Wells Fargo Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant amount of bearish options activity has been observed for Wells Fargo (NYSE:WFC), with 86% of investors opening trades with bearish expectations. The total amount for puts is $1,686,541 and for calls is $536,216. Whales have been targeting a price range from $30.0 to $50.0 for Wells Fargo over the last 3 months. BMO Capital maintains a Market Perform rating on Wells Fargo with a price target of $54, while Deutsche Bank downgraded its action to Buy with a price target of $44.
October 17, 2023 | 5:30 pm
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NEGATIVE IMPACT
Bearish options activity has been observed for Wells Fargo, indicating a potential downward trend. However, analyst ratings from BMO Capital and Deutsche Bank suggest a neutral to positive outlook.
The bearish options activity indicates that a significant number of investors expect the price of Wells Fargo to decrease. However, the analyst ratings from BMO Capital and Deutsche Bank suggest a neutral to positive outlook, which could counteract the bearish sentiment to some extent.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100