Investors with a lot of money to spend have taken a bullish stance on Western Digital WDC.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with WDC, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 23 uncommon options trades for Western Digital.
This isn't normal.
The overall sentiment of these big-money traders is split between 43% bullish and 39%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $176,110, and 18 are calls, for a total amount of $1,047,907.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $55.0 to $105.0 for Western Digital over the recent three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Western Digital's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Western Digital's whale trades within a strike price range from $55.0 to $105.0 in the last 30 days.
Western Digital Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WDC | CALL | TRADE | BULLISH | 01/16/26 | $6.5 | $6.1 | $6.45 | $105.00 | $193.5K | 851 | 1 |
| WDC | CALL | SWEEP | BEARISH | 08/16/24 | $3.2 | $3.0 | $3.05 | $80.00 | $147.6K | 5.6K | 1.5K |
| WDC | CALL | SWEEP | BULLISH | 08/16/24 | $3.15 | $3.1 | $3.15 | $80.00 | $141.7K | 5.6K | 2.5K |
| WDC | CALL | SWEEP | BULLISH | 08/16/24 | $3.1 | $3.05 | $3.1 | $80.00 | $71.3K | 5.6K | 3.3K |
| WDC | CALL | TRADE | NEUTRAL | 08/16/24 | $19.75 | $19.1 | $19.46 | $55.00 | $58.3K | 173 | 30 |
About Western Digital
Western Digital is a leading vertically integrated supplier of data storage solutions, spanning both hard disk drives and solid-state drives. In the HDD market it forms a practical duopoly with Seagate, and it is the largest global producer of NAND flash chips for SSDs in a joint venture with competitor Kioxia.
Having examined the options trading patterns of Western Digital, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Western Digital Standing Right Now?
- With a trading volume of 3,040,944, the price of WDC is up by 0.57%, reaching $72.51.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 70 days from now.
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 Western Digital with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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