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Looking At Wells Fargo's Recent Unusual Options Activity

Author: Benzinga Insights | May 15, 2024 11:32am

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 13 trades.

If we consider the specifics of each trade, it is accurate to state that 53% of the investors opened trades with bullish expectations and 46% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $569,951 and 8, calls, for a total amount of $307,006.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $67.5 for Wells Fargo during the past quarter.

Volume & Open Interest Trends

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 $30.0 to $67.5, over the past month.

Wells Fargo 30-Day Option Volume & Interest Snapshot

Options Call Chart

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
WFC PUT TRADE BEARISH 01/16/26 $1.78 $1.72 $1.82 $45.00 $273.0K 7.5K 1.5K
WFC PUT SWEEP BEARISH 08/16/24 $1.71 $1.69 $1.7 $60.00 $113.6K 2.5K 674
WFC PUT SWEEP BULLISH 09/20/24 $3.2 $3.1 $3.1 $62.50 $107.2K 930 408
WFC CALL SWEEP BULLISH 08/16/24 $1.05 $1.03 $1.05 $67.50 $98.7K 996 1.0K
WFC PUT SWEEP BULLISH 05/17/24 $0.35 $0.34 $0.34 $62.00 $44.6K 2.3K 2.1K

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.

Following our analysis of the options activities associated with Wells Fargo, we pivot to a closer look at the company's own performance.

Current Position of Wells Fargo

  • With a volume of 4,046,376, the price of WFC is up 0.36% at $62.12.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 58 days.

Professional Analyst Ratings for Wells Fargo

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $61.5.

  • Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Wells Fargo, targeting a price of $61.

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

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