Benzinga | Oct 7, 2021 02:51PM EDT

Looking At Wells Fargo's Smart Money Trades

Today, Benzinga's options scanner spotted 8 uncommon options trades for Wells Fargo (NYSE:WFC). The overall sentiment shows 50.0% of the big-money traders are bullish on the stock and 50.0%, bearish. Out of all of the special options found by our algorithm, 3 are puts, for a total amount of $501,540 and 5, calls, for a total amount of $480,540.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that the smart money is targeting a price range from $35.0 to $52.5 for Wells Fargo in the over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Wells Fargo's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Wells Fargo's smart money trades within a strike price range from $35.0 to $52.5 in the last 30 days.

Wells Fargo Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestWFC PUT TRADE BEARISH 01/20/ $50.00 $405.0K 6.2K 501 23WFC CALL SWEEP BULLISH 01/21/ $35.00 $280.7K 34.1K 206 22WFC CALL SWEEP BULLISH 01/21/ $47.50 $91.2K 28.4K 291 22WFC PUT TRADE NEUTRAL 10/15/ $47.50 $62.7K 50.5K 308 21WFC CALL TRADE BEARISH 12/17/ $50.00 $40.5K 8.6K 880 21

Where Is Wells Fargo Standing Right Now?

* With a volume of 9,702,497, the price of WFC is down -0.05% over the last 24 hours at $47.84.

* RSI indicators hint that the underlying stock may be approaching overbought.

* Next earnings are expected to be released in 7 days.

What The Experts Say On Wells Fargo:

* Morgan Stanley downgraded its action to Equal-Weight with a price target of $46.0

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.