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 12 extraordinary options activities for Wayfair. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 41% leaning bullish and 41% bearish. Among these notable options, 2 are puts, totaling $67,710, and 10 are calls, amounting to $905,356.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $75.0 to $100.0 for Wayfair over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Wayfair stands at 838.67, with a total volume reaching 1,889.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Wayfair, situated within the strike price corridor from $75.0 to $100.0, throughout the last 30 days.
Wayfair Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| W | CALL | TRADE | BEARISH | 01/17/25 | $11.25 | $10.95 | $11.0 | $90.00 | $385.0K | 356 | 352 |
| W | CALL | TRADE | NEUTRAL | 01/16/26 | $19.25 | $16.4 | $17.63 | $100.00 | $149.8K | 54 | 0 |
| W | CALL | SWEEP | NEUTRAL | 08/16/24 | $6.5 | $6.1 | $6.3 | $85.00 | $63.0K | 1.3K | 220 |
| W | CALL | SWEEP | BEARISH | 08/16/24 | $6.2 | $6.15 | $6.15 | $85.00 | $61.5K | 1.3K | 220 |
| W | CALL | SWEEP | BEARISH | 06/14/24 | $3.45 | $2.93 | $3.15 | $80.00 | $56.0K | 11 | 179 |
About Wayfair
Wayfair engages in e-commerce in the United States (87% of 2023 sales), Canada, the United Kingdom, Germany, and Ireland. At the end of 2023, the firm offered more than 30 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.
In light of the recent options history for Wayfair, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Wayfair's Current Market Status
- With a volume of 1,887,288, the price of W is up 0.88% at $72.0.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 79 days.
Professional Analyst Ratings for Wayfair
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $68.0.
- Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $75.
- Maintaining their stance, an analyst from BMO Capital continues to hold a Market Perform rating for Wayfair, targeting a price of $61.
- Consistent in their evaluation, an analyst from TD Cowen keeps a Hold rating on Wayfair with a target price of $58.
- An analyst from Bernstein has decided to maintain their Market Perform rating on Wayfair, which currently sits at a price target of $55.
- An analyst from Piper Sandler has revised its rating downward to Overweight, adjusting the price target to $91.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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