Options Update: Wells Fargo (WFC) & Financial Select Sector (XLF)
Wells Fargo (WFC)
WFC May Volatility At 128 Into Stress Test
Wells Fargo is recently trading at $22.74 in pre-open trading, below its close of $23.27.
WFC May option implied volatility is at 128, June is at 107 - verses its 6-month average of 102.
Financial Select Sector (XLF)
XLF Volatility Near Seven Month Lows
Financial Select Sector is recently trading down $.21 to $11.30 in pre-open trading.
XLF top holdings in the fund are JPM, WFC, BAC, GS, USB, C, MET, TRV and AXP.
XLF over all option implied volatility of 61 is below its 6-month average of 69, suggesting decreasing price movement.
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