Benzinga | Jan 13, 2022 01:33PM EST

Wells Fargo Whale Trades Spotted

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 12 strange trades.

If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 66% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $129,429 and 9, calls, for a total amount of $1,816,849.

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 $42.5 to $70.0 for Wells Fargo 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 whale trades within a strike price range from $42.5 to $70.0 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 CALL SWEEP BEARISH 01/21/ $50.00 $766.7K 74.1K 4.2K 22WFC CALL SWEEP BULLISH 01/20/ $50.00 $532.5K 58.2K 542 23WFC CALL SWEEP BEARISH 01/21/ $56.00 $178.0K 3.0K 3.4K 22WFC CALL SWEEP BEARISH 01/20/ $50.00 $120.1K 58.2K 3.2K 23WFC CALL SWEEP BEARISH 06/17/ $50.00 $82.0K 13.1K 266 22

Where Is Wells Fargo Standing Right Now?

* With a volume of 15,223,629, the price of WFC is down -0.06% at $56.37.

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

* Next earnings are expected to be released in 1 days.

What The Experts Say On Wells Fargo:

* JP Morgan has decided to maintain their Neutral rating on Wells Fargo, which currently sits at a price target of $57.

* Barclays upgraded its action to Overweight with a price target of $62

* Piper Sandler upgraded its action to Overweight with a price target of $64

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.