Behind the Scenes of Western Digital's Latest Options Trends

Deep-pocketed investors have adopted a bullish approach towards Western Digital WDC, 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 WDC usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Western Digital. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 63% leaning bullish and 18% bearish. Among these notable options, 3 are puts, totaling $173,535, and 8 are calls, amounting to $838,808.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $60.0 and $85.0 for Western Digital, spanning the last three months.

Analyzing Volume & Open Interest

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 $60.0 to $85.0 in the last 30 days.

Western Digital Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

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.

Having examined the options trading patterns of Western Digital, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Western Digital Standing Right Now?

• With a volume of 2,216,198, the price of WDC is down -0.92% at $65.83.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 20 days.

What The Experts Say On Western Digital

In the last month, 4 experts released ratings on this stock with an average target price of $84.25.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from TD Cowen has decided to maintain their Buy rating on Western Digital, which currently sits at a price target of $80. * Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new 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. * In a cautious move, an analyst from Benchmark downgraded its rating to Buy, setting a price target of $92.

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