Deep-pocketed investors have adopted a bullish 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 19 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 47% leaning bullish and 47% bearish. Among these notable options, 11 are puts, totaling $588,097, and 8 are calls, amounting to $419,431.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $60.0 for Wells Fargo over the recent 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 $60.0 over the preceding 30 days.
Wells Fargo Option Activity Analysis: Last 30 Days
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 | BULLISH | 10/18/24 | $2.82 | $2.78 | $2.78 | $52.50 | $111.2K | 8.9K | 414 |
| WFC | CALL | SWEEP | BULLISH | 10/18/24 | $1.96 | $1.92 | $1.96 | $55.00 | $78.3K | 1.2K | 513 |
| WFC | PUT | SWEEP | BEARISH | 01/17/25 | $3.1 | $3.0 | $3.1 | $50.00 | $70.3K | 13.9K | 227 |
| WFC | CALL | SWEEP | BEARISH | 12/20/24 | $9.35 | $9.3 | $9.35 | $45.00 | $69.2K | 234 | 75 |
| WFC | PUT | SWEEP | BULLISH | 09/20/24 | $2.29 | $2.26 | $2.26 | $52.50 | $67.7K | 12.8K | 759 |
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
Where Is Wells Fargo Standing Right Now?
- With a volume of 7,860,983, the price of WFC is up 0.4% at $52.33.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 66 days.
Expert Opinions on Wells Fargo
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $63.75.
- In a cautious move, an analyst from Evercore ISI Group downgraded its rating to Outperform, setting a price target of $67.
- Maintaining their stance, an analyst from Keefe, Bruyette & Woods continues to hold a Market Perform rating for Wells Fargo, targeting a price of $61.
- Maintaining their stance, an analyst from BMO Capital continues to hold a Market Perform rating for Wells Fargo, targeting a price of $59.
- 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.