Looking At Wayfair's Recent Whale Trades

Someone with a lot of money to spend has taken a bullish stance on Wayfair W.

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 W, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 34 uncommon options trades for Wayfair.

This isn't normal.

The overall sentiment of these big-money traders is split between 61% bullish and 38%, bearish.

Out of all of the special options we uncovered, 28 are puts, for a total amount of $2,674,424, and 6 are calls, for a total amount of $276,470.

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 $25.0 to $180.0 for Wayfair 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 Wayfair'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 Wayfair's whale activity within a strike price range from $25.0 to $180.0 in the last 30 days.

Wayfair 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
W PUT SWEEP BULLISH 01/19/24 $55.00 $577.5K 1.2K 387
W PUT TRADE BULLISH 08/19/22 $180.00 $364.9K 12 29
W PUT TRADE BEARISH 01/19/24 $25.00 $304.2K 5 1.2K
W PUT SWEEP BEARISH 01/19/24 $25.00 $193.5K 5 417
W PUT SWEEP BULLISH 01/19/24 $55.00 $163.7K 1.2K 0

Where Is Wayfair Standing Right Now?

  • With a volume of 3,684,579, the price of W is up 3.62% at $52.65.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 79 days.

What The Experts Say On Wayfair:

  • Truist Securities has decided to maintain their Buy rating on Wayfair, which currently sits at a price target of $130.
  • Morgan Stanley has decided to maintain their Underweight rating on Wayfair, which currently sits at a price target of $90.
  • JP Morgan has decided to maintain their Underweight rating on Wayfair, which currently sits at a price target of $70.
  • Needham has decided to maintain their Buy rating on Wayfair, which currently sits at a price target of $100.
  • Piper Sandler downgraded its action to Neutral with a price target of $65

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 {d[company_name]}, Benzinga Progives you real-time options trades alerts.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date of Trade
ticker
Put/Call
Strike Price
DTE
Sentiment
Posted In: OptionsMarketsBZI-UOA
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...