WFC

NobodyTellPoeDameron

Yeah, and the six are probably JPMorgan, Citibank, WFC, etc.

amazing_investor

WFC

templeton-p-bag

ABR and WFC puts I grabbed right before the big drop already up bigly. Let’s go

crazythumper7

WFC digging it’s way to hell bb

WR810

I told you last week calls on WFC because being mean means they make money and that's bullish. 😠

AshFromCalifornia

WFC puts because they were mean to me one time.

templeton-p-bag

I got a good feeling about $WFC puts a few months out after we clear FOMC today. I don’t think we’ve seen the last of the bank problems. WFC is too big to fail all the way to 0 but I’m expecting some pain for them in the coming months

MainPlay6917987

If I see Wells Fargo on someone's resume, their application is going in the trash. You must be pretty desperate to work at WFC

Acceptable_Stay_3395

Yes, you will need some capital to do this. That’s why I don’t recommend options trading for most people. Even my financially savvy friends won’t touch options because of the capital requirements to keep it safe. yes, you can use margin for trading credit spreads but it can still wipe you out if you’re not careful. People trade options for the leverage but you must understand the risks. With that said, there are some “safe” stocks that require a minimal amount of capital to get started. Things like F, M, T, GM, VZ, WFC, BAC, AAPL, GOOGL, AMZN (now that the latter two have split), KO, BMY, etc. Just be aware that some of these safer stocks don’t have a very liquid options market and you’ll have to sell close to the money or even in the money to make any decent money after commissions.

Acceptable_Stay_3395

I employ only several strategies: cash secured bull put spreads (super conservative, more conservative than owning stock outright), covered calls, and iron condors (bull put spreads with bear call spreads). The latter I ONLY do with SPY/QQQ/GLD. I understand other strategies (strangles/straddles, long combos, calendar spreads etc) but it’s best to keep it simple. The underlying is usually SPY or QQQ or “safe” stocks that I’ve owned many times over in the past; that I understand the business, and I feel comfortable owning. Ive been burned many times in the past chasing high IV stocks. Buying puts is as a hedge usually. Yes, you can buy a put (or do a bear put spread) and hope for the stock to drop but in my view, that is directional trading and risky (you can still lose your premium). Yes you can buy OTM puts and hope for that black swan event but that is rare. However, what I do is do a bull put spread (sell a put, buy a lower SP put). If the stock takes off, I buy back my shorted put for cheap, take most of my profits (90% is where I set my profit taking at), but most importantly take the risk off the table, and leave the lower SP put open (it’s usually not worth it to close it for a few bucks or less). Sometimes, the stock then nose dives (had this happen a couple times in the last couple months with TSLA and WFC) and your long put becomes ITM and makes you money.

Good_Owl_9078

Big banks are doing great. Getting billions. Big 3 banks (BAC,WFC and CITI) had 15 billion of new deposits from the small and regional banks since SVB collapsed. Big banks are doing great. Higher interest rates on all loans and higher fees yet still paying Pennies on deposits and CDs.

Ber1nice-

WFC is also very dangerous, bank stocks I recommend not buying for now, do you hold much of WFC now?

Acceptable_Stay_3395

Yes. CSPs are still risky even if you have capital to cover. I use options not for leverage but to reduce my risk. Yes I could’ve bought the shares and if it goes to zero I’m also out that amount. Selling credit spreads and foregoing a bit of premium to have some protection is worth it to me. I can still generate 20-40% annualized on that money if the stock takes off or I can close the short early and leave the long put open in case the stock drops. The last couple months this happened with TSLA and WFC. I closed out the shorts and left the longs open because they were almost worthless. Then the stocks dropped way into the money and I sold the puts for a nice gain (more than the initial premium). I generally buy the stock if the stock settles between the two SPs and if it drops below my long I will sell the long to reduce the loss on day of expiration and take the stock and then do CCs the following week (break even will be lower due to the long put I sold). It’s a modified wheel and it won’t make you a billionaire overnight but you’ll be able to sleep better at night. Position sizing is also important of course. QQQ and SPY are the main underlyings I trade along with some other less risky stocks. And yes diversifying is important.

r_stra

It's true, I'm WFC

Far-Programmer3189

Aggressive putting WFC in a corner box!

Evreya

I only have WFC in these, and the svb I used to have is dead.

Successful-Bike2850

I think WFC below 25 next. Or eow

wesmt

WFC fucked too?

