Western Digital Unusual Options Activity

Financial giants have made a conspicuous bearish move on Western Digital. Our analysis of options history for Western Digital WDC revealed 28 unusual trades.

Delving into the details, we found 39% of traders were bullish, while 60% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $508,660, and 20 were calls, valued at $1,748,184.

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 $47.5 to $85.0 for Western Digital over the last 3 months.

Volume & Open Interest Development

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Western Digital's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Western Digital's substantial trades, within a strike price spectrum from $47.5 to $85.0 over the preceding 30 days.

Western Digital Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

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

Present Market Standing of Western Digital

• Trading volume stands at 5,938,061, with WDC's price up by 2.89%, positioned at $61.19.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 66 days.

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.