Deep-pocketed investors have adopted a bullish approach towards Western Digital WDC, 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 WDC usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Western Digital. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 70% leaning bullish and 30% bearish. Among these notable options, 3 are puts, totaling $477,746, and 7 are calls, amounting to $251,770.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $70.0 to $100.0 for Western Digital during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Western Digital options trades today is 591.38 with a total volume of 228.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Western Digital's big money trades within a strike price range of $70.0 to $100.0 over the last 30 days.
Western Digital Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WDC | PUT | TRADE | BULLISH | 01/17/25 | $25.8 | $25.15 | $25.4 | $100.00 | $177.8K | 71 | 0 |
| WDC | PUT | SWEEP | BULLISH | 09/20/24 | $8.2 | $8.05 | $8.05 | $80.00 | $171.5K | 290 | 0 |
| WDC | PUT | SWEEP | BULLISH | 10/18/24 | $4.1 | $3.95 | $3.95 | $70.00 | $128.3K | 239 | 1 |
| WDC | CALL | SWEEP | BULLISH | 07/05/24 | $1.61 | $0.84 | $1.41 | $79.00 | $70.5K | 37 | 0 |
| WDC | CALL | SWEEP | BULLISH | 01/17/25 | $10.65 | $10.45 | $10.55 | $75.00 | $46.4K | 2.8K | 0 |
About Western Digital
Western Digital is a leading vertically integrated supplier of data storage solutions, spanning both hard disk drives and solid-state drives. In the HDD market it forms a practical duopoly with Seagate, and it is the largest global producer of NAND flash chips for SSDs in a joint venture with competitor Kioxia.
In light of the recent options history for Western Digital, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Western Digital's Current Market Status
- With a trading volume of 1,476,483, the price of WDC is down by -0.85%, reaching $75.64.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 38 days from now.
What Analysts Are Saying About Western Digital
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $98.6.
- An analyst from Mizuho persists with their Buy rating on Western Digital, maintaining a target price of $90.
- Maintaining their stance, an analyst from Susquehanna continues to hold a Neutral rating for Western Digital, targeting a price of $88.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $100.
- An analyst from Loop Capital persists with their Buy rating on Western Digital, maintaining a target price of $100.
- An analyst from Rosenblatt has decided to maintain their Buy rating on Western Digital, which currently sits at a price target of $115.
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 Western Digital 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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