Investors with a lot of money to spend have taken a bearish 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 9 uncommon options trades for Workday.
This isn't normal.
The overall sentiment of these big-money traders is split between 22% bullish and 77%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $431,597, and 3 are calls, for a total amount of $260,099.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $230.0 and $320.0 for Workday, spanning the last three months.
Analyzing Volume & Open Interest
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 $230.0 to $320.0 over the preceding 30 days.
Workday Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WDAY | PUT | SWEEP | NEUTRAL | 09/20/24 | $240.00 | $138.3K | 66 | 420 |
| WDAY | CALL | SWEEP | NEUTRAL | 09/20/24 | $320.00 | $104.9K | 3 | 179 |
| WDAY | PUT | SWEEP | BEARISH | 09/20/24 | $240.00 | $96.8K | 66 | 155 |
| WDAY | CALL | SWEEP | BULLISH | 01/17/25 | $320.00 | $82.9K | 631 | 40 |
| WDAY | CALL | SWEEP | BULLISH | 09/20/24 | $320.00 | $72.2K | 3 | 79 |
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.
Present Market Standing of Workday
- With a volume of 190,918, the price of WDAY is up 0.6% at $283.02.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 39 days.
Expert Opinions on Workday
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $323.3333333333333.
- In a cautious move, an analyst from Keybanc downgraded its rating to Overweight, setting a price target of $310.
- An analyst from Piper Sandler downgraded its action to Overweight with a price target of $330.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Workday with a target price of $330.
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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