Whales with a lot of money to spend have taken a noticeably bearish stance on Workday.
Looking at options history for Workday WDAY we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 75% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $101,265 and 5, calls, for a total amount of $519,805.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $200.0 to $410.0 for Workday over the recent three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Workday's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Workday's whale activity within a strike price range from $200.0 to $410.0 in the last 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 | CALL | TRADE | BEARISH | 03/15/24 | $350.00 | $283.5K | 124 | 900 |
| WDAY | CALL | TRADE | BEARISH | 06/21/24 | $200.00 | $99.7K | 147 | 9 |
| WDAY | CALL | SWEEP | BULLISH | 09/20/24 | $300.00 | $82.1K | 138 | 27 |
| WDAY | PUT | SWEEP | BEARISH | 04/19/24 | $320.00 | $45.1K | 0 | 34 |
| WDAY | PUT | TRADE | BULLISH | 06/21/24 | $280.00 | $29.5K | 437 | 2 |
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.
Having examined the options trading patterns of Workday, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Workday
- With a trading volume of 869,894, the price of WDAY is up by 0.5%, reaching $306.63.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 10 days from now.
Expert Opinions on Workday
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $326.5.
- An analyst from BMO Capital persists with their Outperform rating on Workday, maintaining a target price of $338.
- An analyst from JMP Securities persists with their Market Outperform rating on Workday, maintaining a target price of $315.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
