What the Options Market Tells Us About Wayfair - Wayfair (NYSE:W)

Investors with a lot of money to spend have taken a bullish stance on Wayfair W.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with W, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 8 uncommon options trades for Wayfair.

This isn't normal.

The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $250,590, and 2 are calls, for a total amount of $58,172.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $35.0 to $130.0 for Wayfair over the last 3 months.

Insights into Volume & Open Interest

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 $35.0 to $130.0 in the last 30 days.

Wayfair Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Strike Price	Total Trade Price	Open Interest	Volume
W	PUT	SWEEP	BEARISH	06/21/24	$130.00	$61.2K	0	8
W	PUT	TRADE	BULLISH	03/01/24	$53.00	$49.2K	94	58
W	PUT	SWEEP	BULLISH	01/17/25	$35.00	$42.2K	5.2K	179
W	PUT	TRADE	BEARISH	08/16/24	$45.00	$34.7K	993	81
W	PUT	SWEEP	BEARISH	05/17/24	$55.00	$34.4K	626	45

About Wayfair

Wayfair engages in e-commerce in the United States (86% of 2022 sales), Canada, the United Kingdom, Germany, and Ireland. At the end of 2022, the firm offered more than 40 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.

Following our analysis of the options activities associated with Wayfair, we pivot to a closer look at the company's own performance.

Present Market Standing of Wayfair

With a trading volume of 5,194,133, the price of W is down by -2.85%, reaching $52.5.
Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
Next earnings report is scheduled for 69 days from now.

What The Experts Say On Wayfair

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $76.2.

In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $88.
In a cautious move, an analyst from Wedbush downgraded its rating to Outperform, setting a price target of $70.
Reflecting concerns, an analyst from Canaccord Genuity lowers its rating to Buy with a new price target of $80.
Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Wayfair, targeting a price of $73.
Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform 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 Wayfair with Benzinga Pro for real-time alerts.

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