MrCouncilman

WFC 40 wen

shr56

Sold 1,700 shares of WFC at $38.24 so I was hoping for a bounce but it’s just not doing much. Picked it up at $40.70 so another tax write off 😆

Beo54

WFC is the most likely to fail on a bank Run of the big boys. After adjusting for bond losses it still has a capital ratio of 8.0%.

rishabhgghosh

How are JPM WFC and BAC regional banks 😭

Fairlanefan

Can we get a WFC in there, too? Preferable before 4/6?

BoredPoopless

Kinda hoping for another big red day for banks Monday morning. Won't touch this garbage, but I think it's a great opportunity for banks like WFC.

ragd009

Wow WFC

ImRayShoesmithsSmile

lmao yeah lets all pull out our $420 from WFC

I_Not

You're missing a very key difference. Banking regulations in the US require CB (Commercial banks) to maintain a certain level of collateral/reserves. There was a massive massive influx of deposits from the helicopter stimmy checks which led to a scramble for collateral. This is also why banking requirements were loosened around this time. Banks wouldn't have met requirements from the influx. Anyhoo, Silicon was an outlier. Why? 55% of SIVB's assets were securities. A huge chunk of these were MBS which is what truly fucked them. Most banks like Citi, BAC, WFC, etc. only keep 20-25% of total assets as securities and they are mostly **US treasuries**. Why treasuries? **Because there will always be a buyer for US treasuries**. Even if the market goes to shit guess who will buy or swap the stuff they control for a nominal cost? **The Fed**. *Aside: the Fed balance sheet trending upwards again means nothing because it's a simple swap and a net zero.* Silicon is full of regards who bought a bunch of MBS to resell to the Fed and then the Fed stopped buying with QT. Suddenly had a balance sheet full of poor securities and rates going up all around them. They panicked, depositors panicked, and then it was panic at the disco until the FDIC kicked the door in. So the BoJ can pick and choose whether or not they buy treasuries based on the situation. US banks were forced to buy assets by helicopter money and in a shit situation they bought pristine collateral (UST). Their losses are almost always hedged and used to offset capital gains. However, when management is incompetent and does not follow the well worn path you get an SIVB situation.

MorrisseysRubiksCube

Fine. I hold WFC, JPM, BAC.

SpiderPiggies

I like and own SOFI. I don't buy into the 'future of banking' bullshit surrounding it, but I think they will do well going forward simply because a large portion of their loans are newer and therefore at higher rates than other banks (lucky timing more than anything). They're also one of the few banks whose deposits have increased over the last year, which means they shouldn't have the same liquidity issues that you worry about elsewhere. If you're looking for stability/lower risk exposure to banking I'd stick to JPM. BAC, C and WFC are just awful companies, even if their shares might do well I don't think I could convince myself to ever buy them. I'd also stay away from foreign banks. I have no faith in foreign management and/or politics benefiting shareholders.

unclefire

The big banks -- JPM, WFC, C, BAC

michaelscott79

Billions, for WFC

Desmater

If we are talking about banks with large deposits. JPM and BAC are the top. Than C Last is WFC But financial related SCHW is a good buy right now. Bank + Brokerage. They even bought TD Ameritrade and other banks in the last 5 years or so. So they are large now at $7.4+ Trillion AUM.

BigTitsKeepMeHappy

Just like every other bank that has conducted fraud? WFC went through a massive management/cultural change and the change is continuing. Its def a stock worth betting on as the Fed removes the asset cap and they’re able to increase their dividends.

kyliecannoli

Seriously. JPM, BAC, WFC, C, any one of these fails and the government doesn’t bail them out, we dead anyway

kyliecannoli

The fact that WFC has done so many shady things and risky bets for so long but they’re still one of the biggest banks standing gives me all the confidence in their stock. Bad for the country but good for the stock, tale as old as capitalism ✨

CMScientist

Check BAC and WFC stock prices, below their 2008 peaks. JPM only did well because they are well connected and did a lot of shady dealings. They bascially got WaMu for pennys on the dollar through government seizure

sandman2986

My first sentence was actually no suggestions lol WFC has been caught multiple times doing some shady stuff. On the other hand, they are one of the top home mortgage banks. If consumers want to default, they probably won’t default on a 3% loan. My thought is that they would continue to have payments come in, generating income. In all honestly, I don’t find bank stocks appealing.

goldencityjerusalem

BofA and WFC have a ton of unrealized losses… don’t try to catch a falling knife. Gotta do massive DD before you touch any bank stock. I for one… removed all my money out of banks.

