Looking At Workday's Recent Whale Trades

Looking At Workday's Recent Whale Trades

Someone with a lot of money to spend has taken a bearish stance on Workday WDAY.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with WDAY, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 31 options trades for Workday.

This isn't normal.

The overall sentiment of these big-money traders is split between 41% bullish and 58%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $53,015, and 30, calls, for a total amount of $1,687,673..

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $240.0 to $270.0 for Workday over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $240.0 to $270.0 in the last 30 days.

Workday Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
WDAY CALL SWEEP NEUTRAL 01/20/23 $270.00 $108.9K 179 297
WDAY CALL SWEEP NEUTRAL 01/20/23 $260.00 $75.5K 107 654
WDAY CALL TRADE BEARISH 01/20/23 $250.00 $75.1K 1.1K 540
WDAY CALL SWEEP BULLISH 01/20/23 $260.00 $73.7K 107 196
WDAY CALL TRADE NEUTRAL 01/20/23 $250.00 $73.0K 1.1K 385

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
WDAY CALL SWEEP NEUTRAL 01/20/23 $270.00 $108.9K 179 297
WDAY CALL SWEEP NEUTRAL 01/20/23 $260.00 $75.5K 107 654
WDAY CALL TRADE BEARISH 01/20/23 $250.00 $75.1K 1.1K 540
WDAY CALL SWEEP BULLISH 01/20/23 $260.00 $73.7K 107 196
WDAY CALL TRADE NEUTRAL 01/20/23 $250.00 $73.0K 1.1K 385

Where Is Workday Standing Right Now?

  • With a volume of 683,353, the price of WDAY is up 0.08% at $236.65.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 16 days.

What The Experts Say On Workday:

  • BMO Capital upgraded its action to Outperform with a price target of $295

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.

Posted In: BZI-UOAOptionsMarkets