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 13 uncommon options trades for Western Digital.
This isn't normal.
The overall sentiment of these big-money traders is split between 53% bullish and 38%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $118,680, and 10 are calls, for a total amount of $378,161.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $60.0 to $80.0 for Western Digital during the past quarter.
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 $60.0 to $80.0 over the preceding 30 days.
Western Digital Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WDC | CALL | SWEEP | BULLISH | 01/17/25 | $3.2 | $3.15 | $3.2 | $72.50 | $77.7K | 949 | 764 |
| WDC | CALL | SWEEP | BULLISH | 01/17/25 | $3.2 | $3.1 | $3.2 | $72.50 | $56.6K | 949 | 197 |
| WDC | CALL | SWEEP | BEARISH | 01/17/25 | $4.6 | $4.45 | $4.45 | $70.00 | $45.8K | 2.9K | 640 |
| WDC | PUT | TRADE | BULLISH | 12/20/24 | $1.1 | $1.03 | $1.05 | $62.50 | $43.8K | 3.1K | 1.7K |
| WDC | PUT | TRADE | BULLISH | 12/20/24 | $1.1 | $1.03 | $1.05 | $62.50 | $43.0K | 3.1K | 1.3K |
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.
In light of the recent options history for Western Digital, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Western Digital's Current Market Status
- Trading volume stands at 2,502,120, with WDC's price up by 3.48%, positioned at $69.16.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 78 days.
What Analysts Are Saying About Western Digital
5 market experts have recently issued ratings for this stock, with a consensus target price of $93.0.
Turn $1000 into $1270 in just 20 days?
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 Cantor Fitzgerald persists with their Overweight rating on Western Digital, maintaining a target price of $95. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Western Digital, targeting a price of $100. * Reflecting concerns, an analyst from Benchmark lowers its rating to Buy with a new price target of $92. * An analyst from Susquehanna has decided to maintain their Neutral rating on Western Digital, which currently sits at a price target of $83. * Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $95.
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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