Whales with a lot of money to spend have taken a noticeably bearish stance on Western Digital.
Looking at options history for Western Digital WDC we detected 19 trades.
If we consider the specifics of each trade, it is accurate to state that 21% of the investors opened trades with bullish expectations and 73% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $1,163,308 and 13, calls, for a total amount of $902,600.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $45.0 to $85.0 for Western Digital during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Western Digital options trades today is 1739.17 with a total volume of 8,139.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Western Digital's big money trades within a strike price range of $45.0 to $85.0 over the last 30 days.
Western Digital Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WDC | PUT | TRADE | BEARISH | 08/02/24 | $2.61 | $2.32 | $2.58 | $68.00 | $627.1K | 24 | 695 |
| WDC | CALL | SWEEP | BULLISH | 08/16/24 | $5.0 | $4.85 | $5.0 | $67.50 | $150.0K | 512 | 200 |
| WDC | CALL | TRADE | BEARISH | 10/18/24 | $2.6 | $2.51 | $2.52 | $80.00 | $148.1K | 9.2K | 1.5K |
| WDC | PUT | SWEEP | BEARISH | 08/02/24 | $3.2 | $3.0 | $3.15 | $69.00 | $143.3K | 30 | 418 |
| WDC | PUT | SWEEP | BEARISH | 08/02/24 | $3.2 | $2.96 | $3.2 | $69.00 | $134.3K | 30 | 873 |
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.
Where Is Western Digital Standing Right Now?
- With a trading volume of 3,369,772, the price of WDC is down by -3.47%, reaching $69.3.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 13 days from now.
What Analysts Are Saying About Western Digital
2 market experts have recently issued ratings for this stock, with a consensus target price of $92.5.
- Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Western Digital with a target price of $95.
- An analyst from Evercore ISI Group persists with their Outperform rating on Western Digital, maintaining a target price of $90.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Western Digital, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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