Bearish options flow identified in Wells Fargo (WFC), with shares down $1.97 near $81.64. Options volume running well above average with 89k contracts traded and puts leading calls for a put/call ratio of 1.92, compared to a typical level near 0.76. Implied volatility (IV30) is higher by 1.6 points near 30.05,and above the 52wk median, suggesting an expected daily move of $1.55. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Market Perform at Raymond James.Looking ahead: Wells Fargo (WFC) will report earnings before the open on 2025-07-15.Option markets are pricing in a 50% probability of a move greater than 4.76% or $3.89.
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