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 14 extraordinary options activities for Wayfair. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 64% leaning bullish and 28% bearish. Among these notable options, 10 are puts, totaling $1,385,552, and 4 are calls, amounting to $299,855.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $50.0 for Wayfair during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Wayfair stands at 592.57, with a total volume reaching 6,616.00. 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 $40.0 to $50.0, throughout the last 30 days.
Wayfair Option Volume And Open Interest Over 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 | PUT | SWEEP | BULLISH | 06/20/25 | $10.45 | $10.3 | $10.35 | $45.00 | $517.5K | 779 | 517 |
| W | PUT | TRADE | BULLISH | 02/21/25 | $6.0 | $5.85 | $5.9 | $40.00 | $295.0K | 802 | 501 |
| W | PUT | SWEEP | BULLISH | 09/20/24 | $7.7 | $7.5 | $7.55 | $50.00 | $263.1K | 1.9K | 859 |
| W | CALL | SWEEP | BEARISH | 02/21/25 | $10.9 | $10.8 | $10.85 | $40.00 | $116.7K | 30 | 117 |
| W | PUT | SWEEP | BULLISH | 09/20/24 | $7.7 | $7.5 | $7.55 | $50.00 | $85.4K | 1.9K | 1.1K |
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.
Wayfair's Current Market Status
- Trading volume stands at 2,462,632, with W's price down by -0.72%, positioned at $44.06.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 85 days.
What Analysts Are Saying About Wayfair
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $66.2.
- An analyst from Deutsche Bank persists with their Buy rating on Wayfair, maintaining a target price of $70.
- Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Wayfair with a target price of $70.
- Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Wayfair with a target price of $58.
- An analyst from JP Morgan has decided to maintain their Overweight rating on Wayfair, which currently sits at a price target of $63.
- Maintaining their stance, an analyst from Guggenheim continues to hold a Buy rating for Wayfair, targeting a price of $70.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Wayfair with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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