Decoding Workday's Options Activity: What's the Big Picture?

Financial giants have made a conspicuous bullish move on Workday. Our analysis of options history for Workday WDAY revealed 13 unusual trades.

Delving into the details, we found 61% of traders were bullish, while 15% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $178,100, and 9 were calls, valued at $346,645.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $200.0 to $240.0 for Workday over the recent three months.

Volume & Open Interest Trends

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Workday'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 Workday's whale trades within a strike price range from $200.0 to $240.0 in the last 30 days.

Workday 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
WDAY PUT SWEEP BULLISH 01/17/25 $12.7 $12.1 $12.32 $200.00 $86.2K 889 0
WDAY CALL SWEEP BULLISH 06/21/24 $2.5 $2.45 $2.5 $220.00 $50.2K 1.2K 610
WDAY CALL TRADE BULLISH 06/21/24 $2.5 $2.35 $2.5 $220.00 $50.0K 1.2K 210
WDAY CALL TRADE BULLISH 06/21/24 $2.6 $2.45 $2.6 $220.00 $46.2K 1.2K 210
WDAY CALL SWEEP BULLISH 06/21/24 $1.85 $1.75 $1.85 $225.00 $46.2K 557 260

About Workday

Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions. Known for being a cloud-only software provider, Workday is headquartered in Pleasanton, California. Founded in 2005, Workday now employs over 18,000 employees.

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

Current Position of Workday

  • Trading volume stands at 1,417,754, with WDAY's price up by 0.88%, positioned at $212.99.
  • RSI indicators show the stock to be may be oversold.
  • Earnings announcement expected in 78 days.

Expert Opinions on Workday

5 market experts have recently issued ratings for this stock, with a consensus target price of $291.0.

  • An analyst from Baird has decided to maintain their Outperform rating on Workday, which currently sits at a price target of $265.
  • An analyst from Morgan Stanley persists with their Overweight rating on Workday, maintaining a target price of $325.
  • An analyst from RBC Capital has decided to maintain their Outperform rating on Workday, which currently sits at a price target of $300.
  • Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Workday with a target price of $285.
  • An analyst from Mizuho has decided to maintain their Buy rating on Workday, which currently sits at a price target of $280.

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 Workday, Benzinga Pro gives you real-time options trades alerts.

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Posted In: OptionsMarketsBZI-UOA
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