Wells Fargo (WFC) Offering Possible 12.11% Return Over the Next 27 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 $52.50 short put and a strike $47.50 long put offers a potential 12.11% return on risk over the next 27 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $52.50 by expiration. The full premium credit of $0.54 would be kept by the premium seller. The risk of $4.46 would be incurred if the stock dropped below the $47.50 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 52.93 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

Jim Cramer: The Move Out of Regional Banks Is Fed-Fueled
Thu, 18 Oct 2018 23:01:00 +0000
JP Morgan's stock was the most upsetting. Citigroup's stock hung in and then rallied, but it had been the most abused coming into the quarter — which is always helpful, especially when the company is the biggest buyer of its own stock of the group, something it can do because it has gone from worst to first in the eyes of the regulators. It's worth noting that the stock of Goldman Sachs has had two strong days after the quarter, an aberration from the usual, negative pattern — particularly on the second day, when the window opens for insider selling.

Senator Warren urges Fed to require removal of Wells Fargo CEO
Thu, 18 Oct 2018 20:30:35 +0000
WASHINGTON/NEW YORK (Reuters) – U.S. Senator Elizabeth Warren said on Thursday the Federal Reserve should not allow Wells Fargo & Co (WFC.N) to grow in size until the bank replaces Chief Executive Officer Tim Sloan. In a letter to Fed Chairman Jerome Powell, Warren said Sloan, a 30-year veteran of Wells, was “deeply implicated” in prior bank misconduct and it was untenable for him to remain at the bank as the Fed sought a drastic overhaul of its operations. “The Wells Fargo Board of Directors cannot plausibly claim that it is ‘ensuring senior management's ongoing effectiveness in managing the firm's activities' while retaining a CEO that helped oversee this much misconduct,” she wrote.

Elizabeth Warren Escalates Her Campaign Against Wells Fargo's CEO
Thu, 18 Oct 2018 19:15:14 +0000
The Massachusetts Democrat escalated her criticism of the San Francisco-based bank in a letter Thursday to Fed Chairman Jay Powell, requesting that he maintain growth limits imposed earlier this year to ensure that real changes are made to fix oversight gaps that allowed consumer abuses including opening millions of accounts without customers’ knowledge. “The Federal Reserve should not remove the growth cap on WFC until the Board replaces Mr. Sloan with a new CEO who has not contributed to the very problems the Federal Reserve is seeking to fix,” Warren wrote.

U.S. Senator Warren urges Fed to require removal of Wells Fargo CEO
Thu, 18 Oct 2018 18:34:05 +0000
U.S. Senator Elizabeth Warren said on Thursday the Federal Reserve should not allow Wells Fargo & Co to grow in size until the bank replaces Chief Executive Officer Tim Sloan. In a letter to Fed Chairman Jerome Powell, Warren said Sloan, a 30-year veteran of Wells, was “deeply implicated” in prior bank misconduct, and it was untenable for him to remain at the bank as the Fed sought a drastic overhaul of its operations. “The Wells Fargo Board of Directors cannot plausibly claim that it is ‘ensuring senior management's ongoing effectiveness in managing the firm's activities' while retaining a CEO that helped oversee this much misconduct,” she wrote.

Dallas tax company gets $1.1B valuation with new investment
Thu, 18 Oct 2018 16:32:31 +0000
Ryan LLC in Dallas has joined a special club of companies valued at more than $1 billion. The tax services and software provider has received a $317 million investment from private equity firm Onex Corp. that values the company at $1.1 billion, according to a statement by the companies. Onex is based in Toronto and has more than $33 billion in assets under management.

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