Behind the Scenes of Wayfair's Latest Options Trends

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 22 options trades for Wayfair.

This isn't normal.

The overall sentiment of these big-money traders is split between 72% bullish and 22%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $48,060, and 21, calls, for a total amount of $2,948,126.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $25.0 and $85.0 for Wayfair, spanning the last three months.

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 $25.0 to $85.0 over the preceding 30 days.

Wayfair Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
W CALL TRADE BEARISH 05/17/24 $12.05 $11.95 $11.95 $55.00 $418.2K 2.5K 362
W CALL SWEEP BULLISH 06/21/24 $12.3 $12.25 $12.3 $55.00 $322.2K 6.0K 858
W CALL SWEEP BEARISH 05/10/24 $14.1 $13.6 $13.6 $51.00 $239.3K 312 0
W CALL SWEEP BULLISH 06/21/24 $6.15 $6.05 $6.15 $65.00 $194.9K 4.6K 1.4K
W CALL TRADE BULLISH 05/17/24 $7.2 $7.1 $7.2 $60.00 $180.0K 11.3K 2.0K

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.

Where Is Wayfair Standing Right Now?

  • With a volume of 2,720,338, the price of W is up 4.48% at $66.44.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 87 days.

What Analysts Are Saying About Wayfair

In the last month, 5 experts released ratings on this stock with an average target price of $70.4.

  • Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Wayfair, targeting a price of $70.
  • An analyst from Deutsche Bank persists with their Buy rating on Wayfair, maintaining a target price of $79.
  • An analyst from Wedbush has revised its rating downward to Outperform, adjusting the price target to $70.
  • An analyst from Needham downgraded its action to Buy with a price target of $75.
  • An analyst from TD Cowen has decided to maintain their Hold rating on Wayfair, which currently sits at a price target of $58.

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.

Market News and Data brought to you by Benzinga APIs
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Posted In: OptionsMarketsBZI-UOA
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