Wells Fargo's Options: A Look at What the Big Money is Thinking

Deep-pocketed investors have adopted a bullish approach towards Wells Fargo 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 49 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 53% leaning bullish and 36% bearish. Among these notable options, 14 are puts, totaling $1,096,272, and 35 are calls, amounting to $3,525,710.

What’s The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $57.5 to $85.0 for Wells Fargo over the recent three months.

Volume & Open Interest Development

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 $57.5 to $85.0, over the past month.

Wells Fargo 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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 US.

Present Market Standing of Wells Fargo

• With a volume of 7,266,595, the price of WFC is down -7.83% at $66.6.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 8 days.

Expert Opinions on Wells Fargo

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $78.62.

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.
* Showing optimism, an analyst from RBC Capital upgrades its rating to Outperform with a revised price target of $80.
* An analyst from B of A Securities has decided to maintain their Buy rating on Wells Fargo, which currently sits at a price target of $83.
* Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Wells Fargo, targeting a price of $73.
* An analyst from Citigroup persists with their Neutral rating on Wells Fargo, maintaining a target price of $78.

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.