Wells Fargo Offering Possible 10.38% Return Over the Next 29 Calendar Days

Wells Fargo's most recent trend suggests a bullish bias. One trading opportunity on Wells Fargo is a Bull Put Spread using a strike $42.00 short put and a strike $37.00 long put offers a potential 10.38% return on risk over the next 29 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $42.00 by expiration. The full premium credit of $0.47 would be kept by the premium seller. The risk of $4.53 would be incurred if the stock dropped below the $37.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Wells Fargo is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Wells Fargo is bullish.

The RSI indicator is at 63.88 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Wells Fargo

S&P 500 pushes further into record territory
Fri, 18 Oct 2013 22:07:16 GMT
AP – Investors shifted their focus from politics to profits on Friday and liked what they saw, pushing the Standard & Poor's 500 index further into record territory. Two days after Congress struck a last-minute …

Wells Fargo to Present at the Bank of America Merrill Lynch 2013 Banking & Financial Services Conference
Fri, 18 Oct 2013 21:26:00 GMT
Business Wire – Wells Fargo & Company said today that Chief Financial Officer Tim Sloan will present at the Bank of America Merrill Lynch 2013 Banking & Financial Services Conference to be held in New York on Wednesday, November 13, at 8 a.m.

S&P 500 pushes further into record territory
Fri, 18 Oct 2013 21:12:04 GMT

Bank Earnings Wrap-Up: The Good, the Bad, the FICC
Fri, 18 Oct 2013 20:55:53 GMT
The Wall Street Journal – Morgan Stanley's better-than-expected results Friday wrapped up a third-quarter earnings season for large U.S. banks that was predictably marked by large fixed-income trading declines and a slump in mortgage-production …

States Accelerate Spending of U.S. Aid for Troubled Borrowers
Fri, 18 Oct 2013 20:26:53 GMT
Bloomberg – States experiencing the worst home- price declines and unemployment are speeding up their spending of $7.6 billion in U.S. aid under a three-year-old program designed to help their residents, the Treasury …

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