Investors with a lot of money to spend have taken a bullish stance on Western Digital WDC.
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 WDC, 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 8 uncommon options trades for Western Digital.
This isn't normal.
The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $124,140, and 5 are calls, for a total amount of $378,450.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $62.5 to $66.0 for Western Digital over the last 3 months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Western Digital's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Western Digital's substantial trades, within a strike price spectrum from $62.5 to $66.0 over the preceding 30 days.
Western Digital Option Activity Analysis: 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 | CALL | SWEEP | BULLISH | 11/15/24 | $6.85 | $6.5 | $6.5 | $62.50 | $130.0K | 975 | 0 |
| WDC | CALL | SWEEP | BULLISH | 11/15/24 | $6.45 | $6.45 | $6.45 | $62.50 | $129.0K | 975 | 400 |
| WDC | CALL | SWEEP | BULLISH | 11/15/24 | $6.5 | $6.4 | $6.5 | $62.50 | $65.0K | 975 | 500 |
| WDC | PUT | SWEEP | BULLISH | 10/18/24 | $2.26 | $2.1 | $2.1 | $65.00 | $42.1K | 5.6K | 400 |
| WDC | PUT | SWEEP | BEARISH | 10/18/24 | $2.41 | $2.05 | $2.05 | $65.00 | $40.9K | 5.6K | 600 |
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.
Present Market Standing of Western Digital
- With a trading volume of 477,137, the price of WDC is up by 2.24%, reaching $65.86.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 39 days from now.
Professional Analyst Ratings for Western Digital
In the last month, 3 experts released ratings on this stock with an average target price of $81.66666666666667.
- An analyst from TD Cowen persists with their Buy rating on Western Digital, maintaining a target price of $80.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $80.
- Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Western Digital with a target price of $85.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Western Digital with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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