Smart Money Is Betting Big In WDC Options

High-rolling investors have positioned themselves bearish on Western Digital WDC, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in WDC often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 9 options trades for Western Digital. This is not a typical pattern.

The sentiment among these major traders is split, with 11% bullish and 77% bearish. Among all the options we identified, there was one put, amounting to $25,048, and 8 calls, totaling $310,424.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $85.0 for Western Digital over the recent three months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Western Digital options trades today is 5384.0 with a total volume of 15,084.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Western Digital's big money trades within a strike price range of $50.0 to $85.0 over the last 30 days.

Western Digital Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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

Current Position of Western Digital

• With a trading volume of 1,143,720, the price of WDC is up by 0.02%, reaching $64.64.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 13 days from now.

What Analysts Are Saying About Western Digital

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $80.0.

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. * Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Western Digital with a target price of $93. * An analyst from Goldman Sachs persists with their Neutral rating on Western Digital, maintaining a target price of $70. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Western Digital with a target price of $85. * Maintaining their stance, an analyst from Mizuho continues to hold a Outperform rating for Western Digital, targeting a price of $82. * An analyst from Benchmark downgraded its action to Buy with a price target of $70.

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 Western Digital, Benzinga Pro gives you real-time options trades alerts.