Investors with a lot of money to spend have taken a bearish stance on Western Digital WDC.
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 WDC, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 45 options trades for Western Digital.
This isn't normal.
The overall sentiment of these big-money traders is split between 26% bullish and 73%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $48,620, and 44, calls, for a total amount of $3,260,110.
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Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $105.0 for Western Digital over the recent three 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 Western Digital'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 Western Digital's whale activity within a strike price range from $40.0 to $105.0 in the last 30 days.
Western Digital Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WDC | CALL | SWEEP | BULLISH | 04/19/24 | $12.1 | $12.05 | $12.1 | $60.00 | $573.5K | 7.0K | 476 |
| WDC | CALL | TRADE | BEARISH | 04/12/24 | $1.13 | $1.08 | $1.08 | $74.00 | $280.0K | 760 | 3.8K |
| WDC | CALL | SWEEP | BEARISH | 04/19/24 | $5.55 | $3.7 | $3.71 | $72.00 | $146.4K | 4.4K | 2 |
| WDC | CALL | TRADE | BEARISH | 05/17/24 | $9.2 | $8.15 | $8.4 | $67.50 | $131.0K | 1.8K | 3 |
| WDC | CALL | SWEEP | BEARISH | 01/16/26 | $31.3 | $30.95 | $31.3 | $50.00 | $112.6K | 389 | 17 |
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.
Present Market Standing of Western Digital
- Trading volume stands at 4,314,989, with WDC's price up by 2.91%, positioned at $75.24.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 28 days.
What Analysts Are Saying About Western Digital
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $88.33333333333333.
- An analyst from Rosenblatt upgraded its action to Buy with a price target of $115.
- An analyst from Evercore ISI Group has revised its rating downward to Outperform, adjusting the price target to $80.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight 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 Western Digital with Benzinga Pro for real-time alerts.
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