High-rolling investors have positioned themselves bullish on Wayfair W, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in W often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 13 options trades for Wayfair. This is not a typical pattern.
The sentiment among these major traders is split, with 69% bullish and 15% bearish. Among all the options we identified, there was one put, amounting to $31,700, and 12 calls, totaling $803,662.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $49.5 to $100.0 for Wayfair during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Wayfair stands at 1103.0, with a total volume reaching 6,633.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Wayfair, situated within the strike price corridor from $49.5 to $100.0, throughout 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 | SWEEP | BULLISH | 11/15/24 | $4.3 | $4.05 | $4.3 | $55.00 | $211.1K | 2.7K | 494 |
| W | CALL | SWEEP | BULLISH | 11/15/24 | $4.55 | $4.15 | $4.5 | $55.00 | $98.1K | 2.7K | 1.4K |
| W | CALL | SWEEP | BULLISH | 11/15/24 | $4.5 | $4.15 | $4.5 | $55.00 | $84.6K | 2.7K | 1.4K |
| W | CALL | SWEEP | BULLISH | 11/15/24 | $4.55 | $4.45 | $4.45 | $55.00 | $73.1K | 2.7K | 674 |
| W | CALL | SWEEP | BULLISH | 11/15/24 | $4.55 | $4.5 | $4.5 | $55.00 | $64.3K | 2.7K | 855 |
About Wayfair
Wayfair engages in e-commerce in the United States (87% of 2023 sales), Canada, the United Kingdom, Germany, and Ireland. It's recently embarked on expansion into the brick-and-mortar landscape, with a handful of stores between the AllModern, Birch Lane, Joss & Main, and Wayfair banners. 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.
Current Position of Wayfair
- Currently trading with a volume of 904,024, the W's price is up by 1.23%, now at $51.07.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 42 days.
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 Wayfair, 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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