Deep-pocketed investors have adopted a bullish approach towards Workday WDAY, 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 WDAY usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 22 extraordinary options activities for Workday. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 31% bearish. Among these notable options, 9 are puts, totaling $776,144, and 13 are calls, amounting to $636,568.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $207.5 to $300.0 for Workday over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Workday'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 Workday's whale trades within a strike price range from $207.5 to $300.0 in the last 30 days.
Workday Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WDAY | PUT | SWEEP | BEARISH | 01/16/26 | $54.1 | $51.2 | $53.4 | $300.00 | $234.9K | 12 | 100 |
| WDAY | CALL | TRADE | BEARISH | 10/18/24 | $40.8 | $39.0 | $39.5 | $230.00 | $106.6K | 107 | 28 |
| WDAY | PUT | TRADE | BEARISH | 01/16/26 | $54.0 | $51.6 | $53.5 | $300.00 | $101.6K | 12 | 56 |
| WDAY | PUT | TRADE | BEARISH | 01/16/26 | $55.0 | $51.0 | $53.4 | $300.00 | $101.4K | 12 | 37 |
| WDAY | PUT | TRADE | BEARISH | 01/16/26 | $52.9 | $52.8 | $52.9 | $300.00 | $95.2K | 12 | 18 |
About Workday
Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions. Known for being a cloud-only software provider, Workday is headquartered in Pleasanton, California. Founded in 2005, Workday now employs over 18,000 employees.
In light of the recent options history for Workday, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Workday
- With a trading volume of 2,503,268, the price of WDAY is up by 1.66%, reaching $264.68.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 91 days from now.
What The Experts Say On Workday
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $304.0.
- Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Workday with a target price of $265.
- An analyst from Keybanc has decided to maintain their Overweight rating on Workday, which currently sits at a price target of $305.
- Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for Workday, targeting a price of $300.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Workday, targeting a price of $300.
- In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $350.
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 Workday 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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