DailyPlay – Wells Fargo (WFC) – April 11, 2022

View WFC Trade

WFC Bullish Opening Trade Signal

Strategy Details

Strategy: Put Credit Spread

Strategy Direction: Bullish

Details: Sell to open May 13, 2022 $45/$48 Put Vertical @ $1.05 Credit

Counter Trend Signal: This is a bullish trade on a stock that is experiencing a bearish trend. 

1M/6M Trends: Bearish/Bearish

Technical Score: 8/10

OptionsPlay Score: 91

Entering the Trade

Use the following details to enter the trade on your trading platform. Please note that if there is a multi-leg option strategy, it should be entered as a single trade. 

Investment Rationale

Our bullish DailyPlay today is Wells Fargo (WFC). WFC is part of the Financials sector that has shown poor performance in recent weeks. However, Financials are finding support at current levels and WFC is is showing signs of outperformance relative to the sector in the last few days. WFC also bounced higher at the $48 major support level which provides a good risk/reward bullish opportunity.