Wells Fargo & Co. (NYSE: WFC) is surging this morning considering that it is a super-regional bank without a news release of its own. Its shares are up 4% at $27.35 but only on about 350,000 shares as of 8:54 AM EST. This was raised at Goldman Sachs to BUY and that appears to be exactly what traders are doing. Interestngly enough, this stock has petered out when it gets north of $28.00 and we could not help but noticing in this weekend’s unusual suspects that traders were buying downside protection via put options ahead of earnings season. With an average volume of over 50 million shares, you can count on the trading volume to pick up drastically after the specialist-led NYSE stock gets closer and closer to the 9:30 AM EST opening bell. -JON OGG
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