Wayfair's Options: A Look at What the Big Money is Thinking

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 10 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 $32,700, and 9, calls, for a total amount of $406,609.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $55.0 to $130.0 for Wayfair during the past quarter.

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 $55.0 to $130.0 over the preceding 30 days.

Wayfair Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

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.

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

Wayfair's Current Market Status

• Trading volume stands at 628,378, with W's price up by 2.59%, positioned at $64.84.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 24 days.

Professional Analyst Ratings for 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 $76.4.

• Reflecting concerns, an analyst from Morgan Stanley lowers its rating to Overweight with a new price target of $80.
• An analyst from Mizuho has revised its rating downward to Buy, adjusting the price target to $72.
• In a positive move, an analyst from Evercore ISI Group has upgraded their rating to Outperform and adjusted the price target to $80.
• Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Wayfair with a target price of $85.
• Maintaining their stance, an analyst from Loop Capital continues to hold a Hold rating for Wayfair, targeting a price of $65.

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.