Deep-pocketed investors have adopted a bullish approach towards Workday WDAY, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in WDAY usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 18 extraordinary options activities for Workday. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 8 are puts, totaling $795,863, and 10 are calls, amounting to $560,301.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $240.0 to $300.0 for Workday over the recent three months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Workday's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Workday's substantial trades, within a strike price spectrum from $240.0 to $300.0 over the preceding 30 days.
Workday 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WDAY | PUT | SWEEP | BULLISH | 01/17/25 | $260.00 | $354.3K | 288 | 150 |
| WDAY | CALL | SWEEP | BEARISH | 01/17/25 | $270.00 | $207.3K | 356 | 98 |
| WDAY | PUT | SWEEP | BULLISH | 05/17/24 | $270.00 | $114.9K | 421 | 115 |
| WDAY | PUT | SWEEP | BULLISH | 09/20/24 | $280.00 | $89.4K | 177 | 41 |
| WDAY | PUT | SWEEP | BEARISH | 05/17/24 | $260.00 | $83.9K | 2.1K | 165 |
About Workday
Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions. Known for being a cloud-only software provider, Workday is headquartered in Pleasanton, California. Founded in 2005, Workday now employs over 18,000 employees.
Where Is Workday Standing Right Now?
- Currently trading with a volume of 1,844,977, the WDAY's price is down by -0.92%, now at $269.54.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 69 days.
What The Experts Say On Workday
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $290.0.
- An analyst from Guggenheim downgraded its action to Sell with a price target of $190.
- In a cautious move, an analyst from DA Davidson downgraded its rating to Neutral, setting a price target of $300.
- Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Workday, targeting a price of $350.
- An analyst from Goldman Sachs has decided to maintain their Buy rating on Workday, which currently sits at a price target of $310.
- An analyst from JP Morgan persists with their Overweight rating on Workday, maintaining a target price of $300.
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 Workday with Benzinga Pro for real-time alerts.
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