Whales with a lot of money to spend have taken a noticeably bearish stance on Western Digital.
Looking at options history for Western Digital WDC we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 55% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $60,874 and 7, calls, for a total amount of $307,607.
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 $50.0 to $60.0 for Western Digital over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Western Digital options trades today is 3509.89 with a total volume of 1,016.00.
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 $50.0 to $60.0 over the last 30 days.
Western Digital Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WDC | CALL | SWEEP | BULLISH | 01/26/24 | $54.00 | $51.4K | 630 | 100 |
| WDC | CALL | SWEEP | BEARISH | 03/15/24 | $60.00 | $51.2K | 5.3K | 233 |
| WDC | CALL | TRADE | BEARISH | 02/16/24 | $55.00 | $50.0K | 13.5K | 107 |
| WDC | CALL | SWEEP | BULLISH | 01/26/24 | $60.00 | $44.0K | 2.1K | 20 |
| WDC | CALL | TRADE | BULLISH | 02/23/24 | $50.00 | $43.4K | 2 | 50 |
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.
Having examined the options trading patterns of Western Digital, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Western Digital's Current Market Status
- Trading volume stands at 1,523,705, with WDC's price up by 2.22%, positioned at $59.01.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 1 days.
What The Experts Say On Western Digital
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $65.0.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $70.
- In a positive move, an analyst from Deutsche Bank has upgraded their rating to Buy and adjusted the price target to $65.
- An analyst from Raymond James persists with their Outperform rating on Western Digital, maintaining a target price of $60.
- An analyst from Barclays upgraded its action to Overweight with a price target of $65.
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.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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