Whales with a lot of money to spend have taken a noticeably bullish stance on Western Digital.
Looking at options history for Western Digital WDC we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 58% of the investors opened trades with bullish expectations and 33% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $76,116 and 10, calls, for a total amount of $594,923.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $57.5 to $72.5 for Western Digital over the recent three months.
Volume & Open Interest Trends
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 $57.5 to $72.5 in the last 30 days.
Western Digital Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WDC | CALL | SWEEP | BULLISH | 08/02/24 | $5.4 | $5.0 | $5.4 | $64.00 | $162.0K | 1 | 0 |
| WDC | CALL | SWEEP | BULLISH | 08/16/24 | $1.67 | $1.51 | $1.67 | $72.50 | $83.5K | 9.9K | 2.2K |
| WDC | CALL | SWEEP | BULLISH | 08/16/24 | $1.66 | $1.47 | $1.64 | $72.50 | $83.3K | 9.9K | 1.2K |
| WDC | PUT | SWEEP | BEARISH | 07/26/24 | $1.18 | $0.89 | $1.08 | $68.00 | $48.8K | 2.3K | 459 |
| WDC | CALL | SWEEP | NEUTRAL | 08/16/24 | $2.89 | $2.74 | $2.86 | $69.00 | $45.7K | 40 | 160 |
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.
Following our analysis of the options activities associated with Western Digital, we pivot to a closer look at the company's own performance.
Current Position of Western Digital
- With a volume of 2,889,768, the price of WDC is up 2.24% at $67.98.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 5 days.
What The Experts Say On Western Digital
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $93.33333333333333.
- An analyst from Evercore ISI Group persists with their Outperform rating on Western Digital, maintaining a target price of $90.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Western Digital, targeting a price of $95.
- Consistent in their evaluation, an analyst from Wedbush keeps a Outperform rating on Western Digital with a target price of $95.
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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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