A Closer Look at Wayfair's Options Market Dynamics

Deep-pocketed investors have adopted a bullish approach towards Wayfair W, 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 W usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 17 extraordinary options activities for Wayfair. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 64% leaning bullish and 35% bearish. Among these notable options, 3 are puts, totaling $257,958, and 14 are calls, amounting to $963,618.

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Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $35.0 to $80.0 for Wayfair over the last 3 months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Wayfair options trades today is 2485.12 with a total volume of 10,877.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Wayfair's big money trades within a strike price range of $35.0 to $80.0 over the last 30 days.

Wayfair Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

About Wayfair

Wayfair engages in e-commerce in the United States (86% of 2022 sales), Canada, the United Kingdom, Germany, and Ireland. At the end of 2022, the firm offered more than 40 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.

After a thorough review of the options trading surrounding Wayfair, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Present Market Standing of Wayfair

• Trading volume stands at 3,572,324, with W's price down by -0.59%, positioned at $52.45.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 86 days.

Professional Analyst Ratings for 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 $64.6.

• Reflecting concerns, an analyst from Deutsche Bank lowers its rating to Buy with a new price target of $55.
• An analyst from Guggenheim persists with their Buy rating on Wayfair, maintaining a target price of $65.
• Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Wayfair with a target price of $73.
• Consistent in their evaluation, an analyst from RBC Capital keeps a Sector Perform rating on Wayfair with a target price of $55.
• Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Wayfair, targeting a price of $75.

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.