Workday's Options: A Look at What the Big Money is Thinking

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Investors with a lot of money to spend have taken a bullish stance on Workday WDAY.

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 WDAY, 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 12 uncommon options trades for Workday.

This isn't normal.

The overall sentiment of these big-money traders is split between 41% bullish and 41%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $771,169, and 6 are calls, for a total amount of $287,480.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $210.0 to $290.0 for Workday during the past quarter.

Analyzing Volume & Open Interest

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 $210.0 to $290.0 in the last 30 days.

Workday 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
WDAY PUT TRADE BEARISH 09/20/24 $17.5 $17.3 $17.5 $230.00 $385.0K 822 0
WDAY PUT SWEEP BEARISH 12/20/24 $22.5 $22.1 $22.5 $230.00 $222.7K 181 0
WDAY CALL TRADE BULLISH 08/16/24 $4.3 $4.2 $4.3 $230.00 $86.0K 583 37
WDAY PUT TRADE NEUTRAL 01/17/25 $18.8 $18.4 $18.6 $220.00 $63.2K 1.0K 0
WDAY CALL TRADE BULLISH 08/16/24 $4.3 $4.2 $4.3 $230.00 $61.9K 583 237

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.

Having examined the options trading patterns of Workday, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Present Market Standing of Workday

  • With a trading volume of 904,481, the price of WDAY is down by -0.35%, reaching $218.32.
  • Current RSI values indicate that the stock is may be approaching overbought.
  • Next earnings report is scheduled for 59 days from now.

What The Experts Say On Workday

1 market experts have recently issued ratings for this stock, with a consensus target price of $275.0.

  • An analyst from Wells Fargo has decided to maintain their Overweight rating on Workday, which currently sits at a price target of $275.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Workday options trades with real-time alerts from Benzinga Pro.

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