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 8 uncommon options trades for Western Digital.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $82,373, and 6 are calls, for a total amount of $340,590.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $90.0 for Western Digital over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $70.0 to $90.0 in the last 30 days.
Western Digital Option Volume And Open Interest Over 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 | BEARISH | 08/16/24 | $3.9 | $3.75 | $3.8 | $80.00 | $152.0K | 10.9K | 2 |
| WDC | CALL | SWEEP | BULLISH | 06/21/24 | $3.15 | $3.05 | $3.15 | $75.00 | $63.0K | 9.6K | 280 |
| WDC | PUT | SWEEP | BEARISH | 10/18/24 | $15.65 | $15.5 | $15.65 | $90.00 | $48.5K | 44 | 31 |
| WDC | CALL | SWEEP | BULLISH | 08/16/24 | $5.7 | $5.5 | $5.7 | $75.00 | $37.0K | 9.4K | 79 |
| WDC | CALL | SWEEP | BULLISH | 06/21/24 | $3.6 | $3.45 | $3.55 | $75.00 | $35.8K | 9.6K | 109 |
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.
After a thorough review of the options trading surrounding Western Digital, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Western Digital
- Currently trading with a volume of 3,374,658, the WDC's price is down by -1.84%, now at $76.0.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 60 days.
Professional Analyst Ratings for Western Digital
In the last month, 1 experts released ratings on this stock with an average target price of $90.0.
- An analyst from Citigroup downgraded its action to Buy with a price target of $90.
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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