Deep-pocketed investors have adopted a bearish approach towards Wayfair W, 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 W usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Wayfair. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 62% bearish. Among these notable options, 2 are puts, totaling $63,165, and 6 are calls, amounting to $391,365.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $115.0 for Wayfair over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Wayfair options trades today is 2711.25 with a total volume of 1,002.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Wayfair's big money trades within a strike price range of $40.0 to $115.0 over the last 30 days.
Wayfair 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| W | CALL | TRADE | BEARISH | 09/20/24 | $12.25 | $12.0 | $12.0 | $45.00 | $120.0K | 3.2K | 101 |
| W | CALL | SWEEP | BULLISH | 08/02/24 | $4.9 | $4.85 | $4.9 | $53.00 | $106.3K | 628 | 244 |
| W | CALL | SWEEP | BEARISH | 08/16/24 | $0.91 | $0.76 | $0.76 | $70.00 | $76.1K | 4.0K | 50 |
| W | CALL | TRADE | BULLISH | 08/16/24 | $7.05 | $7.0 | $7.05 | $50.00 | $35.2K | 1.3K | 50 |
| W | PUT | SWEEP | BEARISH | 08/02/24 | $3.2 | $3.1 | $3.2 | $53.00 | $31.9K | 397 | 167 |
About Wayfair
Wayfair engages in e-commerce in the United States (87% of 2023 sales), Canada, the United Kingdom, Germany, and Ireland. At the end of 2023, the firm offered more than 30 million products from more than 20,000 suppliers under the brands Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold. Its offerings include furniture, everyday and seasonal decor, decorative accents, housewares, and other home goods. Wayfair was founded in 2002 and began trading publicly in 2014.
After a thorough review of the options trading surrounding Wayfair, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Wayfair's Current Market Status
- Currently trading with a volume of 4,892,444, the W's price is up by 2.98%, now at $54.6.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 3 days.
What Analysts Are Saying About Wayfair
In the last month, 2 experts released ratings on this stock with an average target price of $64.0.
- In a cautious move, an analyst from Wedbush downgraded its rating to Outperform, setting a price target of $70.
- Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Wayfair with a target price of $58.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Wayfair options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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