Now looking at the WFC Wells Fargo & Company options chain ahead of earnings , i would buy the $42.5 strike price Calls with 2023-7-21 expiration date for about $$1.02 premium. If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
Trade active
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Calls trading at $1.22 before the close, a small 20% gain so far.
just trading the downward tread, its not a broadening wedge, its the opposite. Reverse price action risks are very high at the moment. I like the charts, remaining caution till july, BASEL 3 don't forget, banks will need to shore up their rehypothecated positions to rebalance their depository requirements.