Financial giants have made a conspicuous bullish move on Western Digital. Our analysis of options history for Western Digital WDC revealed 9 unusual trades.
Delving into the details, we found 55% of traders were bullish, while 44% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $122,220, and 6 were calls, valued at $753,902.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $50.0 to $65.0 for Western Digital during the past quarter.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Western Digital stands at 3160.0, with a total volume reaching 10,487.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Western Digital, situated within the strike price corridor from $50.0 to $65.0, throughout the last 30 days.
Western Digital Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WDC | CALL | TRADE | BULLISH | 04/19/24 | $57.50 | $322.5K | 15.7K | 3.3K |
| WDC | CALL | TRADE | BULLISH | 04/19/24 | $57.50 | $159.3K | 15.7K | 2.5K |
| WDC | CALL | TRADE | BULLISH | 04/19/24 | $57.50 | $91.1K | 15.7K | 1.9K |
| WDC | CALL | TRADE | BULLISH | 04/19/24 | $57.50 | $90.0K | 15.7K | 2.2K |
| WDC | PUT | SWEEP | BEARISH | 02/16/24 | $59.00 | $61.7K | 608 | 137 |
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.
After a thorough review of the options trading surrounding Western Digital, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Western Digital
- Currently trading with a volume of 3,369,703, the WDC's price is down by -0.57%, now at $57.79.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 96 days.
Expert Opinions on Western Digital
In the last month, 5 experts released ratings on this stock with an average target price of $67.2.
- Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Western Digital, targeting a price of $70.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Western Digital with a target price of $72.
- Consistent in their evaluation, an analyst from Goldman Sachs keeps a Neutral rating on Western Digital with a target price of $58.
- Consistent in their evaluation, an analyst from Mizuho keeps a Buy rating on Western Digital with a target price of $66.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target 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 Western Digital with Benzinga Pro for real-time alerts.
© 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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