Shares of Wells Fargo & Co. are down .35 to 51.46 today.? WFC is near the upper end of the 52 week range.
Today paper traded 15000 WFC Jul 25 Weekly 51.5 puts at .70.? The ADV is 35k contracts. The OI is 16371 contracts.
The volume went up in 1 large block.? The put sale went up early in the day when WFC was near the low point.? The timing looks very good.? The volume is most likely closing on the high open interest so the seller looks to have made a nice profit.
?30-day implied volatility is 17%. ? 10-day implied volatility is 10%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking and Wealth, and Brokerage and Retirement.