Investors with a lot of money to spend have taken a bearish stance on Williams-Sonoma WSM.
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 WSM, 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 12 uncommon options trades for Williams-Sonoma.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.
Out of all of the special options we uncovered, 9 are puts, for a total amount of $381,921, and 3 are calls, for a total amount of $168,940.
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 $130.0 to $150.0 for Williams-Sonoma over the last 3 months.
Volume & Open Interest Trends
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 Williams-Sonoma'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 Williams-Sonoma's whale trades within a strike price range from $130.0 to $150.0 in the last 30 days.
Williams-Sonoma 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WSM | PUT | SWEEP | BEARISH | 09/20/24 | $3.4 | $3.2 | $3.3 | $145.00 | $129.3K | 246 | 430 |
| WSM | CALL | SWEEP | BULLISH | 09/20/24 | $1.05 | $0.55 | $1.03 | $150.00 | $101.4K | 1.7K | 1.3K |
| WSM | PUT | SWEEP | BULLISH | 09/20/24 | $3.6 | $3.5 | $3.5 | $145.00 | $45.5K | 246 | 575 |
| WSM | PUT | SWEEP | BEARISH | 10/18/24 | $2.3 | $2.3 | $2.3 | $130.00 | $37.9K | 744 | 415 |
| WSM | CALL | TRADE | BEARISH | 10/18/24 | $17.3 | $16.9 | $16.9 | $130.00 | $35.4K | 94 | 31 |
About Williams-Sonoma
With a retail and direct-to-consumer presence, Williams-Sonoma is a player in the $300 billion domestic home category and $450 billion international home market, focused on expanding its exposure in the B2B ($80 billion total addressable market), marketplace, and franchise areas. Namesake Williams-Sonoma (156 stores) offers high-end cooking essentials, while Pottery Barn (184) provides casual home accessories. West Elm (121) is an emerging concept for young professionals, and Rejuvenation (11) offers lighting and house parts. Brand extensions include Pottery Barn Kids and PBteen (45) as well as Mark & Graham and Greenrow. Williams-Sonoma also has a business-to-business team that supports projects that range from residential to large-scale commercial.
After a thorough review of the options trading surrounding Williams-Sonoma, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Williams-Sonoma
- With a trading volume of 1,292,374, the price of WSM is up by 6.13%, reaching $144.19.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 62 days from now.
What Analysts Are Saying About Williams-Sonoma
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $155.0.
- Consistent in their evaluation, an analyst from Wedbush keeps a Outperform rating on Williams-Sonoma with a target price of $150.
- An analyst from Telsey Advisory Group has decided to maintain their Outperform rating on Williams-Sonoma, which currently sits at a price target of $165.
- Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Outperform rating for Williams-Sonoma, targeting a price of $170.
- An analyst from Baird persists with their Neutral rating on Williams-Sonoma, maintaining a target price of $140.
- An analyst from TD Cowen has decided to maintain their Buy rating on Williams-Sonoma, which currently sits at a price target of $150.
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 Williams-Sonoma, 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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