Looking At Wayfair's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bullish stance on Wayfair W.

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 W, 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 13 uncommon options trades for Wayfair.

This isn't normal.

The overall sentiment of these big-money traders is split between 76% bullish and 23%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $222,385, and 7 are calls, for a total amount of $244,524.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $25.0 to $80.0 for Wayfair 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 Wayfair'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 Wayfair's whale activity within a strike price range from $25.0 to $80.0 in the last 30 days.

Wayfair Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

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.

Where Is Wayfair Standing Right Now?

• With a volume of 4,215,738, the price of W is up 1.77% at $58.06.
• RSI indicators hint that the underlying stock may be oversold.
• Next earnings are expected to be released in 51 days.

What Analysts Are Saying About Wayfair

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $82.66666666666667.

• An analyst from Argus Research upgraded its action to Buy with a price target of $83.
• Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $75.
• An analyst from Morgan Stanley has decided to maintain their Overweight rating on Wayfair, which currently sits at a price target of $90.

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 Wayfair, Benzinga Pro gives you real-time options trades alerts.