Market Whales and Their Recent Bets on Wayfair Options

Investors with a lot of money to spend have taken a bullish stance on Wayfair W.

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 W, 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 27 uncommon options trades for Wayfair.

This isn't normal.

The overall sentiment of these big-money traders is split between 44% bullish and 40%, bearish.

Out of all of the special options we uncovered, 16 are puts, for a total amount of $890,388, and 11 are calls, for a total amount of $519,980.

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 $37.5 and $100.0 for Wayfair, spanning the last three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Wayfair stands at 1519.25, with a total volume reaching 10,300.00. 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 $37.5 to $100.0, throughout the last 30 days.

Wayfair Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

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.

Following our analysis of the options activities associated with Wayfair, we pivot to a closer look at the company's own performance.

Where Is Wayfair Standing Right Now?

• Trading volume stands at 4,170,760, with W's price up by 1.39%, positioned at $40.71.
• RSI indicators show the stock to be may be oversold.
• Earnings announcement expected in 108 days.

Professional Analyst Ratings for Wayfair

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $56.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Wayfair, targeting a price of $50. * An analyst from Piper Sandler persists with their Overweight rating on Wayfair, maintaining a target price of $63. * Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $60. * In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $60. * An analyst from Stifel persists with their Hold rating on Wayfair, maintaining a target price of $47.

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 Wayfair with Benzinga Pro for real-time alerts.