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 35 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 51% leaning bullish and 37% bearish. Among these notable options, 13 are puts, totaling $729,686, and 22 are calls, amounting to $1,311,683.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $60.0 to $85.0 for Wells Fargo over the recent three months.
Analyzing Volume & Open Interest
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 $60.0 to $85.0, over the past month.
Wells Fargo Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WFC | CALL | TRADE | BULLISH | 02/21/25 | $7.55 | $7.45 | $7.51 | $65.00 | $157.7K | 1.1K | 363 |
| WFC | CALL | TRADE | NEUTRAL | 12/20/24 | $8.4 | $8.3 | $8.35 | $62.50 | $133.6K | 12.1K | 349 |
| WFC | CALL | SWEEP | BULLISH | 12/20/24 | $8.35 | $8.3 | $8.34 | $62.50 | $125.1K | 12.1K | 189 |
| WFC | CALL | SWEEP | BEARISH | 05/16/25 | $4.2 | $4.1 | $4.1 | $75.00 | $123.0K | 907 | 300 |
| WFC | PUT | SWEEP | BULLISH | 01/17/25 | $4.65 | $4.5 | $4.5 | $75.00 | $90.0K | 7.7K | 202 |
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 trading volume of 5,791,932, the price of WFC is down by -2.07%, reaching $70.49. Current RSI values indicate that the stock is is currently neutral between overbought and oversold. Next earnings report is scheduled for 29 days from now. Professional Analyst Ratings for Wells Fargo
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $80.6.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Wells Fargo, targeting a price of $82. * Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Wells Fargo, targeting a price of $85. * An analyst from Citigroup persists with their Neutral rating on Wells Fargo, maintaining a target price of $82. * An analyst from Piper Sandler persists with their Neutral rating on Wells Fargo, maintaining a target price of $75. * An analyst from Keefe, Bruyette & Woods has decided to maintain their Market Perform rating on Wells Fargo, which currently sits at a price target of $79.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
