Check Out What Whales Are Doing With Wayfair

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 positions 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.

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

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $30,800, and 7, calls, for a total amount of $875,262.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $45.0 and $80.0 for Wayfair, spanning the last three months.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Wayfair's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Wayfair's significant trades, within a strike price range of $45.0 to $80.0, over the past month.

Wayfair 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About Wayfair

Wayfair engages in e-commerce in the United States (87% of 2023 sales), Canada, the United Kingdom, Germany, and Ireland. At the end of 2023, the firm offered more than 30 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.

After a thorough review of the options trading surrounding Wayfair, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Wayfair

• Trading volume stands at 2,116,986, with W's price up by 1.26%, positioned at $60.99.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 44 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 $74.6.

• An analyst from Wedbush downgraded its action to Outperform with a price target of $70.
• An analyst from Truist Securities persists with their Buy rating on Wayfair, maintaining a target price of $63.
• An analyst from Mizuho downgraded its action to Buy with a price target of $72.
• Reflecting concerns, an analyst from Piper Sandler lowers its rating to Overweight with a new price target of $88.
• In a cautious move, an analyst from Canaccord Genuity downgraded its rating to Buy, setting a price target of $80.

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 Wayfair options trades with real-time alerts from Benzinga Pro.