history for Wells Fargo (NYSE:WFC) revealed 25 unusual trades.
Delving into the details, we found 48% of traders were bullish, while 52% showed bearish tendencies. Out of all the trades we spotted, 18 were puts, with a value of $779,389, and 7 were calls, valued at $661,430.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $67.5 for Wells Fargo during the past quarter.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $40.0 to $67.5 in the last 30 days.
Wells Fargo Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WFC | CALL | SWEEP | BULLISH | 07/26/24 | $4.65 | $4.55 | $4.65 | $55.00 | $232.5K | 740 | 620 |
| WFC | CALL | SWEEP | BEARISH | 01/17/25 | $20.3 | $20.15 | $20.1 | $40.00 | $201.0K | 18.5K | 0 |
| WFC | PUT | TRADE | BEARISH | 12/20/24 | $2.69 | $2.68 | $2.69 | $57.50 | $82.3K | 3.3K | 306 |
| WFC | PUT | SWEEP | BEARISH | 01/17/25 | $1.44 | $1.42 | $1.44 | $52.50 | $72.0K | 17.1K | 500 |
| WFC | PUT | SWEEP | BULLISH | 12/20/24 | $8.85 | $8.75 | $8.75 | $67.50 | $69.1K | 2.2K | 79 |
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.
Current Position of Wells Fargo
- With a trading volume of 3,547,285, the price of WFC is down by -0.01%, reaching $59.66.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 79 days from now.
Professional Analyst Ratings for Wells Fargo
5 market experts have recently issued ratings for this stock, with a consensus target price of $64.2.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Wells Fargo with a target price of $70.
- An analyst from BMO Capital persists with their Market Perform rating on Wells Fargo, maintaining a target price of $59.
- Maintaining their stance, an analyst from Keefe, Bruyette & Woods continues to hold a Market Perform rating for Wells Fargo, targeting a price of $61.
- An analyst from Jefferies persists with their Hold rating on Wells Fargo, maintaining a target price of $64.
- Reflecting concerns, an analyst from Evercore ISI Group lowers its rating to Outperform with a new price target of $67.
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.