Deep-pocketed investors have adopted a bearish approach towards Wayfair W, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in W usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 20 extraordinary options activities for Wayfair. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 45% leaning bullish and 50% bearish. Among these notable options, 9 are puts, totaling $1,733,966, and 11 are calls, amounting to $883,527.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $35.0 to $70.0 for Wayfair over the recent three months.
Volume & Open Interest Trends
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 $35.0 to $70.0 over the preceding 30 days.
Wayfair 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| W | PUT | TRADE | BULLISH | 05/03/24 | $5.35 | $5.15 | $5.16 | $53.00 | $1.2M | 3.1K | 2.5K |
| W | CALL | SWEEP | BULLISH | 05/17/24 | $1.27 | $1.23 | $1.27 | $60.00 | $284.7K | 9.0K | 2.7K |
| W | PUT | SWEEP | BULLISH | 01/17/25 | $8.15 | $7.9 | $7.9 | $45.00 | $159.7K | 5.9K | 462 |
| W | CALL | SWEEP | BEARISH | 09/20/24 | $7.25 | $7.2 | $7.2 | $55.00 | $142.5K | 243 | 210 |
| W | CALL | SWEEP | BULLISH | 05/17/24 | $1.27 | $1.26 | $1.27 | $60.00 | $86.9K | 9.0K | 5.1K |
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.
Where Is Wayfair Standing Right Now?
- Currently trading with a volume of 2,385,889, the W's price is down by -1.05%, now at $49.62.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 1 days.
Expert Opinions on 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 $69.8.
- Consistent in their evaluation, an analyst from Loop Capital keeps a Hold rating on Wayfair with a target price of $65.
- An analyst from Evercore ISI Group upgraded its action to Outperform with a price target of $80.
- In a cautious move, an analyst from Wedbush downgraded its rating to Outperform, setting a price target of $70.
- Consistent in their evaluation, an analyst from TD Cowen keeps a Hold rating on Wayfair with a target price of $55.
- An analyst from Deutsche Bank persists with their Buy rating on Wayfair, maintaining a target price of $79.
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 Wayfair, Benzinga Pro gives you real-time options trades 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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