Wells Fargo looks like an attractive options trade candidate ahead of its second-quarter report, according to Goldman Sachs.
Investors should take a look at the options market to bet on the long-awaited rebound of Wells Fargo , according to the derivatives research team at Goldman Sachs. John Marshall, the firm's head of derivatives research, said in a note to clients that Wells Fargo looks like an options trade candidate ahead of its earnings report. He said that Goldman bank analyst Richard Ramsden is optimistic about Wells Fargo's outlook for the rest of year.
They serve as a bet that the stock will rise above the strike, thus allowing the stock to be bought at a discount. The risk to the trade is that stock trades below the strike price until expiration, and the premium to buy the option is lost. WFC 5Y mountain Wells Fargo is off to a strong start in 2024 after a long period of underperformance.
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