And2Makes5

If more banks start to fail, there is not one bank stock that will be be able to hold its value. The US banking system is all about confidence. Confidence has already been breached. Situation today is delicate. If you can tolerate risk, go for it. BAC or WFC if you must

aeipownu

Does WFC really deserve a 20% haircut this month?

cbusoh66

I don’t understand why JPM or BAC are tanking in sympathy. The regionals are taking loans from the Fed, assuming at current interest rates, so they can backstop any outgoing transfers. But those transfers are not going into the mattress, customers, small and large are depositing the transfers probably into one of the big 5 banks. It’s like JPM, BAC, WFC, C, etc are getting $300 billions of new deposits, direct from the Fed, without having to lift a finger.

DrBarry_McCockiner

I have a couple limit orders for at the money calls on WFC for next month

EldenHermit

Was flicking through tickers and thought my WFC poots were printing, only to realize it was FRC cliff diving again 

BetweenCoffeeNSleep

Banks have wildly different revenue profiles. So much so that WFC and MS, for example, are almost entirely different businesses. Spending time on banks’ different revenue generation profiles is critical before picking bank stocks.

Joe6102

If you can’t beat ‘em, join em. I loaded up on WFC and BAC today.

DegenateMurseRN

“Some of the biggest U.S. banking names including JPMorgan Chase & Co (JPM.N), Citigroup Inc (C.N), Bank of America Corp (BAC.N), Wells Fargo & Co (WFC.N), Goldman Sachs (GS.N) and Morgan Stanley (MS.N) were involved in the rescue, according to a statement from the banks.”

WickedSensitiveCrew

I'd probably pick among the big four JPM, C, BAC, or WFC. So you get the winners and not get exposed to the losers.

Badboyardie

I’m Bearish on WFC

ImhereforyourDD

The OP is referencing that 15 years ago GE wasn’t a boomer stock, it was like apple of today. It was everything. You had to have a part of GE to be a functional trader with long term outlooks. Every fucking fund had some chunk of GE shares. No one saw it coming. He is only saying that SCHW may be taking that 100b daily income and making unwise choices with it….. like the other banks that are failing. Fuck, could you imagine if SCHW was buying into regional banks to diversify on top of crap CDSs? Ps: I don’t know shit about SCHW, don’t use them, never owned them, never read a thing on them, never seen one. WFC/TOS

3500theprice

Honestly, very well might be.shiiit WFC was under a buck duribg financial collapse and after the

FatCatBoomerBanker

JPM is more likely than WFC and isn't on the list.

deviprsd

Are people not going to have a run on WFC?

bebiased

Puts. WFC. ITB.

Dehydratedgarlic

I completely discount any analysis by WFC. They can't even manage their own business but they're going to give advice on others?

shr56

I bought CS this morning at $1.98 and some more just as the news broke about the other Swiss bank lending them funds if needed at $2.04 so that’s up. My WFC is down a little but not bad. Good luck tomorrow!

jtlxcf

WFC calls. Cause it’s seems they suck as a company. So I’ll inverse myself

yourpalbucket

WFC $43 calls for next week are $20 a pop ... might pick up 12 of them in case JPOW pauses

Affectionate-Idea690

All 33 of the biggest lenders in the US [ passed this year’s exam](https://www.bloomberg.com/news/articles/2022-06-23/banks-ace-fed-stress-tests-to-pave-way-for-shareholder-payouts). But the results chafed some and most all of them. JP MORGAN, WFC, BAC, CS and shittygroup, were told that in the future they would need to increase the amount of high-quality capital they hold to protect against losses, and as a result, they will be pausing stock buybacks that return money to shareholders.

HaveAKlondike

Calls on Big banks. They are all highly capitalized and will buy out the competition who goes under for penny’s. WFC raised 9.5B which will give them more than sufficient capital to handle additional inflows and acquisitions. Expect other banks to do so as well

DrBarry_McCockiner

I bought a couple SPY3/17 390 calls and some WFC 4/06 38 calls.

Qorsair

Yeah, personally very bullish on Wells Fargo. I think we'll see Charlie do for WFC what Jamie did for JPM

TimeOrCrayonsIV

Yep, and more than that; the management team has really cleaned house in the middle too. They poached a ton of people from JPM and BAC in the cleanup. Charlie was Jamie Dimon's first assistant way back in the day at Primerica. The way he is going about re-orging is why WFC is compelling imo.

