WFCWells Fargo & Co.
Options Analysis Report•NATIONAL COMMERCIAL BANKS
Market Cap $249.5B|NYSE
● 2026-04-17$81.41
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +27.2%YTD -14.5%7D -4.7%
Options Vol
52,445
30D
Implied Move
±8.5%
IV Rank
32%
WFC Options Overview
IV is low. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.5
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks8/9 checks passed
IV Rank
≤35%IV Rank 24.4% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 0.89x — IV ≤ HV
Sector Relative≤50%
Sector percentile 40% — below sector median
Term Structure
<1.1xFront/Back 0.96x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 29.9% — normal range
Spread-Adjusted Value
<80%Effective IV 42.5% (ATM 29.9% + spread 6.3% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 10.43% (spread 6.31% + slippage 4.12%) — high friction
Vega Efficiency
≥5.0Vega efficiency 40.41 (vega 25.500 / spread 6.31%) — efficient
Sentiment
Bullish or bearish?
5.6
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Moderate signal (Conviction: -18%, Raw: -15%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -18% (bearish) — Raw: -15%
OI Skew Magnitude
≥15%|OI skew| 3.1% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +35.8%, OI skew +3.1% — aligned
Conviction Quality
≥2/3 conditions0-DTE 40%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -21%, ATM: -15%, OTM: -15% — bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 28% — very bullish vs sector
Activity
Unusual activity?
4.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 4.4% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +12.9% (5d) — building
Sector Relative≥60%
Sector activity percentile 51% — neutral vs sector
Trade Quality
≥30%Large trade volume 23% — mixed
Execution Urgency
≥60%Aggressive execution 58% — patient
Flow Conviction
≥30Conviction -18 (bearish) — mixed
Liquidity
Can I trade efficiently?
6.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 6.3% — wide
Adequate OI
≥10,000OI 1,183,441 — deep
Active Volume
≥500Volume 52,445/day — active
Reasonable Cost
≤$0.50$0.32 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 43% — neutral vs sector
Order Book Depth
≥100 contractsDepth 329.7 contracts (bid:159.2 ask:170.5) — adequate
Execution Quality
<1.0%Avg slippage 4.12% — poor
Timing
Is now a good time?
7.0
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -3.6% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 24% — buyer opportunity
Event Detection
≥10pts kinkIV kink -0.2pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1378.36 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -18% @ 59% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 53 (ITM 20% + inst 23%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls6.5
bullishIV cheap, mixed flow
Long Puts6.1
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.9
bullishIV too cheap, mixed flow
Covered Call4.6
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.