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Option traders moderately bearish in Wells Fargo with shares up 1.04%

Option traders moderately bearish in Wells Fargo (WFC), with shares up 84c, or 1.04%, near $82.33. Options volume running well above average with 136k contracts traded and puts leading calls for a put/call ratio of 2.28, compared to a typical level near 0.67. Implied volatility (IV30) is higher by 0.2 points near 28.82,and above the 52wk median, suggesting an expected daily move of $1.49. Put-call skew steepened, indicating increased demand for downside protection.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 3.93% or $3.24.

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