What the Options Market Tells Us About 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 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $229,083, and 2 are calls, for a total amount of $73,801.

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 $30.0 to $32.5 for Wayfair during the past quarter.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Wayfair stands at 1643.33, with a total volume reaching 2,456.00. 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 $30.0 to $32.5, throughout the last 30 days.

Wayfair 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About Wayfair

Wayfair engages in e-commerce in the United States (88% of 2024 sales), Canada, the United Kingdom, 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 2024, 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.

Having examined the options trading patterns of Wayfair, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Wayfair Standing Right Now?

• Trading volume stands at 1,337,526, with W's price up by 3.84%, positioned at $32.76.
• RSI indicators show the stock to be may be approaching oversold.
• Earnings announcement expected in 41 days.

Expert Opinions on 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 $47.6.

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. * An analyst from Needham downgraded its action to Buy with a price target of $50. * An analyst from Loop Capital persists with their Hold rating on Wayfair, maintaining a target price of $45. * An analyst from JP Morgan persists with their Overweight rating on Wayfair, maintaining a target price of $50. * Consistent in their evaluation, an analyst from Stifel keeps a Hold rating on Wayfair with a target price of $46. * In a positive move, an analyst from Jefferies has upgraded their rating to Buy and adjusted the price target to $47.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Wayfair options trades with real-time alerts from Benzinga Pro.