20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Deep-pocketed investors have adopted a bearish approach towards Wayfair (NYSE: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 27 extraordinary options activities for Wayfair. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 55% bearish. Among these notable options, 5 are puts, totaling $218,094, and 22 are calls, amounting to $3,231,967.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $55.0 to $80.0 for Wayfair over the recent three months.
Volume & Open Interest Trends
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 $55.0 to $80.0 in the last 30 days.
Wayfair Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| W | CALL | TRADE | BULLISH | 05/17/24 | $70.00 | $1.1M | 2.7K | 2.0K |
| W | CALL | SWEEP | BEARISH | 05/17/24 | $70.00 | $970.9K | 2.7K | 3.6K |
| W | CALL | SWEEP | BULLISH | 05/17/24 | $60.00 | $101.0K | 2.8K | 239 |
| W | CALL | SWEEP | BULLISH | 05/17/24 | $60.00 | $85.0K | 2.8K | 489 |
| W | CALL | SWEEP | NEUTRAL | 05/17/24 | $65.00 | $83.0K | 729 | 105 |
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.
Present Market Standing of Wayfair
- Trading volume stands at 2,072,962, with W's price up by 0.87%, positioned at $63.9.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 37 days.
What Analysts Are Saying About Wayfair
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $76.0.
- In a cautious move, an analyst from Morgan Stanley downgraded its rating to Overweight, setting a price target of $80.
- An analyst from Mizuho downgraded its action to Buy with a price target of $72.
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.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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