Deep-pocketed investors have adopted a bullish approach towards Workday WDAY, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in WDAY usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Workday. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 70% leaning bullish and 30% bearish. Among these notable options, 2 are puts, totaling $193,725, and 8 are calls, amounting to $452,630.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $195.0 to $320.0 for Workday over the recent three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Workday stands at 737.44, with a total volume reaching 314.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Workday, situated within the strike price corridor from $195.0 to $320.0, throughout the last 30 days.
Workday Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WDAY | PUT | SWEEP | BULLISH | 01/17/25 | $310.00 | $116.2K | 23 | 47 |
| WDAY | CALL | SWEEP | BEARISH | 01/19/24 | $195.00 | $86.5K | 1.2K | 11 |
| WDAY | PUT | SWEEP | BULLISH | 01/17/25 | $310.00 | $77.4K | 23 | 26 |
| WDAY | CALL | SWEEP | BEARISH | 01/19/24 | $240.00 | $69.8K | 584 | 74 |
| WDAY | CALL | TRADE | BULLISH | 03/15/24 | $240.00 | $67.6K | 904 | 20 |
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 is headquartered in Pleasanton, California. Founded in 2005, Workday now employs over 12,000 employees.
In light of the recent options history for Workday, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Workday's Current Market Status
- With a volume of 831,336, the price of WDAY is down -0.82% at $261.32.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 88 days.
What The Experts Say On Workday
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $284.8.
- Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Workday, targeting a price of $300.
- Consistent in their evaluation, an analyst from Canaccord Genuity keeps a Buy rating on Workday with a target price of $290.
- An analyst from BMO Capital has decided to maintain their Outperform rating on Workday, which currently sits at a price target of $290.
- An analyst from Barclays has decided to maintain their Overweight rating on Workday, which currently sits at a price target of $274.
- Consistent in their evaluation, an analyst from JMP Securities keeps a Market Outperform rating on Workday with a target price of $270.
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 Workday options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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