Investors with a lot of money to spend have taken a bullish stance on Western Digital WDC.
And retail traders should know.
We noticed this today when the trades 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.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 16 uncommon options trades for Western Digital.
This isn't normal.
The overall sentiment of these big-money traders is split between 62% bullish and 25%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $141,062, and 12 are calls, for a total amount of $1,052,986.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $65.0 to $100.0 for Western Digital over the recent three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Western Digital stands at 657.0, with a total volume reaching 10,679.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Western Digital, situated within the strike price corridor from $65.0 to $100.0, throughout the last 30 days.
Western Digital 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WDC | CALL | SWEEP | BEARISH | 06/21/24 | $4.0 | $3.9 | $4.0 | $72.50 | $394.0K | 1.2K | 1.0K |
| WDC | CALL | TRADE | BULLISH | 01/16/26 | $20.65 | $19.75 | $20.3 | $65.00 | $123.8K | 323 | 61 |
| WDC | CALL | TRADE | BULLISH | 01/17/25 | $2.85 | $2.7 | $2.8 | $100.00 | $70.0K | 1.0K | 754 |
| WDC | CALL | TRADE | BULLISH | 01/17/25 | $2.86 | $2.69 | $2.8 | $100.00 | $70.0K | 1.0K | 254 |
| WDC | CALL | TRADE | NEUTRAL | 05/03/24 | $2.27 | $2.15 | $2.21 | $70.00 | $55.2K | 1.6K | 1.2K |
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.
Following our analysis of the options activities associated with Western Digital, we pivot to a closer look at the company's own performance.
Current Position of Western Digital
- With a volume of 7,517,890, the price of WDC is up 1.39% at $70.83.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 90 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Western Digital, Benzinga Pro gives you real-time options trades alerts.
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