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 31 extraordinary options activities for Wayfair. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 48% leaning bullish and 48% bearish. Among these notable options, 6 are puts, totaling $421,571, and 25 are calls, amounting to $2,069,112.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $45.0 to $120.0 for Wayfair during the past quarter.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Wayfair's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Wayfair's significant trades, within a strike price range of $45.0 to $120.0, over the past month.
Wayfair Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| W | CALL | TRADE | BULLISH | 09/20/24 | $7.95 | $7.8 | $7.9 | $50.00 | $395.0K | 233 | 12 |
| W | PUT | SWEEP | BEARISH | 01/17/25 | $17.0 | $16.65 | $16.72 | $65.00 | $234.0K | 715 | 0 |
| W | CALL | SWEEP | BEARISH | 07/19/24 | $8.15 | $8.0 | $8.0 | $45.00 | $160.0K | 10 | 1.9K |
| W | CALL | SWEEP | BEARISH | 07/19/24 | $8.65 | $8.4 | $8.4 | $45.00 | $130.8K | 10 | 732 |
| W | CALL | SWEEP | BEARISH | 07/19/24 | $8.85 | $8.65 | $8.65 | $45.00 | $129.7K | 10 | 100 |
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.
Following our analysis of the options activities associated with Wayfair, we pivot to a closer look at the company's own performance.
Current Position of Wayfair
- With a trading volume of 2,431,628, the price of W is down by -5.15%, reaching $51.76.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 48 days from now.
Professional Analyst Ratings for Wayfair
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $79.0.
- In a positive move, an analyst from Argus Research has upgraded their rating to Buy and adjusted the price target to $83.
- An analyst from Needham downgraded its action to Buy with a price target 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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