Looking At Wayfair's Recent Unusual Options Activity

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 16 extraordinary options activities for Wayfair. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 68% leaning bullish and 25% bearish. Among these notable options, 5 are puts, totaling $324,922, and 11 are calls, amounting to $502,588.

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 $32.5 to $95.0 for Wayfair during the past quarter.

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 $32.5 to $95.0 in the last 30 days.

Wayfair 30-Day Option Volume & Interest Snapshot

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. It's also embarked on expansion into the brick-and-mortar landscape, with a handful of stores between the AllModern, Birch Lane, Joss & Main, and Wayfair banners. 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?

• Currently trading with a volume of 4,770,975, the W's price is down by -0.55%, now at $39.57.
• RSI readings suggest the stock is currently may be oversold.
• Anticipated earnings release is in 104 days.

What The Experts Say On Wayfair

In the last month, 5 experts released ratings on this stock with an average target price of $50.2.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Wedbush has decided to maintain their Outperform rating on Wayfair, which currently sits at a price target of $45. * An analyst from Needham downgraded its action to Buy with a price target of $60. * An analyst from RBC Capital has decided to maintain their Sector Perform rating on Wayfair, which currently sits at a price target of $50. * Maintaining their stance, an analyst from Deutsche Bank continues to hold a Buy rating for Wayfair, targeting a price of $46. * An analyst from Baird has decided to maintain their Neutral rating on Wayfair, which currently sits at a price target of $50.

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.