Check Out What Whales Are Doing With Wayfair

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 8 uncommon options trades for Wayfair.

This isn't normal.

The overall sentiment of these big-money traders is split between 75% bullish and 12%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $154,860, and 4 are calls, for a total amount of $198,386.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $55.0 for Wayfair during the past quarter.

Insights into Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Wayfair'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 Wayfair's whale trades within a strike price range from $40.0 to $55.0 in the last 30 days.

Wayfair 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

About Wayfair

Wayfair engages in e-commerce in the United States (87% of 2023 sales), Canada, the United Kingdom, Germany, and Ireland. It's also 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.

After a thorough review of the options trading surrounding Wayfair, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Present Market Standing of Wayfair

• Currently trading with a volume of 2,250,184, the W's price is up by 2.03%, now at $46.33.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 83 days.

Expert Opinions on Wayfair

5 market experts have recently issued ratings for this stock, with a consensus target price of $52.0.

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. * Consistent in their evaluation, an analyst from Baird keeps a Neutral rating on Wayfair with a target price of $50. * An analyst from Truist Securities persists with their Buy rating on Wayfair, maintaining a target price of $55. * Maintaining their stance, an analyst from Mizuho continues to hold a Outperform rating for Wayfair, targeting a price of $60. * An analyst from BMO Capital has decided to maintain their Market Perform rating on Wayfair, which currently sits at a price target of $50. * Consistent in their evaluation, an analyst from Wedbush keeps a Outperform rating on Wayfair with a target price of $45.

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.