A whale with a lot of money to spend has taken a noticeably bearish stance on Wells Fargo.
Looking at options history for Wells Fargo (NYSE:WFC) we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 27% of the investors opened trades with bullish expectations and 72% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $138,009 and 7, calls, for a total amount of $961,835.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $48.0 for Wells Fargo over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Wells Fargo options trades today is 10117.22 with a total volume of 2,579.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Wells Fargo's big money trades within a strike price range of $40.0 to $48.0 over the last 30 days.
Wells Fargo Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WFC | CALL | TRADE | NEUTRAL | 01/19/24 | $45.00 | $594.2K | 13.6K | 856 |
| WFC | CALL | TRADE | BULLISH | 01/19/24 | $45.00 | $111.5K | 13.6K | 217 |
| WFC | CALL | TRADE | NEUTRAL | 01/19/24 | $45.00 | $86.4K | 13.6K | 99 |
| WFC | CALL | SWEEP | BEARISH | 06/16/23 | $40.00 | $82.8K | 83 | 75 |
| WFC | PUT | SWEEP | BEARISH | 06/17/22 | $47.50 | $39.8K | 17.7K | 300 |
Where Is Wells Fargo Standing Right Now?
- With a volume of 7,115,539, the price of WFC is up 1.36% at $47.81.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 85 days.
What The Experts Say On Wells Fargo:
- Citigroup upgraded its action to Buy with a price target of $56
- Piper Sandler has decided to maintain their Overweight rating on Wells Fargo, which currently sits at a price target of $63.
- Raymond James has decided to maintain their Outperform rating on Wells Fargo, which currently sits at a price target of $60.
- Morgan Stanley has decided to maintain their Overweight rating on Wells Fargo, which currently sits at a price target of $66.
- BMO Capital has decided to maintain their Market Perform rating on Wells Fargo, which currently sits at a price target of $60.
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.
