Whales with a lot of money to spend have taken a noticeably bearish stance on Wayfair.
Looking at options history for Wayfair W we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 69% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $131,750 and 10, calls, for a total amount of $428,636.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $50.0 and $75.0 for Wayfair, spanning the last three months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Wayfair's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Wayfair's substantial trades, within a strike price spectrum from $50.0 to $75.0 over the preceding 30 days.
Wayfair 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| W | CALL | SWEEP | BEARISH | 01/17/25 | $75.00 | $116.9K | 664 | 108 |
| W | CALL | SWEEP | BULLISH | 04/19/24 | $65.00 | $69.0K | 5.9K | 173 |
| W | CALL | TRADE | BULLISH | 03/15/24 | $65.00 | $48.0K | 2.8K | 2.3K |
| W | PUT | SWEEP | BEARISH | 06/21/24 | $60.00 | $45.5K | 953 | 200 |
| W | PUT | TRADE | BEARISH | 06/21/24 | $60.00 | $45.4K | 953 | 250 |
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.
Having examined the options trading patterns of Wayfair, 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 Wayfair
- With a volume of 2,416,075, the price of W is up 1.91% at $61.47.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 57 days.
What Analysts Are Saying About 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 $68.6.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Wayfair with a target price of $65.
- Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $70.
- An analyst from Wedbush downgraded its action to Outperform with a price target of $70.
- Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $75.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Wayfair, targeting a price of $63.
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.
© 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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