A whale with a lot of money to spend has taken a noticeably bearish stance on Workday.
Looking at options history for Workday WDAY we detected 16 strange trades.
If we consider the specifics of each trade, it is accurate to state that 31% of the investors opened trades with bullish expectations and 68% with bearish.
From the overall spotted trades, 11 are puts, for a total amount of $1,238,307 and 5, calls, for a total amount of $359,712.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $190.0 to $320.0 for Workday over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Workday options trades today is 382.7 with a total volume of 1,335.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Workday's big money trades within a strike price range of $190.0 to $320.0 over the last 30 days.
Workday Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WDAY | PUT | TRADE | BEARISH | 03/15/24 | $250.00 | $836.0K | 51 | 400 |
| WDAY | CALL | SWEEP | BEARISH | 01/17/25 | $250.00 | $140.1K | 289 | 0 |
| WDAY | CALL | TRADE | BEARISH | 01/17/25 | $250.00 | $114.6K | 289 | 41 |
| WDAY | PUT | SWEEP | BEARISH | 06/21/24 | $220.00 | $74.1K | 207 | 201 |
| WDAY | CALL | SWEEP | NEUTRAL | 06/21/24 | $320.00 | $49.8K | 59 | 113 |
Where Is Workday Standing Right Now?
- With a volume of 589,882, the price of WDAY is down -0.95% at $245.38.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 76 days.
What The Experts Say On Workday:
- Guggenheim has decided to maintain their Sell rating on Workday, which currently sits at a price target of $169.
- JMP Securities downgraded its action to Market Outperform with a price target of $260
- Needham has decided to maintain their Buy rating on Workday, which currently sits at a price target of $250.
- Bernstein has decided to maintain their Outperform rating on Workday, which currently sits at a price target of $284.
- Jefferies has decided to maintain their Buy rating on Workday, which currently sits at a price target of $275.
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 Workday, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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