Workday Unusual Options Activity For February 27

Investors with a lot of money to spend have taken a bullish stance on Workday WDAY.

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 WDAY, 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 Workday.

This isn't normal.

The overall sentiment of these big-money traders is split between 37% bullish and 25%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $111,460, and 5 are calls, for a total amount of $309,230.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $185.0 to $300.0 for Workday over the last 3 months.

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 Workday's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Workday's substantial trades, within a strike price spectrum from $185.0 to $300.0 over the preceding 30 days.

Workday Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

About Workday

Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions. Known for being a cloud-only software provider, Workday was founded in 2005 and is headquartered in Pleasanton, California.

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

Where Is Workday Standing Right Now?

• With a trading volume of 1,341,891, the price of WDAY is down by -0.4%, reaching $270.0.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 84 days from now.

What The Experts Say On Workday

In the last month, 5 experts released ratings on this stock with an average target price of $301.0.

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 JMP Securities downgraded its action to Market Outperform with a price target of $315. * In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $300. * An analyst from Goldman Sachs has decided to maintain their Buy rating on Workday, which currently sits at a price target of $345. * Maintaining their stance, an analyst from Loop Capital continues to hold a Hold rating for Workday, targeting a price of $260. * Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Workday with a target price of $285.

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 Workday with Benzinga Pro for real-time alerts.