Joe_mex

WFC

Rang_Dipkin

GS, BAC, even WFC are slam dunks

rs06rs

>Again, none of this is correct. (Except your acceptance of your mistake). Oh man..  >No. They are charging OIS + 10bps - which is 10bps higher than banks generally get. OIS is around 5%, so the rate is 5.1% or so. The banks are paying 5.1% for a treasury, on which they are getting \~2-3%...so a loss of \~2-3% annually. Oh okay. Didn't know that. Heard someone talk about low rates and didn't check myself. Sorry, my bad. Appreciate you correcting me >WTF. Did you learn nothing so far? How is it almost as good as buying them at par? Now I can see it's not as good, yes. Although for someone like BofA and WFC (I know they're SIBs and not to be worried about - but consider it for the sake of argument) with 10-13% unrealized losses on their HTM securities, it's a lot cheaper to just borrow against them at par even with a 2-3% annual loss only to the extent they need to cover the demand, considering they'd have to convert the entire portfolio into AFS if they had to convert even a single treasury to meet withdrawals in the event of a bank run - kinda what was about to happen at SVB (13% unrealized loss) before regulators shut it down, which it wouldn't have been able to absorb the losses of. >No. The loan is only up to 1 year duration. The banks can't get a 20 year loan or something. Oh no, I didn't mean that. This idea is now out. This concept that there will be a backstop from the regulators whenever you have underwater HTM securities. It's like another potential money printer for banks to cover client deposits. Banks know if shit like this ever happens to them again in the future, there's a precedent of a powerful backstop, which might let the potential mismanagement of treasuries at the banks continue (which was particularly bad in SVB's case). Although it's likely regulations will get tighter around this over time in the aftermath of this. >Well, I guess that's an opinion but still...not very correct. It is kinda crazy, I think. An opinion aired by a few prominent fund managers over the last few days as well. Fed may have to print money to lend if needed, coz their own holdings aren't doing great either. Of course, all this is a concern only if there's a bank run sort of situation, which is seemingly impossible now that people know their deposits are fully guaranteed. Overall, I gotta hand it to you. I was wrong on many fronts. Probably (read likely) still am. Well, I'm no expert anyway. Just a regard enjoying their time on WSB. Once again, appreciate you chiming in to set the record straight. Feel free to correct me further. I'm always learning

man931

If the bank sector collapsed, the first one should be WFC

Badboyardie

Look for them to buy WFC assets

TeamDisrespect

Sold my WFC 42 calls about 10 minutes after open yesterday for a nice gain.. if I’m getting shit right you know the market is in trouble

-Dreamville-

Had a bunch of WFC puts that I cashed out on Monday, looks I should have maybe held them for a lilllll longer

trainwreck001

Credit Suisse down the tubes. WFC on deck with Charlie Schwab runner up

MoneyMiddleGhost

That’s a very normal course of business filing, and not a big number at all for WFC. It’s a shelf filing which they are required to do periodically, it does not mean they need to raise capital for deposit flow or to offset losses.

Analyst_Simple

Wells Fargo, $WFC, files for $9.5 billion mixed shelf offering. The offering may include debt securities, warrants, units and purchase contracts

Joe_mex

WFC needing money

InfamousMB

Futes going up with WFC offering… Bearullish ?!

Joe6102

Short $WFC

Far-Programmer3189

I wonder what JPM, BAC, WFC and C are doing with all the deposits they’re raking in at the moment?

PremoDaPlug

Loaded to the tits on calls for WFC hoping for a big turn around here as well

lotus_bubo

WFC shutting down… Red because the big 4 become 3 Or green because it means a pivot What do?

Opeth4Lyfe

True they do, but not nearly as big as JPM. JP Morgan has a much larger wealth management and investment arm than the other 3 and from what I can gather their bond portfolio is better spread between maturity durations than most other large institutions, making them better capitalized incase of….well what’s happening now. It’s why they’re considered more of a safe haven investment bank rather than a “riskier” retail consumer bank like BAC or WFC. If JPM were to experience a run it would be 08-09 on steroids which I don’t see happening, probably ever. They’re plenty insulated and liquid from what I can tell. But hey I’m just some dude on Reddit so take what I say with a grain of salt.

ImRayShoesmithsSmile

I had an account with WFC and I didn't even know it

trainwreck001

I can tell you never had an account with WFC. lol

trainwreck001

Bank Run on WFC.exe

trainwreck001

So CS lied, WFC ran out of money, Russia attacked the US, CPI came in HOT and PPI about to catch WRECK... 

shr56

Bought CMA at $45.22 and sold at $46.43 before it pulled back to 41 the bounced back. I bought 2700 shares of WFC at $40.77 so hopefully a pop tomorrow. Also picked up 5195 of VVOS at $0.34 and 2950 of ONCS at $3.38 so not a good day for that holding.

trainwreck001

WFC ran out of money... FYI LMAO

jmjacak

So puts 6 months out on $WFC, got it.

Fit_Opinion2465

BAC, WFC and CITI all have investment banking divisions