Wells Fargo & Company (WFC) Gamma Exposure (GEX) & Greeks
Gamma exposure (GEX) analysis shows how options positioning creates dealer hedging pressure across strikes. Includes delta, vanna, charm, vomma, and vega exposure by strike price.
Wells Fargo & Company (WFC) operates in the Financial Services sector, specifically the Banks - Diversified industry, with a market capitalization near $225.02B, listed on NYSE, employing roughly 217,000 people, carrying a beta of 0.96 to the broader market. Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. Led by Charles W. Scharf, public since 1972-06-01.
Snapshot as of May 15, 2026.
- Spot Price
- $73.56
- Net Gamma
- -$55.2M
- Net Delta
- $1.09B
- Net Vega
- -$12.0M
- Gamma Concentration
- 0.10
As of May 15, 2026, Wells Fargo & Company (WFC) has negative net gamma exposure of $55.2M under the standard dealer-hedging convention. Net delta exposure is $1.09B. Negative GEX means dealers are net short gamma: they must sell into weakness and buy into strength, amplifying realized volatility and accelerating directional moves.
WFC Strategy Sizing in the Current GEX Regime
Wells Fargo & Company is in a negative dealer-gamma regime ($55.2M). Net dealer delta of $1.09B sets the size of the directional hedging flow that fires as spot moves. In this regime, momentum and breakout strategies fit the regime: long calls or puts, ratio backspreads, calendar spreads positioned for vol expansion. Realized volatility tends to overshoot implied during negative-gamma stretches, hurting indiscriminate short-vol exposure. The gamma-flip level - the spot price at which net dealer gamma changes sign - is the most actionable anchor for sizing: through-flip moves trigger qualitatively different hedging behavior than within-regime moves, so risk-defined structures sized to the current spot may not stay sized correctly if a flip is near.
Learn how gamma exposure is reported and how to read the data →
WFC largest gamma exposure contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| PUT | $70.00 | Jun 18, 2026 | 67 | 67.3K | 30.7% | $1.20 | $1.25 |
Top 1 contracts from the ORATS-sourced nightly scan; ranked by gex within the broader S&P 500/400/600 + ETF universe.
Frequently asked WFC gamma exposure (gex) & greeks questions
- What is the current WFC gamma exposure (GEX)?
- As of May 15, 2026, Wells Fargo & Company (WFC) net gamma exposure is negative at $55.2M under the standard dealer-hedging convention. Net dealer delta exposure is $1.09B. GEX aggregates the gamma sitting on dealer books across all listed strikes and expirations.
- Is WFC in positive or negative dealer gamma right now?
- WFC is currently in negative dealer gamma. Dealers net short gamma must sell into weakness and buy into strength to maintain delta-neutrality, which amplifies realized volatility and tends to accelerate directional moves.
- What does WFC GEX tell options traders?
- GEX is a regime indicator: positive-gamma regimes favor mean-reverting strategies (premium-selling near established ranges); negative-gamma regimes favor momentum and breakout strategies. The same options-strategy structure can be appropriate or inappropriate depending on the dealer-gamma regime, so reading the sign and magnitude of net GEX before sizing positions is standard practice.