Bearish Sentiment Dominates as Financial Giants Take Aim at Wells Fargo: Unusual Options Trades Detected
Portfolio Pulse from Benzinga Insights
Financial giants have shown a bearish sentiment towards Wells Fargo (NYSE:WFC) with 83% of traders showing bearish tendencies. Out of 12 unusual trades, 10 were puts, valued at $835,520, and 2 were calls, valued at $75,840. The major market movers are focusing on a price band between $35.0 and $55.0 for Wells Fargo. BMO Capital has maintained their Market Perform rating on Wells Fargo, with a price target of $54.
November 08, 2023 | 8:21 pm
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Bearish sentiment is dominating Wells Fargo with 83% of traders showing bearish tendencies. The major market movers are focusing on a price band between $35.0 and $55.0.
The bearish sentiment from financial giants and the high number of put trades indicate a potential decrease in Wells Fargo's stock price. The price band focus between $35.0 and $55.0 also suggests that the market movers are expecting the stock price to move within this range.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100