Smart Money Is Betting Big In Wayfair Options

High-rolling investors have positioned themselves bullish on Wayfair W, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in W often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 17 options trades for Wayfair. This is not a typical pattern.

The sentiment among these major traders is split, with 52% bullish and 47% bearish. Among all the options we identified, there was one put, amounting to $65,200, and 16 calls, totaling $1,621,052.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $50.0 and $120.0 for Wayfair, spanning the last three months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Wayfair stands at 1377.3, with a total volume reaching 13,611.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Wayfair, situated within the strike price corridor from $50.0 to $120.0, throughout the last 30 days.

Wayfair Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About Wayfair

Wayfair engages in e-commerce in the United States (86% of 2022 sales), Canada, the United Kingdom, Germany, and Ireland. At the end of 2022, the firm offered more than 40 million products from more than 20,000 suppliers under the brands Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold. Its offerings include furniture, everyday and seasonal decor, decorative accents, housewares, and other home goods. Wayfair was founded in 2002 and began trading publicly in 2014.

Having examined the options trading patterns of Wayfair, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Wayfair Standing Right Now?

• With a volume of 3,297,493, the price of W is up 2.88% at $54.0.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 65 days.

Professional Analyst Ratings for Wayfair

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $74.0.

• An analyst from Wedbush has revised its rating downward to Outperform, adjusting the price target to $70.
• Consistent in their evaluation, an analyst from RBC Capital keeps a Sector Perform rating on Wayfair with a target price of $62.
• An analyst from Canaccord Genuity downgraded its action to Buy with a price target of $80.
• Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $70.
• Reflecting concerns, an analyst from Piper Sandler lowers its rating to Overweight with a new price target of $88.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Wayfair with Benzinga Pro for real-time alerts.